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Global Travel and Tourism Deal Activity Down by 11% YoY During Q1-Q3 2024, Finds GlobalData
GlobalData | October 21, 2024
A total of 519 deals (comprising mergers and acquisitions (M&A), private equity, and venture financing deals) were announced in the travel and tourism sector globally during January to September (Q1-Q3) 2024, which was a year-on-year (YoY) decline of 11% over 583 deals announced during the same period in the previous year, according to GlobalData, a leading data and analytics company. An analysis of GlobalData’s Deals Database also revealed that the volume of M&A deals decreased by 6.8% during Q1-Q3 2024 compared to the same period in 2023, while the number of venture financing deals was down by 25.2% YoY. Meanwhile, private
Thousands Protest in Spain’s Canary Islands Against Overtourism
October 21, 2024
By Borja Suarez GRAN CANARIA, Spain (Reuters) - Thousands of people protested in holiday resorts in Spain's Canary Islands on Sunday against overtourism which they say prices local people out of the housing market. Under the slogan Canary Islands has a limit, residents demonstrated simultaneously in Gran Canaria, Tenerife, La Palma, Fuerteventura, Lanzarote and El Hierro and called for a change in the tourism model for the islands. In the Playa de las Americas in Tenerife, protesters appeared on the beach while tourists were sunbathing and chanted "This beach is ours." Activists claimed the arrival of millions of visitors every ye
Q3 2024 Major U.S. Hotel Sales Survey
Daniel Lesser | October 21, 2024
By Daniel H. Lesser 2024 has been a turbulent year thus far as we have witnessed dramatic national and global events that may very well alter the course of history. During this past quarter alone: • Two assassination attempts were made on a former U.S. President who is a major party candidate once again in the upcoming election. • One month prior to this year’s Democratic National Convention, U.S. President Joe Biden, having earned sufficient delegates to be the party nominee, withdrew his candidacy and was replaced by the current Vice President Kamala Harris. • Nearly one year after the horrific events of October 7, 2023,
U.S. Election Impact on Global Travel and Hotel Performance
CoStar Group | October 21, 2024
Analysis by Kelsey Fenerty American outbound travel was much stronger than anticipated across European markets this year, in part due to mega events such as the Summer Olympics and Taylor Swift’s Eras Tour. With the summer months past us, conversations are now swirling around how the U.S. presidential election will impact tourism outside of North America. Less international travel is standard this time of year There will be fewer Americans abroad this autumn and winter, which is entirely normal. U.S. schools resumed between mid-August to early-September with corporate conference season following swiftly thereafter. The U.S. h
U.S. Hotel Performance for September 2024
CoStar Group | October 21, 2024
WASHINGTON – 21 October 2024 – The U.S. hotel industry reported mixed performance results from the previous month, according to September 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. September 2024 (percentage change from September 2023): Occupancy: 64.6% (-2.5%) Average daily rate (ADR): US$162.63 (+1.2%) Revenue per available room (RevPAR): US$105.04 (-1.3%) Among the Top 25 Markets, New York City experienced the highest occupancy level (-0.8% to 87.0%), driven by the United Nations General Assembly, Fashion Week, and the
Hotel Assets: The Dark Horse in Real Estate Investing
Dancong 'Dannie' Li | October 21, 2024
By Dancong 'Dannie' Li , Jingjianxiong 'Charlie' Shi , Monique Rosszell Introduction Once considered the 'underdog' in the world of real estate investing, the hotel sector has experienced a remarkable resurgence over the past decade, with a particularly significant upturn since 2021, driven by the surge of pent-up demand resulting from the pandemic. Hotels were often perceived as risky investments due to their seasonality and reliance on short-term leases (i.e., daily rentals). In comparison, the multifamily and office sectors have often been considered safer real estate investments due to the stability of rental income, their resilien
IHG ANA Hotels Group Japan Appoints Kiyohito Iinuma as New Chief Operating Officer
IHG Hotels & Resorts | October 21, 2024
21 October 2024 – Tokyo, Japan: IHG ANA Hotels Group Japan (IHG) is pleased to announce the appointment of Kiyohito Iinuma as its new Chief Operating Officer (COO) for Japan. In addition to his current position as Director of Operations, Japan, Kiyohito will now also serve as the ANA appointee to the joint venture and as a Director of IHG ANA Hotels Holdings Co., Ltd. Abhijay Sandilya, CEO, IHG ANA Hotels Group Japan and Managing Director, IHG Hotels & Resorts Japan & Micronesia, said: “We are thrilled to see Iinuma-san take on this critical role. His extensive experience and proven track record make him the ideal candidate
IHG Hotels & Resorts Accelerates Garner Expansion With Four Additional Signings Across Europe
IHG Hotels & Resorts | October 21, 2024
21 October 2024 (London, UK) – IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, today announces the signing of four new Garner properties, extending the brand’s presence across the UK and Europe. Launched in August 2023, Garner occupies the midscale conversion space, offering owners flexibility and strong returns, and guests a high quality, distinct experience at a price that’s hard to find. With a clear focus on ease and simplicity, the brand has seen rapid global growth, with 76 properties signed in the first half of 2024 alone, with 58 of those coming to IHG’s Europe market. Interest in conversio