Minor Hotels to Debut in Singapore With Avani Hotels & Resorts Lifestyle Brand
Avani Hotels & Resorts | September 3, 2024
Brandt Hospitality Group Getting Great Results From Accounting Software Partner
Aptech | June 5, 2024
Finance & Development
Mortenson Development to Break Ground on Motto by Hilton in Nashville’s SoBro Neighborhood
Mortenson | March 12, 2024
NASHVILLE, Tenn. – (March 12, 2024) – A new lifestyle hotel is coming to the popular South of Broadway (SoBro) neighborhood in Nashville. Mortenson Development has purchased the site located at 311 3rd Avenue, closed on its construction financing, and will start construction later this month. This is the first Motto by Hilton in the Nashville area. Motto by Hilton is a lifestyle brand that empowers guests by giving them added flexibility to create their own stay experiences in the world’s most sought-after cities. Located in the heart of the SoBro neighborhood, the hotel site is three blocks south of the famous Broadway Street and is...
Hyatt to Debut the Andaz Brand in Florida With Vibrant Miami Beach Haven
Andaz | March 12, 2024
Following a property-wide renovation, luxury lifestyle hotel Andaz Miami Beach is slated to open in late 2024, with reimagined spaces, programming and a new culinary collaboration with Jose Andrés Group. MIAMI BEACH, Fla. (March 11, 2024) – Hyatt Hotels Corporation (NYSE: H) announced an update on the anticipated renovation of The Confidante Miami Beach and its complete transformation into the new Andaz Miami Beach, which is slated to open in the fourth quarter of 2024. The new hotel, which is owned by Sunstone Hotel Investors, Inc., will go beyond the familiar to discover and define guests’ personal essence while immersing themselv...
Avison Young Closed 12 Hotel Transactions Over Last 90 Days
Avison Young | March 11, 2024
ATLANTA – March 11, 2024 – Avison Young announces today that the firm has closed 12 hotel transactions over the last 90 days. Four of the sales were Hilton-branded hotels, two were Marriott-branded hotels, and an IHG and other brands made up the balance. Geographically the hotels were located in the following states – IN, KY, PA, CO, VA, AR, MA, GA, and TN. Of special note, Thierry Roch and Rick George closed a sale on a boutique hotel in the Cape Cod area for close to 1m per room and Chris Kilcullen closed the sale for the upscale Ascent on Main in Parker, CO. Chris Stark, Brad Sinclair, Mike George, Thierry Roch and Rick George were t...
Marriott International Signs Agreement With Victoria Park Hotels to Debut Autograph Collection Hotels in Hong Kong
Marriott International | March 7, 2024
Marriott International, Inc. today announced it has signed an agreement with Victoria Park Hotels Ltd. to launch The Park Lane Hong Kong, Autograph Collection in early 2025. The Park Lane Hong Kong, Autograph Collection is expected to join Autograph Collection Hotels’ portfolio of over 300 independent properties in the most desirable locations across the world, each with its own unique perspective on heartfelt design and hospitality. “We are delighted to work with Victoria Park Hotels to bring Autograph Collection Hotels to Hong Kong," said Yibing Mao, President, Greater China, Marriott International. “It further underscores our com...
Red Sea Global and Four Seasons Partner to Develop New Luxury Wellness Resort and Private Residences at Triple Bay AMAALA
Red Sea Global | March 6, 2024
[fusion_builder_container type="flex" hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_color="" border_style="solid" padding_top="" padding_bottom="" padding_left="" padding_right=""][fusion_builder_row][fusion_builder_column typ...
Minor Hotels Signs With Infinity Group for Anantara Zanzibar Resort
Minor Hotels | March 6, 2024
Dubai, March 6, 2024: Minor Hotels, an international hotel owner, operator, and investor with more than 540 hotels in 56 countries in Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe and the Americas, announces the signing of a new Anantara Resort to be developed in Zanzibar, Tanzania. Located on the northern coast of Zanzibar Island, the group will launch the 181-key Anantara Zanzibar Resort in 2027. The new-build property will feature 37 luxury suites, one presidential villa, and 73 one and two-bedroom sea view villas with private pool. The resort will also include 38 one-bedroom apartments, 19 two-bedroom apartments, ...
Regent and InterContinental Hotels To Open in the King Abdullah Financial District (KAFD)
IHG | March 5, 2024
[fusion_builder_container type="flex" hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_color="" border_style="solid" padding_top="" padding_bottom="" padding_left="" padding_right=""][fusion_builder_row][fusion_builder_column typ...
Operational Benchmarking in Practice
Arlene Ramirez | March 4, 2024
[fusion_builder_container type="flex" hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_color="" border_style="solid" padding_top="" padding_bottom="" padding_left="" padding_right=""][fusion_builder_row][fusion_builder_column typ...
What to Expect in the Hospitality Industry in 2024
Mark D. Podgainy | March 4, 2024
By Mark D. Podgainy The hospitality industry experienced a modest increase in RevPAR in 2023, and the industry seems to be optimistic about the future. What’s ahead for 2024? Uncertainty is the major theme. What’s Ahead • Interest rates will be higher for longer. Expectations of a number of rapid cuts to the Federal Funds rate early this year have been dashed with the latest inflation data. Most economists still expect reductions in the Federal Funds rate but have pushed back the time frame for the first reduction to late spring and have reduced their forecasts for the number of reductions. If inflation remains stubbornly high,...
Radisson Hotel Group Targets 50% Portfolio Expansion in West and Central Africa by 2030
Radisson Hotel Group | February 29, 2024
[fusion_builder_container type="flex" hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_color="" border_style="solid" padding_top="" padding_bottom="" padding_left="" padding_right=""][fusion_builder_row][fusion_builder_column typ...
IHG Partners With Whitestone and Redrock Portfolio to Bring Six Senses to the South Carolina Coast
IHG | February 28, 2024
[fusion_builder_container type="flex" hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_color="" border_style="solid" padding_top="" padding_bottom="" padding_left="" padding_right=""][fusion_builder_row][fusion_builder_column typ...
The Global Construction Pipeline Ascends to Record Project Counts at 2023 Year-End
Lodging Econometrics | February 28, 2024
[fusion_builder_container type="flex" hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_color="" border_style="solid" padding_top="" padding_bottom="" padding_left="" padding_right=""][fusion_builder_row][fusion_builder_column typ...
American Liberty Hospitality Leveraging AI for Enhanced End-to-End Hotel AP Automation
Aptech | February 28, 2024
[fusion_builder_container type="flex" hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_color="" border_style="solid" padding_top="" padding_bottom="" padding_left="" padding_right=""][fusion_builder_row][fusion_builder_column typ...
New Waterloo Expands Into Cleveland, Ohio With Adaptive Reuse of Historic Baker Building in Partnership With Nuovore
NEW WATERLOO | February 26, 2024
[fusion_builder_container type="flex" hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_color="" border_style="solid" padding_top="" padding_bottom="" padding_left="" padding_right=""][fusion_builder_row][fusion_builder_column typ...
Hyatt Reports Fourth Quarter and Full Year 2023 Results
Hyatt Hotels Corporation | February 26, 2024
[fusion_builder_container type="flex" hundred_percent="no" equal_height_columns="no" menu_anchor="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" background_color="" background_image="" background_position="center center" background_repeat="no-repeat" fade="no" background_parallax="none" parallax_speed="0.3" video_mp4="" video_webm="" video_ogv="" video_url="" video_aspect_ratio="16:9" video_loop="yes" video_mute="yes" overlay_color="" video_preview_image="" border_color="" border_style="solid" padding_top="" padding_bottom="" padding_left="" padding_right=""][fusion_builder_row][fusion_builder_column typ...
Kimpton Hotels & Restaurants to Debut in Italy With Signing of Sicily Hotel
IHG | February 22, 2024
22.02.24 (London, UK): IHG Hotels & Resorts, one of the world’s leading hotel companies, has today announced the signing of its first Kimpton Hotels & Restaurants property in Italy. Joining IHG’s fast-growing luxury & lifestyle portfolio, now the second largest in the world, the Kimpton property in Sicily will open in the second half of 2025 and represents a management agreement with partner Società Turistica Alberghiera Taorminese. The Kimpton signing in Sicily follows six luxury and lifestyle openings and signings by IHG in 2023, demonstrating IHG’s investment and focus on this key market. This included the first u...
Accor Releases Full-Year 2023 Results: Record EBITDA of More Than €1 Billion
Accor | February 22, 2024
RESULTS ABOVE 2023 GUIDANCE RESUMED ATTRACTIVE SHAREHOLDER RETURNS POLICY CONFIDENCE IN GROWTH PROSPECTS FOR 2024 * * * RevPAR UP 23% LFL REVENUE UP 20% TO €5,056 MILLION EBITDA UP 49% TO €1,003 MILLION NET PROFIT GROUP SHARE UP 57% AT €633 MILLION Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said: “Accor generated record-high results in 2023, with EBITDA breaking the €1 billion mark for the first time in its history. While there were numerous reasons for this success, the solid performances were above all attributable to the Group’s teams. I would like to thank them for their commitm...
Middle East Hotel Construction Pipeline Marks Highest Year-Over-Year Project Growth Since 2018
Lodging Econometrics (LE) | February 22, 2024
February 22, 2024 – PORTSMOUTH, NH – The Q4 2023 Hotel Construction Pipeline Trend Report for the Middle East from Lodging Econometrics (LE) states that at the close of the fourth quarter, the region’s total pipeline stands at 607 projects/145,984 rooms. The region boasts an impressive 11% year-over-year (YOY) increase in projects and a 2% YOY rise in rooms, marking the most substantial growth by projects since Q1 2018. At Q4, there are 309 projects/83,308 rooms under construction, up 2% YOY by projects. Those projects scheduled to start construction in the next 12 months are at 110 projects/26,454 rooms, up 7% YOY by projects, while...
Hilton Accelerates Expansion in the Caribbean and Latin America With Record Room Growth in 2023 and a Pipeline of Nearly 110 Hotels
Hilton | February 21, 2024
Hilton is poised for another breakthrough year in the region with 2024 expected to bring first in market openings across multiple brands, including the highly anticipated Waldorf Astoria Costa Rica Cacique and Zemi Miches All‑Inclusive Resort, Curio Collection by Hilton MCLEAN, Va. – Leading global hospitality company, Hilton (NYSE: HLT), achieved a year of exceptional growth in the Caribbean and Latin America (CALA), entering new markets and celebrating brand milestones in 2023. Last year, Hilton opened 19 new hotels and approximately 4,000 rooms in the Caribbean and Latin America, representing more rooms added in the region than ...
Retreat Hotels & Resorts Breaks Ground on Dual-Branded Marriott Hotel on the Georgia National Fairgrounds & Agricenter
Retreat Hotels & Resorts | February 21, 2024
Retreat Hotels & Resorts (“Retreat”), the Georgia Agricultural Exposition Authority (“GAEA”), and the City of Perry, GA announced the start of construction of a new TownePlace Suites / Fairfield by Marriott dual-branded hotel on the Georgia National Fairgrounds & Agricenter (“Fairgrounds”) in Perry, GA. The hotel is expected to open in the summer of 2025. The planned 129-key hotel features two brands under one roof, with 66 TownePlace Suites by Marriott keys and 63 Fairfield by Marriott keys. The property will be connected via an air-conditioned corridor to the adjacent conference center, the Miller Murphy Howard Center...
Choice Hotels International Reports Fourth Quarter and Full-Year 2023 Results
Choice Hotels International, Inc. | February 20, 2024
Achieves Record Revenues in 2023 Exceeds Full-Year 2023 Outlook for Unit Growth Grows Global Rooms Pipeline Sequentially 6% including a 16% Increase for Conversion Hotels NORTH BETHESDA, Md., Feb. 20, 2024 -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's leading lodging franchisors, today reported its fourth quarter and full-year 2023 results. Highlights include: Record total revenues grew 10% to $1.5 billion for full-year 2023 compared to the same period of 2022. Net income was $258.5 million for full-year 2023, representing diluted earnings per share (EPS) of $5.07. As a result of one-time items, i...
Hilton Signs Agreement With JMK Group to Open Home2 Suites Dublin City Centre
Hilton | February 20, 2024
One of Hilton’s fastest growing brands to open in Dublin city centre in 2025 DUBLIN – Hilton (NYSE: HLT) today announced the signing of Home2 Suites by Hilton Dublin City Centre, signalling the market-leading brand’s debut in Western Europe, as part of a franchise agreement with JMK Group. Home2 Suites by Hilton Dublin City Centre will be located only 100m from the vibrant O’Connell Street, home to the world-famous St. Patrick’s Day Parade. Offering easy access to Dublin’s main attractions, including Trinity College, Temple Bar and the harbour, as well as being close to the headquarters for major companies like Google and Fa...
IHG Shares Full Year Results for the Year to 31 December 2023
IHG | February 20, 2024
2023 20221 % change Underlying2 % change REPORTABLE SEGMENTS2: Revenue2 $2,164m $1,843m +17% +19% Revenue from fee business2 $1,672m $1,434m +17% +17% Operating profit2 $1,019m $828m +23% +25% Fee margin2 59.3% 55.9% +3.4%pts Adjusted EPS2 375.7¢ 282.3¢ +33% GROUP RESULTS: Total revenue $4,624m $3,892m +19% Operating profit $1,066m $628m +70% Basic EPS 443.8¢ 207.2¢ +114% Total dividend per share 152.3¢ 138.4¢ +10% Net debt2 $2,272m $1,851m +23% 1. Re-presented for the adoption of IFRS 17 ‘Insurance Contract...
The Heart of Europe and IHG Hotels & Resorts Partner to Bring the First InterContinental Resort to Dubai
IHG | February 20, 2024
The new 466-key InterContinental Resort Portofino, The Heart of Europe will open its doors in early 2026 on The World Islands Dubai, strengthening IHG Hotels & Resorts luxury and leisure portfolio in the region Dubai, United Arab Emirates, 20 February 2024: The Heart of Europe, the flagship project of Kleindienst Group, signed an agreement with IHG Hotels & Resorts, one of the world’s leading hotel companies, to launch and manage the InterContinental Resort Portofino, The Heart of Europe on The World Islands, Dubai. The signing marks the first resort property in Dubai from the iconic InterContinental brand, reaffirm...
