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
Global Deal Activity Down By 27% YoY During January-May 2023, Finds GlobalData
GlobalData | June 16, 2023
A total of 22,525 deals (merger & acquisitions (M&A), private equity, and venture financing deals) were announced globally during January-May 2023, which was a decline of 27% over the 30,753 deals announced during same period in 2022, reveals GlobalData, a leading data and analytics company. An analysis of GlobalData’s Financial Deals Database revealed that all the deal types (under coverage) witnessed year-on-year (YoY) decline during January-May 2023. The number of M&A, private equity and venture financing deals declined by 21%, 28% and 33%, respectively, during the period. Aurojyoti Bose, Lead Analyst at GlobalData, ...
Deutsche Hospitality Signs Agreement to Bring IntercityHotel Brand to Rotterdam-Schiedam
Deutsche Hospitality | June 16, 2023
The IntercityHotel brand is on a growth trajectory in Europe: Deutsche Hospitality recently signed an agreement for a new IntercityHotel in Rotterdam-Schiedam together with the joint venture between Dutch project development company De Veste Schiedam B.V. and Necron GmbH. The hotel is expected to open by the end of 2025. Oliver Bonke, Chief Executive Officer at Deutsche Hospitality, says: "We are proud to grow the IntercityHotel family in the Netherlands with De Veste Schiedam B.V. and Necron GmbH. The IntercityHotel in Rotterdam-Schiedam will strengthen our presence in the country whilst leading the way for the new “Next Gen” Intercit...
AWC Strengthens Long-Term Partnership With Nobu Hospitality to Launch Two Iconic Plaza Athénée Hotels in New York and Bangkok
Asset World Corp Public Company Limited | June 15, 2023
15 June 2023 – Asset World Corp Public Company Limited or AWC, Thailand’s leading integrated lifestyle real estate group, strengthens its long-term partnership with Nobu Hospitality, the globally iconic and fastest growing luxury lifestyle brand, to develop Plaza Athenee hotels in New York and Bangkok, bringing the new level of ultra-luxury to iconic heritage buildings in two of the world’s most visited cities. Under the collaboration, AWC and Nobu will partner to launch the world’s most remarkable hotels in the best strategic locations in New York and Bangkok under the Plaza Athenee brand. Leveraging AWC’s strength in real estate...
AHLA and SBA Secure PPP for Hotel Industry
AHLA | June 15, 2023
Eligibility changes protect loans to tens of thousands of hotels WASHINGTON (June 15, 2023) – American hotels will benefit from an important update to the Paycheck Protection Program (PPP). Following months of collaboration with the American Hotel & Lodging Association and hotel owners across the country, the Small Business Administration (SBA) issued new PPP eligibility guidelines today. The update clarifies that hotel owners who utilized third-party management companies and participated in PPP are eligible for PPP loan forgiveness for payroll expenses they paid via a management company. The changes SBA announced today will ens...
Hyatt to Debut Thompson Hotels Brand in Italy With Thompson Rome
Thompson Hotels | June 14, 2023
CHICAGO (June 14, 2023) – Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a franchise agreement with Botteghe Oscure s.r.l., a company affiliated with AG Group s.r.l., for the first Thompson Hotels property in Italy with Thompson Rome. Expected to open by mid-2024 in the heart of the Italian capital, the 70-room luxury lifestyle hotel will be the brand’s second property in Europe, joining Thompson Madrid, which opened in 2022, and the previously announced Thompson Vienna, which is slated to join the portfolio in 2025. Hyatt’s thoughtful expansion of the Thompson Hotels brand further bolste...
Six Senses Amaala Set to Launch in Saudi Arabia, as Kingdom’s Tourism Sector Undergoes Transformation
Six Senses | June 13, 2023
BANGKOK – June 13, 2023 – A landmark shift towards welcoming international visitors means Saudi Arabia is the fastest-growing tourism destination in the G20, thanks to its mix of history, heritage, culture, coral-fringed beaches, and sunshine. Deriving from the Arabic word for hope and the Sanskrit word for purity, Amaala embodies this transformation as part of Saudi Arabia’s Vision 2030 program to build a vibrant society, thriving economy, and ambitious nation. Spanning over 1,600 square miles (4,155 square kilometers) of an unspoiled nature reserve, this region is blessed with dramatic coastal scenery, majestic mountainous backdrop...
HighSide Companies Breaks Ground on Everhome Suites Glendale in Arizona
Choice Hotels® | June 13, 2023
ROCKVILLE, Md., June 13, 2023-- Choice Hotels International, Inc. (NYSE: CHH) continues its growth in the extended stay segment with the groundbreaking of the Everhome Suites Glendale. The property is being developed by HighSide Companies—a Denver-based development firm with more than 100 years of commercial real estate experience—with six Everhome Suites hotels currently completed or under construction, and additional projects in the due diligence phase. "We're excited to stand alongside HighSide Companies breaking ground on another Everhome Suites hotel as the brand continues its national expansion," said Ron Burgett, se...
Marriott International Continues Expansion of Protea Hotels by Marriott With Five New Deal Signings in Africa
Marriott International, Inc. | June 13, 2023
From the Africa Hospitality Investment Forum in Nairobi, Marriott International announced five deal signings in Africa under its Protea Hotels by Marriott brand. The signed projects reinforce the company’s commitment to expanding its presence across the continent and highlight the demand for the Protea Hotels by Marriott brand. “Protea Hotels by Marriott has a long-established legacy in Africa, and we are excited to further strengthen the brand’s footprint in the continent with these five signings,” said Karim Cheltout, Regional Vice President - Development, Africa & All-Inclusive, EMEA at Marriott International. “While we co...
Hard Rock Hotel & Casino Ottawa Celebrates Groundbreaking
Hard Rock | June 8, 2023
HOLLYWOOD, Fla., June 8, 2023 — Construction has officially started on Ottawa’s newest tourism and entertainment destination, the future Hard Rock Hotel & Casino Ottawa. A groundbreaking ceremony, with guests using Hard Rock’s legendary guitar-handled shovels, was held on June 6 at the Rideau Carleton Casino, Future Hard Rock where it will host the new state-of-the-art facility. From left to right: Steve Desroches, Jim Warren, Duncan Hannay, Goldie Ghamari, Helen MacMillan, Lisa MacLeod, Mark Sutcliffe, Jon Lucas, George Darouze, Andrew Wright Hard Rock International representatives, elected officials, and business and ...
Hilton Signs With Katarina Line to Open Keight Hotel Opatija, Curio Collection by Hilton
Curio Collection by Hilton | June 8, 2023
OPATIJA, Croatia and MCLEAN, Va – Hilton (NYSE: HLT) today announced the signing of a franchise agreement with Katarina Line d.o.o. to open Keight Hotel Opatija, Curio Collection by Hilton. Expected to open in 2024, the 54-guest-room hotel will be Curio Collection by Hilton’s first property in Croatia and the latest in a series of openings and signings of hotels in resort locations under the brand in Europe. The hotel will be operated by Zagreb City Hotels d.o.o., which currently operates three Hilton branded hotels in Croatia: Canopy by Hilton Zagreb City Centre, DoubleTree by Hilton Zagreb and Hilton Garden Inn Zagreb - Radnicka. ...
IHG Partners With Hotel Express Sofia Airport for Holiday Inn Express in Bulgaria
IHG Hotels & Resorts | June 8, 2023
IHG Hotels & Resorts, one of the world’s leading hospitality companies, has signed Holiday Inn Express Sofia Airport in partnership with Hotel Express Sofia Airport OOD, which further expands the company’s European estate, following a recent flurry of signings across a number of brands. Located in the Bulgarian capital, and within easy reach of the country’s largest international airport, Holiday Inn Express Sofia Airport will bring a reliable, familiar short-stay option for guests visiting one of Europe’s most thriving capital cities. Holiday Inn Express Sofia Airport will join InterContinental Sofia and Crowne Plaza Sofia to ...
IHG Signs With Akam Al Rajhi for First voco Resort in the Middle East and Africa Region
IHG Hotels & Resorts | June 7, 2023
Cairo, Egypt, 7th June 2023: IHG® Hotels & Resorts, one of the world’s leading hotel companies, has announced the signing of a Management Agreement with Akam Al Rajhi, a joint venture between AkamAlRajhi and Al Rajhi Saudi groups. With this signing, IHG continues to expand their footprint across the MEA region and diversify their portfolio, as part of the company’s ambitious growth strategy. With the voco hotel brand already well established in MEA, including locations in the UAE and KSA, the new signing marks the first voco resort in the region, and will cater to the growing leisure demand on Egypt’s North Coast. Stretching 1...
Eco Hometel Brand Expands Its Portfolio With room2 Belfast Opening Late Summer 2023
Lamington Group | June 7, 2023
June 2023 Real estate investor and developer Lamington Group is adding to its pioneering eco hometel brand with the exciting opening of room2 Belfast, the fourth outpost, and first property outside England, set to open later this summer. With the opening just a few months away, the team are giving a first look at the hometel, which is set to become a hub for the community in the heart of the bustling city, moments away from Belfast's most popular attractions. The new property will consist of 175 rooms across nine floors as well as a vibrant café, beautifully designed tea room, meeting and event spaces, a gym, bar, restaurant and a spac...
Hyatt Enters Agreement With LFG Property for First Caption by Hyatt Hotel in Australia
Caption by Hyatt | June 6, 2023
CHICAGO (June 6, 2023) – Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into management and related agreements with LFG Property Pty Ltd for a Caption by Hyatt hotel in Sydney, Australia. Slated to be completed in early 2025, this development will mark the debut of the Caption by Hyatt brand in the country, which offers a hotel experience grounded in the local community where the people make the place. The Caption by Hyatt brand strives to remix hospitality by combining the design and comfort of an upscale, lifestyle-forward hotel with the flexibility and self-guided options of a select-service...
Hyatt Partners With Grupo Murano for Hyatt Vivid Grand Island and Dreams Grand Island in Cancun
Inclusive Collection, part of World of Hyatt | June 6, 2023
CHICAGO (June 6, 2023) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Grupo Murano for Hyatt Vivid Grand Island, an adults-only resort and Dreams Grand Island, a family-friendly 616-room luxury resort. Both properties are expected to open in Cancun, Mexico in early 2024 within the Inclusive Collection, part of World of Hyatt. Hyatt Vivid Grand Island will mark the first Hyatt Vivid property in the Inclusive Collection portfolio. "These plans for the first Hyatt Vivid resort reflect the continued evolution of travel and Hyatt’s unwavering dedication to the all-...
Marriott International Signs Agreement With Hiap Hoe Limited to Bring the Aloft Hotels Brand to Singapore
Aloft Hotels | June 6, 2023
Aloft Singapore Novena, set to be the brand’s entry to Singapore and the largest Aloft in the world, is expected to open in Q3 2023 Marriott International, Inc. today announced it has signed an agreement with Hiap Hoe Limited, through HH Properties Pte. Ltd, to bring the design-forward Aloft Hotels brand to Singapore. Following a strategic conversion, the signing of the 785-room hotel expects to open in Q3 2023, marking the Aloft brand’s debut in Singapore and the largest Aloft hotel in the world. “We are thrilled to announce our third collaboration with Marriott International as we venture and introduce the first Alof...
Raffles Boston Set for Late Summer Opening in the City’s Back Bay
Raffles Hotels & Resorts | June 6, 2023
Boston, MA, 6 June 2023 -- One of Boston’s most exciting developments in decades, Raffles Boston, is set to open later this summer and announced today that the hotel will be available for booking beginning May 30, 2023 for stays beginning September 1, 2023. The property will mark the first mixed-use development in North America for the illustrious, world-renowned, 136-year old Raffles Hotels & Resorts brand, and writes a new story for Boston’s hospitality and real estate industries alike. The 35-story, $400 million+ LEED Gold building will be an urban oasis where global cultures and local influences converge. Offering an unprecede...
Marriott International Announces Plans to Expand in Affordable Midscale Segment With New Extended Stay Lodging Brand
Marriott International | June 5, 2023
Marriott International, Inc. (Nasdaq:MAR) announced today, in connection with the 2023 NYU International Hospitality Industry Investment Conference, its plans to further expand in the affordable midscale lodging segment, following its recent entry into the segment with City Express by Marriott in Latin America. Consistent with the company’s approach to meeting the needs of guests with regionally relevant lodging products for every stay purpose, Marriott is announcing its plans to launch a new brand, which has not yet been named, but is currently being referred to as Project MidX Studios. The affordable midscale extended stay brand is intend...
Vector Hospitality to Develop AC Hotel by Marriott and Tempo by Hilton in Downtown Knoxville
AC Hotels by Marriott | June 5, 2023
ATLANTA, GA JUNE 5, 2023 — Vector Hospitality, Inc., an Atlanta based hotel developer, is thrilled to announce its plans to develop two hotels, an AC Hotel by Marriott and Tempo by Hilton containing a spacious 275-space parking deck, totaling 337 rooms, in the vibrant heart of Downtown Knoxville. These ventures mark a significant milestone in the company’s growth and reflect Vector’s unwavering commitment to fueling economic growth and enriching the hospitality landscape within its cities. The decision to develop these projects stems from Vector’s vision of creating thoughtfully designed spaces that offer inviting ambiances with co...
My Place Hotels Enters Into Franchise and Development Agreement With Rimrock Companies for 10 Extended-Stay Hotels Throughout the South
My Place Hotels | June 1, 2023
ABERDEEN, SD — June 1, 2023 — My Place Hotels of America, an extended-stay hotel brand known for franchising clean and comfortable hotels with modern rooms, amenities, and excellent customer service, has entered into a two-phase franchise and development agreement with Rimrock Companies, a privately-held real estate development and investment company headquartered in Jacksonville, FL, for 10 extended-stay hotels throughout the South over the next six years. “We're honored to be partnering with the top extended-stay hotel brand in the business and grateful for the trust My Place Hotels has placed in us to develop a minimum of 10 ne...
Hyatt Centric Brand to Debut in Africa With Plans for Hyatt Centric Cairo West
Hyatt Centric | May 31, 2023
CHICAGO (May 31, 2023) – Hyatt Hotels Corporation (NYSE: H) announced today that affiliates of Hyatt and ALDAU Development have entered into a franchise agreement to bring the full-service lifestyle brand, Hyatt Centric, to Egypt, with Hyatt Centric Cairo West. The 283-key lifestyle hotel will become the second Hyatt-branded hotel in Cairo’s well-established Pyramids Heights Business Park, following the opening of Hyatt Regency Cairo West in 2021, further demonstrating Hyatt’s intentional brand growth in the Europe, Africa and Middle East region. “We are proud to work with ALDAU Development to bring the ...
Corinthia Hotels Signs Agreement to Open a Luxury Resort in the Maldives in Q4 2025
Corinthia | May 31, 2023
LONDON, May 31, 2023-- Corinthia has signed a hotel management agreement to operate a luxury resort in the Maldives in 2025. The developer of the luxury resort to be operated by Corinthia is Maarah Pvt Ltd, a Maldivian entity, affiliated with Maarah Holdings Ltd, a United Arab Emirates company registered within the Dubai International Financial Centre, being part of Niro Investment Group, one of the most prestigious investment companies in Romania, which is further strengthening its international operations, both in the Middle East and South Asia. Early works on reclamation and the first phase of the development of the resort lo...
Hyatt Announces Plans to Expand All-Inclusive Brand Footprint in Mexico With Secrets Playa Blanca Costa Mujeres
Hyatt Hotels Corporation | May 31, 2023
CHICAGO (May 31, 2023) – Hyatt Hotels Corporation (NYSE:H) today announced plans for the 509-room Secrets Playa Blanca Costa Mujeres, which is expected to open later this year, further expanding the Inclusive Collection in Mexico and strengthening Hyatt’s brand footprint. The new resort will join the Inclusive Collection, the world’s largest portfolio of luxury all-inclusive resorts comprised of ten distinct brands. Slated to open by the end of 2023, Secrets Playa Blanca Costa Mujeres will be located along a secluded strip of the Costa Mujeres shoreline, just 12 miles north of Cancun, Mexico. Situated on a pristine white-sand beac...
IHG Hotels & Resorts Breaks Ground on New Miami EVEN Hotels Property
IHG Hotels & Resorts | May 30, 2023
ATLANTA (May 30, 2023) – IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, recently celebrated the ceremonial groundbreaking of its new EVEN Hotels property in suburban Miami. Located within the vibrant and growing Miami community of the same name, EVEN Hotel Sweetwater – Doral is projected to open in time for the busy summer travel season in 2024. EVEN Hotel Sweetwater – Doral will feature key elements of the brand’s recently introduced refreshed prototype, all aimed at putting “Wellness within Reach” for travelers and enabling them to restore, rejuvenate and retain their unique personal routines...
