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
Marriott, Hilton, and IHG Continue to Dominate the U.S. Hotel Construction Pipeline
Lodging Econometrics (LE) | May 2, 2023
May 2, 2023 – PORTSMOUTH, NH In the recently released United States Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts detailed the leading franchise companies and their brands in the construction pipeline at the close of the first quarter. Marriott International (Marriott) tops the charts with the greatest number of projects in the U.S. hotel construction pipeline, at Q1 2023, with 1,499 projects/181,377 rooms, followed closely by Hilton Worldwide (Hilton), with a record-high count of 1,436 projects/161,359 rooms, and then InterContinental Hotels Group (IHG) with 809 projects/80,679 rooms. Combined, these three fra...
IHG Plans Fall 2023 Opening of Kimpton Hotel Theta in New York City
IHG Hotels & Resorts | May 1, 2023
ATLANTA (May 1, 2023) – Kimpton Hotels & Restaurants, part of IHG Hotels & Resorts’ luxury & lifestyle portfolio, announced today it will open a new boutique hotel in New York City, marking the brand’s second in the market. Set to open in fall 2023, Kimpton Hotel Theta will serve as an oasis for business and leisure guests seeking respite in the heart of the city’s Theater District. Designed to serve as a gateway to quintessential New York, Kimpton Hotel Theta will offer a sense of retreat in every environment. An adaptive re-reuse of an existing mixed-use hotel, the new Kimpton Hotel Theta was originally imagined by Mo...
Year-Over-Year Growth in the Hotel Construction Pipeline for the Top 25 U.S. Markets as a Group
Lodging Econometrics (LE) | May 1, 2023
May 1, 2023 – PORTSMOUTH, NH In the Q1 2023 U.S. Construction Pipeline Trend Report released by Lodging Econometrics (LE), LE analysts report, that as a group, year-over-year the hotel construction pipeline has grown in the Top 25 Markets in the U.S. The top five U.S. markets with the largest hotel construction pipelines at the close of the first quarter are led by Dallas with, record-high project and room counts of 184 projects/21,810 rooms. Following are Atlanta with 144 projects/18,242 rooms, Los Angeles with 118 projects/19,066 rooms, Phoenix with 117 projects/16,100 rooms, and Nashville with 115 projects/15,354 rooms. Markets with t...
Four Seasons Continues Middle Eastern Expansion With Island Resort on Sindalah in NEOM, Saudi Arabia
Four Seasons Hotels and Resorts | April 27, 2023
Located on NEOM’s luxury island destination, new Resort will be part of a bold vision for shaping a new frontier for hospitality Four Seasons Hotels and Resorts, the world’s leading luxury hospitality company, and Hotel Development, the NEOM division that is responsible for building a future-centric hospitality ecosystem in the developing region, have announced plans for a new luxury resort as part of the NEOM master project, located on Sindalah Island. Extending over an area of approximately 840,000 square metres (9,041,684 square feet), Sindalah is one of a group of islands in the Red Sea that will be developed in NEOM, each accor...
Rosewood Hotels & Resorts to Debut in the Maldives With Rosewood Ranfaru
Rosewood Hotels & Resorts | April 27, 2023
HONG KONG, April 27, 2023 -- One of the most coveted island destinations on the planet, the Maldives is considered by many to be the ultimate luxury wanderlust experience. This picturesque archipelago boasts bright white sands, warm calm waters and a standard of hospitality that is second to none. Now, having achieved worldwide recognition as a preeminent tropical paradise, the Maldives is looking toward the future with an eye on longevity and sustainability, making the destination a natural fit for the unique approach to luxury lifestyle offered by Rosewood Hotels & Resorts®. Rosewood Ranfaru, opening on the islands in 2027, is the...
Sleep Inn Previews Next-Generation Prototype Emphasizing Modern Design and Guest Wellbeing
Choice Hotels International, Inc. | April 27, 2023
ROCKVILLE, Md., April 27, 2023 -- Sleep Inn, a leading new construction midscale brand from Choice Hotels International, Inc. (NYSE: CHH) known for its stylish, nature-inspired design and cost-effective operating model, is getting a new look following the debut of the brand's next-generation prototype, expected to be completed and rolled out by the end of 2023. Announced during Choice Hotels' 67th Annual Convention to provide developers with a sneak-peek of what they can expect from the modern, design-forward prototype, the new hotel option underscores the company's' commitment to continually innovating new products that resonate with tra...
Wyndham Hotels & Resorts Reports Strong First Quarter 2023 Results
Wyndham Hotels & Resorts | April 27, 2023
Company Grows Development Pipeline by 11% and Global RevPAR by 12%; Raises Full-Year 2023 Outlook PARSIPPANY, N.J., April 27, 2023 -- Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2023. Highlights include: Global RevPAR grew 12% compared to first quarter 2022 in constant currency. U.S. RevPAR grew 4% compared to first quarter 2022. System-wide rooms grew 4% year-over-year, including 1% of growth in the U.S. and 9% of growth internationally. Development pipeline grew 11% year-over-year to 226,000 rooms, and signings increased 7%, excluding ECHO Suites Exte...
New Holiday Inn Express & Suites Roseburg to Open Spring of 2025 in Oregon
Mereté Hotel Management | April 27, 2023
(Roseburg, OR) Mereté Hotel Management and Hanna Hospitality LLC, have partnered to open a new Holiday Inn Express & Suites in Roseburg, Oregon. The hotel will be located in Hanna Heritage Place that sits between I-5 and Mulholland Drive at exit 125, providing easy access to all areas of town. As the second partnership between Mereté and Hanna Hospitality LLC, this new hotel will join the nearby Hampton Inn & Suites Roseburg as part of the growing area's hotel offerings. This Holiday Inn Express & Suites will offer 102 guest rooms designed to deliver a great night’s sleep and will embody the brand statement of “Simple Sma...
Radisson Hotel Group Signs Master Development Agreement With SM Hotels & Conventions
Radisson Hotel Group | April 26, 2023
SMHCC develops and manages the hotel and convention properties of SM Prime Holdings, Inc. (SMPH), one of the largest integrated property developers in Southeast Asia. This latest agreement builds on the long-term partnership between these two forward-thinking companies, which commenced in November 2010 with the launch of Radisson Blu Cebu and the opening of five Park Inn by Radisson hotels over the last decade. As part of the strategic alliance, both Radisson Hotel Group and SMHCC drive the expansion of its Philippines portfolio through the Radisson Blu, Radisson and Park Inn by Radisson brands, which will be built alongside its integrated...
Hilton Reports 2023 First Quarter Results; Raises Full Year Outlook
Hilton | April 26, 2023
MCLEAN, VA - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its first quarter 2023 results. Highlights include: Diluted EPS was $0.77 for the first quarter, and diluted EPS, adjusted for special items, was $1.24 Net income was $209 million for the first quarter Adjusted EBITDA was $641 million for the first quarter System-wide comparable RevPAR increased 30.0 percent, on a currency neutral basis, for the first quarter compared to the same period in 2022 System-wide comparable RevPAR increased 8.0 percent, on a currency neutral basis, for the first quarter compared to the same period in 2...
First 19 Development Projects Announced Under Marriott’s Bridging the Gap Program
Marriott International | April 26, 2023
As part of Marriott International’s (Nasdaq: MAR) ongoing commitment to diversity, equity and inclusion, the company today announced that the first 19 projects receiving financial support and other incentives through “Marriott’s Bridging the Gap” program will include the company’s Aloft Hotels, Autograph Collection, Fairfield Inn & Suites, Residence Inn, SpringHill Suites, TownePlace Suites and Tribute Portfolio brands. The program, announced in 2022 with a $50 million initial investment from Marriott, aims to build a more diverse Marriott owner and franchisee community by addressing barriers to entry in hotel ownership among hi...
The ROMEO Collection to Launch Second Hotel in October 2023
The Romeo Collection | April 24, 2023
Rome (24 April 2023) - Announced today, The ROMEO Collection will be opening its second project, ROMEO Roma in October 2023. Situated just steps away from Piazza del Popolo in Rome’s city center, ROMEO Roma will bring luxury, art and fine dining to the city in a reimagined way. The hotel will be one of the last projects from world-renowned Iraqi-British architect, Zaha Hadid and will perfectly blend the prestige of history with the avant-garde of contemporary architecture. “The basis of the Romeo Collection is built on creating spaces that masterfully integrate worldly art collections, contemporary design and breathtaking architecture, s...
Hospitality Financial Leadership – Why Technology Has the Hotel Business Bootstrapped
David Lund | April 24, 2023
By David Lund Bootstrapping is a statistical metric that uses random sample replacements. That definition is not for me, so bootstrapping also has a broader slang meaning that most people get. It means you are stuck or at least unable to take big strides to alleviate or remove the problem that is literally at your feet. In the hotel world it is the operational technology stack that has us all bootstrapped. That is what this piece is all about. How we find ourselves in this predicament and how we might be able to literally run away from it. To understand and begin to solve this problem we need to look at our structure. In the broad...
Q1 2023 Major U.S. Hotel Sales Survey
Daniel Lesser | April 21, 2023
By Daniel Lesser With continued elevated levels of inflation and interest rates, and fears of an impending economic recession, the U.S. commercial real estate industry continues to find itself in choppy waters. The recent stunning and swift collapse of Silicon Valley Bank (SVB), and subsequent failures of Signature Bank (SB), and Credit Suisse Group AG (CS) has created a perceived credit crunch now rippling across the global financial system. The SVB implosion was caused by a three-year monetary policy that began during the COVID pandemic and included enormous sums of government stimulus and near-zero interest rates resulting in a bloat...
Hotel Construction Down Across World Regions
STR | April 21, 2023
LONDON—Each of the four world regions showed a year-over-year decline in hotel construction activity, with Asia Pacific coming closest to its 2022 comparable, according to March 2023 pipeline data from STR. March 2023 (% changes in comparison with March 2022): Europe In Construction: 184,851 rooms (-18.2%) Final Planning: 133,580 rooms (-15.9%) Planning: 156,095 rooms (-5.4%) Total Under Contract: 474,526 (-13.7%) Germany (34,030) and the U.K. (29,160) lead Europe in total rooms in construction. Asia Pacific In Construction: 476,993 rooms (-0.8%) Final Planning: 105,435 rooms (-29.6%) Planning: 322,507 ...
Royal Commission for AlUla (RCU) Partners With GHM to Develop The Chedi Hegra Within the Hegra UNESCO World Heritage Site
GHM | April 21, 2023
AlUla, Saudi Arabia, 21 April 2023 – Surrounded by awe-inspiring human and natural heritage, The Chedi Hegra will be the first hotel to welcome guests to a uniquely authentic luxury experience deep in the ancient Nabataean site in north-west Saudi Arabia. The Royal Commission for AlUla (RCU) has selected luxury hotel management company General Hotel Management Ltd (GHM) to operate the hotel as The Chedi Hegra. Situated within Saudi Arabia’s first UNESCO World Heritage Site and opening by Q4 2023, The Chedi Hegra will offer 35 bespoke guest rooms, each with its own distinct connection to the Hegra landscape, a breath-taking testimony...
AJ Capital Partners Acquires Property for Conversion to Graduate Austin
Graduate Hotels | April 20, 2023
Nashville, Tenn., April 2023 - Adventurous Journeys (AJ) Capital Partners announced today an acquisition in downtown Austin which will be home to the forthcoming Graduate Austin, part of the Graduate Hotels®️ collection. The property, located at Guadalupe Street and West 18th Street, is conveniently situated in the heart of downtown, just steps from the University of Texas campus and Texas Capitol Mall. Upon completion, the 18-story hotel is expected to open in 2025. Created for travelers who seek memory-making journeys, Graduate Hotels is a thoughtfully crafted collection of hotels that reside in the most dynamic university-anchore...
IHG Bringing Vignette Collection to UK With Signing of The Halyard at Ropewalks Liverpool
IHG Hotels & Resorts | April 20, 2023
Vignette Collection is IHG Hotels & Resorts’ first collection brand and is a family of one-of-a-kind properties in sought-after urban and resort locations where guests can indulge in a growing passion for stays that are authentic, experiential and considerate. Here for the next generation of luxury travellers seeking both discovery and purpose, Vignette Collection weaves responsibility, community and locality together for stays that are as distinct as the hotels themselves. The Halyard at Ropewalks Liverpool, Vignette Collection will open later this year under a franchise agreement with Molo Hotels and will be operated by Lighthouse ...
Pendry Hotels & Resorts Unveils Plans for First International Resort and Residences: Pendry Barbados and Pendry Residences Barbados
Montage International | April 19, 2023
ORANGE COUNTY, CALIF. (April 19, 2023) – Pendry Hotels & Resorts today announced the development of Pendry Barbados andPendry Residences Barbados, slated to debut in 2026. The first international destination from Pendry Hotels & Resorts, this island oasis will bring Pendry’s signature sensibilities and contemporary luxury offerings to a stunning Caribbean setting in St. Peter, on the country’s coveted west coast. Pendry Hotels & Resorts will reimagine the existing Port Ferdinand Luxury Marina & Residences, and will develop a new luxury beachfront resort and residences with architect, Robert Glazier, and a U.S.-based...
Minor Hotels Expanding Avani Brand in Europe & Latin America With Addition of Seven Properties by Mid-2024
April 19, 2023
Madrid, 19 April 2023: Minor Hotels, an international hotel owner, operator and investor with more than 530 hotels in 56 countries in Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe, South America and North America, has announced the expansion in Europe of its lifestyle brand targeted at millennial-minded travellers: Avani Hotels & Resorts. Designed for guests that prioritise service, style and value, Avani is characterised by functional design and unique service offerings. Part of a strategic expansion of the brand into new regions of operation, Avani will add five properties in key cities in Europe – one in Spa...
Marriott Signs With Vinpearl for Seven Hotels in Vietnam Comprising More Than 2,500 Rooms
Marriott International, Inc. | April 19, 2023
Marriott International, Inc. today announced that it has signed agreements with Vinpearl, Vietnam’s largest hospitality and leisure chain, for an additional seven hotels and resorts, comprising more than 2,500 rooms. These seven hotels add to the eight hotels announced in 2022, when Marriott first entered into agreements with Vinpearl. With today’s announcement, Vinpearl is expected to be Marriott’s largest owner in Vietnam with 15 hotels and resorts. “This signing marks another milestone in our collaboration with Vinpearl, and we are delighted to strengthen our collaboration with these additional signings,” highlighted Rajeev Me...
Hyatt Hotels Announces Hyatt Studios, First Upper-Midscale Brand in the Americas
Hyatt Hotels Corporation | April 18, 2023
CHICAGO (April 18, 2023) – Hyatt Hotels Corporation (NYSE: H) today announces plans for Hyatt Studios, the newest addition to Hyatt’s portfolio of brands. The brand, which marks Hyatt’s entry into upper-midscale lodging in the Americas, was conceived through direct collaboration with hotel developers and listening closely to the needs of target guests. The announcement is supported by signed letters of interest in development agreements from multiple developers for more than 100 Hyatt Studios hotels, with construction expected to begin in 2023 and the first hotel expected to open in 2024. The immediate interest from the developmen...
IHG Signs With Al Woroud Real Estate to Bring Holiday Inn Express to Saudi Arabia
IHG Hotels & Resorts | April 18, 2023
Riyadh, Saudi Arabia, 18 April 2023: IHG® Hotels & Resorts, one of the world’s leading hotel companies with more than 6,000 hotels, across 18 distinct brands, has signed a management agreement with Riyadh-based Al Woroud Real Estate to bring one of the world’s largest and most loved hotel brands, Holiday Inn Express, to the Kingdom. The latest signing will strengthen the company’s mainstream offering in Riyadh and provide an elevated, smart offering to cater to new international and Saudi guest segments, as part of Saudi Vision 2030 strategy for tourism. Holiday Inn Express champions simple, smart travel by providing a launch p...
Travel and Tourism Sector Deal Activity Down 40.7% YoY in Q1 2023, Finds GlobalData
GlobalData | April 17, 2023
A total of 179 deals* were announced in the global Travel and Tourism sector during the first quarter (Q1) of 2023, which is a 40.7% decline compared to the announcement of 302 deals during the same period in 2022, according to GlobalData, a leading data and analytics company. All the deal types under coverage witnessed a considerable year-on-year (YoY) decline in deal volume in Q1 2023. The numbers of merger & acquisitions (M&A), venture financing, and private equity deals fell by 42.9%, 29.4% and 50% during Q1 2023 compared to Q1 2022, respectively. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Deal activity in t...
