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
Hospitality Financial Leadership: Managing F&B Expenses and How to Record Them on Your P&L
David Lund | September 30, 2024
As I have said in many of my earlier posts, Food and Beverage is special. And I mean that with all sincerity because it's an integral part of our business especially with a full service offering. However, there are challenges that we need to overcome and one big one is how to report the profit and loss activity so that it is as meaningful as possible. I say “possible” because there are no absolute methods to get 100% of the picture that really work. Many try to get and stay on top of their costs and payroll and that’s the right thing to do. The reality is that it’s never going to be perfect. It’s not going to be perfect because w...
IHG Signs Agreement with Dubai-based The First Group as World’s Tallest All-Hotel Tower Joins Vignette Collection Portfolio
IHG Hotels & Resorts | September 26, 2024
Dubai, UAE, September 26th 2024: IHG Hotels and Resorts, one of the world’s leading hotel companies, has announced the signing of a new Vignette Collection property which is set to be the tallest all-hotel tower in the world when it opens in Dubai next year. The agreement will see the launch of Ciel, Vignette Collection, offering an unsurpassed lifestyle experience in the Marina. The landmark Ciel, under the ownership of The First Group and the management of The First Group Hospitality, is a multistorey high-rise hotel with 80-plus floors based in Dubai Marina. With construction rapidly advancing and the building already topped out, t...
IHG Hotels & Resorts Signs First Garner Hotel in Türkiye
IHG Hotels & Resorts | September 26, 2024
26.09.24 (London, UK): IHG Hotels & Resorts, one of the world’s leading hotel companies, announces the signing of its first Garner hotel in Türkiye in a franchise agreement with FRT Turizm and support by AB Consulting led by Ahmet Bilgin. The 126-guestroom hotel will consist of four separate buildings and is expected to open in 2025. The signing comes just one month after IHG held its Turkish Investor Day and introduced the Garner brand to the market. Garner is IHG’s new brand in the midscale conversion space. It builds on both the company’s leading position in the Mainstream segment and its success in launching and growing conv...
YOTEL Unveils Plans to Build YOTEL Belfast in the U.K.
YOTEL | September 26, 2024
The global hotel brand has unveiled plans to launch its eighth property in the United Kingdom and its first on the island of Ireland, in partnership with Northern Ireland's largest hotel group, Andras Hotels LONDON, Sept. 26, 2024 -- YOTEL has announced plans to expand its portfolio in the UK and Europe with the opening of YOTEL Belfast. Slated to open in late 2026, the new-build hotel will be situated in the historic Shaftesbury Square in central Belfast, just minutes' walk from some of the city's most popular attractions, including Queen's University and the Botanic Gardens. Rohan Thakkar, Chief Development Officer at YOTEL, commen...
November Opening is Set for Grand Hyatt Deer Valley in Park City, Utah
Grand Hyatt | September 26, 2024
PARK CITY, UTAH (September 26, 2024) – Grand Hyatt Deer Valley will set a new standard of mountain adventure and hospitality as it anticipates welcoming its first guests in November 2024. This beautiful resort marks the debut of Deer Valley East Village and offers an exclusive first look at the expansive new terrain of Deer Valley. The new hotel will feature approximately 400 luxury accommodations, including 100 discounted rooms reserved nightly for our country’s service members, multiple exciting food and beverage experiences, and one of the largest mountainside event facilities in the U.S. In addition to Deer Valley’s expanded ski te...
Dusit International Partners with Paljor Global Corp for South Asian Expansion
Dusit International | September 26, 2024
Building on their successful collaboration at Dusit Princess Kathmandu hotel, both companies aim to introduce more Dusit brands and businesses in Nepal – and throughout the region. Bangkok, Thailand, 26 September 2024 – Dusit International, one of Thailand’s leading hotel and property development companies, has signed a strategic partnership agreement with Paljor Global Corp Private Limited, a leading Nepalese investment firm and luxury carpet manufacturer, to seek opportunities to introduce Dusit’s diverse offerings in Nepal and throughout South Asia. Building on their successful collaboration at Dusit Princess Kathmandu—ow...
The Wildbirch Hotel is on Track to Open in Early 2025 in Anchorage, Alaska
THE WILDBIRCH HOTEL | September 26, 2024
ANCHORAGE, Alaska – Sept. 26, 2024 – Slated to open in early 2025 in the heart of Anchorage’s downtown Mushing District, The Wildbirch Hotel will offer guests a truly unique experience as the city’s first boutique property and newest lodging option in 20 years. The Wildbirch Hotel is anticipated to be the first JdV by Hyatt property in Alaska and is situated amidst the vibrant energy of the burgeoning West Fourth Avenue corridor. The hotel will serve as both a community hub and a centrally located basecamp for travelers seeking the full spectrum of Alaska adventure. The hotel will feature 252 modern and design-forward accommodatio...
Portland Maine’s Historic Landmark Building to be Transformed into Independent Hotel
Fathom Companies | September 26, 2024
PORTLAND, Maine, September 26, 2024 - Local developers plan to transform the former Fidelity Trust Building at 465 Congress Street into a historic hotel that captures the beauty and detail of its 1910 architecture. Fathom Companies, in partnership with SwingPoint Development, will lead the historic Portland landmark’s restoration, which will match the style and level of historic preservation of the award-winning Press Hotel, which it developed and operates. “When we restore historic buildings, we revitalize neighborhoods and promote local businesses while protecting our environment,” said Jim Brady, president of Fathom Companies. “...
Hyatt Unveils Plans for Hyatt Regency Samarafushi Maldives
Hyatt Regency | September 26, 2024
SINGAPORE (26 September, 2024) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with SingHaiyi for Hyatt Regency Samarafushi Maldives. Located in the picturesque North Malé Atoll, Hyatt Regency Samarafushi Maldives will mark Hyatt Regency’s brand entry into the Maldive Islands. Slated to open in late 2027, the new all-villa resort will join Park Hyatt Maldives Hadahaa and Alila Kothaifaru Maldives as the third Hyatt property in the Republic of Maldives. “The Hyatt Regency brand is rooted in a culture of bringing people together and fostering a spirit of community. F...
Hyatt Unveils Plans for Hyatt Regency Samarafushi Maldives in Partnership With SingHaiyi
Hyatt Regency | September 25, 2024
CHICAGO (September 25, 2024) – Hyatt Hotels Corporation announced today that a Hyatt affiliate has entered into a management agreement with SingHaiyi for Hyatt Regency Samarafushi Maldives. Located in the picturesque North Male Atoll, Hyatt Regency Samarafushi Maldives will mark Hyatt Regency’s brand entry into the Maldive Islands. Slated to open in late 2027, the new all-villa resort will join Park Hyatt Maldives Hadahaa and Alila Kothaifaru Maldives as the third Hyatt property in the Republic of Maldives. “The Hyatt Regency brand is rooted in a culture of bringing people together and fostering a spirit of community. For more tha...
YOTEL To Open New Hotel in Belfast City Centre
YOTEL | September 25, 2024
London, UK – 25 September 2024 – YOTEL has announced plans to expand its portfolio in the UK and Europe with the opening of YOTEL Belfast. Slated to open in late 2026, the new-build hotel will be situated in the historic Shaftesbury Square in central Belfast, just minutes’ walk from some of the city’s most popular attractions, including Queen’s University and the Botanic Gardens. Rohan Thakkar, Chief Development Officer at YOTEL, comments: “We are delighted to bring YOTEL to Belfast, a city that shares our unwavering passion for innovation and creativity. YOTEL Belfast marks an exciting step forward in our global franchise str...
Hyatt Partners With Destination Gold Coast Consortium for First Andaz Hotel in Australia
Hyatt Hotels Corporation | September 24, 2024
CHICAGO, (September 24, 2024) – Hyatt Hotels Corporation (NYSE: H) announced today that Hyatt has entered into agreements with Destination Gold Coast Consortium for an Andaz resort in the Gold Coast, Australia. Destination Gold Coast Consortium is a joint venture between parent company, The Star Entertainment Group, and its two partners, Far East Consortium and Chow Tai Fook Enterprises. Andaz Gold Coast will be part of an integrated resort masterplan, The Star Gold Coast. Slated to open in mid-2025, the hotel will mark the debut of luxury lifestyle brand Andaz in Australia and the Pacific region. “We are thrilled to announce plans t...
Marriott International Signs Agreement With Sands China to Bring The Luxury Collection Brand to Macao
Marriott International, Inc. | September 24, 2024
Marriott International, Inc. and Sands China Ltd. are set to redefine luxury in Macao with the signing of an agreement to debut The Luxury Collection brand to the market. Anticipated to open in January 2025, Londoner Grand, a Luxury Collection Hotel, Macao is poised to cater to the world’s discerning travelers, blending the brand’s authentic take on luxury with the city’s local charm to provide a unique and enriching travel experience. “We are thrilled to work with Sands China Ltd. to bring the first Luxury Collection Hotel to Macao, a destination that continues to attract travelers across the globe,” said Gavin Yu, Chief Develo...
Accor Signs Three Hotels With Over 1,300 Keys in Singapore
Accor | September 23, 2024
SINGAPORE - Accor, a global leader in hospitality, continues its strong growth trajectory in Singapore with the signing of two new-build properties with three hotel brands set to open by 2027 with its long-standing partners, Fragrance Group Limited and Global Premium Hotels Limited, both owned by Koh Wee Meng. This landmark agreement will introduce Mövenpick Singapore, the largest Mövenpick hotel in Asia Pacific, the first Mövenpick Living in Singapore, and a Handwritten Collection branded hotel situated alongside the city-state’s famed and culturally rich Waterloo Street. These new signings reaffirm Accor's position as the preferre...
Sonesta Executes Deal With Jarabacoa Hotel Construction for Five Sonesta ES Suites in Dominican Republic
Sonesta International Hotels | September 20, 2024
NEWTON, MA [September 20, 2024] – Sonesta International Hotels Corporation (Sonesta) today announced the execution of a deal to open five Sonesta ES Suites hotels in the Dominican Republic. The first property, Sonesta ES Suites ELEMENTS Jarabacoa, is scheduled to open in the first trimester of 2026 with the remaining four hotels to be completed within seven years. Sonesta ES Suites ELEMENTS Jarabacoa, an upscale, extended stay hotel, will be located in the La Vega province, surrounded by mountain views and at an altitude of 595 meters. The hotel will be in a region known for its annual flower festival celebration and bordered by four lar...
Global Travel and Tourism Sector Deal Activity Fell by 12.6% YoY During January-August 2024
GlobalData | September 19, 2024
A total of 456 deals (mergers and acquisitions (M&A), private equity and venture financing) were announced in travel and tourism sector for the period of January to August 2024, which was a year-on-year (YoY) decline of 12.6% in deal volume, according to GlobalData, a leading data and analytics company. An analysis of GlobalData’s Deals Database revealed that the travel and tourism sector saw the announcement of a total of 522 deals during January-August 2023. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel and tourism sector’s deal activity reflects a cautious approach by deal-makers even though the reg...
IHG Hotels & Resorts Lands Quadruple Spanish Signing
IHG Hotels & Resorts | September 19, 2024
19.09.24 (London, UK): The growth of IHG Hotels & Resorts, one of the world’s leading hotel companies, continues in Spain with the signing of four hotels: Vignette Collection Mallorca – Finca Banyols, Vignette Collection Jerez, Hotel Indigo Gandia – Beach, and Holiday Inn Express San Sebastian – Errenteria. This builds on the 500 rooms added to IHG’s Spanish portfolio earlier in the year, taking the total of open and signed rooms to nearly 13,000 in the country. Hotel Indigo Gandia – Beach and Vignette Collection Jerez expand the company’s Luxury & Lifestyle presence in the market, with the latter becoming the ...
Six Senses Coming to Western Pennsylvania’s Allegheny River Valley
Six Senses | September 18, 2024
ATLANTA, GA – September 18, 2024 – Situated on a sprawling wooded ridge at the confluence of the Allegheny and Clarion rivers, Six Senses RiverStone Estate will mark the next chapter in one of the region’s cultural and architectural treasures. Marking the latest milestone in the brand’s thoughtful entry into the Americas market, this picturesque country estate will echo the Six Senses ethos of wellness and sustainability, while offering guests and owners a community for connection and reflection. Located outside the quaint Western Pennsylvania town of Foxburg, just 90 minutes north of Pittsburgh, the property is in close proximit...
IHG Signs With MGC Developments To Launch Holiday Inn & Suites Islamabad DHA II
IHG Hotels & Resorts | September 17, 2024
Islamabad, Pakistan – 17 September 2024: IHG® Hotels & Resorts, one of the world’s leading hotel companies, is expanding its footprint in Pakistan by signing a franchise agreement with MGC Developments to launch Holiday Inn & Suites Islamabad DHA II. Scheduled to open in August 2028, the 150-key hotel in Pakistan’s capital will join IHG’s portfolio of more than 1,000 operational Holiday Inn hotels globally. A pioneer brand with a rich heritage, Holiday Inn has continued to evolve through the years, keeping the guest at the heart of all innovation and earning its status as one of the world’s most loved, trusted and rec...
Where Your Hotel’s Finance Team Should Be at This Point in Budget Season
Jill Wilder | September 17, 2024
By Jill Wilder, President of Aptech It’s that time of year – budget season. "Budget" – even the word sounds daunting to most people. The good news is the budgeting process for your hotel doesn't have to be overly difficult. The key assets when building a budget for your hotel company are: ✓ Organization ✓ Teamwork – with all departments supplying their input and information without delay. ✓ Hotel-specific software – to help your finance team gather accurate data across your portfolio and easily provide their recommended budget on time. Let's Start with the Basics A hotel budget is essentially a financial plan and strat...
IHG Hotels & Resorts Signs First Vignette Collection in Spain with the Vignette Collection Mallorca – Finca Banyols
IHG Hotels & Resorts | September 12, 2024
12.09.24 (London, UK): IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, will introduce its Vignette Collection brand to Spain following an agreement with Prevario Banyols [Owner] and Hotel Collection International - HCI [Management]. Vignette Collection Mallorca – Finca Banyols illustrates IHG’s growth in Spain, adding to our presence with nine Luxury and Lifestyle hotels in the country. The hotel joins a growing portfolio of Vignette Collection properties around the world, which is set to reach 100 hotels in 10 years, bolstering IHG’s luxury and lifestyle portfolio, one of the world’s largest. Poise...
Development Launched for Kimpton Xujiahui Shanghai in China
IHG Hotels & Resorts | September 12, 2024
September 12, 2024, Shanghai —IHG Hotels & Resorts today announced a new partnership with Hang Lung Group for its Luxury & Lifestyle brand, Kimpton Hotels & Restaurants. Scheduled to open by the end of 2026, the upcoming Kimpton Xujiahui Shanghai will be located at the Grand Gateway 66, a premier destination for global luxury brands, in the vibrant Xujiahui commercial hub. This strategic collaboration marks a significant milestone for Kimpton Hotels & Restaurants in Greater China and a pivotal move for IHG in expanding its portfolio of Luxury & Lifestyle brands in first-tier cities, strengthening its presence in the luxu...
Omni Hotels & Resorts Partners with Midland Downtown Renaissance, LP to Develop a Convention Hotel in Downtown Midland, Texas
Omni Hotels & Resorts | September 12, 2024
DALLAS, TX (September 12, 2024) - Omni Hotels & Resorts has signed a development agreement with Midland Downtown Renaissance, LP, a collaborative effort by leading Midland-based companies, foundations and investors, to develop and manage a highly anticipated 135-room luxury hotel in the heart of downtown Midland, Texas. Omni, whose headquarters are in Dallas, is excited to expand upon its Texas presence with the addition of the Omni Midland Hotel – Omni’s 12th hotel in the state. The hotel plans include approximately 15,000 square feet of meeting space, a 7,000 square-foot ballroom, 135 guest rooms, a spa, a rooftop pool, a lobby ...
Kimpton Hotels & Restaurants Enters Partnership with Extell Development Company to Launch NYC Development
IHG Hotels & Resorts | September 12, 2024
Kimpton Hotels & Restaurants, part of IHG Hotels & Resorts’ luxury and lifestyle portfolio, today announces plans for a new boutique luxury hotel in New York City. Marking the brand’s third hotel in the market, Kimpton Rockefeller Center will serve as a stylish gateway to quintessential New York from the heart of one of the city’s most sought after destinations. Developed in partnership with Extell Development Company, the hotel is set to open in late 2025. Perfectly positioned at Rockefeller Center’s doorstep with a bird’s eye view of the bustling plaza below, the 33-story hotel will be brought to life by New York City-...
