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
The Lux Collective Signs With P Q Hai Quoc Joint Stock Company to Develop LUXNAM* Phu Quoc in Vietnam
October 10, 2022
HO CHI MINH CITY, Vietnam, Oct. 10, 2022 -- Global hospitality group The Lux Collective and P Q Hai Quoc Joint Stock Company have signed a hotel management agreement to build a luxury overwater resort under the LUX* Resorts & Hotels brand on the island of Phu Quoc, Vietnam. Named LUXNAM* Phu Quoc, the resort is set in one of Asia's most sought-after destinations and is expected to open in late 2024. The Lux Collective Signs First Southeast Asia Hotel Management Agreement in Vietnam "We are honoured to partner with the P Q Hai Quoc Joint Stock Company to manage this new built overwater resort located on t...
Hospitality Financial Leadership: What Really Counts and Why
David Lund | October 10, 2022
By David Lund If you do not have all three of these metrics on your radar screen at the same time, you are flying the profit picture in your food operation with at least one eye closed. All three metrics must work together at the same time to get the best view of the potential profitability of your food sales. Let’s explore these three different measurements and see what we find. Average Customer Cover The first part is “average customer cover spend” or ACCS. That is the average amount of food sales per person served. To calculate this, you take the total food sales (only items in the food family) from a given period and divide...
Fairfield by Marriott Expands Global Footprint with Expected Debut in Europe and the Middle East
Fairfield by Marriott | October 6, 2022
Marriott International, Inc., today announced plans to debut the Fairfield by Marriott® brand in Europe and the Middle East by late 2023. Fairfield is the second largest brand within Marriott Bonvoy’s® extraordinary portfolio of 30 hotel brands, with a global footprint of more than 1,230 open hotels. “We are thrilled to launch Fairfield by Marriott in Europe and the Middle East, continuing the growth of this trusted brand,” said Eric Jacobs, Senior Vice President and Global Brand Leader, Select Brands. “Fairfield is celebrated with a unique legacy in the Marriott Bonvoy portfolio. Built on principles of warmth, comfort, and sim...
Hyatt to Enter Exclusive Collaboration Agreement With Lindner Hotels AG to Increase Footprint in Germany and Key European Leisure Destinations
Hyatt Hotels Corporation | October 6, 2022
CHICAGO (October 6, 2022) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into an exclusive collaboration agreement with Lindner Hotels AG, a family-run German hospitality business, focused on hotel developments, management and investments. It is expected that more than 30 hotels across seven European countries will join the Hyatt brand portfolio and will be integrated into the World of Hyatt loyalty program in the near future. The majority of the properties are slated to transition to the JdV by Hyatt brand, a collection of independent hotels with unique personalities and a true reflection of...
IHG Signs Agreement at Expo Real With Solutions4Hotels to Develop 10 New Hotels in Germany
IHG Hotels & Resorts | October 5, 2022
IHG® Hotels & Resorts, one of the world’s leading hospitality companies, today announces the signing of a Multi-Development-Agreement (MDA) with Solutions4Hotels GmbH (S4H), a commitment to develop 10 hotels of the Holiday Inn brand family with approximately 800 rooms in Germany. IHG and S4H have also signed Holiday Inn Express Leipzig South as part of the MDA. The agreement is part of an extensive mixed-used development project in 10 locations which also includes the development of premium service stations and restaurants. Each site will feature a futuristic service station including electric charging, a petrol station with susta...
Vector Hospitality and Eraa Hospitality Break Ground on Home2 Suites by Hilton in Conyers, Georgia
Home2 Suites by Hilton | October 4, 2022
Atlanta based, Vector Hospitality, Inc. in partnership with Chattanooga based, Eraa Hospitality recently broke ground on a 91-room Home2 Suites by Hilton located in Conyers Georgia, marking Vector’s inaugural hotel and entrance into the Conyers market. Projected to open in the fall of 2023, the hotel will be located off I-20 East, in one the city’s new mixed-use developments. The Home2 Suites by Hilton is designed for today’s business and leisure traveler who desire a contemporary, comfortable stay. The property will feature spacious suites with a customizable working area, fully equipped kitchen, microfiber hypoallergenic bedsheets,...
Interstate Hotels & Resorts Launches New Corporate Identity as Aimbridge EMEA
October 3, 2022
Interstate Hotels & Resorts – the international division of Aimbridge Hospitality – has today launched a new corporate identity, debuting an Aimbridge global identity as the ‘Aimbridge EMEA’ division, setting the foundations for future growth beyond the UK and Europe. The existing Interstate Hotels & Resorts portfolio, which has operated as Aimbridge Hospitality’s international division since 2019, comprises of 114 properties across the UK and Europe and includes brands such as Marriott, Hilton, IHG and Accor, as well as independent hotels. The portfolio will now form Aimbridge’s EMEA division, headed up by David J. ...
Marriott and Yuexiu Property Partner to Bring Ritz-Carlton to Downtown Wuhan
Marriott International | October 3, 2022
Marriott International, Inc., today announced the signing of an agreement with Yuexiu Property to bring its iconic Ritz-Carlton brand to downtown Wuhan. Expected to open at the end of 2024, The Ritz-Carlton, Wuhan, is set to elevate the city’s luxury hotel landscape with its destination inspired design and highly personalized service. “We are thrilled to introduce The Ritz-Carlton brand to Wuhan, one of the largest cities in Central China,” said Gavin Yu, Chief Development Officer, Greater China, Marriott International. “This signing underscores our commitment to grow in the destinations most relevant to today’s luxury travelers....
Hyatt’s New Inclusive Collection to Debut in Bulgaria With Plans for Five Resorts in Sunny Beach and Obzor
Terra Tour Service | October 3, 2022
CHICAGO (October, 2022) – Hyatt Hotels Corporation (NYSE: H) today announced plans to expand Hyatt’s Inclusive Collection – a new global portfolio of distinct luxury all-inclusive resort brands – with five all-inclusive resorts in Bulgaria. Less than one year since the acquisition of Apple Leisure Group, a leading resort brand management platform, Hyatt continues to strengthen its leadership position in the luxury all-inclusive category. The planned expansion further demonstrates the strength and reputation of Hyatt’s all-inclusive brands as they grow in new markets outside of the Americas to attract diverse groups of travelers s...
IHG Partners With Björnbäckens Fastighets for Dual-Branded Crowne Plaza and Holiday Inn Express in Sweden
IHG Hotels & Resorts | September 29, 2022
IHG® Hotels & Resorts, one of the world’s leading hospitality companies, today announces the signing of Crowne Plaza & Holiday Inn Express Stockholm Arlanda Airport, which will be the company’s first hotels in Sweden after returning to the market. Entering a new strategic partnership with owning company Björnbäckens Fastighets AB, the franchise deal strengthens IHG’s presence in the Nordic markets and underscores the company’s growth ambitions for Sweden and beyond. The dual-branded property will see a total of 420 rooms – 120 housed in the Crowne Plaza property, and 300 rooms at the Holiday Inn Express hotel. It w...
IHG Continues Growth of voco Brand With Signing in Belgium With Living Tomorrow
IHG Hotels & Resorts | September 29, 2022
IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, is delighted to announce the signing of voco Brussels City North, marking entry into a new market. The first of its kind in Belgium, voco Brussels City North will focus on innovation, and symbolises the future of hospitality. One of IHG’s newest and most successful brands, voco hotels has also become its fastest growing upscale brand, happening at a quicker pace than others within IHG’s portfolio. IHG is delighted to be partnering with Living Tomorrow, an internationally operating research organisation that specialises in bringing innovative projects ...
Valor Hospitality Parners, ICD Hospitality, and Leisure Form JV to Support Dubai Vision 2040
Valor Hospitality Partners | September 29, 2022
ATLANTA, Ga. – September 29, 2022 – Valor Hospitality Partners, a global, full-service hotel management company announced today a highly anticipated partnership between Valor Hospitality Partners Middle East and ICD Hospitality and Leisure LLC, a wholly owned subsidiary of Investment Corporation of Dubai that manages a portfolio of commercial companies and investments. Under a long-term arrangement, the new joint venture, Valor Hospitality Partners DMCC, will scale up operations in the Middle East region by signing new hotel management agreements with hotel owners. Leading global hotel groups have a majority of their hotels under fr...
Dhruv Development Begins Construction of New HomeTowne Studios by Red Roof in Bradenton, Florida
September 28, 2022
Columbus, Ohio – Sept. 28, 2022 – Red Roof®, the leader in economy lodging, announced that concrete has been poured and construction has begun on a new HomeTowne Studios by Red Roof in Bradenton, Florida. The 124 -room HomeTowne Studios (HTS) is the first new-build property for HomeTowne Studios by Red Roof, which has already converted nearly 70 hotels to the HomeTowne Studios brand across the country. The Bradenton property is owned and will be operated by Dhruv Management of Port Richey, Florida, which owns or operates more than 150 hotels nationwide. “We are excited to partner with Dhruv Management on the developme...
Katara Hospitality and Accor Expand Partnership With the Signing of Fairmont Tazi Palace Tangier
Accor | September 27, 2022
Katara Hospitality, a leading global hotel owner, developer, and operator based in Qatar strengthens its partnership with Accor, the world’s most diverse hospitality group with over 425 hotels across India, Middle East, Africa and Turkey, with the opening of the new Fairmont Tazi Palace Tangier in the Northern region of Morocco. Set to open in the 4th quarter of 2022, the new luxury hotel will consolidate the long-standing partnership between the two groups, with Katara Hospitality already owning several landmark hotels managed by Accor. The historical palace will feature 133 luxurious rooms and suites, a Fairmont Spa, multiple restaurant...
IHG Signs With Grape Hospitality for Five Conversion Projects Across Southern Europe
IHG Hotels & Resorts | September 27, 2022
IHG Hotels & Resorts, one of the world’s leading hospitality companies, today announces a multi-property development agreement with Grape Hospitality for five conversion properties in prime European destinations. The five properties include voco Madrid Centre Retiro – a market debut for the voco brand in Spain; three Hotel Indigo properties in Florence, Italy; Bordeaux, France; and Barcelona, Spain, respectively, and Crowne Plaza Madrid Centre Retiro. All three brands are going from strength to strength; the Hotel Indigo brand now boasts 40 open hotels in Europe with a further 19 in the pipeline; voco has expanded to 15 open ho...
Radisson Hotel Group Achieves Record Growth Year in Greece
Radisson Hotel Group | September 26, 2022
Radisson Hotel Group announces a record year of growth for Greece with four signings and three openings to date, leading international development activity in the country. 2022 marks an impressive year for the Group as it continues to build on its growing trust from strategic investors and partners. With the signing of two hotels in Athens and two resorts in Mykonos and Skiathos, both of which also opened earlier this year, the Group’s portfolio now stands at seven hotels and resorts with more than 800 rooms in operation and under development. In recent months, Radisson Hotel Group introduced several of its brands to the Greek market. It...
Peachtree Hospitality Development to Deliver Record Year of Development Achievements
Peachtree Group | September 26, 2022
ATLANTA (Sept. 26, 2022) – Peachtree Group’s (“Peachtree”) development division, Peachtree Hospitality Development (“PHD”), is on track to deliver a record year of development achievements. In 2022, PHD has opened three select-service hotels, with another hotel slated to open later this year. In addition, the company will break ground this year on 11 hotels, primarily select-service, across the U.S. In total, Peachtree will add more than 1,500 rooms to its portfolio through these developments. “While construction starts have been slowed by the pandemic and supply chain disruptions, we have successfully navigated these issues...
Lamington Group Plans Three New Net Zero room2 Hometels in York, Glasgow & Manchester
room2 | September 26, 2022
September 26, 2022// Real estate investor and developer Lamington Group has announced plans to open three new net zero room2 hometels in York, Glasgow and Manchester in 2024, 2025 and 2026 respectively. The exciting pipeline of sustainable properties, worth £100m investment, reflects the group’s commitment to only build and operate to whole life net zero standards for new properties developed after the launch of the group’s net zero roadmap in September 2021. Robert Godwin, Managing Director at Lamington Group, comments: “Lamington Group strives to push the boundaries of net zero in the hospitality industry. The opening of n...
SH Hotels & Resorts to Open First U.S. Treehouse Hotel in Sunnyvale, California
Treehouse Hotels | September 26, 2022
Miami, FL [September 26, 2022] SH Hotels & Resorts, the sustainable brand management company founded by Starwood Capital Group Chairman and CEO Barry Sternlicht, today announced the first Treehouse Hotel to open in the U.S. in Sunnyvale, CA, in the high-tech heart of Silicon Valley, in late 2023. The free-spirited, environmentally conscious lifestyle brand creatively captures the carefree comfort, freedom, nostalgia and fun of childhood. Every Treehouse Hotel is founded on the adventurous ideas that inspire a child to build their “treehouse” and hang with real and imaginary friends. Treehouse Sunnyvale will fuse the creativity, innov...
VICI Properties Inc. Invests in Great Wolf Lodge Gulf Coast Texas
VICI Properties | September 23, 2022
NEW YORK--VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”) announced today that the Company has agreed to provide a mezzanine loan for up to $127.0 million to Great Wolf Resorts, Inc. (“Great Wolf”) related to the development of Great Wolf Lodge Gulf Coast Texas, a more than $200 million family resort project in Webster, TX. The 532-room indoor water park resort was officially announced today during a groundbreaking event and is expected to start welcoming guests in mid-to-late 2024. The mezzanine loan has an initial term of 3 years with two 12-month extension options subject to certain conditions. The invest...
Hyatt and Kiraku Unveil New Hospitality Brand Under Joint Venture
Hyatt Hotels Corporation | September 22, 2022
CHICAGO (September 22, 2022) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate and Kiraku, Inc. (Kiraku) have entered into a strategic joint venture that will launch a collection of modern-style hot spring ryokans (Japanese-style inn) in Japan targeting global travelers under the new hospitality brand, ATONA. Hyatt and Kiraku will each own fifty percent of the joint venture and will leverage the expertise and strengths of both Hyatt and Kiraku to develop this new offering. Japan was ranked as the number one tourist destination in the world out of 117 countries and regions according to the recent Travel and To...
Morocco’s First Waldorf Astoria to Debut in 2025 With Signing in Tanger
Hilton | September 22, 2022
TANGER, Morocco — Hilton (NYSE: HLT) today announced the signing of an agreement with Star Hill Tanger SA to open Waldorf Astoria Tanger, signaling the debut of the iconic luxury Waldorf Astoria brand in Morocco. Expected to open in 2025, the luxury resort will be located in a prime location close to the northwest coast of the country. Surrounded by lush greenery, Waldorf Astoria Tanger will be the preeminent luxury destination in Tanger – ideal for family vacations, a relaxing holiday, or for those looking to explore the city. The resort will be in close proximity to the Cape Spartel Reserve, making it a convenient base to explore t...
Marriott Signs With Bain Capital Credit and Omnam Group to Bring EDITION Hotels Brand to Italy’s Lake Como
Marriott International | September 22, 2022
Marriott International, Inc., today announced it has signed an agreement with Bain Capital Credit and Omnam Group to bring its EDITION Hotels brand to Lake Como. Owned and developed by Bain Capital and Omnam Group through a fund managed by Kryalos SGR, The Lake Como EDITION is slated to open in 2025 with 145 luxurious guest rooms, including two penthouse suites, a lively lobby bar, a floating pool, and multiple restaurants and bars overlooking Lake Como with breath-taking views of the Bellagio mountains. The property is a 19th century building located on the western shore of the prestigious Lake Como, a short drive from Central Milan. It wi...
Managing Hotels Through High Inflation: a Game of Maximizing Revenues and Controlling Costs, Hears HVS Seminar
HVS | September 22, 2022
22 September 2022, London: The biggest challenges affecting hotels through this period of high inflation relate to the cost of labour, rising energy prices, coping with supply chain issues, the cost of debt and uncertainty that makes budgeting for the year ahead almost impossible. Discussing these issues at a seminar in London last week ‘Managing and financing hotels through ultra-high inflation’, organised by HVS, Bird & Bird, EP in Hospitality and AlixPartners, an impressive line-up of experts discussed the current challenges facing UK and European hotel revenues, costs and profitability, as well as the impact on M&A activ...
