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
Hilton Signs Six New Luxury Hotels in Asia Pacific
Hilton | August 31, 2022
SINGAPORE – Leading global hospitality company Hilton (NYSE: HLT) has announced six landmark signings in Asia Pacific (APAC) across its portfolio of luxury brands - Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts and LXR Hotels & Resorts - in the year to date, a mark of growing optimism in luxury travel across the region. With the signing of Waldorf Astoria Xi’an, Waldorf Astoria Shanghai Qiantan, Waldorf Astoria Kuala Lumpur, Waldorf Astoria Sydney, Conrad Nagoya and an LXR Hotels & Resorts property in Bali, Hilton’s pipeline of luxury hotels in the region increases to 20. When these hotels open in the...
Colebrook Financial Finances Vacatia’s Acquisition of Liberte Management, LLC
Colebrrok Financial Company | August 31, 2022
Middletown, CT (August 31, 2022) –Colebrook Financial Company, a leading lender to the timeshare and travel club industries has provided financing to Vacatia Inc., a leading provider of innovative, customer-centric solutions for timeshare resorts, to acquire Liberté Management Company. Liberté Management Group, a Vacatia Company, manages six Florida properties located on St. Pete Beach, Redington Shores, Madeira Beach, Treasure Island and Belleair Beach. Vacatia is an innovative hospitality company offering resort residence rentals and timeshare resales. The Mill Valley, California--based company also partners with timeshare home...
Nobu Hospitality Signs Exclusive Thailand-Wide Development Agreement With Asset World Corporation
Nobu Hospitality | August 29, 2022
NEW YORK, Aug. 29, 2022-- Nobu Hospitality, the globally iconic and fastest growing luxury lifestyle brand, and Asset World Corp Public Company Limited (AWC), Thailand's leading integrated lifestyle real estate group are delighted to announce the exclusive Thailand-wide development agreement, and the commencement of two exciting projects in Bangkok. As part of the development agreement the two partners have committed to an exclusive collaboration to develop multiple Nobu Hotels and restaurants in Thailand. The parties are exploring further development locations in Thailand's most compelling destinations. The Nobu restaura...
HVS Monday Musings: Income Capitalization Approach – The Gold Standard for Valuing Hotels
Anand Rai | August 29, 2022
By Anand Rai According to a recent GlobalData report, 573 deals (including mergers & acquisitions, private equity, and venture financing) were announced in the global travel and tourism (T&T) industry in the first half of 2022, reflecting a 3.1% increase over the same period last year. However, before these deals are concluded, the asset needs to be valued. So, how do we determine a hotel's market value and what exactly is valued under the category of hotels? The main valuation techniques are briefly covered in this article. The hotel’s market value takes into account the value of all of its different components, including th...
Global Construction Pipeline Projects in Early Planning Rise to New Record High
Lodging Econometrics (LE) | August 29, 2022
Lodging Econometrics (LE) has released its bi-annual Global Construction Pipeline Trend Report, which compiles the construction pipeline counts for every country and market around the world. In the Q2 2022 report, LE analysts state that the total global construction pipeline stands at 14,117 projects/2,293,131 rooms, up 5% by projects and 2% by rooms year-over-year (YOY). There are 6,074 projects/1,110,174 rooms currently under construction at the Q2 close. Projects scheduled to start construction in the next 12 months, at 3,664 projects/525,096 rooms, are up 1% by projects YOY and unchanged by rooms, while projects in early planning reach...
A Hotel Debt Quagmire: Borrowers With Maturing Loans Have Increasingly Fewer Options
The Plasencia Group | August 26, 2022
By Dexter Wood New Debt Has Vanished New debt for hotel acquisitions has all but vanished, but a bigger problem may be the wave of existing debt facilities of all types that are scheduled to mature this year and next. Beginning at the start of 2022 and through the end of 2023, nearly 45,000 CMBS hotel loans totaling about $30 billion in value were set to mature as illustrated in the graph at right. Although the lodging industry has made great progress since the depths of the COVID-19 pandemic, the recovery has proven to be uneven, selective, and vulnerable to a plethora of external factors. ...
Pan Pacific Hotels Group Launches Two Hotels in Japan With Tokyu Hotels Group
Pan Pacific Hotels Group | August 26, 2022
Singapore, 26 August 2022 - Pan Pacific Hotels Group today launches two new hotels in partnership with Tokyu Hotels, accelerating its portfolio growth in Japan. Housed in the heart of vibrant Shinjuku, BELLUSTAR TOKYO, A Pan Pacific Hotel and HOTEL GROOVE SHINJUKU, A PARKROYAL Hotel will present two unique hotel concepts within TOKYU KABUKICHO TOWER, Shinjuku’s new landmark skyscraper complex by architectural firm Kume Sekkei, designer of the Yayoi Kusama Museum in Tokyo. Slated to open in the first half of 2023, BELLUSTAR TOKYO, A Pan Pacific Hotel will showcase the Pan Pacific brand’s sincere, graceful service and luxurious s...
Andaz Pattaya Jomtien Beach Set to Open Q4 2022 in Thailand
Andaz | August 26, 2022
Bangkok, Thailand, 26 August 2022: When Andaz Pattaya Jomtien Beach, Hyatt’s first-ever Andaz hotel in Thailand, opens its doors in Q4 2022, it will not only represent a major milestone in Thailand’s luxury and lifestyle hotel sector; it will also mark the latest step in the business journey for a highly successful father and son team who are keen to build upon their proud family heritage. Mr. Narit Chia-Apar, the owner of Andaz Pattaya, and his son, Mr. Chintat Chia-Apar, are overseeing the transformation of their family estate – a serene 6.4-hectare plot of land at Tawanron Beach, between the popular holiday hub of Jomtien and the ...
Top-Tier Chain Scales Lead Hotel Construction Projects in the Middle East at Q2
Lodging Econometrics (LE) | August 25, 2022
In the recent Middle East Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of 2022’s second quarter, the total pipeline stands at 545 projects/140,055 rooms, up 3% by projects year-over-year (YOY). Economic and geopolitical uncertainty still pose many challenges throughout the Middle East, but as travel restrictions have been gradually lifted across the region, domestic travel and tourism numbers have improved throughout the first two quarters. For the second consecutive quarter, 72% of the projects in the Middle East are in the top three chain scales (luxury, upper upscale, and upscale), with upper ups...
Aparium Hotel Group Continues Portfolio Expansion With Development of Three New Hotels
Aparium Hotel Group | August 24, 2022
CHICAGO (August 22, 2022) - Aparium Hotel Group, ranked one of the Top 25 Hotel Brands in the World by Travel + Leisure in 2021, today announces the development of three new hotels. The properties include Hotel Westland in Seattle, Washington, Hotel Heron in Alexandria, Virginia, and Populus Hotel in Denver, Colorado. “We are excited to continue on a steady path of growth with new openings that supports our goal of connecting travelers to unique experiences and culture in important cities and neighborhoods throughout the country,” said Mario Tricoci, Founder and Chief Executive Officer of Aparium Hotel Group. “Our curated pipeline o...
Meliá Hotels International and Falcon’s Beyond Announce Falcon’s Resorts by Meliá
Falcon's Beyond | August 23, 2022
ORLANDO, Fla. & PALMA DE MALLORCA, Spain--Meliá Hotels International (“Meliá ”) (BME: MEL), one of the world’s leading leisure hotel companies operating more than 380 hotels throughout 40 countries, and its joint venture partner Falcon’s Beyond (“Falcon’s” or the “Company”), a global entertainment development company, announced today a new, leisure and entertainment-based resort brand, Falcon’s Resorts by Meliá. The resorts will be featured within world-class entertainment destinations, to be branded Falcon’s Beyond Destinations, being jointly developed by the two companies in prime leisure markets across the g...
Accor Signs With Hann for Two New Properties in Clark City, Philippines
Accor | August 23, 2022
Accor is expanding its presence in the Philippines with the signing of two new properties in Clark City. Located within a luxury integrated resort, Hann Lux, Sofitel Clark and Emblems Clark will offer convenient access to high-end fashion stores, French inspired cafes and convention facilities. Sofitel Clark will comprise 300 guest rooms while the Emblems Clark will feature 200 guest rooms. The landmark multi-agreement signing will see the expansion of a well-established partnership between Hann and Accor to six hotels in Clark, Philippines. Sofitel Clark will welcome guests with a ‘magnifique’ array of elegant experiences which embr...
Hilton Expands Presence in Malaysia With Signing of Hilton Burau Bay Resort Langkawi
Hilton | August 18, 2022
KUALA LUMPUR, Malaysia – Leading global hospitality company Hilton announced today the signing of an agreement with Tradewinds Corporation Berhad to expand Hilton’s flagship brand in Malaysia with Hilton Burau Bay Resort Langkawi. The resort marks Tradewinds Corporation Berhad’s fourth property with Hilton, following Hilton Petaling Jaya, Hilton Kuching, and the recently announced Waldorf Astoria Kuala Lumpur. Scheduled to open in 2024, the 251-room resort will be Hilton’s second property in Langkawi, complementing The Nautilus Resort, Curio Collection by Hilton, expected to open in 2023. The resort will also join Hilton’s ...
IHG Hotels & Resorts Partners With Seraphim Development for InterContinental Hotel in Pyeongtaek
IHG Hotels & Resorts | August 18, 2022
Seoul, South Korea – 18 August 2021: Pyeongtaek is ready to welcome the world’s first and largest international hotel brand – InterContinental Hotels & Resorts – as it continues to grow its reputation and stature. Scheduled to open in 2025, the prestigious 244-room InterContinental Pyeongtaek will be the first global hotel brand in the Gyeonggi Province city and form a key part of its exciting future expansion plans and long-term ambitions. The original plan for the project was to introduce another leading IHG Hotels & Resorts brand, voco Hotels, in the form of voco Pyeongtaek. However, recognising the increasing dema...
China’s Hotel Construction Pipeline Hits Record High Upscale and Upper Midscale Project Counts at Q2 2022
Lodging Econometrics (LE) | August 18, 2022
August 18, 2022 – PORTSMOUTH, NH According to the latest Construction Pipeline Trend Report from Lodging Econometrics (LE), the total China hotel construction pipeline stands at 3,693 projects/701,974 rooms. At the end of the second quarter, the country’s construction pipeline is slightly less than the all-time high of 3,711 projects/704,101 rooms set in the first quarter (2022) and is up 7% by projects year-over-year (YOY) and 6% YOY by rooms. Projects presently under construction are at 2,581 projects/470,021 rooms, each up 7% YOY, projects starting construction in the next 12 months are at 510 projects/97,607 rooms, and projects ...
Projects & Rooms in the Early Planning Stage in Asia Pacific’s Hotel Construction Pipeline, Excluding China, Reach Record Highs in 2022’s Sec
Lodging Econometrics (LE) | August 17, 2022
August 17, 2022 – PORTSMOUTH, NH According to the recent Asia Pacific, excluding China, Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the second quarter the region’s total construction pipeline grew to 1,891 projects/396,517 rooms, up 11% and 9% respectively, year-over-year (YOY). The hotel industry in Asia-Pacific continued to show signs of recovery in the second quarter of 2022. Countries in the region with lifted border and travel restrictions saw a boom in leisure and business demand with the return of international travelers. At the end of the second quarter, projects currently under con...
Nobu Hospitality Partners With RCD Hotels for Nobu Hotel Tulum
Nobu Hospitality | August 17, 2022
NEW YORK, AUGUST 17, 2022 - Today, in partnership with RCD Hotels, the globally iconic and fastest growing luxury lifestyle brand, Nobu Hospitality, announces the launch of a Nobu Hotel, Restaurant, and Residences in the chic beach destination of Tulum, Mexico. This is a significant milestone for Nobu Hospitality, marking the brand’s 30th hotel globally and the sixth hotel and fourth residential project between Nobu Hospitality and RCD Hotels. The growing partnership between Nobu Hospitality and RCD Hotels was cemented in 2016 with the opening of Nobu Hotel Miami Beach, followed by Nobu Hotels in Los Cabos, Chicago, and pipeline openings...
Aleph Hospitality Signs With Sokerico Group to Operate Kertel Suites in Kinshasa
Aleph Hospitality | August 16, 2022
DUBAI, UAE 16 August 2022 Leading Dubai-based independent hotel management company, Aleph Hospitality, has signed a management contract with Congo-based Sokerico Group to operate Kertel Suites in Kinshasa. The boutique property, which is currently under development, is set to open in Q1 2023, and on opening the hotel will set a new benchmark for the hospitality sector in Kinshasa with its all-suites accommodations and state of the art food and beverage offerings. Aleph Hospitality’s portfolio now covers 12 properties across eight countries on the African continent. Located in the capital Kinshasa, in the heart of Gombe, a flourishing...
Early Planning Stage in Latin America’s Hotel Construction Pipeline Rises 43% by Projects YOY
Lodging Econometrics (LE) | August 16, 2022
August 16, 2022 – PORTSMOUTH, NH According to the recent Latin America Construction Pipeline Trend Report from Lodging Econometrics (LE), the region’s total construction pipeline has 555 projects/90,496 rooms at Q2 2022. Following nearly two years of uncertainty stemming from the pandemic, the hotel industry in Latin America is finally showing some signs of recovery. Consumer confidence has risen as border restrictions and quarantine requirements across the region and air passenger traffic to Latin American countries has increased substantially compared to numbers recorded in the second quarter of 2021. In the first half of 2022,...
Lodging Companies Tout Strength of Recovery
HotStats | August 15, 2022
Recent second-quarter earnings reports from the major lodging companies points to a sustained recovery within the global hotel industry. They reported significantly improved results over the first quarter of 2022, with many profitability metrics outpacing those in 2019. Even Marriott International was surprised at the speed of the recovery. “There's no doubt that the recovery has accelerated faster than we had originally anticipated,” said Marriott CFO Leeny Oberg. Marriott’s operating income in the second quarter came in at $950 million, nearly double the $486 million reported the same quarter a year ago. Same with adjusted earni...
Hospitality Financial Leadership: What Hotel Brands Don’t Know – The Secret to Creating Great Financial Expertise
David Lund | August 15, 2022
By David Lund What brands don’t know is, they can create great financial bench strength in their hotels and their owners will pay 100% of the cost. Brands also don’t know that they can create this bench strength with resources that are readily available. Lastly, brands don’t know that their non-financial managers are literally dying to get these financial skills and abilities now and they want to apply them. Brands need to evolve. Brands need to stand still long enough to realize they sell one thing to owners, expertise in running and managing hotels. Brands sell expertise for all aspects of running and managing a hotel. Not just ...
Smart Benchmarking Starts With the Right Compset
Eula Skiles | August 15, 2022
By Eula Skiles Setting up a right profitability management approach starts with understanding your market and benchmarking against the right hotels. It’s also a way to attract the right guests. One of the best ways to do that is identifying the hotels that are most like your own vis-à-vis key count, F&B services and outlets, conference space and other offered amenities. In the hospitality industry, choosing a compset if the first step toward a winning market-share formula. For a consumer, one of the biggest costs of travel is booking a hotel room. The pricing trends of hotel rooms stem from a complex business strategy. In order t...
Hyatt Reports Second Quarter 2022 Results
Hyatt Hotels Corporation | August 11, 2022
Total Fee Revenue More than Doubles from Last Year; Reaches Record Level System-wide RevPAR, Excluding Greater China, Above 2019 CHICAGO (August 11, 2022) - Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported second quarter 2022 financial results. Net income attributable to Hyatt was $206 million, or $1.85 per diluted share, in the second quarter of 2022, compared to a net loss attributable to Hyatt of $9 million, or $0.08 per diluted share, in the second quarter of 2021. Adjusted net income attributable to Hyatt was $51 million, or $0.46 per diluted share, in the second quarter of 2022, compared to Adjusted net l...
Radisson Hotel Group Expands Its Footprint in South Asia With the signing of Radisson Biratnagar in Nepal
Radisson Hotel Group | August 11, 2022
Radisson Hotel Group, one of the world’s largest hotel groups, is delighted to announce the signing of Radisson Biratnagar in Nepal, in partnership with The Centurion Hotel Private Limited, which will further strengthen its leading position in South Asia with over 100 hotels in operation. The 145-room Radisson Biratnagar is expected to open in Q3, 2024, and is in Biratnagar, the industrial and fastest growing provincial capital of the country that shares its borders with the Indian states of Bihar and West Bengal. Strategically located just 10 minutes from Biratnagar Airport, 15 minutes from the India border, and Jogbani Railway Stati...
