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
Tidal Real Estate Partners Bringing Kimpton Hotel to Downtown Raleigh
Kimpton Hotels & Restaurants | May 26, 2022
SAN FRANCISCO (May 26, 2022) – Kimpton Hotels & Restaurants, part of IHG Hotels & Resorts’ Luxury & Lifestyle Collection, announced today it will open a boutique hotel in downtown Raleigh, North Carolina. The hotel will open in late 2025 as part of a new-build 20-story mixed-use development also featuring high-end residences in North Carolina’s capital city. Owned by Tidal Real Estate Partners, the new Kimpton in Raleigh will span the first six floors of the building and feature 179 guest rooms, including approximately 20 suites. Architects at Earl Swensson Associates, Inc., ESa, will build an entirely new mixed-use struct...
Nobu Hospitality Signs With Millenium Hospitality Real Estate to Develop Nobu Hotel Madrid
Nobu Hospitality | May 26, 2022
Nobu Hospitality, the leading luxury lifestyle and iconic hotel and dining brand, announces today its fifth Spanish hotel and restaurant in the elegant capital city of Madrid. Centrally positioned in the heart of the Spanish capital’s Cortes District, Nobu Hotel Madrid will see the transformation of an existing office building, located at 26 Calle Alcalá, between Plaza de Cibeles and Puerta del Sol. The hotel will offer a tri-level Nobu restaurant and bar, an expansive rooftop bar, and a lounge with views over the skyline together with a state-of-the-art fitness centre and spa. The restaurant will be reimagined by the renowned Californi...
Europe’s Hotel Construction Pipeline Sees Slight Decline Year-Over-Year at the End of Q1 ‘22
Lodging Econometrics | May 26, 2022
May 26, 2022 – PORTSMOUTH, NH According to the most recent Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), Europe ends 2022’s first quarter with 1,781 projects/277,290 rooms. An 8% decrease by projects and an 11% decrease by rooms year-over-year (YOY). Projects under construction stand at 875 projects/141,304 rooms, at the end of Q1 ‘22, while projects scheduled to start construction in the next 12 months stand at 443 projects/65,611 rooms. Projects in the early planning stage are at 463 projects/70,375 rooms, projects in this stage are up 5% by projects and down 1% by rooms YOY. Similar to other regions ...
Marriott International and EuroAtlantic Group Announce Plans for New-Build Munich Marriott Hotel City West
Marriott International, Inc. | May 25, 2022
Marriott International, Inc. today announced plans for the new-build Munich Marriott Hotel City West. Located in Munich’s lively Westend district, the hotel is expected to feature 402 guest rooms and suites and almost 5,000 square meters of public space, including a state-of-the art conference center designed to accommodate large-scale meetings and events. “We are eagerly anticipating the debut of the Munich Marriott Hotel City West,” said Satya Anand, President, Marriott International, Europe, Middle East and Africa. “This spectacular new-build hotel under the signature flag of Marriott Bonvoy’s 30 hotel brands, underscores our...
Rosewood Red Sea Set to Open in Saudi Arabia
Rosewood Hotels & Resorts | May 25, 2022
Rosewood Hotels & Resorts has been appointed by The Red Sea Development Company to manage Rosewood Red Sea, opening as part of phase one of the multi-complex The Red Sea development. Located along Saudi Arabia’s west coast on Shura Island, the new Rosewood® hotel will be part of The Red Sea destination, which is comprised of a stunning marina offering a yacht club, commercial retail and dining options, as well as an 18-hole championship golf course. This new development is poised to be one of Saudi Arabia’s top cultural and lifestyle destinations, appealing to international visitors and local citizens through a mix of leisure ele...
Accor Bringing Iconic Fairmont Hotels & Resorts Brand to Japan
Accor | May 24, 2022
Accor, a world leading hospitality group, and Nomura Real Estate Development Co., Ltd., a leading real estate company in Japan, proudly introduce Fairmont Tokyo, slated to open in 2025. Fairmont Tokyo, the luxury brand’s first hotel in Japan, will feature 219 guestrooms and awe-inspiring views of Tokyo Bay. Located on the upper floors of the South Tower of the Shibaura Project, it is part of a development designed under the National Strategic Special Zone Program. It is unique in that it is the only location in the cosmopolitan area that offers access to business, culture, and well-being amenities. This hotel’s enviable location is als...
Marriott International Signs Two New W Hotels in Italy, W Milan – Duomo and W Naples
W Hotels Worldwide | May 24, 2022
Marriott International, Inc. today announced it has signed agreements to debut two new W Hotels in Italy with the signings of W Milan - Duomo and W Naples. Both hotels are slated to welcome guests in 2024, further expanding the brand’s footprint in the country, following the recent opening of W Rome and the signing of W Florence in 2021. “We are thrilled to announce the signing of W Milan - Duomo with Gruppo Marseglia and W Naples with Solido S.p.A. The spirited cities of Milan and Naples have long been a destination of choice for global jetsetters, and we’re delighted to answer to the growing demand for luxury lifestyle hotels with ...
Dream Hotel Group Plans 200-Key Dream Frisco in Texas
Dream Hotels | May 24, 2022
NEW YORK, NY (May 24, 2022) – Renowned hotel brand and management company Dream Hotel Group today announced plans to open Dream Frisco, a boutique 200-key hotel, as part of the new Firefly Park mixed-use development in the historic town of Frisco, Texas, just 28 miles north of Dallas. Led by Texas-based real estate and investment company Wilks Development, with masterplan design by UN Studio, in collaboration with Sasaki Architects, the 200-room Dream Frisco hotel will feature an expansive rooftop pool deck and bar, state-of-the-art fitness center, and four dynamic food and beverage offerings, including a signature restaurant, nightclub...
IHG Signs With Asset World Corporation for Kimpton Hua Hin Resort in Thailand
IHG Hotels & Resorts | May 23, 2022
Thailand – 23 May 2022: IHG Hotels & Resorts, one of the world’s leading hospitality companies, is honoured to announce the signing of Kimpton Hua Hin Resort in collaboration with long-standing partner Asset World Corporation, Thailand’s leading integrated lifestyle real-estate group. Opening in 2024, the 124-room resort will be the fourth Kimpton hotel in the Kingdom. Part of IHG’s Luxury & Lifestyle portfolio, the Kimpton brand’s popularity and growth in Thailand has accelerated at pace since its debut in Bangkok in 2020, thanks to its heartfelt service, boldly playful design and award-winning dining offers. The a...
Marriott International Signs Agreement With Sunwing Travel Group to Debut Royalton Splash Riviera Cancun
Marriott International | May 23, 2022
The 1,049 Room Resort is Slated to Open in Late 2022 as Part of the Autograph Collection Hotels Brand, Further Expanding the All-Inclusive by Marriott Bonvoy Portfolio With a dynamic and growing selection of all-inclusive experiences across the Caribbean and Latin America, Marriott International, Inc. today announced the signing of Royalton Splash Riviera Cancun to join its growing all-inclusive portfolio. Expected to open in late 2022, Royalton Splash Riviera Cancun is owned and managed by Blue Diamond Resorts and will join the All-Inclusive by Marriott Bonvoy portfolio, which includes close to 30 immersive getaways in 8 locations across th...
Marriott International Signs Agreement With Red Sea Development Company to Bring the First Ritz-Carlton Reserve to the Middle East
Marriott International | May 23, 2022
Marriott International, Inc. today announced it has signed an agreement with The Red Sea Development Company to debut its distinguished Ritz-Carlton Reserve brand off the west coast of Saudi Arabia. Slated to debut in 2023, Nujuma, a Ritz-Carlton Reserve, is expected to form part of the eagerly anticipated Red Sea destination and offer a highly personalized leisure experience that blends intuitive and heartfelt service with stunning natural beauty and indigenous design. Nujuma will be the first property from the brand in the Middle East and joins an exclusive collection of only five Ritz-Carlton Reserves worldwide. “We are thrilled to br...
Hyatt Signs With Grupo Murano for First Andaz Hotel in Mexico City
Andaz | May 19, 2022
CHICAGO (May 19, 2022) - Hyatt Hotels Corporation (NYSE:H) announced today that a Hyatt affiliate has entered into a management agreement with Grupo Murano for a new luxury lifestyle hotel, Andaz Condesa Mexico City, to be located in Mexico City’s Condesa neighborhood. The 213-room hotel will represent the first Andaz property in Mexico City, and is expected to open in late 2022 as part of the I421 mixed-use complex, formerly known as the historic Conjunto Aristos. The Andaz brand of luxury lifestyle hotels offer distinctively local experiences that stimulate the senses. Every Andaz hotel celebrates the uniqueness of their neighborho...
China’s Hotel Construction Pipeline Hits Record High Project & Room Counts at Q1 2022
Lodging Econometrics | May 19, 2022
May 19, 2022 – PORTSMOUTH, NH According to the latest Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of Q1 ‘22, China’s total hotel construction pipeline reached record high project and room counts, standing at 3,711 projects/704,101 rooms and up 8% by projects and 7% by rooms year-over-year (YOY). China has 2,623 projects/477,245 rooms presently under construction, both at record highs, and up 11% and 12% YOY, respectively. Projects scheduled to start construction in the next 12 months stand at 504 projects/96,054 rooms. Projects and rooms in the early planning stage are up 26% and 17% YOY, respective...
Radisson Hotel Group and PPHE Hotel Group Partners to Develop Portfolio of Premium Lifestyle art’otels
May 18, 2022
Radisson Hotel Group (“RHG’’), one of the largest hotel groups in the world, and PPHE Hotel Group (“PPHE”), the London listed international hospitality real estate and management company and master franchisee of RHG’s Park Plaza brand in EMEA, are pleased to announce that they have extended their longstanding strategic partnership. Through the partnership, they will jointly develop a global portfolio of premium lifestyle art’otels in key gateway cities and capitalize on growth opportunities presented by PPHE’s current and future property portfolio. For the past two decades, PPHE has held the exclusive master franchise rights ...
IHG Partners With Henderson Park and Hines to Debut InterContinental Brand in Crete
IHG Hotels & Resorts | May 18, 2022
IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, is proud to announce the signing of InterContinental Resort Crete – marking the luxury brand’s debut on the Greek island. Set to open in spring 2023, IHG is developing this unique hotel in partnership with Henderson Park, the private equity real estate firm, and Hines, the international real estate firm. InterContinental Resort Crete will feature 205 guest rooms, all boasting private verandas – and half featuring private jacuzzies – as guests are offered the brand’s signature slice of InterContinental life while enjoying their stay in one of Europe...
Agilysys Fiscal 2022 Fourth Quarter Revenue Rises 28.1% to Record $46.6M
Agilysys | May 18, 2022
Expects Fiscal 2022 Record Revenue of $162.6M to Grow to $190M to $195M in Fiscal 2023 Alpharetta, GA – May 18, 2022 - Agilysys, Inc. (NASDAQ: AGYS), a global provider of next-generation hospitality software solutions and services, today reported operating results for its fiscal 2022 fourth quarter and period ended March 31, 2022. Summary of Fiscal 2022 Fourth Quarter Financial Results Total net revenue was $46.6 million, compared to total net revenue of $36.3 million and $39.7 million in the fourth quarters of fiscal 2021 and 2020, respectively. Recurring revenue (which is comprised of support, maintenance and subscrip...
Kimpton Hotels & Restaurants Breaks Ground on First Newly Constructed Non-Gaming Hotel in Reno
Kimpton Hotels & Restaurants | May 17, 2022
SAN FRANCISCO (May 17, 2022) – Kimpton Hotels & Restaurants, part of IHG Hotels & Resorts’ Luxury & Lifestyle Collection, joined CAI Investments, key stakeholders and local officials on Friday, May 13 for a ceremonial groundbreaking event to mark the progress on its new hotel in Reno, Nevada. When it opens in late 2024, the new Kimpton in Reno will become the first newly constructed non-gaming hotel built in the city. With a prime location in the heart of Downtown and across the street from the Truckee River and Wingfield Park, the hotel will become a beacon for boutique hospitality in the “Biggest Little City in the World....
Hospitality Financial Leadership: The Bridge
David Lund | May 16, 2022
By David Lund In our lives we are continuously evolving as people. When thought of most of the time, this evolution seems like a continuous stream of challenges to overcome. This persistent development is both personal and professional. The bridge is what I refer to when I think of my advancement in the hotel profession from a 20-something leader who knew nothing about the financial goings on in the hotel to a 30-something controller who was on fire. This is all about what it takes to cross that financial bridge and what it looks and feels like once you are on the other side. I have said this is my articles many times: The hotel bus...
Choice Hotels International Reports 2022 First Quarter Results
Choice Hotels International | May 13, 2022
First quarter domestic RevPAR exceeded 2019 levels by 10.4%; applications for new domestic franchise agreements increased 46% year-over-year ROCKVILLE, Md., May 13, 2022-- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, reported its results today for the three months ended March 31, 2022. "Building on the record year we had in 2021, where we surpassed 2019 RevPAR and profitability levels, Choice Hotels' proven business model once again delivered impressive quarterly results, and we expect this momentum to continue as we approach the summer leisure travel season," said Patrick Pacious, pre...
Hyatt Reports First Quarter 2022 Results
Hyatt Hotels Corporation | May 13, 2022
System-wide RevPAR Surges in March, Strengthens Further in April; Over 40% of $2.0B Asset Disposition Commitment Closed or Under Contract CHICAGO (May 13, 2022) - Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported first quarter 2022 financial results. Net loss attributable to Hyatt was $73 million, or $0.67 per diluted share, in the first quarter of 2022, compared to a net loss attributable to Hyatt of $304 million, or $2.99 per diluted share, in the first quarter of 2021. Adjusted net loss attributable to Hyatt was $36 million, or $0.33 per diluted share, in the first quarter of 2022, compared to Adjusted ne...
Hilton Reports First Quarter Results; Resumes Capital Return to Shareholders
Hilton | May 13, 2022
MCLEAN, Va. - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its first quarter 2022 results. Highlights include: Diluted EPS was $0.75 for the first quarter, and diluted EPS, adjusted for special items, was $0.71 Net income was $211 million for the first quarter Adjusted EBITDA was $448 million for the first quarter System-wide comparable RevPAR increased 80.5 percent, on a currency neutral basis, for the first quarter compared to the same period in 2021 System-wide comparable RevPAR was down 17.0 percent, on a currency neutral basis, for the first quarter compared to the same period in ...
IHG: First Quarter Trading Update to 31 March 2022
IHG Hotels & Resorts | May 13, 2022
Q1 group RevPAR up 61% vs 2021 and attaining 82% of 2019’s level Average daily rate up 27% vs 2021 and in line with 2019 Americas and EMEAA saw sequentially improved trading in February and March after a challenging January Greater China trading in March impacted by tightening of localised travel restrictions Gross system size growth of +4.9% YOY, +0.7% YTD; opened 6.6k rooms (45 hotels) in Q1, broadly similar to 2021 Net system size growth of +3.4% YOY (adjusted for Holiday Inn and Crowne Plaza removals in 2021), +0.5% YTD Global system of 885k rooms (6,028 hotels); 68% across midscale segments, 32% across upscale and...
Marriott International Reports First Quarter 2022 Results and Reinstates Quarterly Cash Dividend
Marriott International, Inc. | May 13, 2022
First quarter 2022 comparable systemwide constant dollar RevPAR increased 96.5 percent worldwide, 99.1 percent in the U.S. & Canada, and 88.5 percent in international markets, compared to the 2021 first quarter; First quarter 2022 comparable systemwide constant dollar RevPAR declined 19.4 percent worldwide, 14.5 percent in the U.S. & Canada, and 31.7 percent in international markets, compared to the 2019 first quarter; First quarter reported diluted EPS totaled $1.14, compared to reported diluted loss per share of $0.03 in the year-ago quarter. First quarter adjusted diluted EPS totaled $1.25, compared to first quarter 202...
Hilton to Open Its First Hotel in San Sebastián, Spain in 2024
Hilton | May 12, 2022
SAN SEBASTIÁN, Spain and MCLEAN, Va. – Hilton (NYSE: HLT) has today confirmed plans to open its first hotel in San Sebastián, Spain, following a franchise agreement with Sociedad Anónima Deportes y Espectáculos, S.A. – a wholly owned subsidiary of Grupo SADE. Palacio Bellas Artes Hotel San Sebastian, Curio Collection by Hilton is expected to open in 2024, following a redevelopment programme which will celebrate the building’s considerable history and architectural heritage. Grupo SADE will manage the hotel. Patrick Fitzgibbon, senior vice president, development, EMEA, Hilton said, “San Sebastián is a city which has a wealt...
