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
Woodside Hotel Group Rebrands Bodega Bay Lodge to The Lodge At Bodega Bay
THE LODGE AT BODEGA BAY | March 3, 2022
Bodega Bay, CA – March 3, 2022 – Woodside Hotel Group, a collection of independent boutique hotels throughout Northern California, today announces the rebranding and renaming of Bodega Bay Lodge to The Lodge at Bodega Bay. Timed to its 50th anniversary, The Lodge at Bodega Bay was originally purchased in 1972 by the Alden family as a small motor lodge on a beautiful bluff overlooking the Pacific Ocean in Sonoma County, marking the creation of Woodside Hotel Group. Since, the Lodge has transformed into an elegant coastal hideaway, featuring 83 guest rooms with stunning ocean views and private balconies, most with wood-burning firepl...
Vail’s Austria Haus Hotel to Join Destination by Hyatt Brand
Destination by Hyatt | March 2, 2022
CHICAGO – March 2, 2022 – Hyatt Hotels Corporation (NYSE: H) announced today plans for the continued growth of the Destination by Hyatt portfolio with the upcoming addition of the 25-room Austria Haus Hotel in Vail, Colo. Expected to begin operating under the Destination by Hyatt brand in spring 2022, Austria Haus Hotel will continue to offer personalized guest service and luxury accommodations as one of the only boutique-style hotels in Vail Village. Inspired by authentic ski chalets of the Austrian Alps, the boutique Austria Haus Hotel welcomes travelers from around the world to experience western luxury and sophistication wrapped...
Radisson Hotel Group Expands in Asia Pacific With Signing of Inaugural Hotel in Papua New Guinea
RADISSON HOTEL GROUP | March 1, 2022
Radisson Hotel Group continues to break new ground in Asia Pacific with the signing of an agreement for the Grand Papua Hotel, a member of Radisson Individuals – its inaugural hotel in Papua New Guinea. Centrally located Port Moresby, overlooking the harbor and Coral Sea, the 16-storey Grand Papua Hotel had a strong reputation as being one of the country’s most popular places to stay. As a member of Radisson Individuals, Radisson Hotel Group’s newest affiliation brand, it will deliver to the standards of international hospitality while retaining its own distinct character and charm. Grand Papua Hotel, a member of Radisson Individuals...
Hyatt and ANTA Group Plan World’s First FILA-Branded Lifestyle Hotel in Shanghai
JdV by Hyatt | February 28, 2022
CHICAGO, IL – February 28, 2022 – Hyatt Hotels Corporation (NYSE: H) and ANTA Sports Products Co., Ltd. (ANTA Group) announced plans for the first-of-its-kind FILA-branded hotel in Shanghai – FILA HOUSE Shanghai. The hotel will make its mark on the global stage as the inaugural FILA-branded hotel in the world and by joining the JdV by Hyatt brand, FILA HOUSE Shanghai will bring a vibrant new experience to the local hotel scene. FILA, a global sports brand with a strong lifestyle appeal with more than 100 years of history, has gained recognition among high-end consumers for its unique fusion of fitness and fashion that is both spo...
Mandarin Oriental Hotel Group Partners With DAMAC for Private Island Resort in the Maldives
Mandarin Oriental Hotel Group | February 28, 2022
Mandarin Oriental Hotel Group has announced that it will manage a new resort on a private island in The Maldives that is scheduled to open in 2025. The resort is currently under development on a pristine Indian Ocean site and will stretch across three private islands on Bolidhuffaru Reef in South Male Atoll, accessed by an easy 20-minute speedboat ride from Male’s Velana international airport. Surrounded by white sand beaches and the vibrant coral reefs for which The Maldives is renowned, the resort will provide a picturesque backdrop from which to enjoy a variety of activities including wellness experiences and watersports. The accommo...
Meliá Hotels International Expands in Vietnam With Vinpearl Partnership
Meliá Hotels International | February 28, 2022
Hanoi, Vietnam - February 28, 2022 - Burgeoning hotel group, Meliá Hotels International, is set to become one of the largest international hotel brands in Vietnam through a new collaboration with the country’s largest domestic hotel owner, Vinpearl. Under the agreement, the leading Spanish hotel group will take over the management of 12 hotels and resorts already opened and in operation, in top destinations across the nation. “We believe in creating strong and strategic regional partnerships with companies that have a deep connection to the locations they serve,” said Gabriel Escarrer, Vice Chairman and CEO of Meliá Hotels...
Chatham Lodging Trust Announces Solid Fourth Quarter 2021 Results
Chatham Lodging Trust | February 25, 2022
WEST PALM BEACH, FL — February 25, 2022 — Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced results for the fourth quarter ended December 31, 2021. Fourth Quarter 2021 Operating Results Portfolio Revenue Per Available Room (RevPAR) – Increased 93 percent to $92 compared to the 2020 fourth quarter. Average daily rate (ADR) accelerated 36 percent to $141, and occupancy jumped 43 percent to 65 percent for the 40 comparable hotels owned as of December 31, 2021 (excludes one Austin hotel...
U.S. Hotel Development Cost Survey 2021-22
John Berean | February 25, 2022
Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source provides the basis for our illustrated total development costs per room/per product type. HVS has tracked hotel construction budgets throughout the United States since 1976. Download PDF - U.S. Hotel Development Cost Survey 2021-22...
Dual-Branded Canopy by Hilton and Homewood Suites by Hilton Downtown The Gulch Announces Signing, Breaks Ground in Nashville
Hilton | February 24, 2022
The 333-room property will be Hilton’s first dual-branded hotel in downtown Nashville when it opens in 2024 NASHVILLE, Tenn. and MCLEAN, Va. - Today, Hilton announced the signing of and has broken ground on the dual-branded Canopy by Hilton and Homewood Suites by Hilton Nashville Downtown The Gulch, in partnership with Tara Investments. The 11-story property, which will mark Hilton’s first lifestyle hotel in Nashville, is slated for completion in 2024. The development will showcase the city’s first Canopy by Hilton, Hilton’s vibrant, boutique lifestyle hotel brand that provides an authentically local experience. “We are thri...
Sands Completes Sale of The Venetian Resort in Las Vegas
Sands | February 24, 2022
LAS VEGAS, NV - February 24, 2022 - Las Vegas Sands Corp. today announced it has completed the approximately $6.25 billion sale of The Venetian Resort (The Venetian, Palazzo and Venetian Expo) to affiliates of Apollo Global Management, Inc. and VICI Properties Inc. "The opening of The Venetian more than 20 years ago represents the beginning of the company's success. The property, and most importantly, the people who represent it every day will always remain indelible parts of our history," said Las Vegas Sands Chairman and Chief Executive Officer Robert Goldstein. "Looking forward from the sale, we believe our strong balance...
Hyatt Unveils Plans for Hyatt Regency London Blackfriars
Hyatt Hotels Corporation | February 24, 2022
CHICAGO, IL – February 24, 2022 –Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Blackfriars Hotels Limited for Hyatt Regency London Blackfriars. Anticipated to open in July 2022, the 204-room Hyatt Regency hotel will join nine additional Hyatt-branded properties in London, marking another milestone in Hyatt’s ambitious brand growth strategy for the U.K. in one of London’s busiest districts. With global corporations, businesses and law firms calling the surrounding area 'home,' Hyatt Regency London Blackfriars will be intuitively designed with productivity in m...
Marriott Signs With Cola Holdings and The Westbury Hotel Limited to Bring Iconic St. Regis Brand to the UK
Marriott International | February 24, 2022
Marriott International, Inc. today announced it has signed a management agreement with Cola Holdings and The Westbury Hotel Limited to bring the storied St. Regis brand to the well-heeled area of Mayfair, London. Combining timeless glamour with a vanguard spirit, this highly anticipated signing will bring the brand’s signature Butler Service, celebrated rituals, and rich heritage to one of London’s most alluring neighbourhoods. Solidifying St. Regis’ position as a global leader in luxury, The St. Regis London is expected to welcome its first guests in 2023, offering a highly personalised guest experience on the corner of Bond Stree...
Alex. Brown Realty and Hotel Development Partners Sell Courtyard Atlanta Alpharetta/Avalon Area Hotel
Alex. Brown Realty | February 23, 2022
BALTIMORE, MD - February 23, 2022 - Alex. Brown Realty (ABR) and Hotel Development Partners (HDP) are pleased to announce the sale of the Courtyard by Marriott Atlanta Alpharetta/Avalon Area to an entity backed by JMREI and Lionshead Capital Partners. The Atlanta team of Hodges Ward Elliott brokered the transaction. The ABR/HDP joint venture developed the 115-room Courtyard, which opened in early-2019. “We are proud to have brought this state-of-the-art Courtyard to Alpharetta. It was extremely well-received and is among the finest examples of the Courtyard brand,” said Allen O'Brien, CEO of HDP. Hotel Equities, an affiliate of HDP, ...
Pebblebrook Hotel Trust Reports 2021 Results
Pebblebrook Hotel Trust | February 23, 2022
HOTEL OPERATING TRENDS Performance improved throughout the year; December 2021 was the strongest month versus 2019 based on RevPAR, Total Revenue, and Hotel EBITDA, led by robust demand at the Company’s resorts and a continuing gradual recovery in business travel Leisure demand remains extremely healthy, with rate premiums expected to continue throughout 2022 Most of the 2022 business groups that canceled in January and February are rebooking in March through June at higher overall average rates Business travel demand is already improving in March and is expected to continue to accelerate its recovery into Q2 Labor shortage...
Hilton Signs With PT Surya Semesta Internusa to Debut LXR Hotels & Resorts in South East Asia
LXR Hotels & Resorts | February 23, 2022
SINGAPORE - February 23, 2022 - Leading global hospitality company Hilton (NYSE: HLT) today announced the signing of an LXR Hotels & Resorts property in Bali, Indonesia with PT Surya Semesta Internusa Tbk. Set to open as the first LXR-branded resort in South East Asia in late 2022, the 72 all-villa resort will join a collection of unique, independent luxury properties around the world, which includes the recently opened ROKU KYOTO, LXR Hotels & Resorts in Japan. “We are thrilled to partner with PT Surya Semesta Internusa Tbk to introduce LXR’s unique approach to luxury hospitality in Bali, one of the world’s mos...
China’s Travel & Tourism Sector Could Reach CNY 11 Trillion This Year, Says WTTC
WTTC | February 22, 2022
London, UK - February 22, 2022 - New research from the World Travel & Tourism Council (WTTC) has revealed China’s Travel & Tourism sector’s contribution to GDP could reach CNY 11 trillion this year, just 5.2% short of pre-pandemic levels. In 2019, before the pandemic struck, China’s Travel & Tourism sector’s contributed CNY 11.5 trillion to GDP (11.6% of the country’s economy). However, in 2020 the pandemic had a major impact on the sector and Travel & Tourism’s contribution to the Chinese economy fell by a staggering 59.9%, to CNY 4.6 trillion. Latest research from the global tourism body shows that as t...
Hyatt Partners With Exacorp One to Bring Thompson Hotels Brand to Spain
Hyatt Hotels Corporation | February 22, 2022
CHICAGO, IL - February 22, 2022 - Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into an agreement with Exacorp One S.L. for the first Thompson Hotels property in Spain: Thompson Madrid. Slated to open in Summer 2022, the 175-room luxury lifestyle hotel will mark a significant milestone for Hyatt as the brand celebrates its thoughtful growth in Europe with its debut in Spain. Perfect for both business and leisure guests, Thompson Madrid will be located in the centre of the new Golden Mile of Madrid, and steps away from the most visited icons of the city, Puerta del Sol and the eclectic Gran Vía st...
IHG Releases Preliminary Results for the Year to 31 December 2021
IHG Hotels & Resorts | February 22, 2022
Reported Underlying1 2021 2020 %Change2 %Change REPORTABLE SEGMENTS1 Revenue2 $1,390m $992m +40% +39% Revenue from fee business1 $1,153m $823m +40% +38% Operating profit1 $534m $219m +144% +138% Fee margin1 49.6% 34.1% +15.5%pts Adjusted EPS1 147.0¢ 31.3¢ +370% GROUP RESULTS: Total revenue $2,907m $2,394m +21% Operating profit/(loss) $494m $(153)m NM Basic EPS 145.4¢ (142.9)¢ NM Total dividend per share 85.9¢ - ¢ NM Net debt1 $1,881m $2,529m (26)% KEY METRICS: ...
Middle East Construction Pipeline Sees Slight Growth for the Second Consecutive Quarter
Lodging Econometrics | February 22, 2022
PORTSMOUTH, NH – February 22, 2022 – According to the Lodging Econometrics (LE) Q4 2021 publication of its Construction Pipeline Trend Report for the Middle East, the hotel construction pipeline in the region presently stands at 546 projects/150,547 rooms. Following an eight consecutive quarter downward trend, this is the second consecutive quarter project counts have increased in the region since Q3 ‘19. Projects currently under construction stand at 337 projects/102,821 rooms, a 4% by project and 9% by rooms drop year-over-year (YOY). Projects scheduled to start construction in the next 12 months are up 5% by projects and 20% by r...
Beulah and Four Seasons Hotels and Resorts Bringing New Hotel to Melbourne, Australia
Four Seasons Hotels and Resorts | February 21, 2022
Taking luxury to new heights as part of the STH BNK By Beulah development, the Hotel will be located in what is set to be the world’s tallest vertical garden Award-winning Melbourne property developer, Beulah, today announces that Four Seasons Hotels and Resorts, a global leader in luxury hospitality, has been chosen to manage the hotel within its new AUD 2.7 billion development, STH BNK By Beulah. Four Seasons Hotel Melbourne will include 210 rooms, crowning the western tower of STH BNK By Beulah, and will see guests arrive via a Sky Lobby situated on the 63rd floor, boasting panoramic views over Melbourne’s city skyline, beachfr...
Grand Nikko Bangkok Sathorn to Open In 2025
Hotel Okura Co., Ltd. and Okura Nikko Hotel Management Co., Ltd. | February 21, 2022
TOKYO - February 21, 2022 - Okura Nikko Hotel Management Co., Ltd., a subsidiary of Hotel Okura Co., Ltd., is pleased to announce it will open the Grand Nikko Bangkok Sathorn in 2025. The new hotel will be located in the Sathorn district of Bangkok, an international area of Thailand’s capital city that is home to many leading domestic and foreign companies and embassies. Grand Nikko Bangkok Sathorn will offer 405 guest rooms, each with a standard area of about 40 square meters, including 36 guest rooms designed for longer stays. The hotel will offer an all-day dining facility, a teppanyaki restaurant and a restaurant serving general J...
Kimpton Hotels & Restaurants Set to Open Denver Tech Center’s First Boutique Hotel in Early 2024
KIMPTON HOTELS & RESTAURANTS | February 21, 2022
SAN FRANCISCO, CA – February 21, 2022 – Today Kimpton Hotels & Restaurants, part of IHG Hotels & Resorts’ Luxury & Lifestyle Collection, announced plans to open the first lifestyle hotel in the burgeoning Denver Tech Center neighborhood in early 2024. Marking the boutique hotel brand’s third property in the Mile High City, Kimpton Denver Tech Center will offer elevated stay experiences and locally inspired restaurant and bar concepts for the Belleview Station development and its surrounding businesses and local residents. Owned by DTC Hospitality Investors, LLC, and developed by Cypress 16, LLC in conjunction with McClu...
Choice Hotels International Reports 2021 Fourth Quarter And Full-Year Results
Choice Hotels | February 17, 2022
ROCKVILLE, MD - February 17, 2022 - Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, today reported its results for the three months and year ended December 31, 2021. "The past year was truly remarkable for Choice Hotels, as we have positioned the company to benefit from the acceleration of consumer trends that favor leisure travel, limited-service hotels and longer stay occasions," said Patrick Pacious, president and chief executive officer, Choice Hotels. "The deliberate investments in our brands and our franchisee pricing optimization and merchandizing tools enabled us to capt...
Hyatt Reports Fourth Quarter and Full-Year 2021 Results
Hyatt Hotels Corporation | February 17, 2022
CHICAGO, IL - February 17, 2022 - Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported fourth quarter and full-year 2021 financial results. Net loss attributable to Hyatt was $29 million, or $0.26 per diluted share, in the fourth quarter of 2021, compared to net loss attributable to Hyatt of $203 million, or $2.00 per diluted share, in the fourth quarter of 2020. Adjusted net loss attributable to Hyatt was $306 million, or $2.78 per diluted share, in the fourth quarter of 2021, compared to Adjusted net loss attributable to Hyatt of $179 million, or $1.77 per diluted share, in the fourth quarter of 2020. Refer to the ...
