News Archive: November
Kimpton Hotels Reveals First Glimpse of Seafire, Its New Grand Cayman Resort Opening in 2016
Seafire Resort & Spa, Seven Mile Beach, Grand Cayman | November 11, 2015
Cayman Inspired Resort Represents First New Resort Development Along Famed Seven Mile Beach in 10 Years (GRAND CAYMAN) – November 11, 2015 – Kimpton Hotels introduces Seafire Resort + Spa, Seven Mile Beach, Grand Cayman as it officially begins its one-year countdown to opening in November 2016. Seafire reflects Kimpton's first new build venture in a dedicated resort market and will be the first property outside the continental U.S. within the brand's current portfolio. It also holds the honor of being the first new development along Seven Mile Beach in more than a decade. Seafire represents Kimpton's take on what a playful ...
The Marriott-Starwood Merger’s Impact on Owners, Franchisees and Developers
Robert E. Braun | November 25, 2015
By Jim Butler and the Global Hospitality Group® | Authors of www.HotelLawBlog.com November 2015 As the biggest merger in the history of the hospitality industry, the Marriott-Starwood merger, is grabbing headlines worldwide. Most of the recent press has focused on the sheer size of the potential transaction. But in his article below, my partner and hotel lawyer Bob Braun, considers the practical impact of the merger on hotel owners, franchisees and developers. With the loss of the Starwood family of brands as an independent and significant competitive force in the industry, the merger will bring mixed blessings to stakeholders. The ...
Marriott CEO Says He Will ‘Cull’ Subpar Sheraton Hotels
November 18, 2015
Nov. 18--As Marriott International works to complete its $12.2 billion acquisition of Starwood Hotels, its CEO said he would move aggressively to "cull the bottom end" of Starwood's Sheraton brand if hotel owners fail to maintain base standards under the Marriott flag. The acquisition of Stamford-based Starwood (NYSE: HOT) would make Marriott (Nasdaq: MAR) the world's largest hotel company with some 1.1 million rooms. With Sheraton alone having more than 137,000 rooms globally, the brand would have significant heft under Marriott, with about 13 percent of the combined company's room count. Sheraton has been saddled...
Marriott To Acquire Starwood Hotels & Resorts Worldwide, Creating The World’s Largest Hotel Company
Marriott International, Inc. | November 16, 2015
BETHESDA, Md. and STAMFORD, Conn., Nov. 16, 2015 -- Marriott International, Inc. (NASDAQ: MAR) and Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced today that the boards of directors of both companies have unanimously approved a definitive merger agreement under which the companies will create the world's largest hotel company. The transaction combines Starwood's leading lifestyle brands and international footprint with Marriott's strong presence in the luxury and select-service tiers, as well as the convention and resort segment, creating a more comprehensive portfolio. The merged company will offer broad...
JLL’s Hotels & Hospitality Group Respond to Marriott Acquisition of Starwood Hotels
JLL | November 16, 2015
16 November, 2015 Commenting on the announcement that Marriott has acquired Starwood Hotels, Mark Wynne Smith, Global CEO of JLL's Hotels & Hospitality Group, said: "This merger has created the world's biggest player in the hotel sector, opening a big gulf between the next largest players, Intercontinental Hotels Group and Hilton. "We will now start to see further merger activity as other hotel groups seek to match the titanic organisation that Marriott and Starwood have created. Consolidation among the major brand companies has been talked about for a number of years and boards are biting the bullet on the need to...
IHG Issues Statement Regarding Press Speculation on Potential Sale or Merger
IHG | November 6, 2015
Following recent market speculation, the Board of Directors of IHG states that it is not considering a potential sale or merger of the company. ...
Your Front Desk Team Is Key to Meeting Your ADR Goals in 2016
Doug Kennedy | November 10, 2015
By Doug Kennedy November 10, 2015 If you are like most hoteliers, chances are that this time of year you have just about completed your budget for 2016. If your owner representatives are like most investors, chances are also that despite having experienced several years of record growth, they are looking for you to increase RevPAR once again in 2016. Most market areas have already experienced a leveling off in occupancy growth here in 2015 and if your area is forecasting a growth in demand next year you can count your blessings. However, for the majority of hotels, the only way to achieve a higher RevPAR next year is going to be to achi...
Marriott’s Plan to Buy Starwood for $12.2 billion Could Trigger More Hotel Mergers
November 17, 2015
Nov. 17--Marriott International Inc.'s plan to acquire Starwood Hotels & Resorts Worldwide Inc. will create the world's largest hotel company and could trigger more mergers as rivals jockey to compete. The deal announced Monday to unite Marriott and Starwood, valued at about $12.2 billion, would create a hotel company with 5,500 hotels and more than 1.1 million rooms in more than 100 countries. The new behemoth would own 30 hotel brands including the Ritz-Carlton, JW Marriott, Courtyard, St. Regis, W, Sheraton and Westin. In the hotel world, "it's the biggest transaction of our lifetime," said Bjorn Hanson, a p...
