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    Colorful euro banknotes

    Why did the UK vote out and what does it mean?

    [This is a personal view by Andrew Sangster]: Right now, it is nearly impossible to forecast what the long term impact of the result of the UK referendum on membership of the European Union will be. Even so, there have been some smart guesses as to what lies ahead in the very short term following [...]
    belmond

    Belmond looks to USD1bn growth plan

    Belmond has set a target of double the number of hotels and double the level of Ebitda by 2020, including plans to raise USD1bn to fuel growth. The company hosted an investors’ day, at which the CEO confirmed that the company would dismantle its dual class share structure, which has previously provoked criticism that too [...]
    NoCo

    Brands expand as new flags raised

    Ennismore has announced a new brand, NoCo, aimed at challenging “the status quo of budget brands”, with a target of up to 25 sites in seven years. The launch came as aparthotel brand Roomzzz announced its first site in London, as competition for sites builds. Ennismore, the team behind The Hoxton, said that booking and [...]
    Starwood St Regis

    Starwood sell-off continues

    Starwood Hotels & Resorts has sold two hotels in Florence to Qatar-based Nozul Hotels & Resorts Group. The news came as speculation suggested that the European Commission was set to approve the merger between Starwood Hotels & Resorts with Marriott International, putting a new set of owners under Marriott’s auspices. The move is part of [...]
    euro-market-outlook

    EC to fact-find on parity

    The European Commission has presented its approach to online platforms, intended to create a “the right environment” for growth, but with an eye to potential regulation. The EC is to launch a fact-finding mission into issues such as rate parity clauses used by online travel agents, which it felt currently fell under current EU competition [...]
    ctrip

    Ctrip hunts outside China

    Ctrip reported a 70% increase in accommodation reservation revenues, following its merger with rival Qunar. The company said that it was looking to outbound travel and its relationship with The Priceline Group to drive future growth. CFO Cindy Wang told analysts: “Outbound trend is growing very strongly. We will make sure we have sufficient inventory [...]

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