Hyatt earnings ahead
Hyatt delivered ebitda up 21.1% at USD178m in the fourth quarter. Global revpar improved 4.2% in the quarter with full service US hotels leading the portfolio, delivering a 7.0% uplift.
Occidental sale nears
AMResorts and Playa Hotels are among bidders looking to buy hotelier Occidental Hotels & Resorts. The company, owned by Zara clothing owner Amancio Ortega and Spanish bank BBVA, could fetch up to USD700m, reports Bloomberg.
Greener Melia beats targets
Hotel group Melia has cut carbon emissions by 7.3% and water use by 7.9%, beating its own green targets set out in a strategic plan. The company is also seeing the benefit of investing in replacing more than 22,000 lightbulbs at its European hotels with LED equivalents.
IHG celebrates 30 years in China
IHG is launching a series of events to mark 30 years of operating in the country. It opened the Holiday Inn Beijing Lido in 1984 and now claims to be the largest international hotel group in China with close to 200 hotels open.