China Lodging steady
China Lodging Group saw occupancy edge back to 86% and average room rate slip to RMB171 in the first quarter. The slip in performance also hit like for like figures for hotels open at least 18 months.
Accor has appointed John Ozinga the new COO of HotelInvest, its property division. He joins from CBRE Global Investors, where since 2012 he has headed the group's French operations. Ozinga has more than 20 years of experience in the real estate industry. His previous positions have been at Carrefour and Groupe Casino.
Ibis roadside additions
Accor has signed to add two Ibis Budget hotels in the UK. The franchise agreement with Think Options will convert a 61 room hotel in Warrington and 32 room hotel in Knutsford.
Holiday Inn for Stavropol
IHG has signed to open a Holiday Inn in Stavropol, Russia, the city's first internationally branded hotel. The 242 room property is scheduled to open in 2017.
London deal volume up
London's hotel investment market saw activity up 155% in the first quarter, compared with the start of 2013. There was a 33% increase in Asian investor activity, while private equity investors accounted for more than a quarter of the investment volume, reports JLL.