• Issue 964

Earnings up at Hyatt

Hyatt saw revpar up 7.7% systemwide in the first quarter, with ebitda up 31.3%. Hotels in the Asia region showed weakest growth, with a 2% decrease in ADR offset by occupancy improvement.

Read more

Strong pound hits M&C

Millennium & Copthorne saw headline revpar and profits decline in the first quarter, due to currency movements. In constant currency terms, group revpar was up 2.5% with group revenue up 5.9%.

Read more

Apollo European deal

Investor Apollo Global Management has acquired a EUR425m portfolio of 18 hotels across Europe. The package, bought from Ivanhoe Cambridge, includes IHG flagged hotels in Germany, Austria, Belgium, France, Holland and Spain, reports Property Week.

Read more

Ukraine effect hits Russian hotels

Russian hotels could see business drop by more than a fifth as a result of the Ukraine crisis. Already, European and US visitors are cancelling planned trips due to security fears, reports Bloomberg.

Read more

London tops price league

London is Europe’s most expensive capital to stay in, with Q1 prices up 13% compared with a year ago. At close to GBP116 a night, the average room rate puts London ahead of Zurich and Moscow, reports HRS.

Read more

Share →