Morgans Ebitda up 10%
Morgans Hotel Group has reported adjusted Ebitda up 10% on the year to USD8.2m in the first quarter.
The company saw revpar up 2.5% and announced that, on 1 May, it had implemented a restructuring at its owned, joint venture and managed hotels from which it expected to see annualised savings of approximately USD9.0m.
Strategic ‘highly productive’ Q1
Strategic Hotels & Resorts has reported a 7.4% increase in revenues on the year for the first quarter, to USD194.7m, on the back of strong performance in the US.
Revpar increased 9.2% with non-rooms revenue growing by 12.0%.
Priceline up on emerging growth
Priceline Group reported a 26% increase in quarterly revenue, to USD1.64bn, driven by growth in newer markets such as Asia-Pacific, South America and Eastern Europe.
The company warned that second-quarter profit would be below estimates, citing a decline in its “name-your-own-price” segment.
Roomzzz for Dubai
Aparthotel brand Roomzzz has confirmed that its first overseas site will be in Dubai.
Mark Walton, head of Roomzzz, said: “We have had a lot of interest from key players in the international hotel community looking for opportunities to be connected with the Roomzzz brand, we feel the UAE is the ideal springboard for Roomzzz to debut on a global scale.
Amadeus commits to hotels
Amadeus reported a 9% rise in first quarter revenue, to EUR867.6m, backed, it said, by “strong organic growth”.
Oberoi signs with Ritz-Carlton
Oberoi Realty is reported to have signed with Ritz-Carlton to manage the hotel component of a mixed-use project in Mumbai.
“We have been searching for a perfect location for a premium hotel in Mumbai for several years with the right partners.
Hotel for Thatcher hall
The city hall in which Margaret Thatcher gave her first public speech as prime minster could be turned into a hotel.
The London Times reports that developer Seventy Group has applied for planning permission to convert Perth City Hall.
Ritz Madrid marketed
Reports suggest that the Ritz in Madrid is being marketed for owners Omega Capital and Orient Express Hotels.
The pair acquired the site for EUR125m in 2003 from Le Meridien and are thought to have appointed JLL to manage the sale. It is thought that the hotel could stay under management with Orient-Express, as Belmond, or could be sold free and clear of any contract.