Great quarter for IHG
IHG has reported revpar up 7% in the third quarter, its best quarterly performance for two years. The US market led, up 8.4%, while greater China saw a rise of just 0.8%.
Whitbread hits records
Whitbread saw Premier Inn sales up 14.7% in the first half, with revpar up 8.8%. Hotel occupancy reached a record 84%.
Dutch market strong
Hotels in Amsterdam enjoyed an 11.5% increase in overnight stays, in the first half of 2014. The city outperformed the country as a whole, which say a 6.85% growth to 18.69m visitors, report Savills.
Dominvs Oxford buy
Dominvs Hospitality has bought a site in central Oxford for a 120 room hotel development. The four star property will sit between the city’s Malmaison hotel and Oxford castle.
Athens Hilton up for grabs
Bidders Oaktree Capital and Jermyn Street Management are lining up to buy the Athens Hilton. The sale, by Alpha Bank’s subsidiary Ionian Hotel Enterprises could realise up to EUR180m, says the Greek Reporter.