Hyatt enjoys US strength
Hyatt increased earnings 12.6% in the third quarter as it increased revpar by 7.6%. While hotels in the Americas performed well, those in Asia saw operating margins slip.
Accor digital push
Accor will spend EUR225m over five years on a new digital strategy. It has bought French start-up Wipolo and will respond to the move to mobile, and demands for a more personalised, seamless digital experience.
Middle East recovery
Luxury hotels in Abu Dhabi had a strong September, pushing up room rates 4.2% as occupancy grew 6.6% to 76.6%. The progress is expected to continue into the high season, reports
Millennium & Copthorne saw revpar improve 5.5% in the third quarter as revenues rose 6.2% to GBP215.9m. The improvement was across all regions, helped by better contributions from refurbished properties.
Fibra adds five
Acquisitive Mexican Reit FibraHotel has signed a deal to acquire five internationally branded hotels, due for completion over the next two years. The properties will be developed by Grupo Plan and Grupo Favier in five Mexican cities.