The intelligence source for
the hotel investment community

    China Lodging takes Accor stake

    China Lodging has acquired a 4.5% stake in AccorHotels to strengthen the pair’s partnership, which was first announced at the end of 2014. The news came as AccorHotels continued its own acquisitions strategy, buying Chilean group Atton Hoteles for USD105m. China Lodging and AccorHotels formalised their initial relationship into a strategic alliance in 2016, with [...]

    Belmond ‘within range’ of five-year goal

    Belmond said that it expected to outperform its organic growth target this year, describing the brand as “gaining traction”. President & CEO Roeland Vos reiterated that the company’s complex share structure – described by one analyst as a “cloud” over the group – would “not be there forever”. The company was approaching the halfway point [...]

    HNA launches NH stake sale 

    HNA Group has begun the sale process for its 29.5% stake in NH Hotels, having received several expressions of interest in the shares, worth around EUR650m. The news came as NH and fellow Spanish operator Meliá Hotels International reported strong first quarter results, despite comments from tour operators describing high rates in the groups’ domestic [...]

    M&C looks to ‘significant’ investments

    Millennium & Copthorne said that it was planning a number of significant capital investment projects this year. The comments were made as the region’s operators looked to upgrade their own estates, while turning their attention to growth through management contracts. M&C chairman Kwek Leng Beng said: “We are on track to move forward on a [...]

    Ascott signs jv with China Lodging 

    Ascott has signed a joint venture agreement with China Lodging to expand its portfolio in China, with a target of 16,000 units under the Citadines brand by 2025. Ascott also plans to grow its Ascott, Somerset and Tujia Somerset brands in key Chinese markets. The joint venture will also include CJIA Apartments Group, a subsidiary [...]

    Ettsa claims direct cost 

    Ettsa, the organisation representing OTAs and GDSs, released a study showing that direct bookings had no measurable impact on hotels’ costs, but could hit occupancy rates. The report followed a series of quarterly results in which the global operators hailed the success of their direct booking strategies. The study showed a 0.03% difference in net [...]

    Algonquin sale targets institutions

    Schroders has made a big move into the hotel sector with the acquisition of Algonquin, for an undisclosed fee. Algonquin founder Jean-Philippe Chomette told us that the deal would open the company up to greater interest from the institutions. Chomette said: “It was the right time to sell Algonquin and move it onto a more [...]

    Marriott looks out from the US

    Marriott International said that it was leaning on the international markets to drive revpar expansion, with organic growth in the US having peaked. And the company says that it is now able to enter the homesharing market in a way that complies with the law. CEO Arne Sorenson was confident that its homesharing trial in [...]

    IHG to rebrand Principals

    InterContinental Hotels Group is to rebrand 12 hotels in the Principal portfolio acquired by Foncière des Régions, with flags to include Kimpton. CFO Paul Edgecliffe-Johnson said that the deal would also allow the group to “quickly establish a position for our soon-to-be launched new upscale brand”. The deal also includes one site still in the [...]

    Reits get active 

    Park Hotels & Resorts used its first-quarter results to announce a “second phase” of asset sales, having already cut its holdings outside the US. The comments were made as Host Hotels & Resorts hailed the results of the global operators’ book direct policies, which were helping to drive improved results. At Park Hotels & Resorts, [...]

    TUI to bolster own-brand hotels

    TUI Group said that the company would continue to grow its own-brand hotels, after opening new TUI Blue properties in Spain and Turkey. As TUI was extending its offering, TripAdvisor reported a 5% fall in revenue growth in its hotels segment, but shares rose on confidence for the brand as a whole. At TUI Group, [...]

    Wyndham to pursue acquisitions 

    Wyndham Hotel Group said that, as it split off from its parent company, it planned to continue making brand acquisitions. The comments came as fellow franchisor Choice Hotels International hailed the diversity of its portfolio as it promised key money for the upscale Cambria brand.  At Wyndham Hotel Group, Geoff Ballotti, CEO, told analysts: “We [...]

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