Issue 2578 - 20 November, 2020

    Dusit picks up

    Thai group Dusit Thani reported third quarter revenues of THB643m, up 51.65% on the previous quarter. With government easing travel restrictions, the group expects a further improvement in Q4. Despite the improvement, Dusit still registered a THB343m net loss in Q3. The group has continued to expand, opening hotels in Doha, Guam, Suzhou, Bangkok and [...]

    Accor links with Qantas

    Accor has signed a deal with Australian airline group Qantas, to directly link the pair’s loyalty programmes. Members of either programme will simultaneously earn points in both, and have more redemption choices. The deal, which goes live from mid 2021, will aim to boost Accor’s 1,240 hotels across Asia Pacific. The airline already allows Qantas [...]

    Staycity refinances

    Irish group Staycity has agreed a EUR70m refinancing to enable it to continue with planned expansion. The Ireland Strategic Investment Fund has taken a 13% stake in the business, as part of the deal. OakNorth bank has agreed a EUR33m loan alongside the equity raise, to repay debt and add further liquidity. Staycity, which has [...]

    Holiday Inn trades

    Investors Catella Hospitality Europe and Extendam have bought the largest Holiday Inn in France. The 262 room hotel in Porte de Clichy, Paris was sold by a Swiss family office. The hotel will be refurbished while trade is depressed, and Catella will operate it under a franchise agreement. The agreed price represented a significant discount [...]