Issue 18: 16th May 2018

    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 [...]