Issue 19: 16th May 2017

    Hotels accused of ‘freeriding’ OTAs

    Italy has become the latest country to move towards banning rate parity, joining Austria, France and Germany. Expedia, Inc, responded that banning rate parity rules allowed the “freeriding of hotels on the investments made by online travel agents”. Expedia, Inc, told us that it was concerned that the prohibition of MFN [most favoured nation] clauses [...]

    Marriott hails ‘tremendous’ integration

    Marriott International saw its share price rise by 6.4% after announcing that it was making “tremendous progress” on the integration of Starwood Hotels & Resorts. The company raised its full-year Ebitda guidance and said that hotels were seeing the benefits of better agreements with the online travel agents. President & CEO Arne Sorenson told analysts: [...]

    Rezidor’s change at the top

    Rezidor Hotel Group announced that Wolfgang Neumann was stepping down, to be replaced by Federico González-Tejera, the former CEO of NH Hotel Group and, briefly, global CEO, Carlson Hotels Group. Rezidor and Carlson Hotels will create a global steering committee, chaired by González, to “provide overall strategic direction to both companies”. Neumann will remain on [...]

    IHG stays organic

    InterContinental Hotels Group used its first-quarter results to continue to resist calls for consolidation, with CEO Richard Solomons maintaining that the group had sufficient scale. The results came alongside the news that Solomons was retiring after 25 years at the company, to be replaced by COO Keith Barr. Solomons told analysts: “Greater scale adds value, [...]

    Owners shuffling portfolios

    The benefits of owning a geographically-diverse portfolio of assets were extolled by both Pandox and Park Hotels & Resorts in their first-quarter results. Pandox said that it would continue to expand, while, at Park Hotels & Resorts, the Reit said that it would “remain on the sidelines” in terms of acquisitions and was planning to [...]

    TripAdvisor relaunch as AH&LA attacks

    TripAdvisor used its results to announce the relaunch of its hotel shopping experience, supported by a TV marketing campaign. The news, released alongside The Priceline Group and Ctrip’s results, came as the American Hotel & Lodging Association planned to lobby against the “unfair” practices of online travel companies. TripAdvisor CEO Steve Kaufer told analysts: “We’ll [...]

    Owners look to management

    Hyatt Hotels Corporation said that it was leaning on its select service hotels for growth, while also remaining active in the hotel transactions market. At Hyatt, the company said that more than 50% of its executed contracts were for Hyatt Place and Hyatt House hotels. The current pipeline represents nearly 38% of the group’s existing [...]