Issue 37:3rd October 2017

    StarCap to kick start Yotel

    Starwood Capital is to invest USD250m in Yotel, giving it a 30% stake in the group. The company will now pursue expansion in North America, Asia and Europe, as well as the renovation of existing properties. Barry Sternlicht, chairman & CEO, Starwood Capital, said: “This strategic partnership and investment highlights Starwood’s longstanding passion and commitment [...]

    UNWTO gets ethical

    The UNWTO has approved a framework convention on tourism ethics, which it said would ensure that tourism development was done with full respect for sustainable development, social issues, and local community development. The news came as the organisation appointed Zurab Pololikashvili, current ambassador of Georgia to Spain, Morocco, Algeria and Andorra, as secretary general for [...]

    Safestay riding momentum

    Safestay said that it would continue to expand in the UK, using its results to described a “sense of momentum”. The company is looking to expand through extending existing sites in addition to acquisition, adding seven properties in Europe during the first half. Chairman Larry Lipman said: “There is a sense of momentum building within [...]

    Luxury supply threatens London

    Rosewood Hotels is to open its second hotel in London after being awarded the management contract for the soon-to-be former US embassy, by owner Qatari Diar. The news came as London was facing a 12% increase in its luxury room stock, according to CBRE Hotels, with PwC warning that luxury operators were seeing a weakening [...]

    Accor sells India stake

    Accor is reported to be selling its 40% shareholding in its Indian subsidiary Barque Hotels, to Samhi Hotels, which owns the remaining 60%. Samhi Hotels recently acquired Whitbread’s Premier Inn estate in the country and is thought to be in the process of rebranding them to the Fairfield by Marriott flag. The deal is expected [...]

    Points mean Amazon

    Hilton has gone live with its offer to allow loyalty programme members to use their points on Amazon. The option came as Magnuson Hotels launched its new rewards programme with the offer of a USD25 Amazon gift card for every 10 nights booked direct. Members of Hilton’s Honors scheme will now be able to pay [...]