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The intelligence source for the hotelisation of real estate

    Oyo faces discounting accusation 

    Hotelier groups in India have complained that their contracts with Oyo Rooms have meant them suffering deep discounting and high commissions. The comments came as Oyo saw a USD103m investment from ride-hailing group Grab and made a move into the business travel market. The Budget Hotel Association of Mumbai told the Economic Times “Oyo has [...]

    Fattal to continue Europe expansion

    Fattal used its third-quarter results to reaffirm its commitment to expanding in both its domestic market and in Europe. Ahead of the results announcement, the company acquired a site in Manchester, on which it planned to build its second property in the city. The company reported a 41% growth in revenue in the third quarter, [...]

    Red Planet eyes evolving Japan

    Red Planet Japan has formed a joint venture with GreenOak Investment Management to develop Red Planet-branded hotels in Japan. The deal came as Marriott International signed 12 Fairfield by Marriott hotels in the country, to take advantage of the “robust” growth in visitors to the country. At Red Planet, joint venture will see GreenOak invest [...]

    Corporate market backs away from direct 

    Business travellers were returning to using corporate booking tools after a move into using suppliers directly, according to a study from SAP Concur and GBTA. The shift was caused in part by more options now being available to the corporate platforms, as platforms such as Airbnb have been integrated. The report found that booking flights [...]

    Brexit chaos begets chaos

    The continuing lack of an agreement ahead of the UK’s planned exit from the EU in March has meant a sector under growing strain. As the likely timing of a deal moves further and further away, issues of staffing, costs of imports and fears over future travel were foremost. Jane Pendlebury, CEO, Hospa, told Hotel [...]

    TUI makes platform focus

    TUI Group used its full-year results to point to its future as a “platform”, while also reiterating its enthusiasm for blockchain technology. The company maintained its guidance of at least 10% CAGR in underlying Ebita for the three years to full-year 2020. CEO Fritz Joussen said: “We are investing, we are growing with TUI’s high-margin [...]

    Marriott faces fines over breach

    Marriott International faced the potential for extensive fines after revealing a security breach at hotels it acquired with the purchase of Starwood Hotels & Resorts. The company saw its share price fall by almost 6% on the news, as the importance of doing thorough diligence on intangible as well as tangible assets was cast into [...]

    Expedia moves closer to consumers

    Expedia Group has shifted its strategy from being about transactions to being more customer-centric, attendees at the group’s Explore ’18 event in Las Vegas were told. The company was eager to illustrate the ways in which it worked with its hotel partners, but the strategy was likely to clash with the operators’ direct booking strategies. [...]

    AccorHotels to “unleash” its potential

    AccorHotels used its capital market day to described its “numerous acquisitions” as behind it, as it focused on its strategy to “unleash the group’s full potential”. The comments came the day after the company announced an offer for the 47.31% of Orbis which it did not already own. The group said that it was aiming [...]

    Thomas Cook overheats

    Thomas Cook issued a profits warning ahead of its full-year results, blaming the hot summer, but described 2018 as an “outlier”, with 2019 starting “well”. The company said that it would continue to pursue growth through its own brands, with at least 20 new hotel openings planned across Europe. The company saw its share price [...]

    Trademark passes 100

    Wyndham Hotels & Resorts announced that its Trademark Collection by Wyndham had reached 100 hotels with its latest signings. The market for soft brands has continued to grow, with Hilton due to launch another, with the name LXR. Trademark, which is aimed at the upper midscale and above, was launched 18 months ago, when Chip [...]

    Emaar sells five hotels

    Emaar Properties has sold five Dubai hotels to Abu Dhabi National Hotels, with the group to retain the sites under management agreements. The transaction was part of an asset disposal programme, with the group thought to be planning to sell around USD1.4bn in assets, including USD700m in hotels. The five hotels will be managed under the [...]