Issue 13: 11th April 2018

    FdR lines up for Principal

    Foncière des Régions has confirmed that it is exclusive talks with Starwood Capital to buy Principal Hotels for an undisclosed fee. The transaction latest in a series of anticipated portfolio deals in the UK, despite slowing performance growth. FdR said that the deal could be finalised by the end of the first half. The investor, [...]

    MPs call for sharing registration

    The All Party Parliamentary Group on Tourism recommended that all visitor accommodation, including that in the sharing economy, face statutory registration. In an interim report, the group of MPs said that growth of platforms such as Airbnb “must not be at the expense of consumer safety”. The group first called for submissions on the sharing [...]

    Tel Aviv hotels get government grants

    Israel’s government has extended its programme offering grants to convert office buildings or residential properties to hotels to Tel Aviv. The news came as a number of new hotels were announced in the city, which has built a reputation as a technology hub. The city was not previously seen as a priority for development grants, [...]

    Shearings hears the Country music

    Shearings Leisure Group has announced plans to reflag two of its hotels under the Country Living brand, after signing a deal with publisher Hearst UK. The hotels, currently under part of Shearings’ Coast & Country Hotels, will continue to be operated by the group, which will also pay for the refurbishments. The new partnership will [...]

    Hilton joins commission cull

    Hilton Worldwide has joined Marriott International in cutting group commission rate, from 10% to 7%, citing the growing cost of distribution. The two companies have both been pursuing direct booking strategies which have bolstered their loyalty programmes, in addition to adding to their brand stables, as they compete with the third-party distributors. Hilton Worldwide said: [...]

    TUI buys back destinations business

    TUI has acquired Hotelbeds’ destination management business in a deal giving it an enterprise value of EUR110m. The deal saw Hotelbeds, which TUI sold in 2016 for EUR1.2bn, become a pure bedbank business, while TUI moved deeper into services and leisure activities. TUI said that, following the acquisition, the Spanish subsidiary TUI Destination Services would [...]