HA Perspective 2019

    Marriott launches new credit card loyalty push

    Marriott International has launched its latest credit card in the US; a no-annual-fee product offering those who hold it loyalty points. The new card came as the sector has been looking more closely at co-branded credit cards, with Accor describing the scope to “generate significant revenue” from such partnerships. At Marriott International, the company’s latest [...]

    Tsogo Sun grows after split

    Shares in Tsogo Sun Hotels pulled ahead of Tsogo Sun Gaming after Tsogo Sun Holdings was split along hotel and casino lines. The company said that it planned to expand through management contracts and new builds and would consider investing further in the UK, where it has a 26% share in management company RBH. Tsogo [...]

    OTAs see competition complaint

    Danish hotel booking platform Nustay has filed a complaint against Expedia and booking.com in the EU, alleging that they were restricting competition. Nustay said that the pair were imposing “serious commercial consequences” on hotels if they offered lower rates to competitor sites. The platform said in its complaint that pair were “effectively forcing wide [...]

    Accor to sell Orbis property

    Accor said that it was approaching potential buyers of its stake in Orbis, having taken its holding in the company to 85.84% in February. The news came as Orbis signed to a 20-year agreement to operate its first Ibis Styles in Croatia, with the property due to open in 2021. In Croatia, local partner Rijeka [...]

    Alpha continues ground rent spree

    Starwood Capital has agreed a GBP40m ground rent deal on its De Vere Beaumont hotel in Windsor with Alpha Real Capital. Alpha Real Capital now has around GBP400m of hotel ground rent assets under management, and has funded over GBP1bn-worth of hotels with ground rents. The hotel was the fund’s largest regional hotel transaction to [...]

    First Group plans Islamic bond

    Dubai-based The First Group was considering issuing USD135m in sukuk, or Islamic bonds. The company was developing a number of hotels in the emirate, focusing on the mid-market segment. The developer has appointed investment bank Shuaa Capital to arrange the transaction, with the company saying that it was “considering different financing structures in order to [...]

    BlackRock joins hostel trend

    BlackRock Real Assets has acquired a pan-European hostel portfolio as part of a EUR100m joint venture with Amistat International. The pair now plan to acquire hostels across the region, at a time when institutional investors have targeted the market. The off-market acquisition comprised a seed portfolio of three assets, with an active pipeline of another [...]

    Aparthotels target growth

    Aparthotels Adagio said that it was planning to double its portfolio by 2023 as it looked to global growth. The ambition was revealed as Australia’s Quest Apartment Hotels announced a target of up to 12 hotels in the UK within the next five years. At Aparthotels Adagio, the company said that it would have 116 [...]

    Institutional appetite grows

    Capital France Hotel, a vehicle managed by Schroders Real Estate Hotels, has acquired two hotels in Belgium from KKR’s Real Estate Partners Europe fund. The acquisition came less than a year after Schroders made a shift towards hotels with the purchase of Algonquin for an undisclosed fee. Capital France Hotel bought the Radisson Blu Astrid [...]

    Dakota goes for growth

    Dakota Hotels said that it was looking to a number of UK cities for new sites, after opening its fifth hotel, in Manchester. The company was working with property developer Evans Property Group as it targeted further luxury growth. The 137-room Manchester site was close to Piccadilly Train Station under the Dakota Deluxe brand, as [...]