HA Perspective 2019

    Marriott sees growth slow

    Marriott International said that opening delays in North America and the Middle East would mean that room openings were more “modest” than earlier guidance. The company was confident in its global performance, with revpar growth in China ahead of its rivals, as well as an increase in outbound guests from the region. The group said [...]

    IHG leans on Holiday Inn

    InterContinental Hotels Group said that it expected to see unit growth accelerate into next year, despite concerns over performance. The company continued to lean on the Holiday Inn brand family, but said that it was starting to see an increase in signings from its new and acquired flags. The group reported 5.7% net system growth [...]

    Not so Easy takeover

    EasyHotel shareholder Icamap has joined forces with Ivanhoé Cambridge to bid for the outstanding shares in EasyHotel, in a deal giving the group an enterprise value of GBP126.1m. The pair said that the company needed “significant investment” to fulfil its potential, but have come up against opposition from the EasyGroup founder, who described the offer [...]

    ‘Challenging’ US hits Hyatt, Park

    Hyatt Hotels Corporation and Park Hotels & Resorts both reported a drop in revpar as a result of performance in the US. Hyatt also bore the impact of the trade war between China and the US, but saw accelerated expansion as a result of its expanded brand stable. Mark Hoplamazian, Hyatt president & CEO, told [...]

    Management ‘crucial’ for Mandarin Oriental

    Mandarin Oriental said that expansion through management contracts was “crucial” to maintaining expansion targets of three to four new properties per year. Group CEO James Riley said that the company had seen profits for the half-year period “substantially lower” as a results of closures and renovations, but remained confident of the group’s long-term prospects. Mandarin [...]

    Laterooms’ owner folds

    Malvern Travel Technology, which owns the Laterooms and Superbreak brands, has gone into administration. The company was unable to find a buyer after shareholder Cox & Kings defaulted on loans, calling the future of its other brands into question. Tracey Pye, joint administrator, KPMG, said: “The directors of Malvern Group embarked upon an accelerated sales [...]

    Accor sees New Businesses strengthen

    Accor said that it expected to see its New Businesses division breakeven in the fourth-quarter after a restructuring. The company added that it would consider further M&A after the disposal of real estate at Orbis, which was valued at EUR1.8bn at the end of last year. Jean-Jacques Morin, Accor’s deputy CEO & CFO, told analysts: [...]

    Hilton looks to mid-market

    Hilton said that it saw the mid-market as “the greatest development opportunity”, driven by the emerging middle classes. The comments were made as the group reported its second-quarter results, increasing its Ebitda guidance despite softening international revpar growth. Hilton reported a 1.4% drop in system-wide revpar in the second quarter, as market share gains offset [...]

    Expedia pulling up to platform

    Expedia said that it was increasing cross-selling between its brands and moving towards becoming “the world’s travel platform”. The OTA said that it continued to see alternative accommodation as “an attractive long-term growth opportunity”, as it expanded the newly-renamed Vrbo. Mark Okerstrom, president & CEO, told analysts: “While we’re still early in our journey as [...]

    NH’s Minor merger

    NH Hotel Group reported a series of strategic moves alongside owner Minor International, as the two worked more closely together. The company reported “strong performance” in the first half the year, driven its domestic market. A number of agreements were announced during the second quarter of the year under which NH Hotel Group will operate [...]