Issue 30: 12th August 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 [...]