Issue 32: 9th September 2019

    Meininger mooted for sale

    Cox & Kings is reported to be working with Lazard on a possible sale of Meininger, to help reduce the parent group’s debt. The hybrid budget brand has been on a self-described “rapid expansion spree”, targeting Europe as the sector continues to attract investors. Meininger currently has 28 hotels in operation, with a pipeline of [...]

    Dalata to hold assets

    Dalata Hotel Group told us that it had no plans to dispose of its assets, now valued at more than Eur1.3bn. The company reported first-half figures which saw the group continue to build its pipeline, supported by institutional investors in the UK, despite concerns over performance in Dublin. Dermot Crowley, deputy CEO, business development & [...]

    Third parties to merge

    Aimbridge Hospitality and Interstate Hotels & Resorts are to merge, creating a group managing more than 1,400 branded hotels across 20 countries. The deal came as third-party management companies continued to grow in popularity in Europe. The terms of the agreement were not revealed, with rumours over the summer suggesting a figure around USD1bn. Private [...]

    Hotel deals up, while profits fall

    Hotel investment increased by 5.3% on the year to the second quarter in Europe, while total commercial real estate investment fell by 7.8%, according to CBRE. The growth came despite falling profits at mainland European hotels, as costs outpaced revenue. CBRE reported that hotel investment reached Eur24.3bn for the period, led by the UK, where [...]

    Politics pulls down Asia hotels

    Hongkong and Shanghai Hotels reported a “challenging” first half as a result of the trade war between the US and China, uncertainty over Brexit and the Gilet Jaunes protests in France. The results came as Dusit Thani reported a fall in Ebitda, pulled down in part by the strong domestic currency, warning that full-year revenue [...]

    Travelport deepens use of blockchain

    Travelport is developing a blockchain solution to streamline hotel commission reconciliations, working with IBM and travel management company BCD. Last year saw Travelport announced that it was working with IBM “to streamline the hotel ecosystem” in a move it hoped would mean lower costs and expanded supply. The trio said that Travelport would use IBM’s [...]