Issue 40: 4th November 2019

    ‘Caution flags are out’ says Hilton

    Hilton CEO Chris Nassetta said that global political uncertainties meant that the ‘caution flags are out’, but that people were still travelling. The company said that it expected to see revpar growth flatten next year, but said that it anticipated maintaining its net unit growth. Chris Nassetta, Hilton president & CEO, told analysts: “Businesses don’t [...]

    Fullers expands rooms

    Fuller, Smith and Turner has announced plans to buy Cotswold Inns & Hotels for GBP40m, adding seven hotels to its estate. Earlier this year saw the pub group announce that it would focus on its hotels division after selling its beer business to Asahi for GBP250m. At the time of the Asahi deal said that [...]

    Serviced apartment growth outpacing hotels

    Serviced apartments and aparthotels were the fastest-growing segment of the UK’s hospitality accommodation market, according to Lambert Smith Hampton, with 13% of active pipeline. The growing enthusiasm for aparthotels came as Soho House raised USD100m to finance its expansion, as non-traditional accommodation continued to flourish. Soho House sold a 5% stake to a group of [...]

    Hostels pursue growth

    Safestay announced that it had acquired a hostel in Athens for EUR1.5m, taking it to 17 sites. Meininger also reported an addition to its portfolio, with its second property in the UK, as the hostel market continued to attract investors to serve ever-evolving guests. At Safestay, the group paid for an 18-year lease on the [...]

    Pandox builds diversification

    Pandox used its interim results to points to its increased diversification, after adding Novotel-branded hotels to its portfolio. The results came as Scandic continued to rationalise its estate, exiting two hotels in Finland as it looked to strengthen profitability. Pandox is to acquire two hotels in the Netherlands and Germany for Eur83m, with Grape Hospitality [...]

    Super 8 gets flexible

    Wyndham Hotels & Resorts has become the latest of the global operators to offer a shared room concept, under its Super 8 by Wyndham brand. The new room was released as the company reported its third-quarter results, which saw “softer-than-expected” revpar growth, as its estate grew by 3% on the year. The new Super 8 [...]