HA Perspective 2019

    Marriott’s Elegant move

    Marriott International has made a USD100.8m offer for Elegant Hotels Group, giving the Barbados-based group an enterprise value of USD199.0m. The deal was the latest in a series by Marriott International to strengthen its resort offering, as it looked to the needs of its loyalty programme members. Prior to news of the offer, Elegant had [...]

    Whitbread suffers ‘subdued’ market

    Whitbread said that short-term trading conditions had been “difficult” in the UK regions, with uncertainty affecting business travel. The company described next year as a “transformational” one for its growth in Germany, with 13 hotels due to open, as it looked to the country to support growth. The group said that it would extend the [...]

    IHG hit by trade wars

    InterContinental Hotels Group reported a 0.8% fall in group revpar in the third quarter, pulled down by tougher trading conditions in the US and China, and ongoing unrest in Hong Kong. The company said that it expected its global spread to protect it from any major impact, while its loyalty programme would provide a cushion. [...]

    Institutions eye co-living

    DTZ Investors and co-living platform The Collective have launched a fund looking to raise GBP650m to invest in the sector. Global funding in the co-living space has increased by more than 210% annually since 2015, totalling more than USD3.2bn, according to JLL The new fund – COLIV – will seek to acquire, or forward-fund, between [...]

    Huazhu gushes over pipeline

    Huazhu used its third-quarter results to report that its pipeline had reached a historical high, of 1,736 hotels. The pipeline was dominated by midscale and upscale hotels, after the group strengthened its development team and launched additional soft brands. During the third quarter, Huazhu added 548 hotels, with 62 exiting the system for what the [...]

    Cogress backs Selina

    Cogress is to invest GBP80m in hospitality group Selina. An initial portfolio of six hotels will be backed, in Portugal and the UK. Selina currently has 128 properties in 19 countries, and in the UK is converting the YMCA in Liverpool into its hotel format. Cogress CEO Tal Orly said: “This is the biggest commitment [...]

    Legislation catching up with sharing

    The UNWTO has released a study of the global legislative response to peer-to-peer lodging. The study was published as Booking.com said that, that on average, seven guests per second were checking into a home, apartment or unique place to stay. The UNWTO drew on 21 global case studies and noted that most of the measures [...]

    UNWTO drives sustainable tourism

    The UNWTO is to work with the European Bank for Reconstruction and Development to drive sustainable and inclusive tourism. The agreement was announced as a report commissioned by the Committee on Climate Change recommended scrapping air miles schemes, claiming that they encouraged excessive flying. At the UNWTO, the two institutions said that they would strengthen [...]

    Accor narrows earnings target

    Accor narrowed its FY Ebitda range at the top end, from Eur820m to Eur850m to between Eur820m and Eur840m, citing the China trade war. The group remained confident, with CFO Jean-Jacques Morin telling analysts: “We’ve been tested for the first time and the performance shows the strength of the asset-light model”. Morin added: “The fee [...]

    Best Western adds extended stay

    Best Western Hotels & Resorts has launched its first extended-stay brand, SureStay Studio, aimed at the upper end of the segment, targeting both conversions and new builds. Best Western’s launch came alongside a new brand from Hyatt, looking at the select-service customer. Best Western’s president & CEO, David Kong, said: “SureStay Studio solidifies BWHR as [...]