HA Perspective 2017

    Easyhotel’s super-budget growth

    EasyHotel told us that it had seen a “slight slackening” outside London, but that it continued to outperform the market. The company is now looking to raise further development finance, after reporting that it only had enough funding left for one additional owned hotel. CEO Guy Parsons said: “The group’s asset-backed balance sheet remains strong [...]

    CDL ups M&C bid

    City Developments increased its offer for the 34.8% of Millennium & Copthorne it does not own, from 545p per share to 620p, valuing the group at GBP2.01bn. The offer was rejected by a group of shareholders, causing CDL to warn that they faced “significant capital expenditure” to improve trading at the estate. International Value Advisers, [...]

    Airbnb linked to Wyndham buy

    Airbnb has been linked to the holiday operations of Wyndham Worldwide, including James Villas and Hoseasons. It is thought that the platform could pay USD1bn for the businesses, as it continues to flesh out its offering ahead of an expected IPO next year. First-round bids for the package were due last month. Steve Holmes, Wyndham [...]

    Expedia and G6 sign loyalty deal

    G6 Hospitality has become the latest group to sign a deal with Expedia, Inc, which will see the OTA sign users up to G6’s loyalty programme, giving them access to lower rates. The move follows last year’s agreement with Red Lion, which the OTA said would see it work more closely with hotels on their [...]

    Whitbread breakup calls gain pace

    Shares in Whitbread rose by over 7% on the news that US-based Sachem Head Capital Management now held a 3.4% stake in the group. The spike fuelled ongoing speculation that the company would be broken up, with Barclays commenting that a likely outcome would be the sale of Costa Coffee and as sale and leaseback [...]

    Internos sticks to Principal

    PGI, the asset management arm of Principal Financial Group, has expanded into Europe with the acquisition of Internos Global Investors, for an undisclosed fee. Internos said that it would continue to focus on the leased market, commenting to us that, despite the preference on the part of the US-listed operators for franchises and management contracts, [...]

    Elegant knock-back to Meliá

    Elegant Hotels confirmed that it had terminated possible takeover talks with Meliá Hotels International. The news came as both Meliá and its domestic rival, NH Hoteles Group, reaffirmed their commitment to expanding outside Spain. Elegant said that it had received an approach from Meliá for a possible cash offer and that the Spanish Group did [...]

    Apex eyes growth despite UK pressure

    Apex Hotels is to announce a series of refurbishments, in addition to continuing to pursue growth by expansion and acquisition. The results came as Hotstats reported that UK hotels saw gains in revenue “almost entirely wiped out by increasing costs” in October. At Apex Hotels, the company said that it had benefitted from adding 134 [...]

    IHG signs with Samhi in India

    InterContinental Hotels Group will increase its current system size in India by 34% after rebranding 2,000 hotels under the Holiday Inn Express flag. The hotels will be flagged under management contracts, as observers point to a maturing, rising market which is expected to lead to an increase in franchising from the global operators. The hotels [...]

    Best Western grows on uncertainty

    Best Western Great Britain said that market uncertainty caused by Brexit had helped it post a record year for number of hotel applications and activations. The membership organisation reported a 110% increase in hotels joining, as the popularity of consortia grows. Les Asplen, managing director, Best Western Great Britain, said: “The last 12 months have [...]