IHCL to Acquire Controlling Stake in Brij Hotels; Strengthens Leadership in India’s Leisure Tourism
IHCL acquires 51% of Brij Hospitality for ₹undisclosed amount, adding 22 boutique properties to reach 610 total hotels.
Press Releases
IHG Unveils Strategic Overhaul of its Upper-Midscale segment in Greater China’s Hotel Market
IHG Hotels & Resorts has recently announced a bold strategic overhaul of its four upper-midscale brands in Greater China — Atwell Suites, EVEN Hotels, Holiday Inn, and Holiday Inn Express. Focused on optimizing investment structures and ongoing brand refreshments, the upgraded strategy is designed to deliver high-efficiency, high-return solutions for hotel owners in this fast-evolving market.
APAC Hotels & Hospitality Market Update: Japan
Despite being one of the last markets to fully re-open its borders to visitors following the end of the COVID-19 pandemic, the large number of foreign visitors and durable domestic demand have seen Average Daily Rates (ADRs) across all cities and categories increase significantly. STR data show aggregate daily rates reached JPY 18,403 as of February 2024 y-t-d, 35% higher than the same period of 2019.
CapitaLand Ascott Trust divests three hotels in Japan for JPY10.7 billion
CapitaLand Ascott Trust (CLAS) is divesting three hotels in Osaka, Japan to an unrelated third party for a total of JPY10.7 billion (S$99.8 million[1]). The three properties are Hotel WBF Honmachi, Hotel WBF Kitasemba East and Hotel WBF Kitasemba West.
CapitaLand Ascott Trust divests two hotels in Australia for AUD109.0 million
CapitaLand Ascott Trust (CLAS) is divesting two mature hotels in Sydney, Australia to an unrelated third party for a total of AUD109.0 million (S$95.6 million[1]). Situated outside of the city centre, the two properties are Courtyard by Marriott Sydney-North Ryde and Novotel Sydney Paramatta.
The debt metric on real estate’s radar
As global volatility puts the debt exposures of real estate companies under sharp focus, lenders are paying greater attention to a metric that helps determine their ability to service loan facilities.
Accor continues to simplify its balance sheet by selling its residual stake in H World Group Limited (Huazhu)
Accor announces that it has completed the sale of its residual stake in H World Group Limited (formerly known as Huazhu Group Limited) for $460 million. This transaction finalizes the value creation of the investment initiated in 2016. The cumulative disposal value since 2019 has reached $1.2 billion, compared to an initial investment of less than $200 million. This contributes to the “asset-light” strategy of simplifying the Group's balance sheet. Following this transaction, Accor no longer holds any shares in the capital of H World Group Limited.
Return of travel bolsters Singapore
The easing of Covid travel restrictions has meant growth for Singapore’s hotel market, with investors also showing increasing interest.
India’s budget deficit to narrow down to 5.3% of GDP in FY22, forecasts GlobalData
The upcoming Union Budget of India (2022-23) is expected to focus on bringing in economic reforms to ease supply-side bottlenecks, provide production-linked incentive (PLI) schemes to domestic MSME’s* sector, asset monetization and privatization. Along with this, the government needs to strike a balance between fiscal expenditure and fiscal consolidation. Against this backdrop, GlobalData, a leading data and analytics company, expects the budget deficit to narrow down to 5.3% of GDP in 2022 compared to 5.6% in 2021.
Tokyo 2020 Tourism Legacy Could Create Some Positive Impacts, Says GlobalData
Many will perceive Tokyo 2020’s tourism legacy to be overwhelmingly negative, due to it taking place during a pandemic and the side-effects that have come with that. However, some positives can still be drawn when looking to the future of Japanese tourism, says GlobalData, a leading data and analytics company.
Ascott Residence Trust Acquires Three Rental Housing Properties In Japan For JPY 6.78 Billion
Ascott Residence Trust (ART) has entered into agreements to acquire three freehold rental housing properties in central Sapporo for a total of JPY 6.78 billion (S$85.2 million[1]) to expand its rental housing portfolio in Japan. The three rental housing properties – City Court Kita 1 jo, Big Palace Minami 5 jo, and Alpha Square Kita 15 jo[2] – are from unrelated third parties. The average EBITDA yield of the three acquisitions is approximately 4%. The transactions are expected to complete by end June 2021. The acquisition of the three rental housing properties will be funded by debt and part of the net proceeds from recent divestments.
Snow Lake Capital Sends Letter to MGM Resorts’ Board of Directors
Snow Lake Capital Limited, a leading Asian alternative investment management firm with over US$3 billion in assets under management, today sent a letter to the MGM Resorts International (NYSE: MGM) ("MGM" or the "Company") Board of Directors urging them to sell 20% of their MGM China Holdings Limited (HKEX: 2282 HK) ("MGM China") business to a Chinese company as a strategic investor.
From Fintech to Hospitality: A Look at Singapore’s Innovation Labs
They vary in their method of funding, time span horizon, level of formality and freedom versus employer ties. Some address market gaps or seek to solve tangible problems, creating new revenue streams or bolstering existing ones with improved productivity or speed, while others test prototypes, incubate outlandish startups or provide an environment in which customers can become better acquainted with cutting-edge technologies.
Emaar launches business development operations in China
Emaar, the developer of the iconic Burj Khalifa and the upcoming Dubai Creek Tower, has commenced business development operations in China. This follows the announcement in July of the company's expansion to the country, coinciding with the coinciding with the historic visit of President Xi Jinping of China to the UAE.Emaar has a team of dedicated business development professionals in the country, specially recruited from China, and has started the design and fit-out of two premium offices in CBD of Beijing and Shanghai. In addition to promoting the UAE and Dubai as a high-growth investment destination, the two Emaar showrooms will showcase the flagship and ongoing premium lifestyle, shopping and hospitality developments in Dubai, like The Dubai Mall and Address Hotels as well as touristic destinations such as Burj Khalifa and Dubai Aquarium & Underwater Zoo.The diverse international educational opportunities such as New York University and Sorbonne University Abu Dhabi - a keen requirement by Chinese investors in property - as well as the healthcare amenities that are available close to Emaar's communities are highlighted at the state-of-the-art showrooms.Emaar aims to work with the UAE embassy in China to promote the nation's appeal to Chinese investors, with guidance from HE Ali Obaid Al Daheri, UAE Ambassador to China, who has been actively promoting UAE-China ties, by fostering trade relations and tourism, as well as highlighting the UAE's appeal as an investment hub.Emaar is also expanding its premium luxury hotel and serviced residences brand, Address Hotels + Resorts, to China. Address branded hotels will open in key cities in the country, building on the familiarity that the brand enjoys among Chinese tourists. Today, Emaar's hotels are among the most-preferred by Chinese visitors, given their central location and access to lifestyle destinations such as The Dubai Mall.Emaar's expansion to China complements the 'Belt and Road Initiative' announced by President Xi Jinping, in which the UAE will have a significant part to play. Chinese visitors can enjoy visa-on-arrival and have effortless connectivity with the city with Emirates operating to the key cities in China.
RedDoorz raises pre-Series B round of US$11 million as part of growth in Southeast Asia
RedDoorz, Southeast Asia's leading online budget hotel booking chain with a presence in Indonesia, Singapore and The Philippines, announces its successful fundraise of US$11 million. Headquartered in Singapore, the pre-Series B round comes as an additional investment from Asia Investment Fund of Sushquehanna International Group, International Finance Corporation (private investment arm of World Bank Group), InnoVen Capital, Jungle Ventures, who have invested in past rounds – along with new investors DeepSky Capital, FengHe Group and Hendale Capital and other investors.
Sokha Siem Reap Prepares for Grand Opening
Siem Reap Province, 01 March 2017– Sokha Hotels & Resorts, Cambodia's leading hospitality company, today announced that the final hotel building Bayon block with 328 rooms with a restaurant and a lobby lounge within Sokha Siem Reap Resort & Convention Center complex has been completed and ready for grand opening in Q4 2017.
Wanda Hotels and Resorts takes the first step in 'Asset-Light' strategic transformation.
Wanda Hotels and Resorts and Baicheng Real Estate Group signed a formal agreement on the entrusted management project of Wanda Realm Wuzhishan, which marks the first step for Wanda Hotels and Resorts in its 'asset-light' strategic transformation.
Hospitality Financial and Technology Professionals Partners with China Hospitality Technology Alliance
With great excitement, USA-headquartered Hospitality Financial and Technology Professionals (HFTP®) has announced an extended partnership with the China Hospitality Technology Alliance(CHTA) for the purpose of furthering each association's resources used to educate and certify hospitality technology professionals. The partnership between HFTP and CHTA is the latest step in HFTP's long-term plan to fully expand across the globe.
Marriott International Welcomes Chinese Travelers with Alipay
Marriott International and Ant Financial Services Group, an independent financial group and an ecosystem partner of Alibaba Group, announced today an agreement to roll out Alipay, an innovative payment option, to hotels and resorts under Marriott International's brands. With this agreement, guests at select Marriott International hotels will be given the option to pay for their hotel stays, food and beverage purchases as well as for meeting and event bookings using Alipay on their smartphones. The agreement represents another step in Marriott's creation of a complete mobile-powered travel experience that is effortless, seamless and more rewarding for its guests. Working with China's largest e-payments provider, Marriott International will initially activate Alipay at 10 hotels in greater China, gradually expanding to other hotels in China and across Asia by mid-2016. To better serve China visitors traveling abroad, Marriott also expects to introduce Alipay to properties in key markets outside Asia by the end of 2016.
Homeinns Special Committee Appoints Financial Advisor and Legal Counsel
Homeinns Hotel Group ("Homeinns" or the "Company") (NASDAQ: HMIN), a leading economy hotel chain in China, today announced that its special committee of independent directors of the Company's Board of Directors (the "Special Committee") has selected Credit Suisse Securities (USA) LLC ("Credit Suisse") as its financial advisor and Simpson Thacher & Bartlett LLP ("STB") as its legal counsel.