The biggest challenges affecting hotels through this period of high inflation relate to the cost of labour, rising energy prices, coping with supply chain issues, the cost of debt and uncertainty that makes budgeting for the year ahead almost impossible.
Fortimo Group acquires the Grand Hotel Regina in Grindelwald, Switzerland, Kula and Gold Tree acquire future hotel sites in Dublin and Lisbon, EXTENDAM acquires the Little Palace Hotel in Paris, The Clearys acquire the Temple Bar Lane Hotel in Dublin from MM Capital, Langham Hall purchased by next door luxury hotel The Harper in Norfolk, UK.
Capital Alliance and TFE Hotels has Announced to Build a AUD340 Million Mixed-use Development in Melbourne Docklands, Steadfast Capital to Develop Dual Hotel at Bourke Street Mall, Melbourne, Weave Living Acquired Two Hotel Properties in Hong Kong for HKD3.2 Billion, Pollux Properties to Acquire Three Hotels in Indonesia for IDR217 billion.
Choice Hotels International, Inc. (NYSE: CHH),--one of the world's largest lodging franchisors, is building on its longstanding commitment to increasing owner profitability with a free resource for its hotel owners: Your Key to Profit. Launching in the fourth quarter of 2022, the new platform will centralize all Choice's proprietary profitability tools in an on-demand, mobile-friendly system to better enable success for owners' hotels.
Watermark Lodging Trust, Inc. (“Watermark,” “WLT” or the “Company”) today announced that, at a Special Meeting of Stockholders, the proposed acquisition of WLT by private real estate funds managed by Brookfield was approved by its stockholders. Under the terms of the previously announced merger transaction, WLT common stockholders will receive cash consideration of $6.768 per Class A share and $6.699 per Class T share.
Grand Hyatt Seoul Acquired by Blue Cove Asset Management for KRW1 Trillion, Crystalbrook has Acquired Rydges Sydney Harbour Hotel for AUD100 Million, R&F Properties has sold Wanda Realm Beijing for RMB550 Million, Mantra Quayside Port Macquarie sold for Approximately AUD10 Million.
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Saudi Arabia’s PIF and Cain invest $900 million into Aman Group, L+R sells the Trafalgar St. James Hotel in central London to Crimson Hotels, Berlin’s HR Group acquires the operations of 23 Amedia Hotels across Europe, Whitbread acquires central London freehold site for a hub by Premier Inn hotel, Patrizia acquires two Student Hotels in Barcelona from The Student Hotel, Edyn acquires NH Kensington Hotel in London to transform into a Locke aparthotel, BAE Systems forward sells the Holiday Inn & ibis Budget hotels at Manchester Airport , The Fontecruz Lisboa Hotel in central Lisbon acquired by Carlos Camurdine, LHI sells two NH Hotels in the Netherlands to Bulten Vastgoed and Van der Valk family.
Thakral Corporation has sold Hotel WBF Namba Motomachi, Central Pattana has Announced the Progress of the Development of Central Korat, Tokyo to Resume Travel Subsidy Campaign, Pan Pacific Collaborated with Tokyu Hotels to Launch Two New Hotels in Tokyo.
The distinction between fixed and variable costs has blurred over time as technology, labor market conditions, and guest preferences have evolved. These trends have been exacerbated by changes in occupancy patterns post COVID. Hotel owners and operators need to understand how these changes affect strategies for maximizing profitability.
As the South African and broader African hospitality market continues to recover post-Covid-19; investment and development activity is set to ramp up as the sector evolves post its biggest ever crisis, comments notes industry expert Wayne Troughton, the CEO of HTI Consulting.
Aman Group has Secured USD900 million to Accelerate the Global Expansion, Ascott Proposed to Acquire 9 Property Assets in 5 Key Markets, Old Supermarket to be Redeveloped as Shoptop Hotel Development, Singapore’s Park Hotel Alexandra to be Rebranded as Momentus Hotel Alexandra.
The managing principals of Peachtree Hotel Group announced today that they have formed Peachtree Group ("Peachtree"). This new company will manage and control its multi-billion-dollar investment portfolio and direct investment strategies across its distinct operating and real estate divisions, including hospitality, commercial lending, residential development and capital markets.
COIMA sells Hotel Excelsior in Venice to London & Regional, Azora purchases the Sheraton Rhodes Resort in Greece from Lampsa, PERIAL acquires the Almar Jesolo Resort & Spa near Venice, Pandox agrees to acquire Hotel NH Brussels Louise from NH, MHRE acquires building on Madrid’s Golden Mile for five-star hotel conversion, Union forward buys 25hours Hotel Copenhagen Paper Island from Danish developers, The Central House acquires Spanish chain Rodamón Hostels, SORAVIA and Eckhard Brockhoff acquire Hotel Bredeney in Germany, Hotel Florhof in Zurich acquired by private investors Silvio Denz and Peter Spuhler.
Development Consortium Led by Alibaba and Perennial Holdings are to Redevelop the AXA Tower in Singapore, Yanlord Land Obtains Approval to Redevelop CBD Office Tower into a Mixed-Use Project, Ascott acquires Lyf-branded Co-living Property in Tokyo, Thailand Government Approved to Grant THB5 Billion Soft Loans to Hotel Operators.
"Efforts to collect occupancy taxes on Airbnb lodging listings, designed by public policy makers to regulate the homesharing market, have put individual hosts at a distinct disadvantage compared to commercial listings, rather than leveling the playing field as intended, Yao Cui's and Andrew Davis' new research shows."
Mandarin Oriental International Sales Washington D.C. Hotel for USD139 Million, High Street Holding Purchases Peppers King Square hotel for AUD26 Million, Dash Living Acquires Japan Accommodation Operator IntheHood Hospitality by a Share-Swap, CapitaLand Integrated Commercial Trust to Revamp CQ @ Clark Quay for SGD62 Million.
Hospitality Financial and Technology Professionals (HFTP®) has been associated with the Uniform System of Accounts for the Lodging Industry (USALI) since the association was established in 1952. In recent editions, HFTP has provided expertise support and funding for its publication without reimbursement. Widely used across the globe as the standard for hospitality financial and operational reporting, the successive revisions to the USALI have consistently been a collaborative process between representative industry organizations, ensuring the information presented best represents current reporting standards and industry practices.
Hospitality Financial and Technology Professionals (HFTP®) is pleased to support the upcoming International Council on Hotel, Restaurant, and Institutional Education (ICHRIE) Annual Summer Conference as its 75th Anniversary sponsor. The established event offers varied programming, including educational presentations on research and other academic-focused sessions, association business meetings, networking events and concluding with a Celebration Dinner and Gala. As part of its participation at the conference, HFTP will provide updates in multiple education sessions. The event will take place August 3–6 at the Renaissance Washington, D.C. Downtown Hotel in Washington, D.C. USA.
Commercial real estate debt is gaining a firmer foothold in investors’ strategies as they look to diversify.