As the hospitality industry continues to evolve and adapt, it's crucial for professionals to stay ahead of the curve. Today, we are thrilled to announce the launch of our brand-new website, HotelFinancialCoach.com, designed to empower hospitality professionals like you with the information, leadership skills and knowledge needed to achieve financial excellence in the industry.
Accor, a global hospitality leader, is set to rejoin the CAC 40, the benchmark index of the Paris stock exchange. The decision, effective from March 15, 2024, was made by Euronext Paris's Expert Indices Committee following the quarterly review of the CAC 40 index. This milestone marks another significant achievement for Accor, which is already a member of the CAC 40 ESG index, recognizing companies for their exemplary environmental, social, and governance practices.
The Future Hospitality Summit (FHS), the region’s most influential hospitality and tourism investment event - now transformed and titled ‘FHS World ’ and double in size - returns to Dubai this September.
Choice Hotels International, Inc. (NYSE: CHH) ("Choice") urges the stockholders of Wyndham Hotels & Resorts, Inc. (NYSE: WH) ("Wyndham") to tender their shares into the exchange offer ahead of its expiration at 5:00 p.m. ET on Friday, March 8, 2024. Tendering shares will send a clear message to Wyndham's board of directors to constructively engage with Choice to reach a consensual agreement on the terms of a transaction. Depending on participation, Choice intends to either extend or terminate the exchange offer and will evaluate next steps related to its nomination of a slate of independent directors for election to the board of directors of Wyndham.
Opening of Tokyo’s Toyosu Senkyaku Banrai Commercial Complex, Resorts World One to be the First to Homeport in Jakarta, Indonesia, Thailand Approves THB104.9 Million Budget for 2024 Songkran Festival Celebrations, Batik Air Launches New Route Between Batam and Kuala Lumpur, State Railway of Thailand to Develop Three New Rail Routes.
CapitaLand Investment Limited (CLI) has established its new lodging private fund, CapitaLand Ascott Residence Asia Fund II (CLARA II). With a target equity size of US$600 million (S$800 million[1]), CLARA II will invest in serviced residences and coliving properties in gateway cities in key developed Asia Pacific markets.
Hospitality Financial and Technology Professionals (HFTP®) announced the HITEC Investment Conference (HITEC-IC), a new event designed to connect hospitality technology company executives with the investment community. Scheduled for June 27–28, the conference will be co-located with the 2024 Hospitality Industry Technology Exposition and Conference (HITEC®) where 325+ companies, from start-ups to established global brands, will present the latest innovative technology solutions to the hospitality industry. As the singular location for global hospitality technology and longest-running show of its kind, HITEC is considered imperative to the participating companies. It is the largest gathering of hospitality technology companies and is attended by representatives of a majority of the top 40 hotel brands in the world. Pairing HITEC-IC with this key industry event presents a unique opportunity to activate hospitality technology investments returning massive rewards for the entire industry.
PGIM Real Estate to Acquire The Sheung Wan Hotel By Ovolo For HKD320 Million, Visa-Free Travel for Singapore and China Ordinary Passport Holders, Vietnam’s Pearl Island Uplifts with New Attractions and Experiences, Cambodia’s APSARA National Authority Has Added a New Bicycle Bridge In The Angkor Area.
Mercadona acquires AC Aravaca hotel in Madrid from Antonio Catalan, Extendam and Engage Hospitality acquire Ibis Styles Zaragoza Ramiro I in Spain, IMAXXAM acquires B&B Hotel in Frankfurt from A.A.A.
Aimbridge Hospitality, a leading, global hospitality management company and the world’s largest third-party hotel operator, closed 2023 with a strong mix of deals, new market entries, and property reopenings in its global portfolio, continuing to fuel growth and build momentum going into 2024.
Ahead of FITUR, UN Tourism – the new name for the World Tourism Organization (UNWTO) released its latest data. The first World Tourism Barometer of the year highlighted the sector's recovery, with international arrivals back to 88% of pre-pandemic levels at the end of 2023. With full recovery expected in 2024, UN Tourism again served as the bridge between public and private sector leaders to build a more resilient and sustainable future.
Meliá Hotels International, the leading hotel chain in Spain, has announced a strong push for its international expansion, as revealed today at Fitur - the Madrid Tourism Fair - by its President and CEO, Gabriel Escarrer. He stated, 'The future of our company involves becoming larger and better managers, which means adding a minimum of one hotel every two weeks. This growth will be highly qualitative, focusing particularly on the luxury and premium segments, in partnership with the industry's best partners and consolidating our leadership in the resort sector in the Caribbean, Southeast Asia, and the Mediterranean.
Hotel owner, operator, and developer Hotel Equities (“HE”) has formed a strategic partnership with private equity firm PPC Enterprises (“PPC”). The partnership looks to invest in future M&A, Strategic Alliances (SAAs), JV opportunities and acquisitions.
Atom acquires Hotel Miramar and Gran Hotel La Florida in Barcelona, Fattal enters French market with Hotel Prélude Opéra Paris acquisition, Extendam and SOHOMA acquire Citadines City Centre in Lille, France, Hotusa acquires Hotel San Anton in Granada, Spain, Deventure acquires New Bath Hotel and Spa in Matlock, UK.
Marina Bay Sands to Inject USD750 Million for Its Second Phase of Hotel Transformation, Cross Hotels & Resorts to Launch Cross Vibe Brand in Indonesia, Qantas Launches Darwin-Singapore Flight Service, China Has Further Relaxed Visa Rules for International Travelers, 308-key lyf Bugis Singapore Set To Open in Mid-2024.
In an effort to help create opportunity for people looking to realize the dream of owning or growing their own business, Hilton has announced the creation of “Unlocking Doors,” a program designed to support new and aspiring hoteliers on their journey to hotel ownership.
Hilton (NYSE: HLT) ended 2023 with the strongest development quarter in its history, opening more new rooms than during any other quarter. The hospitality leader opened 132 hotels and approximately 24,000 rooms between October and December 2023, contributing to full-year openings of 395 hotels and approximately 63,000 rooms to achieve net unit growth of 4.9%.
At the Americas Lodging Investment Summit (ALIS), Marriott International, Inc. (NYSE: MAR) announced the company’s record year of global signings with 52 percent more organic rooms signed in 2023 than in 2022, as it continues to expand offerings for owners, franchisees, and guests. The company also announced that it achieved strong net rooms growth of 4.7 percent in 2023.
Japan Hotel REIT Acquires 170-key Hotel JAL City Kannai Yokohama For JPY4 Billion, 82-key Shanghai Bulgari Hotel Sold For RMB2.4 Billion, Shanghai’s 193-key Wanda Reign on the Bund Hotel Acquired.
Glion Institute of Higher Education proudly announces the successful culmination of "The Glion Alumni Association Accelerator”, a ground-breaking start-up competition and pitch battle that has played a pivotal role in nurturing creativity and entrepreneurship within its esteemed student and alumni community. This unique initiative created a vibrant forum where aspiring entrepreneurs presented their innovative ideas while receiving invaluable mentorship from seasoned industry professionals. As the event unfolded, participants seized the opportunity to showcase their concepts, fostering exposure, networking, and potential financial support for their initiatives.