Finance Press Releases - Hospitality Net

Advertisement

January 15, 2024

Wyndham Confirms Receipt of Expansive FTC Second Request Under HSR Act for Choice’s Unsolicited Hostile Offer to Acquire Wyndham

Wyndham Hotels & Resorts (NYSE: WH) (“Wyndham” or the “Company”), the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today confirmed receipt of a 40-page and 65-topic ‘Second Request’ from the Federal Trade Commission in connection with Choice Hotels International, Inc.’s (NYSE: CHH) (“Choice”) unsolicited proposed acquisition of Wyndham:

Wyndham and Choice

January 10, 2024

Europe Hotel Transactions Bulletin - Week Ending 05 January 2024

Archer acquires two Hoxton hotels in London from Norlake Hospitality, Statuto to acquire Mandarin Oriental Paris from MOHG, NH Hotel Group acquires five hotels in Portugal from Minor Hotels, Corum AM acquires two hotels in Warsaw, Poland, from Ghelamco, Silicius sells FERGUS Conil Park hotel in Cadiz, Spain, EPH acquires Hotel des Trois Couronnes in Vevey, Switzerland, Hunton Hotels acquires Holiday Inn Express Southampton, UK, from Brightbay, Atom sells AC Ciudad de Sevilla hotel in Spain, Dutco Group acquires the Mar Hall Resort in Scotland, Thon Property acquires Hotel Terminus Stockholm in Sweden.

January 8, 2024

Travelodge agrees to acquire 66 Travelodge-branded hotels from its largest landlord - LXi REIT

Travelodge, the UK’s first budget hotel brand which operates nearly 600 hotels, today announces that it has exchanged contracts to acquire 66 Travelodge-branded hotels on a freehold and long leasehold basis from its largest landlord, LXi REIT plc (“LXi”), for a combined sum of £210 million.

January 8, 2024

£2 billion of UK hotel transactions in 2023

£2 billion of UK hotel transactions were recorded in 2023, according to global property adviser Knight Frank. Q4 was the strongest quarter of the year for investment into the sector with £615 million of deals, representing 31% of the total annual investment activity.

January 4, 2024

The Year in Review - 2023 Most Read Stories on Hospitality Net

As we reflect back on the year 2023, we want to share the articles that resonated most with our readers on Hospitality Net throughout this past year. We've curated a list of the most engaging opinion articles on our website.

Hospitality Net

December 19, 2023

Wyndham Board Urges Shareholders to Reject Inadequate and Highly Conditional Choice Exchange Offer

Wyndham Hotels & Resorts (NYSE: WH) (“Wyndham” or the “Company”), today announced that its Board of Directors, following a comprehensive review with its outside financial and legal advisors, has unanimously determined the unsolicited exchange offer (the “Offer”) from Choice Hotels International, Inc. (NYSE: CHH) (“Choice”) to acquire all outstanding shares of Wyndham is NOT in the best interests of Wyndham and its shareholders. The Wyndham Board of Directors unanimously recommends that shareholders NOT tender any of their shares into the Offer.

Wyndham and Choice

December 19, 2023

Europe Hotel Transactions Bulletin - Week Ending 15 December 2023

Prodea to acquire a further 55% stake in MHV from Cypriot group Yoda, Eternam and QuinSpark acquire two hotels in Chamonix, France, Barceló Group acquires Hotel Felipe IV in Valladolid, Spain, MarSenses acquires Ferrera Beach Hotel Apartments in Mallorca, Spain.

The next-gen metrics that move hotel P&L

Hotel tech has changed what's possible – and measurable. RevPAR and ADR aren't enough; discover the metrics that really matter.

Ad Tambourine One

All you need is one.

Some call it a website with a booking engine built in. Some call it a booking engine with a website built in. We call it One.

December 18, 2023

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.

The Ascott Limited

December 13, 2023

Wyndham Confirms Receipt and Review of Unsolicited Exchange Offer from Choice

Wyndham Hotels & Resorts (NYSE: WH) (“Wyndham” or the “Company”), the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today confirmed that Choice Hotels International, Inc. (NYSE: CHH) (“Choice”), has commenced an unsolicited exchange offer to acquire all outstanding shares of Wyndham common stock. The offer proposed by Choice appears unchanged from the terms outlined in a letter to Wyndham dated November 14, 2023 and is currently valued at approximately $86 per share.

Wyndham and Choice

December 13, 2023

Europe Hotel Transactions Bulletin - Week Ending 08 December 2023

Cliste Hospitality and Warren Private JV acquire Radisson Blu Hotel in Belfast, Van der Valk acquires Radisson Blu Palace Hotel in Spa, Belgium, Hotel Alzinar Mar Suites in Mallorca acquired by Zafiro Group from EIX Hotels.

December 12, 2023

Hilton Marks a Decade of Growth Since Initial Public Offering

Hilton (NYSE: HLT) today marked a decade of fast-paced growth since its initial public offering (IPO) on the New York Stock Exchange on Dec. 11, 2013. Over the last 10 years, the more than century-old company has nearly doubled its global property and room count, more than doubled its brand portfolio, more than quadrupled the number of Hilton Honors members worldwide, and delivered total shareholder returns of approximately 330%* – outperforming major indices and industry averages – and was recently named the No. 1 World’s Best Workplace by Great Place to Work.

December 7, 2023

Leslie Hale, President and CEO of RLJ Lodging Trust, to Headline the Bharat Shah Leadership Speaker Series at the 35th Hunter Hotel Investment Conference

The Hunter Hotel Investment Conference, Noble Investment Group, and Cecil B. Day School of Hospitality Administration, Georgia State University, are pleased to announce Leslie Hale, President and CEO of RLJ Lodging Trust, will join Mit Shah, CEO of Noble Investment Group, for the 10th Annual Bharat Shah Leadership Speaker Series.

Hunter Hotel Advisors

Ad Tambourine One

All you need is one.

Some call it a website with a booking engine built in. Some call it a booking engine with a website built in. We call it One.

December 7, 2023

Europe Hotel Transactions Bulletin - Week Ending 01 December 2023

Arrow Global acquires Palmares resort in Portugal from King Street and Kronos, Amixalan acquires the Sercotel Rosaleda Malága hotel in Spain from Activ-Group, Redman Hospitality acquires future Holiday Inn Express in Paris from AKERA, Vicartem and Extendam acquire Hôtel Amiral in Nantes, France, Unike Hoteller acquires Roemskog Spa & Resort in Norway from Bakkegruppen.

December 4, 2023

AHLA Statement in Support of the No Hidden FEES Act

American Hotel & Lodging Association (AHLA) President & CEO Chip Rogers is speaking out today in support of the No Hidden FEES Act, which was introduced in the U.S. House of Representatives by Reps. Young Kim, R-Calif., and Kathy Castor, D-Fla.

November 29, 2023

Europe Hotel Transactions Bulletin - Week Ending 24 November 2023

Gelba Fastigheter acquires 51% stake in Host Property AB, Starwood Capital sells Comfort Hotel Vesterbro in Copenhagen to Nrep, Another Place acquires The Machrie hotel in Scotland, IDF Tourisme & Territoires acquires 11BAUER Paris Saint Ouen.

November 15, 2023

Asia Pacific Hospitality Newsletter - Week Ending 10 November 2023

CapitaLand Ascott Trust to divest two Sydney hotels for A$109 million, Changi Airport's Terminal 2 fully reopens with lush greenery and digital waterfall display, Firefly commences inaugural flight from Penang to Bangkok, Malaysian Government to study feasibility of building pan-Borneo railway, says Transport Minister.

November 15, 2023

S Hotels & Resorts’ Revenue Surges 18% as Asset Enhancement Strategy Drives Growth

S Hotels and Resorts PCL (SET: SHR, or “the Company”), the global hospitality company from Singha Estate PCL (SET: S), has announced that it generated THB 7,222 million (approx. USD 203 million) in revenue in the first nine months of 2023, a significant increase of 18% from the same period last year. This achievement highlights the continued resurgence of the global tourism industry, from which the Company’s operations have greatly benefited.

S Hotels & Resorts

November 14, 2023

Hotel P&L Example

Understanding your hotel’s financial performance involves thorough analysis of your balance sheet and what is often called your income statement – more commonly referred to as your P&L statement when talking with STR.

November 14, 2023

Europe Hotel Transactions Bulletin - Week Ending 10 November 2023

Marina d'Or resort in Spain acquired by Grupo Fuertes and Magic Costa Blanca, Extendam and partners acquire portfolio of 13 economy hotels in France, Hotel NH Marbella in Spain acquired by General de Galerías, CapMan Hotels II fund acquires office building for hotel extension in Finland.

November 10, 2023

Budgeting for Change - Part 2

In the second of our series on the budget approval process, we are looking at specific areas to look at which can ease the approval process and ensure a more accurate budget and a profitable following year.

Global Asset Solutions