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.
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.
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.
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.
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.
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.
New federal disclosure requirements for your businesses and entities will become effective January 1, 2024 – the reporting requirements are burdensome, can be triggered multiple times in a single calendar year and are subject to both civil and criminal liability. Accordingly, you should prepare to comply with the new law now.
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.
Each season brings with it change and, depending on the time of year, the chance for renewal and growth. This is no less true for budget season, although for many in the hotel sector, it can also come with a sense of foreboding.
Choice Hotels International, Inc. (NYSE: CHH) (the "Company" or "Choice"), today called upon the board of directors of Wyndham Hotels & Resorts, Inc. (NYSE: WH) ("Wyndham") to engage in good faith discussions so that shareholders of both companies can benefit from the compelling combination.
Gruppo Statuto acquires Six Senses Rome from Orion Capital, TwentyTwo acquires Center Parcs Allgau in Germany from Lagune International, La Française REM acquires future ski hotel in the French Alps from ADIM Lyon, AURELIUS acquires the Lindemann Hotels group and its four hotels in Berlin, Catalonia Hotels & Resorts completes buy-back of two hotels in Ronda, Spain, Corum acquires Cavern Quarter mixed-use site including ibis Styles in Liverpool, UK, MIJH acquires the Carnoustie Golf Hotel & Spa in Scotland, UK, Compass Hospitality acquires The Esplanade Hotel in Paignton, UK, Lord Scarbrough acquires the Lumley Castle Hotel in Durham, UK, out of administration, Kronen Hotels acquires Jesmond Dene House in Newcastle, UK.
Budget season is upon us, and around the world hotel owners and operators are buried deep in data trying to come up with 2024 performance numbers. What unique challenges are hotels facing in the 2024 budgeting and planning process? HotStats reached out to global hospitality leaders to find out.
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, announced that its Board of Directors unanimously rejected a highly conditional, unsolicited stock-and-cash proposal by Choice Hotels International, Inc. (NYSE: CHH) (“Choice”) to acquire all outstanding shares of Wyndham.
Choice Hotels International, Inc. (NYSE: CHH) (the "Company" or "Choice"), today announced a proposal to acquire all the outstanding shares of Wyndham Hotels & Resorts, Inc. (NYSE: WH) ("Wyndham") at a price of $90.00 per share, payable in a mix of cash and stock.
Travelodge, the UK’s first budget hotel chain, which operates nearly 600 hotels across the UK, Ireland, and Spain, is delighted to announce it has entered a sublet agreement with Popeyes Louisiana Chicken. The global brand, which is renowned for its ‘Shatter Crunch’ chicken, is taking the UK by storm and has opened one of its first UK drive-thru restaurants at the Northampton Upton Way Travelodge hotel site.
Following the recent rating upgrade to Investment Grade by Standard & Poors and the successful refinancing of its €500 million perpetual hybrid bond issued on January 31st, 2019, Accor announces today the launch of a €400 million share buyback program, consistent with the commitment it made to return €3 billion to shareholders over the 2023-27 period.
Warner Leisure acquires two UK country hotels, in the Midlands and near Edinburgh, Whitbread acquires office building in London to convert to hotel-led mixed-use, CapitaLand Ascott Trust divests four Citadines aparthotels in France, Alchemy Step acquires two hotels in Germany and partners with Marriott, DER Touristik acquires Aldiana Club Fuerteventura, Spain, from Alfredo Morales, Limestone Capital acquires the Axel Hotel Madrid from Hotel Investment Partners, Premier Inn acquires the BW Plus Marina Star Hotel Lindau in Germany from ImmoLeen, Indotek acquires Hotel H-Top Royal Beach in Lloret de Mar, Spain, from H Top Hotels, The Ainscow Hotel in Manchester, UK, sold out of Administration, Turenne Capital and BPI France acquire the Hôtel des Roys in Versailles, France, RAD acquires the Seamill Hydro Hotel in Ayrshire, Scotland, from the Sweeney family.
Indonesian President Introduces Indonesia’s First High-speed Railway, Hainan Airlines Starts Flights From Shenzhen To Italy, Flights Launched Between Ho Chi Minh And Perth, Marriott To Debut First Property In Papua New Guinea.
Following the rating upgrade to Investment Grade by Fitch and Standard & Poors, Accor, today, successfully placed a EUR500m perpetual hybrid bond issue with a 7.25% coupon.
Japan Hotel REIT Investment Acquires Three New Assets In Key Japanese Locations, Asia's richest, including the IOI Group brothers, ramp up hotel investments in Singapore, Phuket stakeholders embrace the potential of Phang-Nga Airport project, Skypark Lucean Jomtien Pattaya: Banyan Tree’s New Luxury Condominium Project, China launches first cross-sea bullet train line near Taiwan Strait.