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.
Press Releases
Preparing for the Corporate Transparency Act Disclosure of Beneficial Ownership Information to FINCEN
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 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.
Budgeting for Change - Part 1
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 Calls on Wyndham Hotels & Resorts to Engage in Discussions
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.
Europe Hotel Transactions Bulletin - Week Ending 20 October 2023
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.
2024 Budget Planning: What is Top of Mind for Hotel Owners & Operators?
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 Board of Directors Rejects Unsolicited Proposal 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, 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 Proposes to Acquire Wyndham Hotels & Resorts for $90.00 per Share in Cash-and-Stock Transaction
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 is the UK’s first hotel brand to sublet to Popeyes at its Northampton Travelodge hotel site
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.
Accor Launches a €400 million share buyback program
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.
Europe Hotel Transactions Bulletin - Week Ending 06 October 2023
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.
HVS Asia Pacific Hospitality Newsletter - Week Ending 06 October 2023
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.
Accor announces the success of its new hybrid bond
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.
HVS Asia Pacific Hospitality Newsletter - Week Ending 29 September 2023
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.
HVS Asia Pacific Hospitality Newsletter - Week Ending 22 September 2023
NAF Acquires Japan Hotel Portfolio For JPY 3.1 Billion, Blackstone Acquires Student Accommodation Provider In Australia For $322 Million, I-Berhad Partners With Wyndham Hotels & Resorts Aiming To Reshape Malaysia’s Hospitality Landscape, Marriott Inks Multi-Property Deal In Indonesia’s New Capital: Strategic Implications For Hospitality Sector.
The Annual Gathering for Boutique Hotel Owners Scheduled to Meet in October
The Boutique Lifestyle Lodging Association (BLLA) proudly presents the 12th iteration of the esteemed Boutique Hotel Owners Conference, slated for October 10-11, 2023. This year, the Westlake Village Inn in Los Angeles will play host to a transformative retreat-style experience, captivating attendees from start to finish.
CapitaLand Ascott Trust completes divestment of four properties in regional France for EUR44.4 million
CapitaLand Ascott Trust (CLAS) has completed the divestment of four mature serviced residences in regional France to an unrelated third party for a total of EUR44.4 million (S$64.7 million[1]). The four properties are Citadines Croisette Cannes, Citadines Prado Chanot Marseille, Citadines Castellane Marseille and Citadines City Centre Lille.
HVS Asia Pacific Hospitality Newsletter - Week Ending 08 September 2023
YTL Hospitality REIT Acquires Hotel Stripes For MYR138 Million, Hop Inn Has Announced A USD283.4 Million Asia-Pacific Expansion Plan, Indonesian Paradise Property To Work With Club Med To Develop Five New Indonesia Resorts, Novotel Singapore on Kitchener Undergoes Rebranding.
HVS Asia Pacific Hospitality Newsletter - Week Ending 01 September 2023
CDL Acquires Hotel Osaka Shinsaibashi For JPY 8.5 Billion, Ong Beng Seng’s HPL Gets Provisional Nod For Orchard Road Redevelopment In Singapore, Treehouse Hotel Branches Out To Adelaide’s Market Square, TFE Lands Hotel In New Melbourne Skyscraper.