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.
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 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 (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.
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.
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.
Plenitude Buys Second Hotel In Seoul For RM114 Million, Ichigo Sells Five Hotel Assets To Ichigo Hotel For Combined 15.1 Billion Yen, Sentosa Development Corporation Has Signed A Tripartite Memorandum of Understanding To Boost Inbound Tourism, Gold Coast Councillors Approves AUD333 Million Movie World Hotel, Vietjet To Service Flights From Ho Chi Minh City To Jakarta.
CapitaLand Ascott Trust (CLAS) has signed a Memorandum of Understanding (MOU) with its sponsor, The Ascott Limited (Ascott), for a proposedDPS-accretive acquisition of three lodging assets in the United Kingdom (UK), Ireland and Indonesia at an agreed property value of S$530.8 million. The three assets are a hotel in London, The Cavendish London; a hotel in Dublin, Temple Bar Hotel; and a serviced residence in Jakarta, Ascott Kuningan Jakarta. The acquisition will enable CLAS to enhance its income streams and capitalise on the travel recovery and robust lodging demand.
Invincible Investment Corporation Acquires 6 Properties for JPY 57.2 Billion, USD2.1 Billion Integrated Development To Be Developed In Genting Highlands, Malaysia, Tourist Fees Planned For Bali From 2024, With Fees Directed To Cultural Preservation And Tourism Infrastructure Development, Tasmania’s New Tourism Strategy.