Global travel technology company OYO’s U.S. operations outpaced the budget hotel segment’s growth in RevPAR with an 18% rise in 2022 versus 2019. The budget hotel segment grew by only 6% in the U.S., according to STR reports. OYO has seen significant growth in its priority markets of Miami, Houston and Phoenix, where it has sizable concentration of hotels, the company reports. According to STR … [Read more...]
Crescent adds The Marker to Latitudes portfolio
Hotel management company Crescent Hotels & Resorts, has added The Marker hotel in San Francisco to its portfolio of more than 100 hotels and resorts in the U.S and Canada. The hotel joins the company’s Latitudes: Lifestyles by Crescent platform of lifestyle hotels and resorts. The Marker, which debuted as the Bellevue Hotel in 1910 and is located close to Union Square, features 208 … [Read more...]
The Westin Atlanta Gwinnett Hotel to Open Spring 2024
The Westin Atlanta Gwinnett, a new hotel located on the campus of the Gas South District near Duluth, Georgia, last week celebrated its official topping off. A significant milestone, the 11-story, 348-room hotel is on track for a grand opening in the spring of 2024. Source: hotelnewsresource.com … [Read more...]
STR Reports Amsterdam Hotels Showed Typical Seasonal Slowing in January
The market’s ADR level surpassed the pre-pandemic comparable from 2019 (+18.5%), while occupancy and revenue per available room (RevPAR) remained off the pace by 17.7% and 2.5%, respectively. Source: hotelnewsresource.com … [Read more...]
Plans Four Seasons Hotel Taipei Announced
Four Seasons Hotel Taipei will be located in the Xinyi District, directly opposite to Taipei 101, one of the most iconic skyscrapers in Asia and one of the tallest towers in the world. Source: hotelnewsresource.com … [Read more...]
Element Basalt Aspen sold
JLL’s Hotels & Hospitality Group has closed the sale of the Element Basalt Aspen, a 113-key extended-stay hotel in Basalt near Aspen, CO. JLL represented the seller, Silverwest Hotels LLC, and its partners and procured the buyer. JLL also secured acquisition financing for the buyer. Element Basalt Aspen offers contemporary guestrooms with views of the surrounding mountains. The four-story … [Read more...]
STR Reports Bangkok Hotels Posted Second-highest ADR on Record in January
The market’s January ADR level was 21.5% above the pre-pandemic comparable from 2019, while occupancy and RevPAR remained below the 2019 comparables by 19.7% and 2.4%, respectively. Source: hotelnewsresource.com … [Read more...]
Marriott reports strong Q4, full-year 2022 results
Marriott International Inc. reported worldwide RevPAR increased 28.8% in the 2022 fourth quarter, ended Dec. 31, compared to the 2021 fourth quarter. RevPAR in the U.S. & Canada increased 23.6% and 45.1% in international markets. For the year, the company added more than 65,000 rooms globally during 2022, including approximately 40,000 rooms in international markets and nearly 17,500 … [Read more...]
A Look at the Sneaky Fees at Canada's Biggest Tourist Spot That Some Call 'a Total Cash Grab' – CBC
Marketplace tracks the growing charges at restaurants, hotels and attractions Source: hotelnewsresource.com … [Read more...]
HEI adds Cindy Murphy
Hospitality investment and management company HEI Hotels & Resorts has named Cindy Murphy regional VP, operations. “A hospitality expert with nearly 30 years of experience, Cindy is the ideal candidate to help HEI achieve its growth goals by providing invaluable support to our general managers in the field,” said Anthony Rutledge, managing partner/CEO, HEI Hotels & Resorts. “She has worked … [Read more...]
Remington Goes ‘Green,’ Elevating Former Chesapeake Chieftain to President
Chris Green, President, Remington Hotels When Remington Hotels acquired Chesapeake Hospitality in April, the company gained more than a portfolio of premium branded properties, many of which were in major Midwest markets. Just as importantly, the company also bolstered its leadership team with Chesapeake CEO Chris Green, who was recently tapped to take the reins of the Dallas-based … [Read more...]
The Safest US Cities for 2023
There are plenty of safe travel destinations across the United States to explore in 2023 but some places offer more security and peace of mind than others. With safety a top priority for many Americans when planning travel, let's dive into the numbers to find out which destinations fare the best. ADVERTISING Trending … [Read more...]
Lenders remain active in the hotel sector
Real estate investment banking firm RobertDouglas’s Ninth Annual Lender Survey, just released, found that despite rising interest rates, inflation and recessionary fears, lenders remain active in the hotel sector, with more than 90% planning to maintain or increase hospitality exposure. Location and quality of the asset continues to remain the most important “gating” issue for loan requests, with … [Read more...]
Deep dive with Warren Fields, CEO, Pyramid Global Hospitality
Warren Fields outlined how Pyramid Hotel Group and Benchmark Global Hospitality joining forces means that the united entity is progressing with a portfolio of 240 properties in the US, Caribbean and Europe. Best of both worlds Fields was a founding partner of Pyramid and was instrumental in the process of bringing Benchmark onboard. “For the most part, the really hard things from the merger are … [Read more...]
Angkor Wat: Cambodian villagers face eviction as part of plan to protect famous heritage site
Chan Vichet lives and works just 500 metres from the Angkor Wat temple in Cambodia. He has been here for seven years, drawing inspiration from the surroundings to create paintings he sells to tourists.But soon the artist and 10,000 other families will have to leave the UNESCO World Heritage Site."Since I heard about the relocation plan, I feel numb," said 48-year-old Chan."I'm struggling to … [Read more...]
Ruby Hotels initiates Irish entry
Ruby Molly will be built in the centre of the Irish capital with an opening scheduled for Q1 2024. Inviting spaces The newbuild will comprise 272 rooms and over 500 sq m for a bar, café, and lounge on the ground floor, which is open to both guests and the public. The expansive Ruby Bar and Lounge areas, which are easily visible from the street, have been deliberately designed to be inviting for … [Read more...]
Dublin’s Morrison Hotel secures over €42m refinancing
Ireland: Bank Leumi UK has agreed a €42.55 million deal to refinance the five-star Morrison Hotel, a Curio Collection by Hilton property in the centre of Dublin. The loan has been agreed with Centauro Investment XI SARL, an SPV owned by London-based private equity firm Zetland Capital. The terms of the deal have been agreed for five years. Zetland acquired the 145-room property in 2021. Located on … [Read more...]
Philipburn Hotel up for sale at £1.3m
UK: The four-star Philipburn Hotel, in the Scottish border town of Selkirk, has been brought to market at a guide price of £1.35 million. The Philipburn Hotel, part of the Best Western Group Signature Collection brand, is being jointly marketed by Graham + Sibbald and Smith & Clough. Offering 20 bedrooms with additional three apartments for private accommodation, amenities include a bar, … [Read more...]
Marriott Exceeds Pre-Pandemic Growth in 2022
Marriott International, Inc. has seen its economic outlook continue to improve over 2022, as seen in its latest fourth quarter and year-end report, signaling once again a slow yet steady rise above the pre-pandemic average.In comparison with the last quarter of 2021, RevPAR, or revenue per available room, grew 28.8 percent worldwide – international markets grew 45.1 percent, while the U.S. and … [Read more...]
Easter travel chaos could hit Heathrow after Border Force strikes in February and March
Strikes at UK airports and ports are set to impact travellers in February, March and April.Half-term holidaymakers could face disruption when returning home between 17-20 February as UK Border Force go on strike. A further walkout is planned for 15 March, which is set to involve around 100,000 civil service workers, including Border Force staff at airports. More than 2,000 flights … [Read more...]