Shangri-La Group is thrilled to announce the appointment of Kieran Twomey as the new Regional Head of Operations for the Middle East, India, Indian Ocean, Europe, and the Americas (MEIA). This strategic move underscores the Group’s commitment to enhancing its brand presence, operational excellence, and sustainable growth across these critical markets.
Source: breakingtravelnews.com
Hotel Industry Expert Predictions for Occupancy and ADR Hold Steady, Even with Declining Confidence in Demand
Compared to the previous iteration of this study in Q4 2023, overall business confidence for the next 12 months has held steady, with 35% of respondents rating their confidence at an '8' or higher on a 10&point scale. Source: hotelnewsresource.com … [Read More...]
InterContinental Hotels Group Reports Q1 Trading Results
InterContinental Hotels Group reported its first-quarter trading results, highlighted by global RevPAR gains and significant system-wide growth. Specific highlights include the following: ● Q1 global RevPAR +2.6 percent YOY, with Americas -0.3 percent, EMEAA +8.9 percent and Greater China +2.5 percent ● Average daily rate +2.3 percent, occupancy +0.2 percent pts ● Gross … [Read More...]
Lark Hotels opens Stilwell Hotel
Lark Hotels has opened the Stilwell Hotel in Carmel-by-the-Sea, CA. The property features 42 guestrooms, as well as several custom fountains, including a 20-by-18-ft. living water wall. “Carmel-by-the-Sea has an innate charm and a warmth that we have always been drawn to,” said Lark Hotels CEO Peter Twachtman. “We’re proud of Stilwell Hotel’s embodiment of that warmth and hope locals and visitors … [Read More...]
Omni Atlanta Hotel at Centennial Park Unveils Stunning Renovation and Rebrand with New Name
Guest Rooms & Suites Receive Timeless Refresh Highlighting the Hotel's Rich History in the Atlanta Market. Omni Atlanta Hotel at Centennial Park, an iconic landmark in the heart of downtown Atlanta, is thrilled to announce a comprehensive renovation and rebranding. Inspired by Atlanta's role as a hub for global travel, media and transformative meetings and conventions on a global scale, this … [Read More...]
These are the world’s top 10 cleanest airports – only one is in Europe
A new ranking reveals Asia has the world’s cleanest airports based on factors including the cleanliness of seating and toilet facilities. The world’s top 10 cleanest airports have been announced - and only one hub in Europe features on the list.In fact, the ranking is almost exclusively made up of airports in Asia, with the exception of Zurich in Switzerland, which comes in tenth place.The … [Read More...]
IHG reports Q1 global RevPAR up 2.6%
InterContinental Hotels Group PLC (IHG), for the first quarter ended March 31, reported global RevPAR increased 2.6% compared to the same period last year, with the Americas down 0.3%, Europe, Middle East, Africa and Asia (EMEAA) up 8.9% and Greater China up 2.5%. “Global RevPAR in the first quarter of 2024 continued to grow, up 2.6%, reflecting the strength of our globally diverse … [Read More...]
Walker & Dunlop closes $155M refi for NYC’s The Lexington Hotel
Walker & Dunlop Inc. (W&D) has arranged a $155-million refinancing deal for The Lexington Hotel, a historic landmark in Midtown Manhattan. Acting as the exclusive advisor to Lexington Hotel Owner LLC, a joint venture between MCR, Island Capital Group LLC and Three Wall Capital, Walker & Dunlop secured the financing through lender Hudson Bay Capital. Initially completed in 1929, The … [Read More...]
Gencom refinances Rosewood Bermuda with Blackstone, KSL
Affiliates of Gencom, an international owner, developer and manager of hospitality and residential properties, have refinanced the Rosewood Bermuda. The five-star resort is located in Tucker’s Point, spanning 240 waterfront acres and featuring more than 800 linear ft. of beachfront. The financing was originated by Blackstone Mortgage Trust Inc. and KSL Capital Partners LLC for an undisclosed … [Read More...]
Driftwood acquires Marriott Raleigh Durham Research Triangle Park
Driftwood Capital has acquired the Marriott Raleigh Durham Research Triangle Park, a 225-key, full-service, upper-upscale hotel located in North Carolina’s Research Triangle area. The company will carry out an extensive renovation project to enhance numerous features throughout the hotel. Franklin BSP Realty Trust originated a multimillion, two-year loan with three one-year extension options at a … [Read More...]
Room Mate adds collection brand
Room Mate Hotels has launched a refreshed look, and a new brand, as it looks forward to growth in 2024 after a year of consolidation. The company, which currently has 22 hotels across Europe, reported 2023 revenues of EUR106.5m, up 37% as business returned following the pandemic period. Having achieved ebitda of EUR15.7m in 2023, the company is targeting an improvement to EUR24.1m in fiscal year … [Read More...]