Intercontinental Hotels Group (IHG) reported RevPAR for the Americas was up 3.3% for full-year 2022 vs. 2019. Worldwide ADR was up 8% vs. 2019, while occupancy was down 7 percentage points vs. 2019. “In 2022, we saw demand return strongly in most of our markets, pushing group RevPAR back close to 2019 levels and fee margin ahead,” said Keith Barr, IHG Hotels & Resorts. “It’s … [Read more...]
GlobalData: Travel and tourism deals dip 42%
Challenging global economic conditions and their implications reflected their impact on the travel and tourism sector’s deal activity in the first month of 2023. A total of 38 deals (comprising merger and acquisition, venture financing and private equity deals) were announced in the sector globally in January 2023, which is a decline of 42.4% in terms of deals volume compared to the previous … [Read more...]
Noble names Jennifer Eager VP, fund and corporate accounting
Noble Investment Group has appointed Jennifer Eager as VP, fund and corporate accounting. She will be responsible for all aspects of the firm’s accounting and reporting functions. She joins Noble from Stoneweg U.S., where she served as controller/interim CFO, contributing to the company’s growth. She has 15 years of technical accounting and reporting experience with both public and … [Read more...]
HSMAI Americas welcomes new board members
The Hospitality Sales and Marketing Association International (HSMAI) has revealed the members of its 2023 Americas Board of Directors and Executive Committee. HSMAI America’s leaders represent a cross section of the industry’s most respected hotel and hospitality brands, academics, and suppliers, according to the organization. The board is composed of senior travel and hospitality executives from … [Read more...]
Remington Hotels adds Texas hotel
Hotel management company Remington Hotels has signed a management agreement for La Quinta Inn & Suites by Wyndham Lakeway. The property marks the company’s fifth hotel in the Austin area. Remington will manage the hotel’s sales, marketing, operations, revenue management and overall customer satisfaction results. “The addition of the La Quinta complements both the Springhill Suites West Austin … [Read more...]
STR: U.S. hotel results for week ending Feb. 11
U.S. hotel performance increased from the previous week, according to STR‘s latest data through Feb. 11. Feb. 5-11 (percentage change from comparable week in 2019): Occupancy: 57.8% (-8.7%) ADR: $150.97 (+13.4%) RevPAR: $87.21 (+3.6%) While none of the top 25 markets saw an occupancy increase over 2019, Dallas came closest to its 2019 comparable (-0.7% to 66.1%). Helped by Super Bowl LVII, Phoenix … [Read more...]
Canopy by Hilton debuts in Canada
Hilton, Easton’s Group of Hotels and The Gupta Group have opened Canopy by Hilton Toronto Yorkville, marking the brand’s Canadian debut. “We’re excited to open Canada’s very first Canopy by Hilton hotel in Toronto,” said Reetu Gupta, ambassadress, The Gupta Group and Easton’s Group of Hotels. “With its premium location, the hotel will bring a unique blend of sophistication, … [Read more...]
AHLA promotes two executives to EVP roles
The American Hotel & Lodging Association (AHLA) has promoted two longtime hotel industry leaders. Troy Flanagan was named EVP, external government affairs and industry relations, and Chirag Shah was appointed EVP, federal and political affairs & counsel. In his role, Flanagan will serve as the strategic leader of AHLA’s integrated outreach to public officials, while strengthening the … [Read more...]
Placemakr to open pop-up hotel in Maryland
Placemakr, a tech-enabled flex-use hospitality and multifamily operator, has launched its newest pop-up hotel—WhyHotel by Placemakr, Columbia in Columbia, MD—which will be open to guests next month. Located in Marlow, an apartment community in Downtown Columbia, the hotel, like all WhyHotel by Placemakr pop-ups, is a limited-time-only chance for guests to book a room at a brand-new location. In … [Read more...]
LHA unveils Hotel & Entrepreneurship Investment Report
The Latino Hotel Association released the 2023 inaugural Latino Hotel and Entrepreneurship Investment (LHEI) Report showcasing data and research detailing Hispanic entrepreneurship, economic and population growth, and specific opportunities and barriers to Latino business ownership within and outside the hospitality industry. The report advocates for specific policy needs necessary for Latinos to … [Read more...]
HEI adds Saranac Waterfront Lodge to portfolio
HEI Hotels & Resorts has added the 93-room Saranac Waterfront Lodge in Saranac Lake, NY, bringing its portfolio of third-party managed hotels to 101. “A beloved local destination, the Saranac Waterfront Lodge has a wonderful reputation we look forward to expanding upon with both locals and visitors,” said Rachel Moniz, principal/COO, HEI. “With an incredible location in the heart of the … [Read more...]
Hyatt reports ’22 RevPAR growth of 60.2% YOY
Hyatt Hotels Corporation reported net income of $294 million in the fourth quarter of 2022 and $455 million for the full year. Comparable systemwide RevPAR increased 34.8% in the fourth quarter and 60.2% for the full year of 2022 year-over-year. “Our results in the fourth quarter mark the completion of a truly transformative year,” said Mark S. Hoplamazian, president/CEO, Hyatt. … [Read more...]
JLL: U.S. hotel sales kick-off 2023 with record-breaking pricing in growing markets
Despite a slowdown in sales in the second half of 2022 due to dislocation in the debt markets, hotel investors have kicked off 2023 with record sales for quality assets in highly desirable and growing markets, according to JLL Hotels & Hospitality Group. A recent example of these transactions includes the sale of the Diplomat Beach Resort in Hollywood, FL, which was the third-largest … [Read more...]
JLL: U.S. hotel sales kick-off 2023 with a bang
Despite a slowdown in sales in the second half of 2022 due to dislocation in the debt markets, hotel investors have kicked off 2023 with record sales for quality assets in highly desirable and growing markets, according to JLL Hotels & Hospitality Group. A recent example of these transactions includes the sale of the Diplomat Beach Resort in Hollywood, FL, which was the third-largest … [Read more...]
Dual-branded Element/Le Méridien opens in Salt Lake City
Element Hotels and Le Méridien Hotels & Resorts, together with The Ritchie Group and Garn Development, have opened Element Salt Lake City Downtown and Le Méridien Salt Lake City Downtown. The dual-branded property features Element’s 100th global opening and its first in Salt Lake City. It also marks the first Le Méridien in Utah. This first-ever combination of the two brands is managed by Azul … [Read more...]
Wyndham reports strong Q4 and ’22 results
Wyndham Hotels & Resorts reported strong results for the fourth quarter and end of the year for 2022, including a 12% year-over-year pipeline increase. Highlights include: Global RevPAR grew 15% compared to fourth quarter 2021 in constant currency, a 300-basis point improvement sequentially, representing 116% of 2019 levels; full-year global RevPAR grew 20% year-over-year in constant … [Read more...]
Hotel renovation and conversion activity soars in the U.S.
Hotel renovation and conversion pipeline activity, at the end of the fourth quarter of 2022, is at the highest totals Lodging Econometrics (LE) has ever recorded. Renovations and conversions account for more projects and rooms than those that are currently in the under construction stage of the new construction pipeline. At the end of Q4 ’22, there were a total of 1,008 projects/135,492 rooms … [Read more...]
New video strategies and technologies define next generation of hotel experience
By Richard Neville As executives in the global hospitality sector assess new market dynamics in the aftermath of a long pandemic season, they are coming to grips with significant shifts in what travelers worldwide now expect regarding their digital entertainment and information needs. The pandemic era’s shelter-in-place economy has not only left an indelible mark on consumers’ … [Read more...]
Outrigger partners with Solonis
Solonis, a provider of property management solutions, has partnered with Outrigger Hospitality Group to deliver its property management system and guest engagement technologies to its portfolio of 16 Hawaii Vacation Condo properties across Hawaii. “We appreciate Solonis’ thoughtful approach towards innovation and are pleased to partner with them to provide our condo owners and guests with new … [Read more...]
PwC: Manhattan had solid Q4
Increases in occupancy, ADR and RevPAR continued to accelerate across Manhattan during the second half of 2022, according to PwC’s Manhattan Lodging Overview. Q4 RevPAR experienced a year-over-year increase of 54.2%, with the strongest gains in October—up 85.8%. Q3 RevPAR increased 75.1% from the same period in 2021. “RevPAR exceeded pre-pandemic levels at Manhattan hotels for the first time in 2H … [Read more...]