IHG report shows Chinese opportunity: IHG partnered with Oxford Economics to publish a comprehensive study of the Chinese travel market. The report shows favorable economic and demographic trends that are increasing demand for international travel over the next decade. The study also reports that increases in leisure and retail spend will contribute to significant increases in the value of Chinese travelers to local economies.
Crestline to manage 34 hotels: Crestline Hotels & Resorts has assumed management of a portfolio of 34 full, select and extended stay hotels in 15 U.S. states that were acquired by American Realty Capital Hospitality Trust. Brands include Embassy Suites, Hyatt Place, SpringHill Suites, Courtyard by Marriott, Hilton Garden Inn, Fairfield Inns & Suites, Homewood Suites, Residence Inns and Hampton Inns.
U.S. construction reaches high: Lodging Econometrics reports that with 3,645 projects/460,551 rooms, the 2014 total U.S. construction pipeline stands at its highest level in six years. After a three-year bottoming formation, the pipeline has now posted five consecutive quarters of double-digit year-over-year growth.
Hotel transactions in Europe: Savills has reported a major increase in hotel transaction volumes in Europe’s smaller cities, with totals rising by as much as 94% in Dublin to €234 million (US$262.1 million) and 39% in Berlin to €411 million (US$460.3 million) in 2014.
Hampton Inn Miami-Doral Dolphin Mall management: White Lodging has taken over management over the management of the Hampton Inn Miami-Doral Dolphin Mall. This is White Lodging’s fifth Hampton Inn.
Doubletree Suites Salt Lake City acquired: HRI Properties has purchased the Doubletree Suites by Hilton in Salt Lake City. The 241-room hotel recently received more than US$6 million in capital improvements and HRI is planning an addition US$2.5 million of property enhancements.
Doubletree Suites Indianapolis-Carmel acquired: Waramung LS Hotels has purchased the Doubletree Suites by Hilton Indianapolis-Carmel. Waramaug plans to convert the property in one year to a Homewood Suites, but will operate as a Doubletree while the conversion takes place. The US$6.5 million dollar project will include the installation of kitchens in every suite.
AMResorts grows in Costa Rica: Following six months of renovations, Apple Leisure Group subsidiary AMResorts will open Secrets Papagayo Resort & Spa in Costa Rica in November as an adults-only resort. This is AMResorts’ second property in Costa Rica and its third deal for 2015.
Read more at AMResorts’ website