Search

×

News in brief: Starwood Hotels, Accor, Apa Group

Starwood Hotels’ shareholders push for merger or buyout: Bloomberg reported Starwood Hotels & Resorts Worldwide may need to accommodate activist shareholders with a merger or buyout. Starwood reportedly has one of the worst stock-return and growth outlooks in the industry. It’s also entering the second month of searching for a CEO.

Read more at Bloomberg

 


Accor reports sustained revenue: First-quarter 2015 business activity was strong across all of Accor’s markets. Most notably, HotelInvest reported a 4.8% increase in quarterly revenue to €1,055 million (US$1.14 million) and HotelServices reported a 7.6% like-for-like increase in revenue to €290 million (US$312.13 million).

Read more at Accor’s website

 


Apa Group plans Japan’s largest hotel: Apa Group is aiming to build Japan’s biggest hotel in time for the Tokyo 2020 Olympics. The unlisted operator of mid-priced accommodation plans to open a 2,400-room hotel in the port city of Yokohama. 

Read more at Reuters

 


New Zealand hotels reach record occupancy: According to Auckland Tourism, Events and Economic Development Limited, the occupancy rate for New Zealand hotels hit 83% for the year ended in February. An additional 77,000 rooms were sold during the time period, and average the length of stay increased 4.4% to 2.1 nights for the year ended in January.

Read more at The New Zealand Herald

Comment