Choice reports Q1 results: Choice Hotels International reported revenue for the first quarter of 2016 was US$207.1 million, an increase of 18% from the same period in 2015 and domestic RevPAR also increased 1.2% in Q1 2016. Equity in net loss of affiliates for the quarter totaled US$2.2 million, an increase of US$1.2 million from the same period of 2015. Choice reports that equity losses from affiliates primarily reflect losses during the “ramp up period” of recently opened or under-renovation Cambria properties in major urban markets.
Raffles grows in China: Raffles Hotels & Resorts signed an agreement with Jiangsu Golden Land to open Raffles Suzhou in China. Scheduled to open in 2020, the property will include 150 rooms in a mixed-used development in the Suzhou New District Hi-Tech Industrial Development Zone.
Online, mobile strengthen North American performance: According to recent data from TravelClick, Q1 2016 RevPAR increased 1% year-over-year, fueled by online and mobile bookings. Average daily rates across all channels also increased 2% compared to Q1 2015. Based on reservations that are currently booked for Q2 2016, TravelClick expects to see additional positive growth in the second quarter, particularly for the OTA and Brand.com channels.
Hyatt Place acquired in Pennsylvania: DoveHill and Wurzak Hotel Group announce acquired the Hyatt Place King of Prussia hotel in Pennsylvania in a joint venture. Property-wide upgrades with significant engancements to the lobby, bar, fitness center and guestrooms are planned.
Genting gets license in Las Vegas: Genting Ghd obtained the Nevada Gaming Control Board’s approval to become a publicly traded corporation to purse a US$4 billion Resorts World Las Vegas. In unanimous votes, regulators recommended approval of the suitability of officers, directors and shareholders, Genting’s registration as a public company and its interactive subsidiary for mobile gaming and a loyalty program. The 3,000-room resort project broke ground last year.
Read more at the Las Vegas Review-Journal
Starboard Hotels to acquire in Leeds: Starboard Hotels acquired the Holiday Inn Express, Leeds Armouries, which was on the market for offers over £8 million. The seller was Stellar Leeds.