Airbnb adds US$1 billion for expansion: Airbnb secured a US$1 billion debt facility from several large U.S. banks, including JPMorgan Chase & Co., Citigroup, Bank of America Corp and Morgan Stanley, to help develop new services and fund growth initiatives. The financing gives Airbnb more money to spend on global growth strategies and expansion beyond home-sharing.
Airbnb revenue in Boston: A new report from the American Hotel & Lodging Association reveals 83% of Airbnb revenue (almost US$40 million) in the Boston region came from operators who listed their units for rent for more than 30 days per year. Operators listing multiple units for rent drove 45% of Airbnb’s revenue (US$21 million) in the Boston region.
HNA, Oceanwood clash over NH Hotel board: HNA Group Co. urged NH Hotel Group SA investors to reject a minority shareholder’s proposal to remove directors representing the company from the hotel operator’s board. NH Hotel Co-Chairman and HNA representative Charles Mobus also urged investors to vote against Oceanwood Capital Management’s proposal to remove HNA’s directors on the NH Hotel company board when it holds its shareholder meeting on June 21.
Aimbridge to manage in Austin: Aimbridge Hospitality will manage the Residence Inn Austin Airport. The 120-room hotel is scheduled to open in July.
Co-living concept debuts in Miami: Roam, a global network of communal living, announced a new location in Miami, marking the first U.S. outpost and second site to open worldwide.
SM Group to invest in new hotels: The SM Group will invest P7 billion over the next five years to expand its hotel and convention center business. The budget will be used to build five new hotels and one convention center.
Two Marriotts come to Amsterdam: Two new Marriott International hotels will be constructed in Amsterdam. The hotels will be built in collaboration with Heren2, Cycas Hospitality and Marriott International. It is expected that the hotels will open their doors in fall 2017.
Disney closes beach area in Florida: Disney is closing all beach areas in its Lake Buena Vista resorts in Florida after an alligator dragged away a 2-year-old boy at the Grand Floridian Resort & Spa.
Read more at the Jamacia Observer
China faces downturn: According to Lodging Econometrics’ China Construction Pipeline Trend report, China’s pipeline for Q1 2016 had 2,448 hotels with 549,222 rooms, down 8% by projects and 1% by rooms year-over-year. This marks the second consecutive quarter of year-over-year decline.
Read more at China Travel News