Centara grows in Krabi: Centara Hotels & Resorts will open its third property in Krabi, Thailand. Centra by Centara Phu Pani Resort Krabi will include 158 rooms and is scheduled to open in the fourth quarter.
Four Points to debut in Tanzania: Starwood Hotels & Resorts will introduce its Four Points by Sheraton brand in Tanzania with the signing of Four Points By Sheraton Arusha and Four Points by Sheraton Dar es Salaam. Together, both hotels will add more than 230 rooms.
Ritz-Carlton signs in China: The Ritz-Carlton Hotel Co. signed a management agreement with Hainan Golden Tide Tourism Development Co. to open its second resort in China. The Ritz-Carlton, Nanyan Bay is scheduled to open in 2017 and will include 244 guestrooms and 14 private villas.
Read more at Ritz-Carlton’s website
Conrad comes to the South Pacific: Conrad Hotels & Resorts signed a franchise agreement with Sa Bora Bora Nui for Conrad Bora Bora Nui. The 115-key resort is the former Hilton Bora Bora Nui Resort & Sap and will undergo a multimillion-dollar refurbishment and re-open in March 2017.
Swiss-Belhotel grows in Egypt: Swiss-Belhotel International signed agreements to manage two dual-branded Egyptian hotels, both scheduled to open in 2019. Swiss-Belhotel and Suites Asmarat & Swiss-Belresidences Asmarat will feature 250 rooms and 400 apartments, and Swiss-Belresort Batter Sea & Swiss-Belresidences Batter Sea will feature 300 rooms and 1,000 apartments. Both properties are owned by Ebad El Rahman Real Estate Investment and Development.
Read more at Hotelier Middle East
Andaz 5th Avenue sold: Takenaka Corp. acquired the Andaz 5th Avenue in New York City for US$215.2 million (US$1.17 million per key). The seller was a Hyatt affiliate.
Read more at Takenaka’s website
San Jose Marriott sold: Carey Watermark Investors 2 completed its acquisition of the San Jose Marriott in California for US$154 million (US$302,000 per key). The seller was CBRE Global Investors.
The Graham Georgetown sold: Legacy Hotel Group purchased The Graham Georgetown in Washington, D.C., for US$37 million. The seller was Mast Capital.
Hyatt Regency Düsseldorf sold: Primotel Europe purchased the Hyatt Regency Düsseldorf for €100 million (US$111.15 million). The sale marks the biggest individual transaction on the German hotel market of 2016.
Read more at Property Magazine International
Hilton Garden Inn Chelsea sold: DiamondRock Hospitality Co. completed the sale of the 169-room Hilton Garden Inn Chelsea/New York City for US$75 million to a China-based entity. The hotel is subject to a property improvement plan by Hilton that requires a corridor and rooms renovation.
Radisson Blu Athlone sold: Inua Hospitality acquired the Radsson Blu Hotel and Spa in Athlone, Ireland, for €9.5 million (US$10.56 million). The 128-key hotel was previously managed by Earls Holdings until Kieran Wallace of KPMG was appointed receiver in 2012.
Borgata sale approved: The Casino Control Commission approved lease agreements required for the sale of the Borgata Hotel Casino and Spa in Atlantic City, New Jersey, to MGM International. Boyd Gaming will receive US$900 million plus half of any future tax settlement that MGM reaches with Atlantic City.
Global Travel Price Outlook: According to GBTA Foundation’s 2017 Global Travel Price Outlook, travel prices are set to marginally increase or remain flat for 2017. “While business travel repeatedly demonstrates its resilience, the high level of global uncertainty we face heading into 2017 means travel buyers have to be more nimble and flexible than ever in crafting travel programs,” said Jeanne Liu, vice president for research, at GBTA. “The outlook shows only marginal increases or flat travel prices, but for 2017, the key to building successful travel programs will be watching and reacting to an ever-changing global landscape.”
Loyalty programs: According to a recent study from The Hong Kong Polytechnic University, the popularity of relationship marketing for both companies and their customers has led to a proliferation of loyalty and reward programs to make customers feel “special, important and appreciated.” Economic rewards help to build customer loyalty, especially among new members, by “enhancing trust and commitment,” while social rewards help companies to build relationships with their customers because the customers perceive the benefits as “rare and exclusive.”
Plans for Broadway Hotel Woolloongabba: The Broadway Hotel in Woolloongabba in Brisbane, Australia, is set to become part of a 24-tower development. The historic hotel will remain part of the AUS$260 million (US$TK million) project that includes 280 apartments. The hotel has laid dormant since being extensively damaged by fired in 2010.