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News in brief: Hersha, Lemon Tree, Marriott

Hersha sells five-hotel portfolio: Hersha Hospitality Trust entered into a definitive agreement to sell a five-hotel portfolio totaling 757 rooms for US$185 million, or US$244,00 per key. The hotels include the Courtyard Alexandria in Virginia, Residence Inn Greenbelt in Maryland, Hyatt House Scottsdale in Arizona, Hyatt House Pleasant Hill in California and Hyatt House Pleasanton in California. The portfolio’s sale is expected to close by the end of 2016.

Read more at Street Insider

 


Lemon Tree considers Optus: Lemon Tree Hotels is in talks to buy Optus Group’s hotel portfolio. The deal is expected to be finalized in several weeks.

Read more at DNA India

 


Marriott expands partnership in China: Marriott International signed franchise contracts for five new Fairfield by Marriott hotels along with management contracts for a Courtyard and a Marriott Hotel in China. The five franchised Fairfield by Marriott Hotels will all be managed by Eastern Crown Hotels Group as part of the development agreement from earlier this year.

Read more at Marriott’s website

 


Hilton signs in Aberdeen: The Aberdeen City Council and Hilton Worldwide signed a franchise license agreement to open a 200-room Hilton Hotels & Resorts property at the new Aberdeen Exhibition and Conference Centre (AECC) in Scotland. Hilton Aberdeen Exhibition & Conference Centre is expected to open in 2019 and will be the fourth Hilton property in Aberdeen.

Read more at Hilton’s website

 


Steigenberger grows in China: Steigenberger Hotel Group signed an agreement to open Steigenberger Hotel Heihe in China. The hotel will include 202 rooms and suites and is scheduled to open in summer 2017.

 


Starwood grows in Quebec: Starwood Hotels & Resorts Worldwide signed the Sheraton Saint-Hyacinthe Hotel in Quebec. Slated to open by the end of 2017, the 205-key hotel marks Starwood’s 13th hotel in Quebec.

Read more at Starwood’s website

 


Wyndham names chief development officer: Wyndham Hotel Group appointed Philippe Bijaoui chief development officer for Europe, Middle East, Eurasia and Africa. Most recently, Bijaoui was vice president development Europe for IHG.

Read more at Wyndham’s website

 


Marcus adds in Lake Geneva: Marcus Hotels & Resorts will add 29 all-season villas to the Grand Geneva Resort & spa in Lake Geneva, Wisconsin. By June 2017, the Grand Geneva campus will offer more than 600 units combined. 

Read more at Business Wire

 


Louisville to add two hotels: Developer Steve Poe and partners will open two hotels in Louisville, Kentucky. The hotels will total about 300 room and will be Westin and Moxy brands. The two-hotel project’s total cost will be about US$80 million.

Read more at the Courier-Journal

 


NFL’s impact on hotel revenue: STR reports that the National Football League generated an average impact of US$75 million on hotel room revenue during the past eight seasons.

 


Asia Pacific construction pipeline declines: According to the recent Asia Pacific Construction Pipeline Trend Report from Lodging Econometrics, excluding China, the region has 1,539 projects (308,792 rooms), down 6% by projects and 4% by rooms year-over-year. For hotels currently under construction, excluding China, the Asia Pacific pipeline has 864 projects (179,056 rooms), down 4% by projects and 3% by rooms year-over-year.

 


Caribbean hotel performance: CBRE’s 10th edition of its Caribbean Trends in the Hotel Industry report stated a 10.2% increase in GOP during 2015. This is the fourth consecutive year that Caribbean hotels have seen a double-digit increase in GOP. “Two major events impacting the Caribbean hotel industry are the reestablishment of diplomatic relations between the United States and Cuba and the spread and potential impact of the Zika virus,” said Scott Smith, managing director, CBRE Hotels’ Consulting. “Each will affect the region and hospitality industry differently and to different degrees.”

 


French hotel performance: Deloitte reported that French hotel occupancy dropped “steeply” in all categories, particularly in more upscale segments. Luxury hotels recorded a 15% drop in RevPAR in July, but year-to-date results are still slightly better than last year (up 2.1%). All other categories recorded a decline in performance, both in July and year-to-date.

Download the full report

 


Onefinestay CEO resigns: Greg Marsh, chairman and CEO of Onefinestay, resigned. Co-founder Evan Frank, former vice president for the Americas, will replace Marsh as CEO, while Keyvan Nilforoushan, vice president for Europe, was named deputy CEO.

Read more at Business Travel News

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