IHG 2016 results: InterContinental Hotels Group released its 2016 preliminary results. Global RevPAR was up 1.8%, with Americas RevPAR up 2.1%. Within the region, U.S. RevPAR was up 1.8%. Underlying operating profit increased by almost 10% to US$702 million.
U.S. construction pipelines: According to Lodging Econometrics, at year-end 2016 the five markets with the largest hotel construction pipelines by project count are: New York with 192 projects/30,541 rooms; Houston with 169 projects/18,373 rooms; Dallas with 140 projects/17,291 rooms; Nashville with 121 projects/14,873 rooms; and Los Angeles with 111 projects/18,723 rooms. Since the fourth quarter of 2011, New York has continuously had the highest project count of any market in the Pipeline while Houston has had the second largest for the last thirteen quarters.
Vail to purchase Stowe: Colorado-based Vail Resorts said it has an agreement to buy Stowe Mountain Resort in Vermont for US$50 million. The purchase, from a subsidiary of American International Group, will be Vail Resorts’ first mountain resort on the East Coast. Vail Resorts is acquiring all of the assets related to the mountain operations of the resort. The Stowe Mountain Lodge, Stowe Mountain Club, Stowe Country Club and certain real estate owned and held for potential future development will be retained by MMC.
Women-only for Langham? In an interview with Arabian Business, Langham Hotels CEO Robert Warman said the company is in talks with a property owner in Doha to open a resort exclusively for women, which would include the world’s largest spa.
Arabian Business has the story
Adelman on Japan casino: Las Vegas Sands Corp. CEO Sheldon Adelson says a resort hosting casinos could cost up to US$10 billion to build in Japan, which recently legalized casino gambling. Adelson made the remarks at an investor conference in Tokyo.
Autograph in Pittsburgh: Concord Hospitality plans to open Pittsburgh’s first Autograph Collection Hotel. Construction began on the 167-room Oaklander Hotel last month.