Accor reports revenue: AccorHotels of France reported Q3 2017 revenue results: Revenue increased 6.4% to €504 million (US$595.9 million). Its HotelServices unit, which operates 4,209 hotels (604,000 rooms) under franchise agreements and management contracts at the end of September 2017, reported a 3.5% increase in revenue like-for-like to €442 million (US$522.6 million). The company said it saw growth in most regions except South America.
IHG results: InterContinental Hotels Group (IHG) released Q3 2017 trading results, saying global RevPAR was up 2.3% and net rooms increased 4.1% year over year.
Blu in Venice: Carlson Rezidor Hotel Group signed a management agreement of a hotel in Venice’s San Marco district that will become the Radisson Blu Hotel, Venice San Marco. It’s expected to open by year-end 2019.
Priceline invests in China: Meituan-Dianping, a Chinese e-commerce platform with 280 million users, raised US$4 billion from investors including US$450 million from Priceline, a new investor.
Marriott general counsel: Marriott International appointed Rena Hozore Reiss executive vice president and general counsel. She most recently was corporate secretary at Hyatt Hotels, and before that served in Marriott’s law department. Reiss replaces Ed Ryan, who recently announced his retirement.
Margaritaville in the DR: Karisma Hotels plans a new Margaritaville all-inclusive project in Punta Cana, Dominican Republic. It joins two other Karisma-developed resorts in the area with El Dorado and Sensimar brands, for an investment totaling US$300 million. The 350-room Margaritaville will begin construction in 2018.
M&C on defensive: Directors of Millennium & Copthorne Hotels defended their decision to support a takeover offer totaling US$2.4 billion from the company’s majority shareholder, City Developments Limited. Minority shareholders say the bid lowballs the company’s value.
Mandalay Bay update. MGM’s Mandalay Bay casino-resort in Las Vegas has been ordered by a judge to preserve photos, surveillance video and gambling records of the shooter and notes by investigators. The court approved a temporary order sought by lawyers for a California woman who was critically wounded at the country music festival on October 1 when a man perched inside a window on the 32nd floor of the hotel shot and killed 58 at the nearby concert.