Minor moves on NH. NH Hotel Group presented its first-half 2018 earnings, led by year-on-year growth of 3.9%. It also stated that Minor International Group has asked the Spanish securities market regulator to authorize the launch of a public tender offer for 100% of the shares of NH Hotel Group at €6.40 per share, €6.30 after payment of the announced dividend. Overall group revenue was €29.6 million higher year-on-year at €785.5 million and RevPAR growth of 2.2%. The Group continues to show solid growth in its main markets with Benelux and Italy particularly strong, posting like-for-like revenue growth of 7.4% and 5.7%, respectively.
Firing at HGV. Hilton Grand Vacations, the timeshare spinoff from Hilton Worldwide Holdings, on Tuesday said it is searching for a new CFO after firing Chief Financial Officer James Mikolaichik, stating he exhibited behavior violating company rules. Mikolaichik was terminated effective Friday “for conduct and behavior not consistent with the company’s policies,” the company said in a statement. The firing “was not related to any issues involving the company’s business, strategy, operations, performance, financial reporting or internal controls.”
Deal for Ireland operator? Apollo Global Management is in exclusive talks to buy the hotel group Tifco, Ireland’s second largest hotel operator with 18 hotels, from Goldman Sachs. The US private equity firm is believed to have beaten a rival bid from TPG Capital. Tifco properties trade mostly under the Crowne Plaza and Travelodge brands. The portfolio, reportedly valued between €500m and €600m, also includes development sites for two new venues in Dublin. The company has a large number of management contracts with high-profile hotels such as the Heritage Golf Resort at Killenard in Co Laois and the Metropole in Cork.
Crescent growth. The 322-room Sheraton Gunter Hotel San Antonio is now being managed by Fairfax, Virginia-based Crescent Hotels & Resorts.
More service charges. MGM Resorts International will implement by the end of August a 20% service charge at all spas and salons inside the company’s Las Vegas Strip properties, according to the Las Vegas Review Journal. Five MGM properties have already implemented the policy that the company said essentially replaces tips.