Accor investing in India? Perhaps in response of the noteworthy growth of Indian budget brand Oyo, Accor is reportedly in talks to invest up to US$50 million for a significant minority stake in India-based budget brand Treebo Hotels, according to multiple reports. The deal would give Accor the rights at a later date to become the majority owner of the brand founded in 2015. The fast-growing budget brand with about 500 hotels under sub-brands Trip, Trend and Tryst has so far raised more than US$55 million, according to LiveMint.
Thomas Cook expands: Thomas Cook Hotel Investments has acquired a further three properties, including one of the company’s flagship hotels, Casa Cook Kos in Marmari, Greece. The acquisitions mean that the fund now has nearly doubled its portfolio in just over a year to nine locations. The properties are the 252-room Sunwing Arguineguin hotel in Gran Canaria, Spain, the 100-room Casa Cook Kos and a greenfield plot on Kos, on which the company intends to build a 250-room Cook’s Club for next summer. TCHI was launched in March 2018 with five hotels and the new additions take the total fund to 2,500 rooms including those under development. A pipeline of further hotel acquisitions has been identified in line with the intention for the fund to comprise 10-15 hotels by 2021.
Renaissance campaign: Marriott International has launched a new marketing campaign for its Renaissance Hotels brand call “Discover This Way.” The brand with over 160 hotels in more than 35 countries will also begin to introduce a new visual identity for the first time in nearly eight years, which will reflect what Renaissance Hotels offers today: “a sense of clever theatricality and an open invitation to experience something a little unexpected during guests’ travels.” Hotels will collaborate with local businesses and personalities as This Way partners who highlight the style, eats and beats of the destinations.
Taj grows in Agra: The Indian Hotels Company Ltd. (IHCL) announced a deal to manage a 239-room Taj-branded hotel in Agra, India, owned by Sincere Developers Pvt Ltd. With this addition, IHCL will have two hotels, one under the Taj and one under the SeleQtions brand in the city of Agra.
Hilton gets a Lyft: Hilton has announced a partnership with ride-sharing firm Lyft. The program allows Hilton Honors members to earn points whenever they ride with Lyft. Later this year members will also be able to redeem Hilton Honors Points for Lyft credits. Hilton Honors members will earn 3 points per US$1 spent on Lyft rides and 2 points per US$1 on Lyft shared rides, for a total of up to US$10,000 in Lyft spend per year.
Hyatt doubles down in Canada: Hyatt Hotels Corp. announced that more than 20 new hotels are expected to open in Canada by the end of 2022, driving growth in the country by 50%. The newly announced properties include three hotels in downtown Niagara Falls, Ontario, expected to open in 2022: a dual-branded Hyatt Centric Niagara Falls and Hyatt Regency Niagara Falls project, with 150 guestrooms and 350 guestrooms, respectively, and the 200-room Hyatt Place Niagara Falls.