Crown investigated for possible money laundering: Australian casino operator Crown Resorts confirmed that its flagship Melbourne venue is being investigated for possible breaches of anti-money laundering and counter-terrorism financing laws. Through an official statement, the company stated that “the potential non-compliance includes concerns in relation to ongoing customer due diligence, and adopting, maintaining and complying with an anti-money laundering/counter-terrorism financing program.” If the alleged breaches are proven, it could result in Crown Resorts, which also casinos and Perth and is building another in Sydney, receiving a six-digit fine and facing the potential loss of casino licenses.
Radisson Individuals: Radisson Hotel Group’s new brand, Radisson Individuals, is a conversion brand for independent hotels that may want to remain independent or are considering transitioning to one of Radisson’s core brands. The company says it offers a value proposition for local, regional hotel brands looking for additional distribution channels or co-branding options. Hotels wishing to join the new brand will undertake a compliance assessment focusing on four parameters: health and safety compliance; online index evaluated through their global review index; compliance with fire and life safety; and ability to connect to the group’s main operating systems. A number of hotels have already joined Radisson Individuals in the U.K. and Asia with additional properties in discussions in Italy, Germany, Russia and elsewhere.
Preferred touts independent model: New York-based Preferred Hotels & Resorts has released a report (and video) outlining how independent hotels represented within its brand portfolio significantly outperform those affiliated with a major chain – both in banner years and times of crisis. The report, released in partnership with its sister division, PHG Consulting, highlights that independent hotels in the upper upscale and luxury markets have consistently outperformed those affiliated with franchise brands in both RevPAR penetration growth and ADR over the past 10 years. The study further shows that independents affiliated with Preferred have outpaced the franchises during the height of the global COVID-19 pandemic, leading by nearly 10% in terms of occupancy and outperforming in terms of RevPAR at a rate of 187%.
L.A. pod hotel startup closes US$2M seed funding: Los Angeles-based startup Stay Open, a pod hotel and co-living company, has closed its US$2 million seed round funding. The round was led by a European family office which also invested in the company’s inaugural San Diego project – the conversion of a Budget Rent a Car facility into a 240-plus room hotel. The company’s hotels and residences consist of private modular rooms each with four to eight private sleeping pods, high-end shared restrooms, large common areas, F&B outlets and locally inspired amenities. Private rooms and family rooms with the option of private bathrooms are also available.
Kempinski names new chief financial officer: Kempinski Hotels appointed Peter Fiedler chief financial officer and board member. Fiedler will be in charge of corporate and hotel finance, managing of financial resources, loss prevention, and compliance. He brings more than 40 years of experience in finance and controlling and has been focusing on business consulting, investment and board assignments on various hotel development and management projects in the last decade.
Hutton Brickyards, developed by Salt: New York-based Salt Hotels’ next hospitality project is in Hutton Brickyards in Kingston, New York. The 31-room hotel has been restored and is the site of the region’s last architecturally intact brick manufactory, Hutton Brickyards. The studio of Kristina Dousharm Architecture designed the 300-square-foot rooms and collaborated on interiors with Salt Hotels Chief Creative Officer Kevin O’Shea. The hotel’s covered restaurant will rely solely on wood-burning heat sources, including lumber sustainably retrieved from the grounds.The hotel is set to open in 2021.