More opposition to ESA deal: Shareholder advisors Institutional Shareholder Services Inc. and Glass Lewis & Co. have urged Extended Stay America investors to oppose the US$6 billion acquisition by Blackstone Group and Starwood Capital Group because the terms undervalue the company due to the pandemic. Blackstone and Starwood agreed to acquire Extended Stay in March for US$19.50 a share, a 15% premium. Six investors who collectively own more than 14% of the shares, have separately stated they are concerned about the deal terms. Extended Stay representatives came out with a statement expressing disappointment in the latest opposition.
Nepal giant growing in India: Nepal’s CG Corp Global is in advance talks to acquire a publicly-listed hotel brand in India that both owns and operates its properties, a top company official has said. It also plans to add 26 new managed hotel properties in the country expected to be operational in 2022. “We are in the process of acquiring a well-known brand of a listed hotel company… It will give us a much bigger bandwidth in the hotel business than we currently have,” CG Corp Global Chairman Binod Chaudhary said.
WOL expands in Saint-Tropez: French luxury hospitality firm Way of Luxe (WOL) have acquired two villas at Ramatuelle, in the Gulf of Saint-Tropez : the Mas de Galassa and the villa La Bohème. These two villas add the group’s existing offer, which includes the villa The Source at St. Barts and two chalets at Val d’Isère, the Black Pearl & The White Pearl.
Oakwood grows in Bangkok: Oakwood, a global leader in serviced apartments, signed a new management agreement with Chaopraya Mahanakorn Public Co. Ltd. for the management of the group’s eighth Oakwood branded property in Thailand – Oakwood Suites Tiwanon Bangkok. This comes close on the heels of the simultaneous openings of Oakwood Premier Tonglu, China and Oakwood Hotel & Residence Bangkok, Thailand, all within the month of May. The new development is slated to open in the third quarter of 2021.
The Ascott offers telehealth: CapitaLand’s wholly owned lodging business unit, The Ascott Ltd, said Friday it is the first hospitality company in the world to offer its guests global access to a comprehensive suite of telehealth, telecounselling and travel security advisory services. In a global partnership wuth health and security services company International SOS, Ascott will provide these complimentary services as part of its enhanced ‘Ascott Cares’ commitment to improve the overall wellness and safety of its guests. Starting June 1, 2021, the services will be available to Ascott’s guests across nearly 200 properties in 86 cities and 27 countries. Ascott’s guests who require telehealth assistance or telecounselling can call the property’s front desk from their apartments, to be connected to International SOS’ Assistance Centres.
Jamaican hotel icon passes: Ernest ‘Ernie’ Smatt, the tourism pioneer who played a huge role in the early development of the sector in Ocho Rios, Jamaica, died Thursday in Miami, Florida. He was 88. He planted a foothold in the tourism business in Ocho Rios in the 1950s with Shaw Park Beach Hotel and Spa. He went on to develop and operate other local hotels and restaurants. The news comes following the January passing of another Jamaica-based hotel icon, Gordon ‘Butch’ Stewart, founder of Sandals and Beaches Resorts.