US reopening to international travelers: Big news out of Washington, D.C., will be a boon to hoteliers: The White House said it will allow vaccinated international travelers into the U.S. starting November 8, lifting a ban on visitors from the EU, U.K. and other countries regardless of the reason. The news ends a 19-month freeze on inbound travel.
Marriott leaves Vegas deal: Marriott International has pulled out of a Las Vegas Strip development project that was sold in the February to Jeffrey Soffer’s Fontainebleau Development. Marriott signed a deal in 2018 with the previous developer and the long-stalled property was supposed to open as a JW Marriott in 2023. The developer said the hotel will be operated by Fontainebleau Development. The 60-plus-story mega-project has come under new ownership three times in the past decade.
Rockbridge sells extended-stays: Columbus, Ohio-based developer Rockbridge has completed sales in the hot extended-stay segment, the Homewood Suites Vancouver-Portland in Vancouver, Washington (104 keys), and the Homewood Suites Portland Airport in Portland, Oregon (105 keys). The buyer’s name was not divulged and both properties are unencumbered by management. JLL’s Hotels & Hospitality Group represented the seller.
Accor calls out its residential assets: With branded residences becoming a stronger growth vehicle, Accor has launched a dedicated website to showcase its collection of 70-plus such properties in the sector. Accor’s Raffles London at The OWO and The OWO Residences by Raffles is among the more high-profile assets coming to its portfolio, while its lifestyle Ennismore group currently has seven lifestyle branded residential projects open with another 17 under development, including projects under brands such as Mondrian and SLS. The last decade has seen the number of branded residences increase by 230%, adding more than 50,000 units across 356 schemes, according to Savills, while Knight Frank research revealed that 39% of residential real estate buyers would be willing to pay a premium for a hotel branded property.
Bali reopening: After 18 months, Bali reopened last Thursday to foreign tourists, but recovery is expected to be gradual as inbound international flights are slow to ramp up. Reports suggest bookings picking up by foreign visitors, predominantly Europeans, for November arrivals. Indonesia said residents of 19 countries are eligible for entry, including China, India, Japan, South Korea and several European and Gulf countries. Visitors must be vaccinated and must spend their first five days in quarantine. Indonesia also requires medical insurance coverage of up to US$70,000 for COVID-19 treatment.
Sonesta growth: Sonesta International Hotels Corp. on Friday said it had signed 15 new franchise agreements during the six-month period ending June 30, 2021, adding more than 1,000 guest rooms to its portfolio. The new hotels include 11 Americas Best Value Inns, two Knights Inns, one Canadas Best Value Inn, and one Red Lion Inn & Suites. Earlier this year, Sonesta acquired RLH Corp. and more recently launched domestic franchising of four Sonesta namesake brands. The company currently has some 1,200 properties with about 100,000 guest rooms across 15 brands in eight countries.
AHLA trying to save jobs: As part of its lobbying effort to support the Save Hotel Jobs Act legislation currently before the U.S. Congress that would direct 100% of its funding to keep hotel workers on the payroll, The American Hotel & Lodging Association report on Friday that Miami hotels are projected to lose US$830 million in business travel revenue in 2021, down 62.6% compared to 2019 levels. Florida hotels stand to lose more than US$5.3 billion, while hotels across the U.S. are projected to end 2021 down more than US$59 billion in business travel revenue compared to 2019, after losing nearly US$49 billion in 2020.