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b.courtin

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  • 2 min

The Indian Hotels Company wins the legal battle around the Taj brand

🏦 On March 19, India's highest court ruled in favor of Indian Hotels Company Ltd (IHCL) led by Puneet Chhatwal, confirming IHCL's exclusive rights to the Taj brand and related brands under the Trade Marks Act of 1999. The court cited the brand's establishment in 1903 by Jamsetji Nusserwanji Tata at the Taj Mahal Palace in Mumbai, which still operates and whose GM, Ritesh Sharma, won the Hospitality Award for Best Luxury Hotel Director in 2023. This prevents other hotels from using the Taj Hotels brand, particularly in major regional cities of the Indian subcontinent.
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  • 3 min

Dalata Hotel Group Considers Partial or Full Sale

🏨 Dalata Hotel Group, founded in 2007, operates 56 hotels in the UK and Ireland, with expansion into Europe. The company, traded on Euronext Dublin and the London Stock Exchange, with 30 owned properties valued at €1.7 billion, reported €652 million in revenue for 2024 and €234.5 million in adjusted EBITDA. Despite this, its share price of around €5.50 values the group at €1.2 billion, which the board believes is undervalued. Options such as a sale, merger, or private equity investment are being considered, advised by Rothschild & Co. Dalata seeks to reach 21,000 rooms by 2030, an 80% expansion, with 1,600 rooms already in development. In 2024, four new Maldron hotels opened, and Dublin's RevPAR for 2025 is expected to be 2.5% higher than Q1 2024.
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The management of Irish group Dalata is considering a partial or total sale

🏨 Dalata Hotel Group, founded in 2007, operates 56 properties, including 30 owned hotels valued at €1.7 billion, and 23 leased hotels. In 2024, sales reached €652 million with adjusted EBITDA of €234.5 million and €173.2 million post-rental. Share price undervalued at €5.50, valuing the Group at €1.2 billion. Aiming for 21,000 rooms by 2030, already having 1,600 in the pipeline and a strong Q1 in 2025 with like-for-like RevPAR growth of 2.5%.
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Sébastien Bazin reappointed for 3 years as head of Accor Group: “to finish the job”

🏦 Sébastien Bazin, Chairman of Accor, has his mandate renewed for another three years following the presentation of Accor's 2024 results and 2025 priorities. Bazin's focus is on five key projects: enhancing operational performance, accelerating geographical expansion in regions like Latin America, China, India, and the Middle East, finalizing the sale of Accor's 31% stake in AccorInvest within 12-18 months, transforming Ennismore into a top luxury hotel group, and enhancing talent management. The renewal reflects confidence in his leadership, marked by post-COVID growth with significant increases in gross margin, net profit, and royalty value.
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Accor Group announces its definitive exit from AccorInvest

🏦 Jean-Jacques Morin from AccorInvest is set to sell Accor's 31% stake within 18 months as confirmed by Sébastien Bazin during the financial results presentation. AccorInvest has a portfolio of around 700 hotels and the sale is seen as an opportunity after the company's post-COVID revival. The sale proceeds will predominantly benefit shareholders, with a commitment to return approximately €680 million annually and 90% of the proceeds earmarked for dividends or share buybacks. The remaining funds will be used for debt reduction.
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  • 2 min

Accor’s 2024 results confirm the group is on the right track

🏦 Accor's Luxury & Lifestyle division sees double-digit growth, with the Luxe & Lifestyle division closing in on the Premium Midscale Economy division's lead. In 2024, Accor's gross operating profit hit a record €1.12 billion, a 12% increase from 2023. The group opened approximately 280 hotels and improved margins on management and franchise contracts. The Luxury & Lifestyle division's current EBE was €427 million, up 21% from 2023, while the PME division's EBE was €809 million, an 8% increase. Net profit was €610 million for 2024, slightly down from €633 million in 2023. Each new room added to the portfolio has seen a 90% increase in value over five years, against a 12% volume growth.
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2024 review: Covivio Hotels continues its growth and transformation

🏨 Covivio Hotels' portfolio, including 283 hotels and 39,477 rooms across 12 countries, valued at €6.439 billion, achieved a 1.5% increase in value and produced revenue growth of +7.2% like-for-like. In France, Italy, and Spain, the hotel asset value grew by +2%, +4.8%, and +3.4%, respectively. The portfolio yields an average return on assets of 6.1%, with long-term leases averaging 11 years. Recurring net income rose by +8.1% to €258.1 million in 2024. A restructuring deal with AccorInvest involved nearly €800 million and the group signed disposals totaling €455 million at a margin of +4%. New acquisitions include a €81 million hotel in Tenerife.
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  • 3 min

IHG Hotels stays in the growth race with the acquisition of Ruby Hotels, its 20th brand

🏨 InterContinental Hotels Group (IHG) acquired Ruby Hotels for €110 million, adding 20 properties and nearly 3,500 rooms to its inventory. Ruby Hotels, founded in 2013, has locations in major European cities and plans for 10 more projects totaling 2,235 rooms. IHG aims for Ruby Hotels to have over 120 properties in 10 years and 250 in 20 years, with franchise fees from Ruby expected to hit $8 million by 2028 and $15 million by 2030. Hyatt and Hilton have also made significant acquisitions, with Hyatt purchasing Playa Hotels & Resorts for $2.6 billion and Hilton acquiring Graduate and Sydell Groups for university campus and lifestyle brand expansion. Marriott added 10,500 rooms through a marketing agreement with Sonder.
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