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b.courtin

82 posts

B&B HOTELS Approaches 1,000 Locations with 12% Revenue Growth and New Brand Expansion

🏨 Fabrice Collet, after a decade as CEO and Chairman, is leaving B&B HOTELS. The company is nearing 1,000 hotels across 19 countries, with revenue up 12% this year. A new brand, B&B Home, targets 60 properties by 2030. Goldman Sachs, owner since 2019 after a £1.9 billion purchase, seeks to sell the group, aiming for a valuation twice the acquisition price, with Morgan Stanley facilitating the sale.
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Middle East Hotel Sector Faces Crisis: 532,000 Rooms Impacted by Plummeting Visitor Numbers and Cancellations

📍 Saudi Arabia and Abu Dhabi have launched ambitious hotel investment programs, engaging major international groups like Accor, which operates about 290 hotels in the Middle East, including 85 in the UAE and 50 in Saudi Arabia. Accor's Middle East operations contribute 5% to its total fees. Amid regional tensions, the Fairmont The Palm in Dubai was affected by Iranian fire, causing minor injuries. Visitor numbers to the region are expected to drop, with many cancellations across 3,400 hotels.
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