HOTELSMag.com - 10 Minutes News for Hoteliers - Page 40

2 min

Briefs: Tribute Portfolio arrives in Brazil; Avani Hotels in Singapore

🏖️ Marriott International partners with Fametro Group to convert Tropical Hotel Manaus, Brazil into a Tribute Portfolio Hotel, marking the brand's entry into Brazil. The hotel, opened in 1976, will have a phased reopening at the year's end. The initial phase includes a wave pool, gym, spa, sports courts, kid’s center, and meeting rooms. Future phases will add a restaurant with Rio Negro views, an orchidarium, a chapel, and a pier. Tribute Portfolio has about 120 hotels in 25 countries. Minor Hotels is introducing Avani Hotels & Resorts to Singapore by Q1 2027. The 200-key, 13-story upscale hotel on 24 Peck Seah Street is a partnership with Kajima Development and Alwathba Investment. Avani, launched in 2011 with 42 properties in 24 countries, aims for 100 hotels by 2026. Pandox AB acquires three London aparthotels from Starwood Capital affiliates for £230 million. The 503-key acquisition will add £34 million in revenue and £17 million in net operating income annually. The hotels, operated by Axiom Hospitality, join Pandox’s existing London portfolio. The Lodge at Jackson Hole, Wyoming, completes a $8-million renovation by Athos Capital Partners. The 154-key hotel offers pools, spa, dining, a fitness room, over 10,000 square feet of

2 min

Hilton expands Caribbean & Latin America presence with dual-branded hotel in Guyana

🏨 Hilton announced its entry into Guyana with a dual-branded hotel in Georgetown, featuring the Hilton Georgetown and DoubleTree Suites by Hilton Georgetown. Owned by Assets Group and managed by Hilton, the properties total 411 rooms and are part of an oceanfront mixed-use development. The 11-story Hilton Georgetown will have 253 rooms, while the DoubleTree Suites will include 158 suites. Amenities include a Social Club, a fitness center, spa, and a conference center with 25,900 square feet of space. This move is part of Hilton's expansion in the CALA region, where it has 225 existing hotels and plans to enter eight new countries. Hilton's portfolio in the region has tripled over the past decade, adding nine countries and seven brands.

5 min

As market conditions change across Europe, investors seek out new opportunities.

Investors in hotel assets are all-in on Europe, but it’s not going to come cheap. That was just one of the nuggets of information that came out of CBRE’s 2024…

2 min

Briefs: Autograph Collection opens in Indonesia; Radisson adds in Australia

🏠 Autograph Collection Hotels, under Marriott Bonvoy, opened Cicada Resort Bali Ubud in Indonesia, featuring 20 suites and 10 pool villas with plans for 15 more rooms. Radisson Hotel Group signed Park Inn by Radisson Melbourne Carlton, its first Australian property, with an 89-room hotel set to open in Q4. The U.S. hotel industry saw occupancy rise to 66.1%, ADR to $154.80, and RevPAR to $102.30 YOY, with Houston leading in occupancy (+31.7%) and Chicago in ADR (+41.8%) and RevPAR (+51.1%). Choice Hotels' SOAR program secured its first contract for two Georgia hotels, aiding underrepresented entrepreneurs, after 28 new contracts in the previous year.

2 min

Accor renews partnership deals for over 40 hotels in Australia

🏨 Accor has renewed agreements for over 40 hotels, totaling 5,500 keys in Australia, with more than $450 million invested in renovations since 2022. Celebrating a 40-year relationship, Accor and Silversea Investments signed a long-term franchise agreement to refurbish and rebrand Novotel Sydney Parramatta to Novotel Sydney Rosehill. Trilogy Hotels manages these properties, poised to benefit from Parramatta infrastructure development and the 2026 opening of Western Sydney Airport. Sofitel Noosa Pacific Resort on the Sunshine Coast also extended its partnership with Accor. With a presence exceeding 30 years, Accor operates a network of 350+ hotels in Australia and has expanded operational support in key Pacific cities, boasting over 300 team members aiding 200+ managed hotels. Additionally, Accor's portfolio spans 19 brands and over 400 hotels across Australia, New Zealand, Fiji, and French Polynesia.

2 min

Manhattan’s occupancy, room rates strong but growth rate slows down

🏡 In Manhattan, Q1 RevPAR grew by 9.4%, slowing to a 6.8% increase in Q2 2024 compared to the previous year. Luxury hotels saw an 8.35% YOY RevPAR lift, with occupancy rising from 76.2% to 81% and ADR increasing from $535.97 to $545.79. Upscale, upper upscale, and upper midscale properties also experienced RevPAR increases of at least 5%. Lower Manhattan led neighborhood growth with a RevPAR jump of 9.6%, while Midtown South's RevPAR rose by 9.3% to $287.32. Chain-affiliated properties had a 6.9% RevPAR boost, with independent hotels surging 8.2%. Full-service hotel occupancy outperformed limited-service with 4% YOY gains.

2 min

Dusit partners with Generator and Freehand to drive global expansion

👨 Dusit Hotels & Resorts and Generator & Freehand Hotels enter strategic partnership to expand globally. Dusit's network in Asia, the Middle East, and Generator's presence in the U.S. and Europe to be leveraged. Dusit International's Siradej Donavanik sees non-aligned prospects for Thai company's development. Dusit's brand lineup includes Dusit Thani, dusitD2, Dusit Princess, Dusit Suites, ASAI Hotels, Devarana, and Dusit Collection. Dusit has 57 operating hotels, with 60 more coming and 244 luxury villas under Elite Havens. Dusit's dusitD2 Feydhoo Maldives and renovated Dusit Thani Bangkok launching soon. Generator and Freehand's portfolio holds 21 properties, with an 18% EBITDA increase YOY, aiming for $95.8 million yearly EBITDA, up 22%.

2 min

Briefs: The Hoxton arrives in Australia; InterContinental to return to Serbia

🌇 The Hoxton is opening its first Australian hotel in Melbourne's Cremorne suburb in 2027, with 198 rooms and three dining venues. InterContinental Hotels returns to Serbia with a 203-room hotel in Belgrade, set to open by the end of 2026. Le Méridien opens in Fort Worth, Texas, featuring 188 rooms, marking its first property in the city. Nuveen Green Capital finances Virgin Hotels Las Vegas with a record $190 million CPACE deal, the largest in Nevada and second-largest in the U.S.

2 min

Briefs: Anantara resort in Indonesia; Tampa Hyatt Place changes hands

🏕 Anantara Hotels & Resorts to open new Anantara Ubud Bali Resort on October 1, featuring 85 suites, pool villas, and 15 residences. LBA Hospitality and 3H Group acquire Hyatt Place Tampa Airport/Westshore, details undisclosed. IHG's dual-hotel deal in Quang Binh, Vietnam, includes 68-villa voco Quang Binh Resort and 232-room Crowne Plaza, opening in 2025. Generator and Freehand Hotels hit record EBITDA of $42.2 million in H1, targeting $95.8 million by year-end, marking an 18% and 22% year-over-year increase, respectively.

2 min

Pan Pacific Hotels adds seventh hotel to Malaysia portfolio

🏕 Pan Pacific Hotels Group (PPHG) to open its seventh hotel in Malaysia, the 368-room Gurney Bay Hotel, A Parkroyal Hotel, in Penang on September 1. The hotel, formerly Gurney Bay Hotel, will undergo phased renovations and is located near George Town, a UNESCO World Heritage site. The Penang 2030 Vision-influenced Gurney Bay lifestyle area surrounds the property, offering coastal and city views. With an all-day dining restaurant, various amenities, and a 550-person ballroom, it aims to attract guests amid the region's tourism growth. Penang's economy grew by 13.1% in 2022, and the Penang International Airport, set to be Malaysia's second largest, is expanding to a 12 million annual passenger capacity by 2028, supporting the tourist influx. PPHG manages over 50 properties globally and is expanding in Southeast Asia, with three new openings in 2023 and Malaysia targeting 36.5 million tourists by 2026.

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