LODGING Staff - 10 Minutes News for Hoteliers - Page 172

11 min

Accor Shares First Half of 2024 Growth Outlook

📈 Accor's H1 2024: 146 hotels opened with 24,000 rooms, resulting in 4.1% net growth. Total portfolio: 838,722 rooms, 5,682 hotels, and a 218,000-room pipeline. RevPAR up 4% in the Premium, Midscale, and Economy division; Luxury & Lifestyle division saw an 8% increase. Group revenue reached €2,677 million, an 11% rise over H1 2023. EBITDA improved by 13% to €504 million. Strong performance in the Middle East, Africa, & Asia-Pacific regions, with double-digit RevPAR growth. Americas region recorded 12% RevPAR growth; Brazil leading with strong event calendar impact. Accor's net profit for H1 2024 was €253 million. Full-year 2024 guidance anticipates RevPAR growth of 4-5%, network growth of 3-4%, and EBITDA of €1,095-€1,125 million. Net financial debt stood at €2,934 million as of June 30, 2024. Dividend of €1.18 per share distributed, totaling €286 million. Medium-term outlook (CAGR 2023-27) includes 3-4% annual RevPAR growth, M&F revenue growth of 6-10%, and 9-12% EBITDA growth. Strategic sales

1 min

CoStar: U.S. Hotel Industry Reports Higher Weekly Performance

🏨 U.S. hotel industry reported a performance increase for the week of July 14-20, 2023, with occupancy at 73.5% (up 1.0%), ADR at $165.91 (up 2.4%), and RevPAR at $122.02 (up 3.4%). The record highest weekly RevPAR was seen, with Houston leading the surge, showing occupancy at 82.2% (up 29.6%), ADR at $135.65 (up 20.3%), and RevPAR at $111.49 (up 56.0%), attributed to Hurricane Beryl. In contrast, San Francisco's RevPAR dropped by 14.1%, and Seattle's fell by 12.4%.

2 min

LivAway Suites Opens First Hotel Near Salt Lake City, Utah

🏠 LivAway Suites opened its first hotel in the Salt Lake City area, West Jordan, Utah, in June 2023. The hotel, developed by West77 Partners, features 126 suites and was completed over a 12-month period, under budget. It targets various guests like construction workers and traveling professionals. LivAway has eight recent groundbreakings and plans for 20 more locations within a year, aiming for over 50 hotels by 2026. The brand emphasizes economy extended-stay lodging with a high return on investment.

3 min

This Week’s Comings & Goings

📦 Bob Gilbert retired from HSMAI after 30 years of leadership. Rajit Sukumaran expanded his role at IHG in East Asia & Pacific, while Vivek Bhalla was promoted within IHG. Jon Gustin became VP of Operations at Commonwealth Hotels, with over 15 years' experience. Angela Showley was named VP of Marketing and Revenue at Kessler. Marriott appointed Sam Basu as area GM in Puerto Rico and GM of The Ritz-Carlton, San Juan. Anton Moore returned to EDITION Hotels as GM for The Lake Como EDITION, opening in 2025. Alex Drown became Director of Sales at The Newman, opening in spring. Marc Boussaire was named Executive Chef at Viewline Resort Snowmass. James Cassidy took the role of Executive Chef at All Water Seafood & Oyster Bar, Hotel 1000. Arturo Elias became Chef de Cuisine at Conrad Washington, DC's Estuary Restaurant. Reyn Nishizuka was appointed Chef de Cuisine at The Westin Hapuna Beach Resort. Oliver Riding became GM of Camelback Golf Club at JW Marriott Scottsdale Camelback Inn Resort & Spa. Hotel Per La appointed Kayleen Morgan, George Unseld, and Joey Roacho to its leadership team. Dorado Beach, a Ritz-Carlton Reserve, added Christian Clair, Roberto Picado, and Sagar Gaikwad to its culinary team. Highgate's Royal Lahaina Resort

1 min

AHLA Launches Hospitality Law Database

🏨 AHLA launched its Hospitality Law Database, providing hoteliers with access to state and local laws impacting hotel operations in all 50 states, the District of Columbia, and the top 25 U.S. hotel markets. The tool is designed for hotel owners, managers, HR professionals, and lawyers, offering easy navigation and compliance support. AHLA’s advocacy efforts are complemented by this new resource aimed at fostering industry growth and employee welfare. Access is available to members and the public.

2 min

InterContinental Hotels & Resorts Partners With Timeshifter

🏨 InterContinental Hotels & Resorts partners with Timeshifter to offer personalized jetlag plans via an app, aiming to enhance guest experiences with “Intentional Flexibility” initiatives. The concept includes tailored jetlag mitigation for guests' chronotypes and travel specifics, a collaboration with designer Isabelle Sjövall for guestroom design, and scientifically backed dishes to counter travel fatigue. Over 220 InterContinental properties worldwide will adopt these features, aiming to reenergize travelers and address common travel challenges.

1 min

Marcus & Millichap Announces Sale of Two South Carolina Hotels

🏦 Marcus & Millichap sold two Country Inn & Suites in Orangeburg and Summerville, South Carolina, for $14,500,000. The 81-room Orangeburg property, built in 2007, features an indoor pool, hot tub, fitness center, and is near educational institutions and the Regional Medical Center. The Summerville property, constructed in 2004, is an 84-room hotel with an outdoor pool and fitness center, located close to Boeing, Volvo, Charleston Southern University, and 30 minutes from Downtown Charleston.

1 min

CoStar: U.S. Hotel Industry Improves Monthly Performance

🏨 In June 2024, the U.S. hotel industry saw occupancy at 69.6% with no change from June 2023, while ADR rose by 1.5% to $161.30, and RevPAR increased by 1.5% to $112.33. New York City led the Top 25 Markets with the highest occupancy (up 2.5% to 87.8%), ADR (up 4.4% to $317.91), and RevPAR (up 7.0% to $279.08). The lowest occupancies were in New Orleans (56.9%) and Phoenix (63.4%), with Top 25 Markets outperforming others in occupancy and ADR.

2 min

IRHG Names Katharine Ames as Chief Marketing Officer

🏠 Katharine Ames appointed as Chief Marketing Officer at The Indigo Road Hospitality Group in Charleston, South Carolina. Ames joined the company in 2021 and reports to founder Steve Palmer. Prior to IRHG, she spent eight years at a boutique agency, eventually becoming vice president. IRHG, founded in 2009, has expanded to 35 restaurants in 14 markets and six hotels with four more in development. Ames's role includes overseeing marketing, internal communications, public relations, programming, branding, partnerships, and social media.

2 min

Sandpiper Hospitality Manages ECHO Suites Spartanburg

🏨 Sandpiper Hospitality named manager of ECHO Suites Extended Stay by Wyndham Spartanburg in South Carolina, the first in its brand, opened earlier this month. The hotel offers 124 suites with kitchenettes, near Westgate Mall, Carolina Panthers Training Camp, and downtown Spartanburg. Amenities include a gym, laundry, and EV charging. Sandpiper manages over 10 brands and added 15 properties in the past year, including locations in Colorado, Nevada, Georgia, San Francisco, Anaheim, and Washington D.C.

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