LODGING Staff - 10 Minutes News for Hoteliers - Page 176

6 min

Hilton Releases Q2 2024 Results

🏡 Hilton Worldwide Holdings Inc. reported Q2 2024 results with an adjusted EBITDA of $917 million, a net income of $422 million, and a diluted EPS of $1.67, adjusted to $1.91. System-wide comparable RevPAR increased by 3.5%, with a significant 15% growth in the development pipeline compared to June 30, 2023, now totaling 508,300 rooms. Hilton acquired the Graduate Hotels brand and announced a partnership with Small Luxury Hotels of the World, adding 18,000 rooms. They repurchased 3.5 million shares, totaling a capital return of $1.774 billion year to date through August. Full-year 2024 projections include a system-wide RevPAR increase of 2-3%, a net income between $1,532 million and $1,555 million, and an Adjusted EBITDA between $3,375 million and $3,405 million, with a capital return of approximately $3.0 billion.

Aimbridge Names Christopher Tatum Full Service Division President

📅 Christopher Tatum was appointed as the new divisional president of Aimbridge Hospitality's Full Service division in Plano, Texas. He brings four decades of experience, primarily from Marriott International, to his new role where he will lead the division that includes Full Service, Evolution Lifestyle, Luxury, and Resort properties in the U.S., Canada, and the Caribbean. Prior to Aimbridge, he was the president and CEO of the Hawaii Tourism Authority and recently managed a portfolio at Davidson Hospitality.

2 min

2024 Guide to Franchising

🏨 BWH Hotels, as of March 31, 2024, boasts a global presence of 3,899 properties with 2,113 located in the U.S. The company offers a rewards program, including Best Western Rewards® and WorldHotels Rewards℠. Franchising since as early as 1946 for Best Western®, they have a variety of brands across chain scales from economy to luxury, each with specific franchising fees such as a $49,000 application fee for Aiden® and royalty rates like 5% of GRR for Best Western Premier®. The total rooms in the system across brands reach numbers like 127,209 for Best Western® and 3,185 for Aiden®.

1 min

Hotel Teatro Joins the Sage Independent Hotel Collection

🏢 Denver, Colorado—Sage Hospitality Group adds Hotel Teatro to its portfolio, managed by RLJ Lodging Trust, featuring dining outlets The Nickel and The Study. Known for a historic façade dating back to 1911, and its proximity to the Denver Center for Performing Arts, Hotel Teatro joins Sage’s collection, including The Crawford Hotel and others. The luxury lifestyle hotel houses 110 guestrooms, an art collection, Frette linens, California-style tubs, a house car, and diverse meeting spaces including a wine cellar.

2 min

IHG Partners With NGO Action Against Hunger to Combat Food Insecurity

🍴 IHG Hotels & Resorts partners with Action Against Hunger to combat global food insecurity, announced in London. Their pledge aims to impact 30 million people through their Journey to Tomorrow plan, covering over 100 countries. IHG will focus on malnutrition screening and treatment, especially in children, and raise awareness among guests, offering donations via IHG One Rewards points. This partnership complements IHG's efforts with local food banks, No Kid Hungry, OzHarvest, and Too Good To Go.

2 min

AHLA Issues Statement Following Release of NYC Revised Bill

🛏 On July 18, New York City Councilwoman Julie Menin proposed Int. No. 991, with revisions introduced on August 2 that fail to address critical issues for hotel stakeholders. The bill mandates direct employment for housekeeping, room attendance, and maintenance staff by hotel owners, prohibits subcontracting, and may force some hotels to close or be sold. The American Hotel & Lodging Association warns of catastrophic consequences, including hotel closures, mass layoffs, and damage to New York’s economy and tourism.

2 min

TownePlace Suites by Marriott Memphis Germantown Opens

🏨 McNeill Hotel Company opened the TownePlace Suites by Marriott Memphis Germantown in Tennessee, with a grand opening set for early Fall. The five-story, 111-room hotel features a restaurant, rooftop bar, fitness center, indoor pool, and 6,000 square feet of retail space. Located near Poplar and Germantown Road, it was developed by Spence Ray and Mark Layne, with McNeill Hotel Company managing. The property is part of the Thornwood mixed-use development, which includes the performance-strong Hampton Inn & Suites Memphis/Germantown.

2 min

Knowland Platform Launches User-Focused Navigation Infrastructure

💻 Knowland launched a user-friendly navigation infrastructure, with a horizontal navigation bar enhancing user experience. This update improves access to actionable insights and sales performance for customers. CEO Jeff Bzdawka highlighted the response to evolving hotel sales models and the need for efficient prospecting. The navigation is tailored to subscription levels, promoting efficiency, productivity, and platform engagement. The update previews an upcoming user platform designed to streamline sales workflows and decision-making within the competitive group business landscape.

2 min

Sonesta Adds 23 Franchised Hotels to Its Global Portfolio

🏨 Sonesta International Hotels Corporation added 23 franchised hotels with over 2,000 rooms to its global portfolio in the first six months of 2024. Notably, the expansion surpassed the total number of rooms added in 2023. The newly integrated hotels are located across various states in the U.S., including Texas, Florida, and Wyoming. Sonesta's growth is supported by a franchise system introduced in late 2021 and expanded with four new brands in 2023. Most of the new hotels participate in the Sonesta Travel Pass guest loyalty program, excluding Knights Inn locations.

2 min

Frontier and BIG Acquire and Convert Downtown Washington, D.C. Hotel

🏢 In Washington, D.C., Frontier Development & Hospitality Group LLC and Basis Investment Group acquired the 182-key Cambria Washington DC, Downtown/Convention Center, rebranding it as Hyatt Washington DC/Convention Center. The hotel, now part of Hyatt’s portfolio, will convert to Hyatt House brand after a renovation set for completion in summer 2025. Located in the Historic Shaw District, the hotel features amenities like a fitness center and rooftop terrace. The acquisition aligns with Frontier's strategy for high-quality assets in prime locations.

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