Breaking news on development, deals and more.
Accor doubles up in Japan. Accor reported it will double its presence in
Japan because of a strategic partnership with asset manager Japan Hotel Reit Advisors
to renovate and rebrand the Daiwa Resorts portfolio into Grand Mercure and
Mercure hotels. The deal will add 23 properties and over 6,000 rooms.
Conversion of the hotels will occur throughout 2024.
Radisson Blu trades in Biarritz. Groupe Annie Famose (GAF) and
investment fund Extendam have acquired from JMA Hôtellerie the 150-room Radisson
Blu hotel in Biarritz, France. GAF will operate the hotel, adding to its some
40 assets in locations such as Saint-Tropez, Megève, Courchevel, Avoriaz and
Saint-Barthélemy. Extendam manages a portfolio of 300 hotels in France and
Europe. The price paid for the hotel was not disclosed.
Hilton grows in Northern Ireland. Through a franchise
agreement with Andras House, Hilton will expand its Tapestry Collection by
Hilton brand to Northern Ireland with the opening of the 83-room Marcus Hotel
Portrush, Tapestry Collection by Hilton in the popular seaside town of Portrush.
Andras House said it plans to invest £11 million in property improvements
starting in September.
Ashford preliminary earnings. Ashford Hospitality Trust reported
preliminary 2Q23 results and said it expects occupancy of approximately 75% for
the 2Q23 with ADR of approximately $191, resulting in RevPAR of
approximately $144. This comparable RevPAR reflects an approximate
increase of 7% compared to the second quarter of 2022. Excluding the 19
hotels secured by loans that the company did not extend during the quarter,
Ashford’s results for the second quarter would have been occupancy of
approximately 76% with ADR of approximately $197, resulting in RevPAR
of approximately $150.
Meliá grows in Vietnam. Spain’s Meliá Hotels International
has inked an agreement with Hanoi Halong Tourism Co,, a member of IDS Equity
Holdings, for a new hotel in Ha Long, Vietnam, set to debut in 2027 with 240
rooms and 302 serviced apartments spread over two towers. Meliá now has 23
hotels throughout the country, including operating and pipeline.
Swiss-Belhotel, CTG tie-up. Swiss-Belhotel International, Hong
Kong, has signed a memorandum of understanding with CTG Hotel, part of the
largest tourism enterprise in China - China Travel Group, to manage properties
in China. The duo is exploring dual branding business cooperation and
diversified business development both in China and international markets. CTG
Hotel has a portfolio of over 200 owned or managed properties.