The latest news about M&A, development, new data and more.
Bunkhouse growth. Standard International’s Bunkhouse brand will open the
47-room Hotel Daphne in Houston in early 2025. It marks the Austin, Texas-based
company’s second property in Houston as it will open Hotel Saint Augustine in
Montrose's Museum District in the fall of 2024. In partnership with developer
RGA Ventures, Bunkhouse has enlisted Blanchard A+D, based in Massachusetts, and
Darwin Architecture, based in California, as the architects of record for this
five-story new build.
Two Belgian hotels sold. Paris-based investment company Extendam has acquired two
Belgian properties: the 122-room Novotel Mechelen Centrum and the 92-room ibis
Namur, in a joint venture with French owner-operator Atalante Hotels, for an
undisclosed sum. The Novotel Mechelen will undergo a common area renovatin and
the Ibis Namur will undergo a major renovation.
JLL’s APAC data. Hotel occupancy levels in the Asia Pacific
(APAC) continue to rise steadily following the reopening of all key markets,
the ramping up of air capacity, and a strong pick up in conferences and events
around the region, according to JLL’s Hotel Operators’ Sentiment Survey 2023, conducted
with over 360 hotel operators across APAC. In markets such as Bali, Phuket, and
Singapore, ADR have surpassed pre-pandemic levels by over 20%, primarily driven
by leisure tourists. The survey indicates that 77% of hotels in APAC anticipate
a further rise in occupancy levels in 2024, particularly in the upper upscale
and luxury segments. Furthermore, 73% of hotels in the region expect ADR to
rise. Among the subregions, Southeast Asia exhibits the most optimistic
outlook, attributed to strong tourist arrival growth momentum in most
countries. Most respondents (66%) are optimistic about total revenue exceeding
pre-pandemic levels in 2024, while sentiment in the economy segment remains
lower (33%). Economy hotels are less optimistic due to reliance on tourist
groups and the increased cost of travel. However, the recent expansion of group
tours destinations from China from August 2023, including Australia, South
Korea, and Japan, is expected to bring positive prospects for economy hotels.
Radisson adds in Bucharest. Radisson Hotel Group was selected to be the operator of the
hotel component in the Central District Lagoon City, developed in Bucharest by
Forty Management. The planned hotel will feature 323 rooms, a spa, 100 sqm of
exclusive sandy beach and access to a 10,000 sqm lagoon, a restaurant, and
commercial areas. Aside from the hotel, the scheme will include 401
apartments, 9,200 sqm of commercial and service spaces, as well as 8,500 sqm of
offices and other facilities for urban living.
Vegas cyberattack lawsuits. Five class action lawsuits have been filed again MGM
Resorts International and Caesars Entertainment for data breaches at their Las
Vegas properties earlier this month. The hotels were victims of cyberattacks. The
lawsuits claim that personally identifiable information was compromised, and
that customer has already been sold on the dark web. The lawsuits claim that
MGM and Caesars should have done a better job of protecting their identity. The
lawsuits seek monetary damages and an assurance that a similar incident will
not happen in the future.
IHG's Smith wins Castell award. AHLA Foundation, the charitable arm of the American Hotel
and Lodging Association (AHLA), honored Julienne Smith, chief development
officer, Americas, IHG Hotels & Resorts, as the 2023 recipient of the Peggy
Berg Castell Award. Presented at The Lodging Conference on September 20, the
award highlights women trailblazers who are paving the way for more women to
rise to the top of the hospitality industry. Smith is actively involved in
supporting women through mentorships and sponsorships, and partners with
organizations that help women navigate the hotel ownership process. She also
led the development of IHG LIFT, an owner growth program in the U.S. and Canada
focused on creating more hotel development support for historically
under-represented groups within IHG and across the hospitality industry. She
also serves on the Global and Americas Diversity, Equity & Inclusion Boards
within IHG