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Report has Accor selling assets. Accor has reportedly
put up for sale assets in Europe and Latin America to raise about €2 billion to
help reduce its debt. Bloomberg reported that sources told them AccorInvest
Group SA has hotels under the Sofitel brand in Paris for sale to repay creditors, as
well as five Ibis hotels in the U.K., portfolios of assets in Germany and Latin
America, a hotel in the Netherlands and a Sofitel in the central and eastern
Europe region. Sources added that Accor will also talk to lenders to amend the
terms and extend the maturity of €4 billion of debt coming due in 2025.
IHG grows in Indonesia. IHG Hotels & Resorts has
partnered with MMS Land – the property and hospitality arm of MMS Group Indonesia
– to develop the new-build, 199-room Crowne Plaza Labuan Bajo, the third
of the brand in the country. The property will be located next to Komodo
International Airport, 15 minutes from the waterfront on the most western tip
of Flores Island. Crowne Plaza Labuan Bajo is also being developed as a MICE
destination with more than approximately 600 square metres of meeting space. Data
suggest that the number of hotels in Labuan Bajo increased by 50% between
2016-2018, rising from 64 hotels with 1,030 rooms to 98 hotels with 1,462
rooms, making it one of Indonesia’s highest-growth territories in terms of
hotel development. More recently, the province where Labuan Bajo is located
reported that star hotels in the region have shown a strong growth in demand,
with a 36% increase in first quarter of 2023 as compared to 2022.
Canopy by Hilton to Warsaw. Hilton has confirmed a franchise
agreement with TFG Hotels to develop Canopy by Hilton Warsaw. Opening in 2025,
the newly developed 170-room hotel will be Hilton’s first lifestyle hotel in
Poland, joining recent Canopy by Hilton openings in Cannes, Madrid, London and
Paris. The hotel will be managed by TFG Hotels. Canopy by Hilton Warsaw will
join the portfolio of 29 trading properties in Poland and six in Warsaw.
LuxUrban converts 3 to Wyndham’s Trademark. LuxUrban Hotels
Inc., which utilizes an asset-light business model to lease entire hotels on a
long-term basis and rent out hotel rooms in these properties in key major
metropolitan cities, has opened three previously announced hotels in New York
City acquired under long-term Master Lease Agreements (MLA). Two of the hotels
are in Times Square and the third is located in the Flatiron District. These
hotels, comprised of an aggregate 368 rooms, will join the Wyndham Hotels &
Resorts brand family as “by LuxUrban, Trademark Collection by Wyndham” and
be onboarded to the Wyndham operating platform. They will also contribute to
LuxUrban’s fourth quarter 2023 operating results. With these openings, LuxUrban
currently has 1886 rooms welcoming guests. The company also announced that it
expects to add under long-term MLA seven additional properties comprised of
1,604 rooms during the fourth quarter of 2023. These properties will also join
the Wyndham’s Trademark Collection. The company continues to expect to have
2,146 hotel units across 21 properties operational by the end of October 2023.
Meliá grows in Dubai. Meliá Hotels International has signed a deal with developer Albwardy
Investment LLC to open in the fourth quarter of 2025 the 380-room Gran Meliá
Dubai Jumeirah on the beachfront in Port de La Mer. Meliá already manages seven
other properties for Albwardy Investment and this hotel represents the Spanish
hotel company’s 10th in the UAE. Meliá and the Albwardy Group are
also preparing a future opening in Seychelles, among others.