Breaking news about deals, development, data featuring Hilton, Fern Estates, IHCL, Travelodge and more.
IHG partners with Iberostar to open Kimpton in DR. IHG’s
Kimpton Hotels & Resorts is opening a new boutique luxury hotel in Santa Domingo, Dominican Republic, marking its first
operational partnership with Iberostar Group. IHG said the partnership with Iberostar “while outside the commercial
agreement, demonstrates opportunities of the strategic alliance between IHG and
Iberostar Hotels & Resorts.” Rodrigo Silveyra, director of operations,
Americas, for Iberostar Group, said "it’s a great example of positive outcomes and opportunities that are
surfacing based upon our expanding relationship with IHG.” The 130-key Kimpton
Las Mercedes, which is owned by Megeve Investment Office S.A.S, is scheduled to
open this summer and is the brand’s first property in the Dominican Republic.
It will be the fifth Kimpton in CALA, which currently
has 78 hotels worldwide with 54 hotels in the pipeline.
World of One group
launches. World of One, a new hotel representation group with a portfolio of
22 independent hotels and resorts, has launched. World of One features four
brands: boutique, luxury, unique and classic and has a simplified marketing and
membership model and a loyalty program. The portfolio features six hotels in
the luxury group in the Caribbean, Cameroon, Italy, Turkey, Portugal and Sri
Lanka; 10 hotels in the boutique group in Italy, Greece, Malta, Montenegro and
Romania; five in the unique group in Italy, Tuscany, Maldives, Sri Lanka and
St. Lucia; and one in the classic group in Greece.
Hilton adds in India. Hilton has signed
the Conrad Jaipur, which will be the first Conrad Hotels & Resorts in the “pink city” of India. The 246-key Conrad Jaipur will be developed with SunnyRaj
Properties Pvt Ltd and is scheduled to open in 2027. Hilton currently has a
portfolio of 26 hotels in India, with 19 in the pipeline, and is on course for
75 hotels in India in the coming years.
Fern Estates acquires in Goa. Bengaluru, India-based
Ferns Estates has expanded in India by acquiring a 75-key luxury hotel in Goa
for Rs1.75 billion ($21 million). The transaction included a two-acre plot to
develop an additional 75 rooms. Ferns Estates operates under the Rosetta Resorts
and Holiday Homes brand. It secured a 10-year loan from Bajaj Finance for this acquisition.
More details on Travelodge’s latest. There are additional details about the new Travelodge hotel that will open in London. The 151-key London Wimbledon Central Travelodge will be the company’s 85th hotel in London and will transform Gredley House, a vacant office building near Stratford Station. Barnes Construction will build the program, and Travelodge signed a 25-year lease with the building’s owner, Unex Group. The hotel is expected to open by the end of 2025.
IHCL adds in Kolkata. Indian Hotel Co. Ltd. has signed a new resort in Kriparampur, Kolkata, India. The 130-key IBIZA – an IHCL SeleQtions, is a collaboration with Merlin Group and is scheduled to open in October 2025. With this addition, IHCL will have seven hotels in Kolkata, including two that are under development.
Repairs underway at Texas hotel that suffered explosion. Repairs are now
underway at the Sandman Signature Hotel in Fort Worth, Texas, after an
explosion that injured 21 people. The hotel opened in March 2023 but has
temporarily closed since the explosion. The owner, Northland Properties, told
the Dallas Business Journal it is committed to restoring the historic site and
that the rebuilding will likely take some time. Northland also said it is
unlikely the hotel will reopen in the coming months.
WTTC projects record breaking year for travel. The World Travel & Tourism Council (WTTC) is projecting a record-breaking year for travel and tourism in 2024 with projections of an all-time high of $11.1 trillion. According to WTTC’s report, travel and tourism will contribute an additional $770 billion over its previous record, generating one in every 10 dollars worldwide. The report found that the sector has almost 348 million jobs worldwide, 13.6 million more than the previous high in 2019. In addition, international spending is expected to reach $1.89 trillion, which would come close to its 2019 peak, while domestic tourists are expected to spend $5.4 trillion in 2024. The study found that the travel and tourism sector hit $9.9 trillion in 2023, representing 9.1% of global GDP. It also projected the sector will continue to grow with projections of $16 trillion for 2034 and employ 449 million people worldwide.