Breaking news about development, deals, data and more.
NYC joint employer bill delayed. The New York City Council
has postponed a planned July 30 hearing on a bill that the AHLA said would
gravely harm the city’s nearly 700 hotels and their roughly 265,000 employees.
On July 18, a councilwoman proposed a bill that would impose staffing
requirements on hotels in the city and require all hotel owners to be treated
as joint employers along with hotel operators. It would set strict requirements
for several hotel staffing functions. On July 28, a hearing about the bill was
delayed to “allow for more time for feedback prior to taking the next step in
the legislative process.”
Is gaming coming to UAE? The first step in a long-rumored
plan to bring gaming to the United Arab Emirates could have been taken last
week when the General Commercial Gaming Regulatory Authority (GCGRA) selected
The Game to run the Emirates' first national lottery. GCGRA Chairman Jim
Murren, former CEO of MGM Resorts, said the launch of the lottery is “a pivotal
event that not only marks the establishment of a disciplined world-class
regulatory framework for lottery activities but also underscores our commitment
to nurturing a secure and enriched commercial gaming environment in the UAE.”
The Game is the first business licensed by the GCGRA, the UAE’s federal
regulator established last September. The GCGRA describes The Game as “a
commercial gaming operator specializing in game development, lottery operations
and gaming-related content.” GCGRA is also working the licensing of
integrated resorts and the launch of a regulated igaming market. For
land-based, construction is under way at Wynn’s Ras Al-Khaimah resort, although
it remains unclear when it will receive its license.
Extended-stay demand improves. Extended-stay hotel supply
growth has been increasing incrementally for most of 2024 and will likely
exceed the change in demand year-to-date. However, for the last three
consecutive months demand has grown faster than supply. With occupancy and
average rate both increasing small gains in RevPAR have been reported,
reversing a four-month trend of declining RevPAR, according to a Highland Group
report. “June was another good month for extended-stay hotels with demand
growth exceeding the change in supply for the third consecutive month.” Said
Highland Group Partner Mark Skinner.
YourSpace update. YourSpace Partners has broken ground at
the inaugural site of YourSpace, its midscale extended-stay hotel brand. The
flagship 4-story, 122-room site is in Chesapeake, Virginia. CEO and Managing
Director Neel Desai said LTD Hospitality Group will manage the property
targeted for a summer 2025 opening. Virginia Beach, Virginia-based YourSpace
Partners plans to launch additional hotel locations in Suffolk, Virginia, and
Elizabeth City, North Carolina, within the next year.
W Kuala Lumpur sells. Malaysia-based IOI Properties Group
Berhad has agreed to acquire the 150-key W Kuala Lumpur Hotel from
Malaysia-based Tropicana Residences Sdn. Bhd. for MYR 270 million MYR (1.8
million per key) through its 99.9% owned indirect subsidiaries. IOI has also
entered into an agreement with Malaysia-based Pantai Kok Resort Development Sdn
Bhd to acquire the 3.99 hectares of freehold land in Pantai Kok, Teluk Burau in
Langkawi for MYR 90.1 million.
HK hotel deal. An entity linked to Shih Wing-ching, the
founder of Hong Kong-based Centaline Property Agency, has acquired the 63-key
Popway Hotel in Hong Kong’s Tsim Sha Tsui distict for HKD 180 million (HKD 2.9
million per key) from Hong Kong-based hotelier David Lau Ka-wai. HVS reported
that the property’s proximity to Hong Kong Polytechnic University and other
educational institutes makes it a prime candidate for conversion to student
housing, a trend among investors in Hong Kong’s hospitality assets.
Pan Pacific teams with Tokyu again. Pan Pacific Hotels Group
has debuted in Kyoto, Japan, via a strategic partnership
with Tokyu Hotels following last year’s launch of Bellustar Tokyo, A Pan
Pacific Hotel and Hotel Groove Shinjuku, a Parkroyal Hotel, both located in Shinjuku, Tokyo.
The 143-room Hotel Higashiyama Kyoto Tokyu, a Pan Pacific Hotel, will also be
introduced into the Pan Pacific Discovery loyalty program.
Whitbread deal in Manchester. Whitbread has appointed GMI
Construction Group as principal contractor for its latest development in
Manchester City Centre in the U.K. The location has planning permission for a
229-bedroom Premier Inn hotel set over 10 stories with an integrated
restaurant, bar, and check-in area on the ground floor. Whitbread acquired the
site from Premcor in February 2024. It will mark Whitbread’s seventh hotel in
central Manchester and one of its largest in the city.