Breaking news about deals, development, data and more.
IHG adds in Berlin. IHG Hotels & Resorts (IHG) has signed the 303-room Bristol
Berlin, Vignette Collection. The hotel is part of Aroundtown’s portfolio, which
owns over 150 hotels across Europe. The IHG brand has surpassed the halfway
point in its decade-long target to attract 100 hotels by 2030. In Germany, IHG
has 147 open and 75 under development.
Choice updates Radisson performance. Choice Hotels International has stated that its Country Inn
& Suites brand has achieved a 19-point increase in RevPAR Index, a 20% rise
in direct online contribution, and an increase in revenue from group and
business travelers year-over-year. Choice added that the Radisson Americas
brands have seen increased digital traffic and higher booking conversion rates,
leading to new hotel development commitments, including 38 new Country Inn
& Suites added to the pipeline in the last two years.
More US travel bans?: U.S. president Donald Trump could sign an executive order as
early as this week that would build on his travel ban from 2017 that restricted
entry to the United States for citizens of seven largely Muslim countries,
which the Trump administration regards as having insufficient immigration
screening and security measures in place. Reports from both Reuters and the New
York Times cited officials within the Trump administration who said that a new
executive order would not only ban travel to the U.S. for the most countries
listed in the president’s original order—Iran, Libya, Somalia, Sudan, Syria and
Yemen—but would also create an expanded list and would establish security
mitigation requirements for other countries. A draft of the order currently
circulating among government officials has added Afghanistan to the list of
so-called “red” countries whose citizens would be barred from traveling to the
U.S., but it is unclear if that inclusion is final.
Groupe Floirat rebrands. French luxury hospitality company Groupe Floirat is
rebranding to Floirat Signatures. Properties in France include Le Byblos,
Byblos Beach, and Les Caves du Roy in Saint-Tropez, La Réserve in
Saint-Jean-de-Luz, and Les Manoirs in Tourgéville. The group said the change
reflects a commitment to enhancing the exclusivity and uniqueness of their
experiences. The rebranding is effective immediately, with all properties
continuing operations as usual.
South Korea deal. South Korea’s Shinhan REIT Management Co. has acquired the 383-key
Shilla Stay Mapo Seoul from South Korea-based Hana Alternative Asset Management
for KRW140 billion. This translates to an acquisition price of approximately KRW366
million per key.
Far East sells in London. Hong-Kong based Far East Consortium International Ltd. is
selling a London mixed-use project to Hong Kong’s AMTD Idea Group for £47.2
million. The Hornsey Town Hall development project is nearing completion and
includes a hotel component valued at £22.66 million of the total transaction.
Following the acquisition, AMTD will open a 68-key hotel, understood to be Dao
by Dorsett North London, the second Dao by Dorsett AMTD hotel globally.