Latest news: Standard's new brand; IHG adds in Malaysia; EMEA pipelines

Standard’s X-factor. Standard International is launching a new concept called The StandardX with its first property set to open in Melbourne’s Fitzroy neighborhood in February 2024. Drawing on the X-factor terminology that gives guests something unique in the lifestyle hospitality, the first 125-room property will include minimalist guest rooms with two main social spaces that include a restaurant only open to hotel guests as well as a Thai street food-inspired restaurant. Rates are expected to start at $160.

IHG grows in Malaysia. IHG Hotels & Resorts, in partnership with Taipei real estate broker Zhancheng Tourism Development, a subsidiary of Sinyi Realty Inc., a listed real estate brokerage company in Taipei, will develop the eco-friendly InterContinental Sabah Kota Kinabalu Resort in Malaysia. The 450-room new-build beachfront resort in northern Borneo will open in 2027. The hotel will establish targets across energy,water, landscape, materials, and waste. It will develop natural ventilation and extensive shading and use recycled water via a rainwater filtration system. Local sourcing of goods and materials will be prioritized, with an on-site food garden and the use of low carbon materials from the local area among its sustainability-based initiatives.

Combined residential platform for Europe. A comprehensive residential platform in Europe that brings DoveVivo, ALTIDO and Chez Nestor under one brand has been launched as Joivy. The concept offers a range of living spaces to its users - co-living, micro-living, student housing, short-term stays, multifamily and co-working - and supports owners and investors with services from complete asset management, to design and build and real estate investments. The platform currently has a portfolio of 4,000 units located in 50 destinations and six countries.

New hotel for downtown Orlando. California-based SED Development, San Francisco-based JMA Ventures and Houston-based Machete Group are planning a 260-key lifestyle hotel as part of a 900,000 sq. ft. mixed-use project adjacent to the Amway Center in downtown Orlando. The hotel will have 16,000 sq. ft. of meeting space and an adjacent 3,500-capacity live music venue.

Europe pipeline update. Through 3Q23, Europe’s construction pipeline currently stands at 1,673 projects/249,264 rooms, up 1% by projects year-over-year (YOY), according to Lodging Econometrics. Luxury projects increased 2% YOY, just ten projects short of the segment’s all-time high, closing the quarter with 139 projects/18,515 rooms. The upper upscale chain scale increased 3% by projects YOY, with 284 projects/46,717 rooms. Upscale projects in Europe are up 3% YOY and account for 26% of projects in the country’s total construction pipeline, settling in at 439 projects/71,178 rooms. Economy projects grew 5% YOY to stand at 157 projects/20,042 rooms at the close of the quarter. There are 759 projects/114,842 rooms under construction. Projects scheduled to start construction in the next 12 months stand at 411 projects/63,154 rooms, while projects in early planning stand at 503 projects/71,268 rooms. Brand conversions in the region are up 15% by projects YOY, to stand at 374 projects/49,893 rooms. Construction starts grew 17% by projects YOY, with 91 hotels/11,436 rooms, and new project announcements (NPAs) also increased at Q3 by 20% YOY by projects, to close the quarter at 107 projects/13,536 rooms. The United Kingdom continues to have the largest number of projects in the region’s total pipeline at Q3, with 322 projects/44,259 rooms.

New leader at Hand Picked. Hand Picked Hotels, London has Ignace Bauwens, former managing director for the Middle East, Asia and Africa at Corinthia Hotels, as its new CEO, replacing Julia Hands. Hands, CEO since the company was founded in 2001, will remain as chairman of the 21-hotel collection of country house and spa hotels in the UK and the Channel Islands. Bauwens will be responsible for the day-to-day operations, as well as its long-term growth strategy.

Center Parcs sale scrapped. The proposed £4 billion sale of U.K.-based Center Parcs resorts has reportedly been scrapped by owner Brookfield amid weak investor confidence. Brookfield is understood to still be considering selling a minority stake or recapitalizing Center Parcs, which has six holiday parks in the U.K. and Ireland. It purchased the group for £2.4 billion from Blackstone back in 2015.

Amara bid. Amara Holdings, Singapore, has reportedly received a voluntary cash offer to go private from a consortium at SGD 0.60 per share, representing a 53.8% premium over its share price on June 15. The special purpose vehicle Amethyst Assets, partially owned by First Security and Concordia United, seeks to privatize Amara due to challenging growth prospects and low trading liquidity of its shares. The buyout, presenting a clean cash exit opportunity, will be financed through interest-free loans and a bank loan.

Higher-end chains dominate Middle East pipeline. The hotel construction pipeline in the Middle East stands at 585 projects and 139,582 rooms, with project counts up 9% year-over-year, according to data from Lodging Econometrics. Of those 585 projects, 320 are currently under construction, totaling 83,760 rooms, while 103 projects are scheduled to start in the next 12 months. There are 162 projects in the early planning stage. With an average of 239 rooms per project, the Middle East continues to have the largest hotel construction projects in its pipeline of any region in the world, with most of these projects belonging to to the top three chain scales (82% of the Middle East’s projects in Q3 are in the luxury, upper upscale and upscale.) Luxury projects are up 26% YOY in the region (156 projects/33,346 rooms), Upper Upscale projects are up 22% YOY (160 projects/40,789 rooms), while Upscale construction stands at 163 projects and 41,339 rooms. Saudi Arabia is the leading country (275 projects/67,614 rooms) and accounts for 47% of the region’s total pipeline, while the Provincial region of Saudi Arabia is the leading market (115 projects/25,333 rooms.)

Another Place adds in Scotland. England-based lifestyle hotel company Another Place will add its first hotel in Scotland in 2024. The 47-key hotel The Machrie sits on the Isle of Islay and features a championship links golf course built along the beach at Laggan Bay. In addition to acquiring the hotel, the company also acquired a nearby pub, the Brackenrigg Inn, which will be refurbished and open in February 2024.