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...“Spain is flourishing due to record tourism numbers and robust operational performance from the hotel operators,” said CBRE head of hotels for Europe Kenneth Hatton....
...“It will be compounded by hotel prices [going up while] tourists on a budget won’t be able to come to New York,” Carney added....
...“In the short term this could be a bit challenging for hotels . . . but in the medium term it’s much better to have a flexible stock of Airbnb oversupply as opposed to permanent expansion of hotel room stock...
...Hotel Chocolat’s acquisition last week by Mars handed a sweet payout of £280mn to the UK boutique chain’s founders. It also filled a hole in the family-owned US confectionery giant’s brand mix....
...Clarke ruled out changing Hotel Chocolat’s recipes. Hotel Chocolat last year announced the closure of its US stores after heavy losses and wrote off its investment in a Japanese joint venture....
...The sector’s resilience explains why Choice Hotels International is looking to check into rival Wyndham Hotels and Resorts....
...Hotels were the only part of the market to see a rise in transactions. The sector has enjoyed a post-Covid resurgence in travel that has boosted dealmaking....
...The big hotel openings of 2024....
...Chief financial officer Elizabeth Coddington said the Peloton for business channel, which operates in locations such as hotels, had underperformed, while trial demand for its paid app subscription had been...
...Choice Hotels International has gone public with a nearly $10bn hostile bid for rival Wyndham Hotels and Resorts, after six months of takeover talks to create one of the biggest US budget hotel operators...
...Airfares and hotel prices, two volatile categories which can throw off the data, were both well behaved....
...He is a regular attendee at Cannes Lions, the marketing festival run by Ascential, where last year he threw an exclusive party in a lavish hotel featuring musical artist Lizzo....
...A version of this article was first published by Nikkei Asia on October 2. ©2023 Nikkei Inc. All rights reserved....
...A new “Guest Favorites” feature, which directs users to the 2mn best-reviewed properties on the platform, was launched in November and is aimed at luring more customers away from hotels with its quality...
...SoftBank-backed hotel booking company Oyo has watered down IPO plans due to souring investor sentiment, while Sequoia Capital-backed skincare start-up Mamaearth postponed its IPO this year....
...Another model couples a high-end hotel with a members’ club added on top. Well-managed rooms and meals should generate strong returns, raising the value of underlying properties....
...Kaplan said the industry’s largest gain was on Blackstone’s buyout of hotel group Hilton Worldwide, which yielded more than $11bn in gains....
...They waved frantically to guests at a hotel across the street. “We finally started making . . . the S-O-S sign,” she recalled....
...The online platforms have added capacity and lodging options beyond hotels and have brought people to lesser-known villages and rural areas....
...Hedge funds have lost more than $6bn this year betting against cruise lines and hotels after underestimating the resilience of US consumers....
...Without Airbnb competition, hotels will feel free to raise their rates. Short-term rental costs seem to be drifting up....
...Crans-Montana will join an extensive portfolio that includes Vail Mountain in Colorado, Whistler in British Columbia and three resorts in Australia, together with the RockResorts hotel brand....
...Calay cited the example of InterContinental Hotels Group which suspended its dividend during the Covid pandemic in March 2020....
...After a protracted battle that lasted more than 400 days, only 69 per cent of shares were cast in favour of the deal in a vote at the city’s Shangri-La hotel....
...They are also used across a wide range of industries, from hotels to hospitals, because they save space....
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