Australian hotel sales hit $2.14 billion in 2022 – the second highest transaction volume on record – with significant additional equity capital still on the sidelines waiting for signs of stabilisation in interest rates and inflation according to new CBRE research.
Meyer Jabara Hotels outperforming businesses inside and outside hospitality
Big news was revealed during the Meyer Jabara Hotels Leadership Conference last month. President Justin Jabara reported to representatives of the company’s 31 owned and managed hotels that the company is coming off a record-setting year.
Hyatt’s growth across Europe, the Middle East and Africa bolsters position as a global leader in luxury
Hyatt Hotels Corporation today shared that 45 percent of the properties that joined Hyatt’s system in 2022 were based in EAME markets and the region’s contribution to the Hyatt growth journey continues into 2023 through a strong pipeline with ten percent of Hyatt’s 117,000 rooms record pipeline, as of fourth-quarter earnings, expected to join the portfolio in EAME markets. Properties classified as lifestyle hotels make up nearly one-fourth of the EAME pipeline, expanding the portfolio to more sought-after leisure destinations and strengthening the World of Hyatt value proposition.
Corporate recovery and limited-service hotels fuel hospitality investor optimism
A bounce back in demand for corporate accommodation and growing potential for limited-service hotels means hospitality investors are ‘mutedly optimistic’ about the year ahead.
China’s unswerving pursuit of common prosperity
A report from People’s Daily: Wang Chuan, a villager of Zhanghe village in north China’s Shanxi province, now is busy preparing his B&B hotel every Friday.
U.S. hotel results for week ending 25 February
U.S. hotel performance increased from the previous week, according to STR‘s latest data through 25 February.
WTTC announces next stage of its groundbreaking Hotel Sustainability Basics initiative
The World Travel & Tourism Council (WTTC) has today launched the Hotel Sustainability Basics (Basics) verification scheme. Announced at ITB Berlin, Basics will enable tourist accommodation providers from around the world, regardless of their size, to begin their sustainability journey. Basics, an industry-wide supported initiative, first launched at WTTC’s Global Summit in Manilla last year, is a globally recognised and coordinated set of criteria that all hotels should implement as a minimum to drive responsible and sustainable Travel & Tourism.
U.S. hotel results for week ending 18 February
U.S. hotel performance increased from the previous week, according to STR‘s latest data through 18 February.
Momentus Hospitality launches in Asia with first flagship hotel
The first Momentus hotel in Asia will be officially opened on 1st March 2023. Momentus Hotel Alexandra is a 442-key property that will reimagine the guest experience with a rich set of features and amenities targeted at the new traveller in the post-pandemic era.
Canada hotel performance surpassed pre-pandemic levels in January
Canada’s hotel performance fell slightly from the previous month but surpassed the 2019 comparables, according to STR‘s January 2023 data.
