Visitors spent an additional £673 million across Britain as a result of activity by national tourism agency VisitBritain/VisitEngland, the latest figures show. The agency reported the figures, which cover its activity from April 2021 to June 2022, as it was set to bring industry leaders together at its annual review event on 22 March, highlighting its plans to support the industry and grow the visitor economy.
PMZ Realty Capital arranges acquisition financing for courtyard by Marriott
PMZ Realty Capital LLC, a national boutique real estate investment banking firm focused on creating advantageous capital structures for its clients, announced today that it arranged acquisition financing for the Courtyard by Marriott Austin – University Area located in Austin, Texas. The $20.75M non-recourse acquisition loan with a flexible floating rate priced over SOFR was provided by a portfolio lender to cover 73% of the overall total project costs.
IHG Hotels and Resorts showcases impressive growth for its Holiday Inn brand family in Southern Europe
IHG Hotels & Resorts, one of the world’s leading hotel companies, continues to demonstrate the strength of its Holiday Inn brand family in Southern Europe, as it signs 13 hotels and opens a further two, including a brand debut – Holiday Inn Express & Suites Portimão – and a market debut – Holiday Inn Express Sofia Airport in Bulgaria. These signings and openings reflect IHG Hotels & Resorts’ strategic ambitions to grow at speed in the region, driven by world-renowned brands loved by guests and owners. The Holiday Inn brand family generated half of all IHG’s global openings in 2022 and around a third of signings.
PATA Annual Summit and Adventure Mart 2023 to be held in Pokhara, Nepal
The Pacific Asia Travel Association (PATA) is set to organise the PATA Annual Summit and Adventure Mart 2023 in Pokhara, Nepal from May 29 – June 1. The event will be hosted by the Nepal Tourism Board (NTB).
Marriott International receives regulatory approval to complete city express brand acquisition
Marriott International, Inc. today announced that it has received approval from Mexico’s Federal Economic Competition Commission, COFECE, for the acquisition of the City Express brand portfolio from Hoteles City Express, S.A.B. de C.V. (BMV: HCITY), paving the way for the company’s entry into the affordable midscale segment.
New report to support climate action in the tourism sector
UNWTO has released a new report highlighting the progress that global tourism has made in measuring greenhouse gas emissions as well as the challenges the sector still faces.
WTTC reveals Germany’s Travel and Tourism sector’s climate footprint
The World Travel & Tourism Council (WTTC) and the Saudi-based Sustainable Tourism Global Center have unveiled groundbreaking new data detailing the climate footprint of the Travel & Tourism sector in Germany.
Accor Pacific announces partnership with Ecotourism Australia
Australia and New Zealand’s largest hotel operator, Accor, has entered into a strategic partnership with Ecotourism Australia to certify all Accor hotels, apartments and resorts across Australia and the Pacific as Sustainable Tourism certified businesses.
UNWTO at ITB Berlin: setting priorities for tourism
UNWTO returned to ITB Berlin with a clear message: Tourism is back and committed to delivering positive change that goes beyond the sector itself.
It’s time to re-evaluate hotel performance metrics, says HVS
Hotel operators need to learn to manage the entire building they operate and start thinking of performance in terms of the total revenue or profit per available square meter, giving a more accurate assessment of the property’s success.
