In order to optimize the brand’s arrival on its new market and adapt to the local clientele, Campanile and Jin Jiang teams worked hand in hand for a full year and together they will open an average of 1.5 hotel openings per week for the next four years.
Hospitality money managers should avoid short-term trading: Cornell study
A new study from Cornell University suggests that professional investment managers often engage in short-term stock trading with poor results, which could have serious implications for hospitality firms with billions of dollars in pension funds.
$50 million in hotel room revenue lost during Hurricane Matthew
The overall loss will be higher once future lost business as a result of the extensive damage and renovations that many hotels will require prior to reopening is factored in.
IHG introduces new brands to AMEA region to drive lifestyle segment growth
A trio of lifestyle brands, EVEN, Hotel Indigo and Kimpton, are set to grow IHG’s development pipeline in key markets.
Best Available Rate replacing commercial demand at UK hotels
The study, Benchmarking Beyond RevPAR, revealed that the 235% growth in BAR bookings was at the expense of a 17.2% reduction in rooms revenue derived from commercial-related sources during the same 15-year period.
HNA Group buys a 25 percent stake in Hilton
The transaction is valued at approximately $6.5 billion, or $26.25 per share in cash, reducing Blackstone’s interest in Hilton to approximately 21 percent.
Red Roof Forum on Leadership for Women Entrepreneurs aims to encourage female hotel owners
The Forum is intended to give women the tools they need to manage their hotel businesses more effectively and efficiently, to help them rise in the ranks within a hotel company, grow their businesses with acquisitions and/or investments as well as tips on future planning and steps to success.
German hotel market still leading in Europe
Currently there are 595 hotels in the pipeline for Germany, which equates to almost a third of all hotel construction projects in Europe.
Atelier de Hoteles announces US$700 Million investment in Mexico
Atelier de Hoteles’ business plan involves the opening of five thousand rooms within the 20 hotels to be built in cities and leisure destinations in Mexico in the next five years.
Substantial benefits from tabletop ordering technology: Cornell study
A new study from the Cornell Center for Hospitality Research (CHR) finds that the tabletop technology can both speed table turns and increase average checks.
