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.
Year-to-date, the group has added 33 hotels and more than 6,400 rooms to its pipeline, and 14 new hotels with almost 2,700 rooms to operations.
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.
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.
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.
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.
A trio of lifestyle brands, EVEN, Hotel Indigo and Kimpton, are set to grow IHG's development pipeline in key markets.
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.
Currently there are 595 hotels in the pipeline for Germany, which equates to almost a third of all hotel construction projects in Europe.
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.