Mantra in sights of Asian investors: The US$800 million hotel manager Mantra may be the latest company being targeted for a takeover with suggestions an Asian party or the InterContinental Hotel Group could be moving in. Speculation is emerging as major hotel operators remain in search of growth opportunities in Australia.
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MGM Dubai: MGM won the rights to develop and operate a beachfront destination resort in Dubai under MGM and Bellagio branding.
Trump: The inspector general for the General Services Administration says she’ll wait until the agency determines whether Trump’s company violated its lease for the Trump International Hotel.
Marriott: During its Investor Day Monday, Marriott International said it expects net unit growth to accelerate to 6.5% in the coming years (285,000 to 300,000). Net unit growth was approximately 5% for the combined company over the prior three years. Marriott added that the new room additions can generate US$675 million in stabilized fees.
FLC Group Vietnam: FLC Group Joint-stock Co. confirmed that the government of Quang Vinh gave the go ahead to its unit, FLC Faros Van Don, to build a US$2 billion casino resort in the Van Don Special Economic Zone located on the Vietnamese islands of Ngoc Vung and Van Canh. The developer plans to build a 5-star hotel, a convention center and a golf course.
AETHOS compensation reports: New reports from AETHOS Consulting Group shows: the average salary of a hospitality CEO was US$754,141 with an average bonus of US$1,051,626; Hotel general managers working for luxury properties across the United States receive an average annual bonus of US$76,200 — almost five times as much as a general manager of a mid-scale hotel (US$16,700). There is a definitive correlation between the size of the hotel and executive pay. For example, the finance director of a property with less than 175 rooms earned US$114,000 on average, whereas the same position in a property with more than 301 rooms paid US$159,000.
Food waste reduction project: The World Wildlife Fund with support from The Rockefeller Foundation and the American Hotel & Lodging Association launched a series of pilot projects aimed at further reducing food waste in the hotel industry. WWF and AHLA developed the projects in conjunction with a working group from AHLA’s Food & Beverage Committee and Sustainability Committee. Hotel brands participating in the projects include Hilton, Hyatt, IHG and Marriott International, as well as Hershey Entertainment & Resorts, Sage Hospitality and Terranea Resort.
Four Sisters Inns: The Sonoma Valley’s acclaimed Kenwood Inn and Spa has joined the Four Sisters Inns collection, it was announced today by company President Shelley Post. Purchased by a private investor group, the property will be managed and marketed by Four Sisters Inns.
Chester: Chester has reached the top of Colliers International’s latest UK Hotels Market Index, an analysis of 34 locations across the UK, ranked to determine the ‘hot spots’ for hotel development and acquisition across the country. The city’s high position is mainly due to good occupancy levels, an upward RevPAR trend and a low active pipeline.
Crescent: Fairfax, Virginia-based Crescent Hotels & Resorts has been selected to manage the 502-room Doubletree by Hilton Newark Airport Hotel.
Symmetry Property Development: A group led by New York-based Symmetry Property Development is planning a 60-story Chicago high-rise that would include a 216-room hotel and 120 time-share units.
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