Brazil bounce: A double-digit increase in occupancy during January 2018 was further evidence of hotel performance recovery in Brazil, according to an analysis from STR. Brazil posted a 10.2% year-over-year increase in occupancy to an absolute level of 54.2%. This lift, coupled with a 1.4% increase in ADR to BRL298.44, resulted in 11.7% growth in RevPAR to BRL161.64. The year-over-year jump in occupancy was the highest for any month in Brazil since February 2011. Additionally, Brazil has reported four consecutive months of RevPAR growth, with three of those four producing a double-figure lift. Prior to that stretch, the country saw 13 consecutive months of RevPAR declines.
Green light for Mantra deal: The A$1.2 billion (US$937 million) bid by AccorHotels for Mantra Group has been given the green light by the competition regulator, in a move that will create the biggest hotel operator chain in the country. The Australian Competition and Consumer Commission gave the go-ahead after finding little overlap between the two groups, which operate in different parts of the market. The deal, now expected to be finalized by May, gives Mantra an implied market capitalization of A$1.182 billion.
LVS sells. Las Vegas Sands Corp. said Thursday it has entered into a definitive agreement under which Wind Creek Hospitality, an affiliate of the Poarch Band of Creek Indians of Alabama, will acquire the Sands Bethlehem property in Pennsylvania for a total enterprise value of US$1.30 billion.