New sub-brand under Red Roof: Columbus, Ohio-based Red Roof has created an extended-stay sub-brand in HomeTowne Studios by Red Roof. The brand will undergo a phased launch of over 30 properties across more than 20 markets with nearly 4,000 rooms, and has a pipeline of more than a dozen properties scheduled to open over the next 12 months.
Global biz on the move: Global business travel spending reached US$1.33 trillion in 2017, rising 5.8% over 2016, according to the Global Business Travel Association’s GBTA BTI Outlook – Annual Global Report & Forecast. The report was released at the GBTA’s annual convention. Spending is forecast to advance another 7.1% in 2018 and will expand to US$1.7 trillion by 2022.
Selina scouting in Israel: Latin American hostel and co-working company Selina Ltd. is looking to open several hostels in Israel and is partnering with Israeli real estate company Ampa Real Estate Ltd. to do it. The companies are scouting locations in Tel Aviv, Jerusalem, Haifa and the southern Negev desert. Selina intends to open several hostels with a combined capacity of up to 7,000 beds within five years, according to Calcalistech.
Everwood acquisition: Indianapolis, Indiana-based owner/operator Everwood Hospitality Partners acquired the former Stockyards Bank Building in downtown Indianapolis. It plans to convert the 1898 building to the 128-room Aloft Indianapolis Downtown. Construction will begin later this year; completion is estimated in 3Q 2019.