Marriott signs 12 in Japan: Marriott International announced the signing of 12 Fairfield by Marriott hotels across in Kyoto, Wakayama, Mie, Gifu and Tochigi prefectures in Japan, with another three anticipated in a collaboration with Japanese real estate developer Sekisui House. All properties are expected to open by 2021.
Toy Story in Tokyo: Oriental Land Co., operator of Tokyo Disney Resort, announced a 31.5 billion yen (US$278 million) investment to build a 600-room “Toy Story”-themed hotel on the resort property. “It will be designed as if everything from the exterior to the courtyard are made of toys,” a company official said. The hotel is scheduled to open in 2021, according to the Asahi Shimbun.
Hyatt, SLH loyalty merger launches: World of Hyatt and Small Luxury Hotels of the World officially launched their strategic loyalty alliance. Hyatt members can earn and redeem points at more than 50 SLH properties, with more SLH hotels expected to join. Hyatt added an eighth award chart category to its membership benefit structure to encourage Hyatt members to book at SLH hotels.
GM cuts hit hotel: The General Motors-owned Courtyard by Marriott hotel across from its Renaissance Center headquarters in downtown Detroit is for sale, according to Automotive News. The carmaker, which earlier announced plans to slash more than 14,000 jobs and idle five North American plants, confirmed its intention to sell the 265-room hotel built in 1985. The company hopes to get US$45 million for the property.
Fosun IPO: Hong Kong’s Fosun Tourism Group, owner of Club Med, plans an initial public offering of as much as US$548 million with a date to begin trading of December 14, according to Bloomberg.
Oyo to “manchise” in UAE: Oyo Hotels & Homes will launch its combination management contract and franchise agreement model in the United Arab Emirates to create 2- to 4-star properties. Oyo currently manages 1,300 rooms across 16 properties in Dubai, Sharjah, Ras Al-Khaimah and Fujairah, according to Trade Arabia.
Israel fires up ADR: Israel’s hotel industry is on pace for a record-breaking year with ADR as the main driver of performance, according to STR. Through the first 10 months of 2018, Israel posted an ADR of ILS806.28 (US$215.88), a year-over-year increase of 7.8%. That absolute ADR level was the highest for any October year-to-date time period in STR’s Israel database. “Solid growth in demand that began in 2016 has given hoteliers in the country the confidence to push room rates — even as the presence of the sharing economy continues to broaden,” said Thomas Emanuel, STR’s director of business development. Occupancy was 70.1% through October (-0.4% YOY), while RevPAR was ILS565.26 (US$151.38) (+7.4% YOY). The absolute occupancy level was the second-highest for the October year-to-date time period, while the RevPAR level was the highest.
Nylo to Prism: Dallas-based Prism Hotels and Resorts and Hilton announced that the three Nylo boutique hotels under Prism management since July will join Tapestry Collection by Hilton in December: the Nylo Irving/Las Colinas and Nylo Plano, both in Texas; and the Nylo Providence/Warwick, Rhode Island.
Marriott acquired: AWH Partners and Opterra Capital acquired the Cincinnati Marriott at RiverCenter, Ohio, with Spire Hospitality operating and managing. The 321-room hotel was recently renovated.