25Hours in Denmark: 25hours Hotel Company is planning its first hotel in Copenhagen by signing a long-term lease agreement with the Hines real estate company to convert a former university building and porcelain factory dating from 1775; design will be by local architects from BBP Arkitekter and Martin Brudnizki Design Studios. The goal is to open the 243-room hotel in June 2021.
Accor reports results: France’s AccorHotels reported 2018 full-year results: Revenue rose 16.9% to €3.6 billion year over year; EBITDA was up 14.5% to €712 million; and 588 hotels and 100,000 rooms were developed. Following its asset-light model, it’s focusing on distribution, loyalty and brand strength, according to the company, tying the results to an announcement of the “ALL-Accor Live Limitless” program, which was described as combining Accor’s distribution platform and a new experiential loyalty program. The company also announced a signing of several global partnerships with AEG, IMG and the Paris Saint Germain football club; ALL will become the main shirt sponsor as of the club’s next season.
Oyo enters Saudi market: Oyo Hotels & Homes signed a memo of understanding with Saudi Arabia’s Public Investment Fund to launch operations in the kingdom. The company has more than 50 signed franchised hotels and over 3,000 rooms in seven cities in Saudi Arabia.
Wynn lawsuit to settle? Massachusetts’ gambling regulator has voted to settle a lawsuit with hotelier Steve Wynn. It would remove a legal obstacle before the publication of the regulator’s report on the suitability of Wynn Resorts to operate the Encore Boston Harbor resort. Wynn had sued the commission and his former company in November, saying that the company improperly communicated information to the regulator that violated attorney-client privilege.
Rebound in the Bahamas: The Bahamas’ hotel industry has seen room 2018 room revenues increase 34% in 2018 year over year, according to Robert Sands, Baha Mar’s senior vice-president of government and external affairs. The momentum is expected to continue in 2019, Sands said. ADR and RevPAR are ahead of some 2017 numbers, but he warned that downtown Nassau and the airport needed improvements in order to sustain the hospitality sector.