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Briefs: M&C’s £2.23B deal | Hilton tip kerfuffle

Hilton CEO’s tipping stance: After The Points Guy reported Hilton CEO Chris Nassetta’s comments during the NYU conference that he generally doesn’t leave a tip (read more about his reasoning here) when staying at a hotel – and generating all sorts of feedback about it – Hilton released a statement from Nassetta that he would, in fact, be tipping going forward whether he was traveling for business or pleasure. Nassetta also acknowledged housekeepers’ hard work, according to The Points Guy.

M&C in acquisition deal: Singapore-based City Developments Ltd. will acquire the U.K.’s Millennium & Copthorne Hotels in a deal that values M&C at £2.23 billion (US$2.84 billion), according to Reuters. CDL already owns a 65.2% stake in M&C in the company. Last year a lower-priced deal for the company’s seven hotels was blocked by M&C shareholders. Billionaire Kwek Leng Beng is the chairman of both entities.

Read more at Reuters

Phoenix closes US$50M fund: Dallas, Texas-based hotel fund manager Phoenix American Hospitality closed a US$50 million REG D offering, American Hospitality Properties Fund III, LLC. It will focus on acquiring limited and upscale select-service hotels in the U.S., and it has acquired 17 upper hotels including the Aloft, Courtyard by Marriott, DoubleTree by Hilton, several Hyatt Places, among other brands, mostly in the south and southeastern U.S.  

Holiday Inn, Express in co-campaign: IHG Hotels & Resorts debuted a global marketing campaign that jointly promotes its two largest brands, Holiday Inn and Holiday Inn Express, in a theme of inclusion and personal connection. The two hotels total nearly 4,000 properties. 

2018 U.S. hotel results: HotStats, which benchmarks the hotel industry, released its annual report on U.S. hotel performance: According to the report, profit growth, or GOPPAR, was up 3.4% year-over-year, bolstered by gains in TRevPAR (up 2.9% YOY) and a muted increase in total payroll growth. “In order to continue the momentum in 2019, hoteliers will need to be cost-conscious and revenue-focused in order to maximize flow-through,” said Pablo Alonso, CEO of HotStats.

Find the report here

Melco to delist: Philippine casino operator Melco Resorts and Entertainment is expected to delist from the country’s stock exchange on Tuesday, the company said in a filing, “by reason of its public ownership remaining below the minimum threshold prescribed under the PSE Rule on Minimum Public Ownership for a period of more than six months.” The company had been warned a month ago that it would be delisted unless at least 10% of its stock was being publicly traded on June 11.

Read the story in GGR Asia

Choice adds five: Choice Hotels International signed an agreement with Legacy Partners LLC to develop five Sleep Inn hotels around Houston, Texas. The first hotel is slated to open in 2020. All five hotels will have four stories and 60 rooms, and be located nearby headquarters complexes of energy companies.

Read the press release 

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