Choice adds eight: Choice Hotels International signed an agreement with Hammock Worldwide Hotels & Resorts to convert and open eight Choice-branded properties across the U.S. Mid-Atlantic region. The hotels will open before the end of the year and in early 2019 in multiple cities and cover the Clarion, Clarion Pointe, Quality Inn, and Rodeway brands: four, including a dual-brand, in Pennsylvania, one in Virginia and three in New Jersey. Hammock has about 16 individually owned and operated properties in the United States.
Vail in Australia: U.S. ski resort operator Vail Resorts is purchasing two Australian properties – Hotham Alpine Resort and Falls Creek, both in New South Wales – for A$120 million (US$85 million). It’s part of a deeper foray into the continent for Colorado-based Vail, which purchased the Perisher resort in the area in 2015.
Read the story in the Australian Financial Review (registration required)
Xenia sells in Denver: Florida-based Xenia Hotels & Resorts sold the 228-room Residence Inn Denver City Center, Colorado, for US$92 million, or about US$404,000 per key. The seller was not named. It had purchased the hotel and an adjoining garage from Inland American Lodging Group for US$80 million in 2013.
Read more on the Street Insider
Top cities for business travel: A study by Expedia’s business travel group, Egencia, showed flight demand for the 20 most traveled-to cities for business travel. New York topped the list for the fourth consecutive year, followed by London and Paris, the only two European cities to make the list, then Toronto. Shanghai is fourth, with Asia dominating much of the list. Between January 1, 2014 and December 1, 2018, total business travel flight bookings increased globally by nearly 110% the company said.
Four Seasons CEO search continues: The Wall Street Journal is reporting that the CEO spot at Four Seasons Hotels and Resorts will be empty in January after the planned departure of current chief CEO Allen Smith at the end of the month. With the top candidate either withdrawing or being declined, according to the Journal, the search firm is being instructed to continue the search rather than consider other current candidates.
Read the story in the Wall Street Journal (registration required)
No strike in L.A.? The Los Angeles Times is reporting that a tentative strike among hotel employees in January – right around ALIS time – has been averted at six hotels in Los Angeles. Unite Here Local 11, representing 7,500 workers in Los Angeles and Orange counties, reached a tentative contract agreement with the J.W. Marriott and the Courtyard Marriott at the L.A. Live entertainment district as well as the SLS in Beverly Hills, the W Hollywood, the W Westwood and the Sheraton Grand near downtown Los Angeles. However, other demonstrations elsewhere in the area may still occur.
Read the story in the Los Angeles Times
African-American travel potential: A study by Mandala Research shows that African-American travelers represented a US$63 billion contribution to U.S. travel and tourism in 2018. The survey polled 1,700 respondents. Some details:
- African-American cultural travelers are the highest spenders, with an average per trip spend of US$2,078 versus US$1,345 for all African-American travelers.
- Florida, New York City/New York, and Atlanta are top U.S. destinations; Caribbean/Bahamas (38%) and Mexico (26%) are leading international destinations.
- Food and shopping are leading spend categories with nearly half of travelers spending on local and/or regional cuisine on their most recent leisure trip.
- Shopping continues to be a popular activity for vacationers, most often at malls (41%) and outlet malls (34%), but also downtown (28%).
Emaar clarifies sale price: UAE developer Emaar issued a clarification on the sale price of five hotels, which it said it is selling as a group: 2.2 billion dirham (US$598.9 million). Emaar announced in November that it is selling properties to Abu Dhabi National Hotels including Address Dubai Mall, Address Boulevard, Address Dubai Marina, Vida Downtown and Manzil Hotel. The sale is not yet complete.
Second Accor buyback: AccorHotels announced the launch of a second tranche of a share buyback for €500 million (US$569.9 million). The initial tranche, of €350 million (US$398.8 million), was completed last month. The purchase period ends in June.