Cheyne completes financing for Andalucia Plaza: Cheyne Capital, London, has agreed to a €63.3 million (US$69.44 million) funding partnership with Bain Capital Credit and Stoneweg Hospitality to support the redevelopment and acquisition of the 400-key Andalucia Plaza Hotel in Marbella, Spain. The hotel includes two restaurants, three bars, eight meeting rooms and two swimming pools. It has been considered as a redevelopment opportunity under the Hard Rock brand. Most of the hotel’s existing building fabric is expected to be preserved during the refurbishment to lower the environmental impact.
Banyan Tree’s first Veya: Banyan Tree Group, Singapore, announced the launch of their wellness brand, Banyan Tree Veya, within its multi-brand ecosystem. Slated to open on March 18, the flagship Banyan Tree Veya Phuket offers a wellbeing center featuring a unique White Room for meditative practice, traditional herb farm-pharmacy workshop and villas quipped to allow wellness practices inside the room (including yoga mats, sound therapy bowls and exercise stretch bands). The brand was created in 2021 in direct response to the pandemic to address people’s need for wellbeing. Three Banyan Tree Veya properties are in the pipeline for this year in Thailand, the Maldives and Mozambique.
Hilton to debut in Cannes: With plans to open over 20 new hotels in France over the next few years, Hilton has confirmed a franchise agreement with Cannes, France-based SNC Société d´Exploitation Nouvelle du Soleil d´Or, a subsidiary of SDPNE, to open a new hotel under its Canopy by Hilton brand in Cannes, France. Slated to open in 2023, the 143-room Canopy by Hilton Cannes will be Hilton’s first property in the city and second Canopy property in France. Located close to the city’s beaches, Old Port and the famed Palais des Festivals, the hotel will feature balconies and sea views of the French Riviera, a 400 square meter rooftop terrace, bar and restaurant and 380 square meters of meeting space. The new hotel will join 20 hotels currently trading under Hilton brands in France. Currently, there are 35 open Canopy properties globally, with 28 under development in 16 countries.
Pictet acquires Kimpton Aysla Mallorca: Pictet Alternative Advisors, Geneva, Switzerland, has acquired the Kimpton Aysla Mallorca hotel in Calviá in the Balearic Islands of Spain, which is expected to open later this year. The transaction, formalized as a turnkey sale and advised by Colliers, has been made through a joint venture with the present owner, in which Pictet has a majority stake. IHG will manage the property, which will mark Kimpton’s first vacation property in Spain and second in Spain after Kimpton Vividora Barcelona. The hotel will feature two outdoor swimming pools, an indoor pool, spa and wellness area, a gym and meeting and convention rooms.
Kuala Lumpur market outlook: While Kuala Lumpur’s performance fell 16% YOY in 2020 due to the pandemic, 2021 performance witnessed a turning point with RevPAR standing at MYR58 (US$13.77), reflecting a 16% rise YOY, according to the ‘Kuala Lumpur Hotel Market Outlook & Prospects 2022’ by CBRE Research. December 2021 RevPAR peaked at MYR118 (US$28.02), the highest since the pandemic hit in April 2020. As per STR’s AM:PM report, 65 new hotels opened in Kuala Lumpur between 2011 and 2021, growing at a CAGR of 3.8% per annum. Almost 5,000 rooms are slated to launch this year. Till 2021, the room supply in the city consists of 23% economy, 19% mid-scale, 15% upper mid-scale, 22% upscale, 12% upper upscale and 8% luxury. Luxury and upper upscale is expected to account for more than 60% of the new supply over the next three years. The two most active groups in the pipeline are Accor and IHG, with 2,710 rooms across nine hotels and 2,158 rooms across seven hotels, respectively. They constitute for a combined 36% of the overall pipeline.
Google tool for hoteliers: Google has launched new tools to help hoteliers find people when they’re planning to book their next trip. Free hotel booking links, which was launched on google.com/travel in 2021, will now be displayed on the search results and Google Maps to help travel partners expand their search and give consumers more options. After clicking on these links, travelers can complete their booking directly on the partner’s website. Individual hotels can share rates directly via their Google Business Profile to take part in free hotel booking links. Local posts for Google Business Profile will enable owners to share updates about any changes due to COVID-19, including information on whether the hotel is open or closed, updates on changed amenities/policies, descriptions of special features available and compelling images and videos. New features include free click reporting (which allow partners to understand customer traffic being routed through Google) and rates via business profiles (hotels can provide information about rates and availability directly to Google).