Homeinns in JV: Homeinns Hotel Group affiliate of BTG Hotels (Group) Co., Ltd. of Shanghai and Hyatt Hotels Corp. entered a strategic joint venture to create a new hospitality brand. The as-yet-unnamed brand is aimed at China’s upper-midscale segment. Homeinns operates an economy chain of about 3,900 hotels in more than 400 cities and has developed about 600 midscale hotels across China, including its Yitel Premium, Homeinnplus and Homeinn Selected brands.
“There is a definite opportunity for us to make a mark in the growing upper-midscale segment,” said David Sun, general manager of BTG Homeinns Hotels Group, chairman & chief executive officer of Homeinns Hotel Group. “This collaboration is expected to provide Hyatt with deep China insights, build brand awareness and grow loyalty with a new set of travelers,” said Stephen Ho, president of Greater China, global operations, Hyatt. The Chicago-based company has 70 hotels and a pipeline of more than 100 properties in Greater China and “is committed to a long-term strategy of purposeful growth in the region,” he said.
The JV is expected to unveil hotels under the new brand in cities such as Shanghai, Beijing, Guangzhou, Shenzhen and elsewhere in China in the next five years. The new brand will be managed independently.
Regional January performance data: Here’s a roundup of key regions with January year-over-year results, via STR.
Central/South America
- Occupancy: -0.9% to 55.7%
- ADR: -2.0% to US$99.35
- RevPAR: -2.9% to US$55.32
Asia Pacific
- Occupancy: -1.3% to 65.9%
- ADR: +0.6% to US$102.53
- RevPAR: -0.7% to US$67.52
Middle East
- Occupancy: -0.9% to 68.2%
- ADR: -8.9% to US$154.18
- RevPAR: -9.6% to US$105.16
Africa
- Occupancy: +0.3% to 53.4%
- ADR: +2.1% to US$120.06
- RevPAR: +2.4% to US$64.06
Europe
- Occupancy: -0.1% to 58.1%
- ADR: +2.5% to €99.56 (US$113.01)
- RevPAR: +2.4% to €57.81 (US$65.62)
Four acquired in Australia: AXA International has acquired four hotels in Sydney and Canberra for a combined A$330.4 million (US$236.6 million). It’s reportedly the biggest deal in Australia’s hotel sector to date. AXA is buying the Abu Dhabi Investment Authority’s 177-room Novotel Sydney Olympic Park, the 212-room Pullman at Sydney Olympic Park and 144-room ibis Sydney Olympic Park, and the 286-room Novotel Canberra. The Olympic Park hotel portfolio is operated by Accor.
Read more in the Sydney Morning Herald
Centric in L.A.: A new mixed-use, 21-story property being developed in Los Angeles by hospitality and real estate developer Leo Lee will include a 192-room Hyatt Centric. Set to open in mid-2020 and designed by Large Architecture and HBA, it’s the brand’s entrée into the Los Angeles metropolitan market.
Hilton’s first in Grand Cayman: Hilton signed an agreement for a new Curio Collection by Hilton property in the Cayman Islands with NCB Group. The new-build 80-room beachfront hotel is scheduled to open in 2021, with a focus on sustainability and wellness. Floorplans range from one to three bedrooms, which will also be available for purchase, with in-room fitness equipment and lighting that regulates circadian rhythm, the company said.
Trump’s foreign profits: The Trump Organization said it had donated US$191,000 in profits it received from foreign governments in 2018 to the U.S. Treasury, nearly 30% more than it reported the previous year. “In fact, we go to great lengths to discourage foreign government patronage at our properties,” Trump Organization executive Eric Trump said in a statement, according to the Wall Street Journal. The company does not specify how it calculates the profits.
Read more in the Journal (registration required)