Hyatt-Gencom partner in Miami: A subsidiary of Hyatt Hotels Corp. has sold the leasehold interest in the 615-room Hyatt Regency in downtown Miami for US$12.54 million to HRM Owner LLC, a 50-50 venture between Chicago-based Hyatt and Miami-based Gencom. The partnership reportedly could redevelop the property.
First W Hotel in Macau: Marriott International has signed an agreement with Melco Resorts & Entertainment, Hong Kong, to launch the W Hotels Worldwide brand in Macau. Slated to open in December, the W Macau — Studio City will comprise 557 rooms, including 127 suites, and will be located in Studio City Phase 2, a multi-complex development which features indoor and outdoor water parks, MICE facilities and cineplexes. The hotel will feature two destination dining venues and a W Sound Suite, the brand’s signature recording studio. Marriott currently operates nine properties and residences under the W Hotels brand in Greater China.
St. Barths plans dealt blow: A plan by Denise Dupré, the wife of an ex-Domino’s Pizza CEO and private equity mogul Mark Nunnelly, to build a US$170 million resort in St. Barths has been halted by local authorities who canceled the building permit because of the environmental impact the project would have on St.-Jean Beach. If Dupré’s SAS Saint Jean Beach Real Estate wants to continue the project, it will have to start over. St. Barths Essentiele, a nonprofit environmental group backed by some of the biggest homeowners on the island, alleged that the development plan would irreversibly damage the bay.
November data: HotStats reported November data with GOPPAR in the U.S. coming in at US$55.68, a big jump versus the previous year but still down 29.4% versus November 2019. However, ADR in the month was US$7 higher than at the same time in 2019, which helped drive both RevPAR and TRevPAR, which were both up triple digits over 2020, though still down considerably versus 2019. After steady incremental growth in Europe since April, November took a turn downward as GOPPAR dropped back to €32.59, which though well above the 2020 level was still 41% down versus November 2019. Like the U.S., Europe has been able to retain rate, which was a full €10 higher than in 2019. On the expense side, payroll remained €12 down versus 2019 on a per-available-room basis, helping lead to a flow-through of close to 50%. In China, ADR remained above 2019 levels, but occupancy remained below 50%, leading to RevPAR of US$41, which was 28% lower than at the same time in 2020. Total revenue similarly was down 25% year-over-year. The drop in revenue, despite a still lower cost base, led to GOPPAR of US$11, which was 64% lower than November 2020 and 75% lower than in November 2019. Dubai continued to flourish with Expo 2020 as strong occupancy (86%) and ADR ($264) led to RevPAR and TRevPAR up over the same time in 2019, 41% and 21%, respectively. GOPPAR of US$178.46 was a gaping 522% higher than at the same time in 2020 and 54% higher than November 2019.
Selfridges to become hotel brand?: Central Group, Bangkok, has acquired Selfridges, the iconic luxury British department store chain, in a deal that is reportedly valued at £4 billion (US$5.4 billion). The Thai mall owner also owns department stores like Globus, Rinascente and Illum in Europe along with Austrian investor Signa and is expected to takeover 18 out of the 25 Selfridges stores. Central Group has seen potential for expansion of Selfridges and plans to foray into the luxury hotel industry and ramp up sales to €8 billion (US$9 billion) through the retailer’s e-commerce business. Founded in 1908, the Selfridges Group has stores across the world, including in Ireland, Canada and the Netherlands.