IHG’s new campaign: IHG Hotels & Resorts has launched a global marketing campaign — Guest How You Guest. The campaign launched in the U.S. and the U.K. on July 27 and will be launched globally later this year. It marks the company’s biggest single campaign investment in the last decade. The multi-million-dollar campaign brings to life the brand’s reimagined loyalty program, IHG One Rewards, as well as all 17 brands and over 6,000 hotels globally.
Hawkeye Hotels grows: Hawkeye Hotels, Coralville, Iowa, has acquired Hotel Indigo Pittsburgh East Liberty in Pittsburgh, Pennsylvania. The latest addition marks Hawkeye Hotels’ third owned and operated hotel in Pennsylvania. The company is expanding into the northeast after acquiring, developing and operating dozens of properties in more than 20 U.S. states.
Pandox to acquire in Brussels: Pandox AB, Stockholm, Sweden, has entered into an agreement to acquire the 246-key NH Brussels Louise in Brussels, Belgium, for €35 million (US$35.76 million). The hotel is currently owned and operated by Spanish hotel chain NH Hotel Group. The transaction is financed with cash and existing credit facilities and is scheduled to close in Q4 2022. Pandox is evaluating the best commercial alternative for the hotel, which will initially be reported under the Operator Activities business segment. Currently, Pandox owns eight properties in Brussels, of which six are in Operator Activities and two in Property Management with BH Hotel Group as tenant.
Pebblebrook closes sale of Sofitel Philadelphia: Pebblebrook Hotel Trust, Bethesda, Maryland, has closed the sale of the 306-key Sofitel Philadelphia Rittenhouse Square in Philadelphia, Pennsylvania, for US$80 million to an undisclosed third party. Proceeds from the sale will be used for general corporate purposes and will help reduce the company’s outstanding debt borrowings associated with recent hotel acquisitions. For the trailing 12 months ended June 30, the hotel’s net operating income was US$3.1 million and its hotel EBITDA was US$3.8 million. Based on the hotel’s 2019 operating performance, the sale price shows a 10x EBITDA multiple and an 8.6% net operating income capitalization rate. The net operating income for both periods was an assumed annual capital reserve of 4% of total hotel revenues.
Canada’s pipeline rises marginally: With 261 projects/35,662 rooms, the total construction pipeline in Canada at the close of Q2 saw a rise of 3% by projects YOY and room counts increasing by 7%. Currently, there are 59 projects/7,657 rooms under construction. Projects scheduled to start construction in the next 12 months saw a 32% rise with 98 projects/13,707 rooms. Projects in the early planning stage are at 104 projects/14,298 rooms. Canada saw 10 new hotel openings, accounting for 1,053 rooms, in the first half of the year.
Top 3 provinces with most projects
Ontario: 148 projects/20,539 rooms
British Columbia: 42 projects/6,868 rooms
Alberta: 23 projects/2,125 rooms
Top 5 cities with most projects
Toronto: 64 projects/9,262 rooms
Vancouver: 18 projects/2,661 rooms
Montreal: 14 projects/2,038 rooms
Niagara Falls: 12 projects/3,797 rooms
Ottawa-Hull: 10 projects/1,693 rooms
Top 3 franchise companies
Marriott International: 73 projects/10,096 rooms
Hilton: 64 projects/7,682 rooms
IHG: 42 projects/4,325 rooms
Charlestowne Hotels adds 2: Charlestowne Hotels, Charleston, South Carolina, has expanded its footprint with the addition of Hotel Marcel in New Haven, Connecticut, and Lockwood Hotel in Waterville, Maine. An adaptive reuse project which was transformed into a 165-key hotel, Hotel Marcel is slated to become the country’s first sustainable net-zero energy hotel. The building earlier housed the R&D facility for Armstrong Rubber Co. The hotel has over 1,000 photovoltaic panels which generate solar power that provides energy required to run the property. The building, which is listed on the National Register of Historic Places, also features a restaurant and 12 Tesla Supercharger stations. The 53-room Lockwood Hotel will open on August 15. The hotel is part of Colby College’s commitment to revitalize the downtown.