LaSalle, NUMA Group partner: La Salle Investment Management has entered into a strategic partnership with NUMA Group to launch a €500 million (US$534 million) pan-European hotel aggregation strategy. The partnership, which forms a part of LaSalle’s Value-Add Investments business line, will acquire, renovate and operate vacant or soon-to-be vacant urban hotels, serviced and extended-stay apartments, boutique hotels along with conversion projects from non-institutional or unbranded owners and owner-operators in Western European A cities. As part of the partnership, the properties will be managed, designed and operated by NUMA through its tech-enabled operating strategy. A pipeline of 15 properties in city centers across the U.K., Italy, Spain and the Netherlands, representing more than €450 million (US$480.63 million) in value, has been identified so far. The refurbishments are slated to take six to 18 months. Both the partners plan to integrate sustainability standards intended to achieve net zero carbon status by 2050.
Pueblo Bonito launches new brand: Pueblo Bonito Golf & Spa Resorts, Mexico, has launched a new upscale brand — Pueblo Bonito Vantage. The new brand will offer upscale accommodations, oversized suites and enhanced amenities. The brand will debut with the 111-key Pueblo Bonito Vantage San Miguel de Allende in Mexico, which is currently under construction and is expected to open in the first half of 2023. The hotel will include a gourmet restaurant including a rooftop bar and banquet space along with 45 full ownership residences. Next in the planning stages is the Pueblo Bonito Vantage Los Cabos at Punta Maroma.
Espire Hospitality to launch new brand: New Delhi-based Espire Hospitality Group, the owning company of Six Senses Fort Barwara in Rajasthan, India, and owner and operator of Country Inn Hotels, announced plans to launch a luxury boutique resort brand in India called ZANA. The first property will be a 30-key lakeside resort in Udaipur, Rajasthan. Espire plans to open 20 properties in the next two to three years.
Wyndham adds 4 in Bangkok: Wyndham Hotels & Resorts has opened four new hotels in Bangkok — Ramada by Wyndham Bangkok Sukhumvit 87, Ramada Plaza by Wyndham Bangkok Sukhumvit 48, Wyndham Bangkok Queen Convention Center and Wyndham Garden Bangkok Sukhumvit 42 — owned by Siamese Asset. All the four hotels are signed under a license agreement with Siamese and Kew Green Co. Ltd., a joint venture between local property developer Siamese Wealth Co. Ltd. and international hotel management operator Kew Green Hotels. With these new additions, Wyndham will have a total operating portfolio of 17 hotels across Thailand. The 200-key Ramada by Wyndham Bangkok Sukhumvit 87 and 200-room Ramada Plaza by Wyndham Bangkok Sukhumvit 48 are branded residences with exclusive hotel services. The 150-room Wyndham Bangkok Queen Convention Center opened on December 1, 2021 while the Japanese-inspired, 185-key Wyndham Garden Bangkok Sukhumvit 42 opened on December 15, 2021.
Industry’s priority on sustainability: Sustainability has become a priority in the global travel industry, with 89% of industry respondents saying that sustainability is already a priority for their company, revealed ‘The State of Sustainability in the Global Business Travel Sector’ study by the Global Business Travel Association. Only 14% of the respondents said the industry was well advanced on sustainability but improvements were being made as 76% of travel buyers have already added or were planning to add sustainability objectives in their travel policies. About 80% of global business travel industry reported having a sustainability team and/or a sustainability program in place and are already measuring (55%) and reporting (56%) on the environmental impact of their business travel activities. Around 90% if travel buyers and 88% if travel suppliers felt GBTA should play a role in guiding the industry in a shared sustainability journey.
Benchmark Pyramid adds to portfolio: Benchmark Pyramid has assumed management of the 126-key Hotel 83 in Raleigh, North Carolina. The company will oversee the conversion of the hotel, which was formerly an Origin Hotel, to a Tribute Portfolio Hotel, Marriott’s upscale brand of boutique, independent hotels. The conversion is expected to be completed by late summer. The seven-story hotel features 800 square feet of meeting space, a fitness center, retail area and a neighborhood restaurant.
Sonesta adds 4 in New York City: Sonesta International Hotels Corp. announced the investment in four boutique and lifestyle hotels in New York City totaling 918 keys — The hotels are all located in Midtown and were formerly known as The Benjamin, The Shelburne Hotel & Suites, the Gardens Suites Hotel and the Fifty Hotel & Suites. All of the hotels will be rebranded and operate as The Benjamin Royal Sonesta New York, The Shelburne Sonesta New York, The Gardens Sonesta ES Suites New York and The Fifty Sonesta Select New York. The hotels’ former owner was Denihan Hospitality Group, which will continue to own a minority interest in the hotels.
Millennium to open hotel in metaverse: Millennium Hotels & Resorts announced it will be launching M Social Decentraland on May 5, becoming the first hospitality group to operate a hotel in the metaverse. Modeled on different global M Social hotels, M Social Decentraland will be located near Genesis Plaza on prime digital land. Guests at the virtual hotel will be welcomed by an avatar in the lobby who will guide them on a journey of discovery. Those who are able to reach the top of Decentraland will stand a chance to win real world hotel surprises. Future integration will include links to the M Social website and special events to mark events through the year.
CoralTree grows in Florida: CoralTree Hospitality has expanded its portfolio with Tavistock Development Co. following the launch of the 2340room Lake Nona Wave Hotel, which opened in December 2021. CoralTree now also manages four of Tavistock’s Marriott-branded properties in Lake Nona in Orlando, Florida, which includes a Courtyard, Residence Inn, SpringHill Suites and a new Aloft Hotel which is slated to open in fall 2023. CoralTree has been working with Tavistock from late 2020 when the management company was in charge of opening Lake Nona Wave Hotel. These four additional brands account for 562 more rooms under CoralTree’s management.
EOS Hospitality to manage Florida resort: EOS Hospitality, New York, announced it has been selected to manage the Tranquility Bay Beachfront Hotel and Resort in Marathon, Florida. The waterfront property includes 87 private beach houses and 16 guest rooms. The property also features a 2.5-acre private beach and three swimming pools, a café and a beachside bar. Currently, EOS operates a portfolio of more than 40 hotels totaling over 6,000 keys.
Marriott has largest US construction pipeline: Marriott International led as the franchise company with the largest U.S. construction pipeline at the end of 1Q22 with 1,359 projects/171,820 rooms, followed by Hilton with 1,287 projects/146,579 rooms, and InterContinental Hotels Group (IHG) with 785 projects/79,095 rooms, per Lodging Econometrics. The three companies represent 67% of projects and 66% of rooms in the total U.S. construction pipeline. At the end of 1Q22, the franchise company with the most projects in the under construction phase of the pipeline is Marriott, representing 257 projects/37,496 rooms, for a total of 27% of the stage. Marriott is also the franchise company with the most pipeline projects in the expected to start in the next 12 months stage, with 661 projects/81,905 rooms. Hilton has the most projects in the early planning stage of the pipeline and is also hitting a record high for the company in this stage, with 710 projects/79,173 rooms. Hilton’s projects in the early planning stage make up 32% of this stage’s projects. During the first quarter of the year, 113 hotels with 12,464 rooms opened across the U.S., of which Marriott, Hilton, and IHG branded hotels accounted for 73% with 82 new hotel openings and 9,602 rooms.
IHCL reports 52% revenue growth: With a reported revenue of Rs. 955 crore (US$124.9 million) in Q4 FY2022, the Mumbai, India-based Indian Hotels Co. Ltd. (IHCL) reported a 52% increase over Q4 FY2021. Reported EBITDA of Rs. 242 crore (US$31.6 million) in Q4 FY2022 saw a dramatic jump of 192% from last year’s corresponding quarter. The company raised Rs. 4,000 crore (US$523.12 million) through rights issues and an additional Rs. 2,000 crore (US$261 million) through QIP. Roots Corp. Ltd., the company which operates the Ginger brand, has now become IHCL’s fully owned subsidiary. IHCL also announced the launch of Paathya, a six-pillared framework to drive the company’s social impact and sustainability measures. The company added that in 2021, it has recorded the highest number of new hotel signings in India for the second consecutive row, totaling 19 new properties. The company’s ama Stays and Trails homestay portfolio has grown to more than 80 properties across India.