More women in leadership roles: Women are gaining representation in leadership roles in hotel companies and while they’re still skewed in favor of men, women now hold one leadership position for every 10.3 men, improving from one to 11.2 in 2019, revealed the Fifth Annual Women in Hospitality Industry Leadership Report by Castell Project. The research is supported by the AHLA Foundation. At manager/director levels, women hold one in three hospitality brokerage positions and one in six at the VP/SVP/EP level. The number of male VP/SVP/EVPs at hotel investment conferences remained the same materially, while the number of women doubled. Broker representation increased from one woman to 10.1 men in 2017 to one woman to 7.2 men in 2021. According to CREW Network, more women hold brokerage positions than ever before (29%), a 6% rise from 2015. Women speak at 22% of hospitality investment conference podiums, a 16% rise from 2017.
Stoneweg, Bain Capital JV in Marbella: Stoneweg Hospitality, Geneva, and Bain Capital Credit have signed an agreement through their real estate hospitality joint venture to acquire the group of companies that owns and operates the 178-key Hotel Los Monteros Spa & Golf Resort in Marbella, Spain. This is the joint venture’s second investment in the Marbella area, after the purchase of the Andalucia Plaza Hotel in Puerto Banus in 2021, which is being transformed into Hard Rock Marbella. Mostly featuring suites, the 5-star Hotel Los Monteros Spa & Golf Resort includes El Corzo, Spain’s, first hotel restaurant to have received a Michelin Star. The resort is set to undergo refurbishments.
Canada pipeline dips 3%: Canada’s hotel construction pipeline dipped 3% by projects and up 2% by rooms YOY in Q4 2021 and stands at 262 projects/35,325 rooms, according to Lodging Econometrics. At the end of 2021, projects under construction stood at 62 projects/8,100 rooms. Projects scheduled to begin construction in the next 12 months stood at 85 projects/10,536 rooms and projects in the early planning stage was at an all-time high in 4Q21 with 115 projects/16,689 rooms, increasing by 15% by projects and 14% by rooms YOY. Ontario continues to lead the country’s construction pipeline in the quarter, reaching the province’s highest project count since Q4 2019, with 154 projects/19,818 rooms. The province accounts for 59% of projects and 56% of the rooms in Canada’s total pipeline, followed by British Columbia (37 projects/5,675 rooms), Alberta (24 projects/3,739 rooms) and Quebec (18 projects/2,481 rooms). The top hotel franchise company in Canada’s construction pipeline is Marriott International, at all-time high of 71 projects/8,890 rooms. Hilton follows closely with 65 projects/7,870 rooms, then InterContinental Hotels Group with 47 projects/4,732 rooms. These three companies account for 70% of the projects and 61% of the rooms in the country’s total construction pipeline.
Hotel Okura’s serviced apartments in Jakarta: Tokyo-based Hotel Okura will operate a suite of serviced apartments in a Jakarta tower complex set to open in 2025. The tower will also feature Indonesia’s Okura-branded hotel, The Hotel Okura Jakarta, which will consist of 181 rooms spread across 13 floors. The 46-story mixed-use building, tentatively called The Okura Residences Jakarta, is being constructed by Mitsubishi Estate and Indonesian developers at a cost of 21.2 billion yen (US$183 million). The tower will feature 353 fully-furnished apartments across 31 floors, ranging in size from 75 square meter studios to 1,000 square meter penthouses with rooftop decks. Residents can access the hotel’s pools, fitness center and other facilities. The serviced apartment project is Okura’s second after a project under development in Yangon, Myanmar.
Rising demand for branded residences: More than one in three prime international buyers (39%) will be willing to pay a premium for a branded residence, according to the Branded Residences 2022 report by Knight Frank. These premium usually range between 25% and 35% comparable to a non-branded product, but can rise to 132% in some Asian cities. Around 34% of buyers said above and beyond services and amenities offered was their significant motive for purchasing a branded residence. Marriott International is continuing its global expansion with the recent announcements of the largest-ever branded residence project in Ho Chi Minh City, Vietnam, set for 2024. Marriott has also been moving towards standalone branded residences and according to the company it now forms 12% of its portfolio, and 25% of what is in their pipeline.
IHG’s luxury portfolio to grow to over 50 hotels: The luxury and lifestyle portfolio of IHG Hotels & Resorts is expected to launch more than 50 hotels across 24 counties this year, the company said. Six Senses Hotels Resorts Spas expects to open four resorts and spas, while Regent Hotels is expected to grow to more than 40 hotels in key global gateway cities, opening two properties this year — Regent Phu Quoc and Regent Hong Kong. InterContinental Hotels & Resorts will be debuting 10 properties this year, while Kimpton expects to open seven. Hotel Indigo plans to expand into 26 neigborhoods in the Americas, including three hotels in New York City. Hotel Indigo will also open four new hotels in Europe and the Middle East, two in Australia and more destinations in Asia. The Vignette Collection plans to add 100 properties globally over the next 10 years and will soon be welcoming properties in Bangkok, Vienna and two properties in Algarve.