Nobu to Vietnam: Nobu Hospitality, New York City, has partnered with Viet Capital Real Estate, Ho Chi Minh City, Vietnam, and Phoenix Holdings to announce the first Nobu Hotel, Restaurant and Residences in Danang, Vietnam. The luxury beachfront urban resort will consist of a 43-story tower, the tallest building in the city. The hotel will offer 200 rooms, including 18 suites, meeting space and wellness and fitness facility. The tower will also feature 271 residences offering one-, two- and three-bedroom units along with skyline penthouse units. Situated below the residences and hotel, the Danang City Centre podium will offer high-end retail shopping, a Vietnamese fine-dining restaurant, an American steakhouse and an upscale Chinese restaurant. The building will also include a cocktail bar and lounge on the rooftop.
First Wyndham Grand in Mexico: Wyndham Hotels & Resorts plans to open the Wyndham Grand Cancun All-Inclusive Resort & Villas through a franchise agreement with Grupo Cancun on November 1. The resort is the first Wyndham Grand in Mexico and joins 65 Wyndham Grand properties globally. The oceanfront resort offers 364 rooms, suites and villas, seven restaurants, five bars, four pools, a spa, gym, retail shops, beach club, tennis courts and more.
Ennismore signs in New Zealand: Ennismore, London, has signed four new hotels in New Zealand in concert with Auckland, New Zealand-based CP Group. The new openings include a JO&JOE in Auckland, two TRIBE hotels in Auckland and a Hyde in Queenstown. The properties will open across 2023-24 and grow Ennismore’s presence in the Pacific, which currently comprises TRIBE Perth and SO/ Auckland, with SO/ Melbourne, Mondrian Gold Coast and 25hours Sydney scheduled to open between 2023-25. Ennismore’s global portfolio currently consists of 101 operating properties across 14 brands and 137 more in the pipeline and over 150 restaurants and nightlife destinations.
Corry Oakes of OTO Development dies: Co-founder and CEO of Spartanburg, South Carolina-based OTO Development Corry Oakes III died on Sunday. A native of Lawrenceville, Georgia, Oakes held roles of increasing responsibility with WJB Blockbuster Video and then Extended Stay America, where he served as president and CEO. OTO Development was founded on the same day the sale of Extended Stay America to Blackstone was closed. An alumnus of Wofford College in Spartanburg, Oakes served as a member of Wofford’s Terrier Club Board of Directors, President’s Advisory Board and Wofford College Board of Trustees from 2009 to 2021. He served as chairman of the Board of Trustees from 2019 to 2021. He is survived by his wife and their three daughters Ashley, Elizabeth and Lauren.
Hyatt beats in Q2: Hyatt Hotels Corp. reported 2Q22 earnings with net income of US$206 million, or US$1.85 per diluted share, compared to a net loss attributable to Hyatt of US$9 million, or US$0.08 per diluted share, in 2Q21. Adjusted net income was US$51 million, or US$0.46 per diluted share, in 2Q22, compared to adjusted net loss of US$117 million, or US$1.15 per diluted share, in the 2Q21. Fee revenue exceeded US$200 million and was 27% higher than any other quarter in the company’s history, driven by a record level of leisure transient revenue and rapidly improving group and business transient demand, said Hyatt President and CEO Mark Hoplamazian. Comparable RevPAR increased 82% to US$130.16 and comparable U.S. RevPAR increased 85% to US$150.52 in 2Q22. Net rooms growth was 19% in 2Q22. Excluding Apple Leisure Group, net rooms growth was 4.6%. Pipeline of executed management or franchise contracts was approximately 113,000 rooms. Hyatt also recently acquired the 541-room Hotel Irvine in California for US$135 million from an unrelated third party. It is also marketing two hotels for sale.
IHG’s first half rebound: IHG reported improved trading in 2Q22 with Americas RevPAR +3.5% versus 2019, while EMEAA still ran at -10.3% and China at -48.9% versus the 2019 benchmark. Operating profit from reportable segments of US$377 million was +101% versus 2021, (-8% v. 2019). In the first half of the year, ADR was +24% versus 2021, up 4% versus 2019, while occupancy was up 10 percentage points versus 2021 (-10% v. 2019). IHG opened 14,900 rooms (96 hotels) in the 1H22 and the global estate now sits at 883,000 rooms (6,028 hotels). Signed rooms in the first half of the year sat at 30,700 rooms (210 hotels); the global pipeline is now at 278,000 rooms (1,858 hotels). IHG also reintroduce an interim dividend at a level 10% higher than when last paid and launched an initial US$500 million share buyback.
Absolute Hotel Services launches new collection: Absolute Hotel Services, Bangkok, Thailand, has launched a white label management portfolio, Absolute Collection, with the signing of Paasha Atelier Bali, Indonesia. The 175-room project consists of redevelopment of an existing resort, which will be relaunched as Paasha Atelier Bali after renovation and is scheduled to reopen later this year. Absolute Hotel Services offers individual properties under Absolute Collection with project management guidance and development services. Absolute Collection properties will be divided into three categories — Design, Relax and Dynamic. Paasha Atelier Bali will be a part of the Relax collection of family-friendly leisure properties. The company said it has had discussions for more Collection openings across Thailand, Vietnam, Laos, India, Indonesia and the Maldives.
International visitor spend in US jumps 95%: International visitors spent over US$13.2 billion on travel to and tourism-related activities within the U.S. in June, an increase of around 95% compared to June 2021, according to data released by the National Travel and Tourism Office. Americans spent US$12.5 billion on travel abroad, yielding a balance of trade surplus of US$670 million in June 2022, the eighth consecutive month during which the U.S. enjoyed a balance of trade surplus for travel and tourism. From January to June, international visitors have spent over US$68.8 billion on U.S. travel and tourism-related goods and services an increase of around 105% compared to June 2021). Cumulative travel exports of US$68.8 billion through the first six months of this year were 57% of the US$120.5 billion of travel exports in the first six months of 2019. Purchases of travel and tourism-related goods and services by international visitors was US$7 billion in June (compared to US$2.4 billion in June 2021), an increase of 195% when compared to the previous year.
Dubai attracts 7.12M visitors: Dubai attracted 7.12 million international visitors between January and June, posting over 183% of growth in visitors compared to the 2.52 million tourists in the same period in 2021, as per Dubai’s Department of Economy and Tourism. Average occupancy for the hotel sector was 74%, one of the world’s highest, compared to 62% in H1 2021, a difference of 12 percentage points and just short of the 76% occupancy level registered during H1 2019. This was achieved in spite of a +19% increase in room capacity over the same period in 2019. Dubai’s hotel inventory by the end of June 2022 comprised 140,778 rooms open at 773 hotels, compared to 118,345 rooms available at the end of June 2019 across 714 establishments. Meanwhile, the total number of hotels in H1 2022 grew 8% over H1 2021. Hotels delivered a combined 18.47 million occupied room nights during the first six months of the year, a +30.4% YoY growth, and a +18% increase over H1 2019. In addition, ADR of AED567 (US$154.34) in the first half of the year surpassed the ADRs for both H1 2021 (AED382/ US$103.98) and 2019 (AED444/ US$120.86), with 48.5% and 28% YoY growth, respectively.
First Hospitality relocates: First Hospitality has announced the shifting of its headquarters from the Chicagoland suburbs to a space in downtown Chicago, Illinois, to accommodate the company’s growing hybrid workforce. The new office space will offer more efficiencies and will be used to support its portfolio. The new office building, known as The Franklin, offers a tenant-only sky bar and five different in-house food options including a food hall.