Radisson grows in Vietnam: Radisson Hotel Group has signed a beachside hotel deal in Mui Ne in Vietnam. Slated to open in Q3 2023, Radisson Resort Mui Ne will comprise 128 rooms and suites. Radisson operates four properties in Vietnam, including Da Nang, Cam Ranh, Phu Quoc and Phan Thiet.
Accor signs Mövenpick in Indonesia: Accor has signed a new-build, 310-key Mövenpick-branded hotel in Jakarta, Indonesia. The Mövenpick Jakarta International Airport is slated to open in late 2026. Currently, Accor has 128 operating properties across 15 brands in Indonesia. The company plans to open 38 more hotels across Southeast Asia this year, of which 11 will be located in Indonesia. Accor has a development pipeline of 52 projects in Indonesia.
US performance update: Performance of hotels across the U.S. declined from the previous week while indexed comparisons against 2019 improved thanks to a holiday calendar shift, as per STR’s data through July 2.
- Occupancy: 67.3% (+2.9%)
- ADR: US$153.32 (+19.7%)
- RevPAR: US$103.24 (+23.1%)
Based on historical trends, the week-over-week dip in demand was normal given the holiday. The Fourth of July, or the observance of the holiday, since 2000 has fallen on a Monday seven times and in every case, occupancy during the week before the holiday dipped by over four percentage points with most of the losses starting on Wednesday and continuing into the weekend. Occupancy and demand are projected to decline in the current week before improving in the remaining weeks of July. Among the Top 25 Markets, New Orleans witnessed the largest occupancy increase over 2019 (+16.5% to 73.7%), followed by Chicago, with a 15.1% gain to 73.5%. Denver (85.7%), Oahu Island (83.4%) and San Diego (81.9%) led the major markets in absolute occupancy for the week. Miami posted the largest occupancy decline (-9.8% to 65.7%), while Chicago reported the largest ADR gain (+49% to US$170). Largely because of ADR increases, each of the Top 25 markets saw RevPAR higher than the 2019 comparable.
Meetings and events jump 334%: Meetings and events in June surged significantly by 334% over June 2021, revealed Knowland’s latest monthly meetings and events data. June 2022 rebounded from May 2022 with a 16.6% rise month-over-month. The average number of attendees per event in June was 117, compared to 59 in June 2021 and 89 in June 2019. The average space used in June was 3,073 square feet, while in June 2021 it averaged to 2,509 square feet and 3,710 square feet in June 2019. The top five growth markets (compared to May) were Chicago, Boston, Los Angeles, Cleveland and Salt Lake City. The corporate sector accounted for a 62.2% of meeting and event business with technology, healthcare and financial/banking leading as the biggest industry groups. Compared to June 2019, online retailer urban infrastructure, sports entertainment/media, packing/shipping and tobacco were at the highest levels of recovery capture in June.
BGL completes US$33.4M financing for stadium: Brown Gibbons Lang & Co. (BGL), Cleveland, Ohio, has closed the US$33.4 million financing for the Tom Benson Hall of Fame Stadium at the Hall of Fame Village powered by Johnson Controls in Canton, Ohio. The project was financed through Stonehill PACE’s retroactive Commercial Property Assessed Clean Energy program. The real estate advisor team of BGL served as the exclusive financial advisor to the Hall of Fame Resort & Entertainment Co. in the deal. The Hall of Fame Resort & Entertainment Co., headquartered in Canton, was created following the merger between HOF Village — a partnership between the Pro Football Hall of Fame and Industrial Realty Group — and Gordon Pointe Acquisition Corp. The masterplan of the Hall of Fame Village is spread across three phases. The first phase is complete and includes the renovated DoubleTree by Hilton Canton Downtown hotel. Phase II, which is underway, will include a Hilton Tapestry Hotel. The third phase, which is in the early planning stages, will include additional dining, lodging, apartments and other accommodations. This is the third PACE financing completed for the sports destination, with US$10.7 million leveraging the Constellation Center for Excellence, a 75,000-square-foot mixed-use office and retail development, and the Center for Performance, a 100,000-square-foot exhibition hall and athletic performance area.
Airbnb initiative to support remote work: Airbnb will partner with 20 destinations globally to create dedicated custom-built hubs for aspiring remote workers. Destinations, which range from entire countries (Colombia, Malta, Thailand, etc.) to smaller cities and towns across the U.S., Italy and France, have been selected and will launch this year based on their appeal to remote workers and advancement in changing policies for travelers. Earlier this year, the online platform launched the Live and Work Anywhere initiative to identify global remote worker-friendly destinations and support governments and Destination Marketing Organizations to help revive tourism and economically support communities after the pandemic-induced travel restrictions. Airbnb will showcase local long-term stay listings and other important information regarding tax policies and entry requirements. The initiative follows Airbnb’s own remote-working policy within the organization.
Foreigners to pay more than locals at Thai hotels?: Thailand is considering increasing hotel rates to pre-pandemic levels for foreign travelers to drive a faster recovery of the hospitality industry. The government is planning to hold talks with the Hotel Association of Thailand and implement a dual-tariff structure where Thais will continue to avail discounted rates while foreign travelers will be charged rates similar to pre-pandemic figures. Hotels and resorts in tourist hotspots, like Phuket, Bangkok, Koh Samui and Krabi, have been offering deep discounts to attract visitors after room occupancy rates during the pandemic dropped to 30% to 40% of pre-pandemic levels.
Ritz-Carlton launches wellness journeys: The Ritz-Carlton has collaborated with the U.K.-based luxury skincare brand ESPA to launch Meaningful Wellness Journeys, a wellness concept which provides customized wellness-centric journeys. The journeys will be based on three key wellness pillars — mind,body and skin. Each treatment will be tailored to the guest in line with Forbes standards. Each journey will include pre-treatment touchpoints within the spas. Guests will also receive post-treatment cards with tips and techniques for their wellbeing and mindfulness at home. There will also be full-day wellness retreats on offer at select Ritz-Carlton Spas, allowing guests to choose three spa treatments from the spa menu and two wellness experiences for mind, body or skin. The journeys will initially be available across select Ritz-Carlton spas globally.
International arrivals to South America to recover by 2024: International travel to South America fell from 35 million visitors in 2019 to only 3.3 million in 2021 as a result of the pandemic, indicating that the region lost US$49.2 billion in tourism spend in the last two years, according to latest research by GlobalData. However, there has been a sudden revival of international visitors and country is projected to return to just over its 2019 levels by 2024. International tourism is expected to recover to 35.5 million visitors by 2024, with tourism likely to bring in US$32.9 billion during the year. Despite travel restrictions continuing in 2021, Colombia witnessed a 11% YOY increase in international visitor arrivals, surpassing Brazil and Argentina to emerge as the most visited South American destination in 2021. Guyana, meanwhile, was the only other country in the region to see a growth in international arrivals as the numbers rose by 16.4% YOY.