CORDISH ACQUIRES DIAMOND JACKS CASINO: The Cordish Companies have agreed to acquire Diamond Jacks Casino & Hotel in Bossier City, La. Cordish will redevelop the property, which has remained closed since March 2020, into a Live! Casino resort and entertainment destination, and to replace the existing riverboat with the launch of a land-based casino. This marks Cordish’s expansion across the South Central and Southeast U.S. regions. The group has more than $1 billion under construction adjacent to its ongoing Live! Development in the Arlington Entertainment District in North Texas, and more projects in Alabama, Florida, North Carolina, Tennessee and Georgia.
ACCOR LAUNCHES IN ZIMBABWE: Accor has partnered with Mambano Hotels Ltd. to announce its first hotel in Zimbabwe. Mbano Manor Hotel Victoria Falls by Mantis will rebrand under the Mantis Collection in June. The luxury boutique property opened in 2020, is surrounded by a bird and tree sanctuary and features 18 suites and a presidential villa. Mbano Manor Hotel was founded, built and managed by Dr. Matifadza Martha Nyazema and her team. The hotel will operate by Accor’s environmental and energy efficiency reporting tools, internal carbon price minoring, brand standard sustainability criteria and eco-certification programs. Accor’s Mantis brand is rooted in conservation and combines responsible tourism, conservation and adventure.
U.S. PERFORMANCE UPDATE: Typical to spring break patterns, hotel performance in the U.S. saw mixed comparisons from last week, according to STR’s data through April 1.
- Occupancy: 66.2% (+3.4%, -3.5%)
- ADR: $158.40 (+7.3%, +19.9%)
- RevPAR: $104.78 (+10.9%, +15.7%)
Among the Top 25 Markets, Washington, D.C., posted the highest YOY increase in occupancy (+18.2% to 78.7%), while Dallas saw the highest occupancy lift over 2019 (+6.2% to 73.0%). Houston recorded the most significant ADR growth YOY (+25.8% to $133.50), while Phoenix witnessed the highest ADR rise over 2019 (+49.4% to $232.54). Las Vegas posted the highest RevPAR increase compared to 2019 (+49.8% to $168.41), while Washington, D.C., recorded the largest YOY rise in the metric (+44.1% to $165.44). The steepest RevPAR declines from 2019 was registered in Minneapolis (-37.4% to $66.73) and San Francisco (-27.5% to $123.96). New Orleans saw the highest RevPAR decline YOY (-26.4% to $125.83).
PREFERRED TRAVEL GROUP RELAUNCHES LOYALTY PROGRAM: Preferred Travel Group, the family-owned company which operates Preferred Hotels & Resorts, Beyond Green, Historic Hotels of America and Historic Hotels Worldwide, is relaunching the I Prefer Hotel Rewards, the global loyalty program for independent hotels, with the introduction of a standalone website and enhanced mobile app and other enhancements. This includes extended redemption opportunities and other offers, which members can access upon complimentary enrolment. The new website and app will unveil the program’s new look and feel while featuring a new member dashboard and other elevated services, like an improved search option to explore participating hotels and a more intuitive booking journey for stays at over 650 participating properties globally.
MERCURE TO MALAYSIA: With the opening of the Mercure City Centre in Miri, Sarawak, Accor launched its Mercure brand in Malaysia. Set to become a regional flagship for the brand, the hotel comprises 172 rooms, two dedicated floors of the conference and banqueting facilities, co-working space, two dining venues and a café and gelato parlor. The hotel also eliminates all single-use plastics from all areas of the hotel.