Hilton completes spinoffs: Hilton Worldwide completed the spin-offs of Park Hotels & Resorts and Hilton Grand Vacations. Park and HGV will begin trading on the New York Stock Exchange today.
Read more on the Street Insider
Trump heading to trial? U.S. President-elect Donald Trump and chef Geoffrey Zakarian are probably headed to trial over Zakarian’s cancellation of a restaurant at Trump’s Washington, D.C., hotel. Trump is expected to sit for a seven-hour deposition this week in a related case with chef Jose Andrés.
Element in Malaysia: Marriott International will introduce Element Hotels in Kuala Lumpur, Malaysia, in March. It’s the first of the brand in Southeast Asia. The owner is IB Tower Sdn Bhd.
Savannah Suites sold: Condor Hospitality Trust, a hotel REIT, sold the 164-room Savannah Suites in Atlanta for US$3 million. The buyer was not disclosed.
Read more in the Atlanta Business Chronicle
A&O sale completed: TPG completed the purchase of A&O Hotels and Hostels (“A&O”), the largest fully integrated, privately-owned, hostel platform in Europe. TPG will acquire 31 leased and owned assets, with more than 20,000 beds located primarily in Germany. Key members of A&O’s management team, including CEO Oliver Winter, will continue to lead the company after the transaction.
Strong 2017 predicted: TravelClick’s December 2016 North American Hospitality Review says that all travel segments are experiencing healthy rate and occupancy gains year-over-year, with occupancy increasing 5.0% and ADR increasing 3.2% in the first quarter of this year. The last quarter of 2016 shows positive, but tepid, growth across the board, the group says.