Tata Group exec resigns: Rakesh Sarna, the managing director and chief executive of Indian Hotels Co., part of the Tata Group, resigned from the company on Friday. Sarna, who joined Indian Hotels in 2014, was known to be close to Cyrus Mistry, former chairman of Tata.
InterContinental Sydney Double Bay sold: The InterContinental Sydney Double Bay was acquired for A$140million ($US104 million) by Chinese private groups Zobon Real Estate and Shanghai United, marking the first 5-star Sydney hotel sale in two years. The luxury hotel was sold by Singapore’s Royal Hotel Group which paid about A$60million (US$45 million) for the vacant property in 2013.
More from the Australian Financial Review
Airbnb: According to data from SimilarWeb, Airbnb is now drawing more traffic than any other hotel brand or metasearch site. In Q1 2017, Airbnb drew 106.9 million visits to its site, an increase of 31% from 2016 – more than metasearch sites Booking.com as well as Expedia-owned Hotels.com.
Crystal Orange acquisition: China Lodging Holdings will acquire all of the equity interests of Crystal Orange Hotel Holdings for approximately RMB$3.65 billion (US$500 million). The deal obtained approval from the Antitrust Bureau of Ministry of Commerce of China.
Northern Ireland, Brexit: According to a trade body, following Brexit, Northern Ireland’s hospitality industry needs special status with protections, including the continuing right of Republic of Ireland citizens to work within the UK. Hospitality Ulster’s policy paper is set to call on the UK Government and a future Northern Ireland Executive to recognize the “unique status” of the contribution made by the industry’s pubs, restaurants and hotels.
More from the Belfast Telegraph
Dublin hotel pipeline: An analysis of the Dublin hotel development pipeline from Savills Hotels shows that over 3,000 hotel bedrooms will be delivered by the end of 2019. The analysis, undertaken by Savills and Leisure division, examined hotels that are in the planning process, have received planning approval, or are currently under construction. In 2018, 55% of new bedrooms will come from new hotels, with the balance of 45% in extensions to existing hotels. By 2019, Savills expect almost 90% of new supply to come from new hotels.
Club Marriott consolidation: Marriott International launched a new Club Marriott, combining Club Marriott, Eat Drink & More, and Star Privilege—three dining loyalty programs in Asia Pacific—into one single paid membership program. The newly combined Club Marriott will provide members with more choices and benefits whenever they dine out in their hometowns or visit one of the 200 participating hotels across 15 brands in 13 countries across the region.
TravelClick data: According to new data from TravelClick’s May 2017 North American Hospitality Review, over the next 12 months, transient bookings are projected to be down slightly -0.5% year-over-year, with ADR for this segment up 1.4%. When broken down further, the transient leisure (discount, qualified and wholesale) segment is up 0.7%, and ADR is also up 0.7%. The transient business (negotiated and retail) segment is down -1.8%; however, ADR is up 2.4%. Lastly, group bookings are nearly flat at -0.2% in committed room nights over the same time last year, while ADR is up 1.8%.
Dream Hotel takes step forward: After years of delays, the Dream Hotel in Palm Springs is on its way to becoming a reality following a vote of approval from the Palm Springs Planning Commission. The Dream is planned as a 171-room convention hotel just north of the Palm Springs Convention Center on what is currently a parking lot.
Horwath HTL data: Horwath HTL released a report looking at 14 European countries, examining the relationship between branded and chain hotels compared to the rest of the market. The report examines overall ranking by size in each country, by overall group (hotels and rooms) and by brand.
Manhattan data: A report from PwC Manhattan Lodging Index shows updates on Manhattan’s lodging market, including: a recap of the operating performance of hotels and sub-market trends, discussion of the overall drivers of operating performance and supply pipeline.