Hyatt’s all-inclusive brand debuts in Bulgaria: Hyatt Hotels Corp. announced plans to expand The Inclusive Collection, a new global portfolio of luxury all-inclusive resort brands, with five all-inclusive resorts in Bulgaria. Scheduled to open in 2023 and 2024, the resorts will be managed by Terra Tour Service EOOD and will be renamed Secrets Resorts & Spas, Dreams Resorts & Spas, Breathless Resorts & Spas and Alua Hotels & Resorts after renovations. Located in Sunny Beach and Obzor, the resorts will add approximately 2,000 keys to Hyatt’s Inclusive Collection portfolio. The addition of the five resorts is Hyatt’s latest major step in the intentional expansion of the global brand and will mark the entry of the Inclusive collection into a third European country, following Spain and Greece.
NewcrestImage acquires 45 hotels: NewcrestImage, Grapevine, Texas, has entered into a definitive agreement to acquire 45 hotels from an anonymous private investment firm for an undisclosed price. The portfolio includes approximately 3,300 rooms with 35 Marriott-branded hotels, seven Hilton-branded hotels, two Choice-branded and one Radisson-branded property, which are located in 11 states. NewcrestImage began this year in January by selling 27 hotels (3,533 rooms) to Summit Hotel Properties and Singapore’s GIC fund for $822 million. Since then, it has acquired 15 hotels and now adds 45 properties to its portfolio. The new hotels will be managed by Aimbridge Hospitality.
ITC to spin-off hotels? : Reports from India suggest the ITC is considering a spin-off of its hospitality business and may soon list the business unit separately. According to its chairman Sanjiv Puri, the ITC would pursue an “asset right” strategy for its hotels to ensure that the diversified conglomerate remains competitive and contemporary. ITC currently has 113 hotels and over 10,700 rooms under four distinct brands.
Declining performance in the United States: Hotel performance in the United States declined from the previous week, but continued to improve from 2019, the latest data from STR showed.
- Occupancy: 62.8% (+3.1%)
- ADR: $147.14 (+20.9%)
- RevPAR: $92.45 (+24.6%)
Among the top 25 markets, Miami saw the largest increase in occupancy (+30.1% to 62.2%) and RevPAR (+86.5% to US$112.37). San Diego posted the largest ADR gain (+50.1% to US$222.47). San Francisco was the only market to see its RevPAR decline (-16.2% to US$151.62).
European markets profitability update: Led by Berlin, most of Europe’s biggest hotel markets exceeded their pre-pandemic figures in GOPPAR, according to July P&L data from STR. The July GOPPAR in Berlin hit $34.32, or 183% of the pre-pandemic comparison. The market reported a GOPPAR of $98.21 in June, up 132% from the 2019 comparison. Paris also reported significant month-over-month improvement in Europe, with a July GOPPAR of 312.64 US$. This level was the second highest in the market this year after June (US$347.08). London and Amsterdam reported GOPPAR that was 105% comparable to 2019 at $172.11 and $97.65, respectively. Europe’s occupancy is just 10% lower than pre-pandemic figures. In July, Paris and London posted an occupancy rate of 85%, nearly double that of the previous year. Room rates in Europe in July were 27% higher than 2019 levels, with Athens, Edinburgh and Rome posting significant performance.
International arrivals in Europe resume: Air travel to southeastern Europe significantly exceeded pre-COVID levels during the peak summer months of July and August, with Turkey and Greece both exceeding visitor arrival volumes pre-pandemic 9% and 2% respectively, according to a latest report from ForwardKeys. Air travel to Albania also increased by 28%. Although no other major destination returned to 2019 levels; Slovenia, Iceland and Portugal (7%, 8% and 10% respectively) have moved closer together. Istanbul leads the best performing cities with a 2% increase in flight arrivals, followed by Athens (down 7%), Reykjavik and Porto (down 8% each) and Malaga (down 13%). Greece was the most resilient, with departures to European destinations in July and August matching 2019 figures, followed by Poland down 9%, Spain down 12%, the UK United, down 13%, Denmark, down 14% and Portugal down 15%. down. Overall, intra-European departures are down 22%. Among the extra-European market, the United States was the strongest, with only a 5% decline compared to 2019. The United Kingdom was the strongest source market, where demand for one-way flights for all three coming months was only 2% down from pre-pandemic levels.
Lemon Tree adds in India: Lemon Tree Hotels, New Delhi, India, has signed a new hotel – Lemon Tree Hotel, Erode – in Tamil Nadu, India. The hotel, which is expected to open by December 2023, will be managed by Carnation Hotels Pvt. Ltd., a wholly owned unit and management subsidiary of Lemon Tree Hotels Ltd. The establishment will offer 64 rooms, a restaurant, a bar and a meeting room. The hotel is Lemon Tree’s sixth in Tamil Nadu. The company currently operates approximately 8,300 rooms in 85 hotels in 52 destinations. Once its current pipeline is operational, Lemon Tree will have almost 10,900 rooms in 69 destinations in India and abroad.
Overview of the accommodation industry in the United States: Hotel room usage has seen a dramatic shift since the start of the pandemic, with trends continuing to evolve, the latest Hospitality and Lodging Industry Report from Cushman & Wakefield reveals. . The first six months of the year showed the resilience of the US hotel market but there was a nuanced performance locally and regionally. Compared to the first half of 2021, US demand increased by more than 18%, representing approximately 100 million additional occupied rooms, while the average room rate improved by 14.8%. Due to higher room rates, even with a lower volume of occupied rooms than before the pandemic, the national RevPAR reached an all-time high, surpassing the figures seen in mid-2019. The hotel sector remains adaptive. However, changes in personal and professional behavior have directly affected hotel performance. With higher interest rates and construction costs this year, many projects in urban and suburban markets have been canceled or postponed. Leisure-oriented markets sustained interest, where new projects continued. Overall, supply growth is expected to continue to slow. Nationally, the accommodation market is trending upwards, while varying locally. Nationally, the US accommodations market recovery was well on the top of the cycle, but the performance of different markets was quite diverse, depending on the source of hotel demand. Potential external risks and inflationary trends continued to challenge 2021 and early 2022 performance gains. long term.
Spending by international visitors jumps 100%: International visitors spent $13.9 billion in July on travel and tourism-related activities in the United States, an increase of more than 101% from July 2021, according to data recently released by the Office. national travel and tourism. Americans spent US$13.1 billion on travel abroad, generating a trade balance surplus of US$775 million for the month, wiping out two consecutive months of trade balance deficits for travel and travel. tourism in the United States. Between January and July, international visitors spent nearly US$83.4 billion on travel and tourism-related goods and services in the United States (up nearly 106% from the same period last year). last), adding more than US$395 million a day to the US economy. Purchases of travel and tourism-related goods and services by international visitors traveling to the country totaled US$7.4 billion in July, up 217% from a year earlier. US carriers received US$2.3 billion in fares from international visitors (up from $1.1 billion in July 2021), a 118% increase over last year. Spending on educational and health-related tourism, plus all spending by cross-border, seasonal and other short-term workers, was $4.2 billion (compared to $3.5 billion in July 2021 ), an increase of 19% compared to last year.
Moon of 5 billion US dollars in Dubai: Dubai is set to soon add a US$5 billion moon-shaped destination resort designed by Canadian company Moon World Resorts Inc. Proposed and co-founded by Sandra Matthews and Michael Henderson of Moon World Resorts (MWR), the 735-foot-tall building will be constructed in 48 months and is expected to attract 2.5 million people a year including a wellness center, nightclub, space tourism, technology and hospitality, as well as being surrounded by a “lunar surface”. The surface will span 10 acres and will include a “moon colony” targeting those looking for affordable access to explore space tourism. The building will also include 300 boutique “Sky Villas” – private residential units available for purchase. The deluxe units will be located inside the main structure disc buildings. Owners will have access to a private club exclusive to the resort. The building is also expected to be a hub for space agencies and their astronauts. MWR plans a series of global roadshows in 2023 showcasing Moon’s potential to future regional licensees and is expected to license four Moon destinations globally, one in North America, Europe, the Middle East, North Africa and South Africa. Asia.