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Travel Industry Deals Declined in 2024


Skift Take

Global travel and tourism sector deals declined by 4.3% in 2024, with private equity deals rising, M&A deals slightly increasing, and venture financing deals dropping, while Europe saw growth and other regions faced declines.

A total of 715 deals comprising mergers and acquisitions, private equity, and venture financing deals were announced in the travel and tourism sector globally during 2024, representing a year-on-year decline of 4.3% compared to 747 deals announced during the previous year, according to GlobalData. An analysis of GlobalData's Deals Database revealed that the number of private equity deals increased by 26.1% in 2024 compared to 2023, and M&A deals volume registered a marginal 0.4% growth, whereas the number of venture financing deals was down by 22.3%. Europe saw a 17% improvement in deal volume during 2024 compared to 2023, whereas North America, the Middle East and Africa, and South and Central America witnessed deal volume falling by 26.7%, 27.8%, and 13.3%, respectively, during the year. Meanwhile, the Asia-Pacific region's deal volume fell marginally by 1.7%.

Plamondon Hospitality Partners announced the opening of their newest dual-branded hotels, Fairfield and TownePlace Suites by Marriott in Grovetown, Georgia.

Baywood Hotels has plans for an AC Hotel by Marriott in the emerging downtown district known as GSQ in Goodyear, Arizona. The four-story hotel will have 135 guestrooms, a lounge, bar, dining options, a business center, an outdoor pool, and over 1,200 square feet of meeting space. The hotel is set to open towards the end of 2026.

Aligned Hospitality continues its strategic expansion with the addition of Tucson's first Spark by Hilton to its third-party management portfolio, marking the company's seventh hotel in the Tucson, Arizona market. Spark by Hilton Tucson Airport was previously a Comfort Suites that closed during the pandemic. The hotel was purchased in Q4 of 2024, at which point Aligned and the hotel's owner began the renovation process. The 87-key property offers free parking, an indoor pool, and a fitness center. The hotel is slated to officially open in February 2025.

Resolute Road Hospitality announced a strategic partnership with JMA Ventures to manage the DoubleTree by Hilton Spokane City Center, located in Spokane, Washington. The 375-room DoubleTree by Hilton Spokane City Center features an outdoor pool, fitness center, business center, EV charging stations, and 21,720 square feet of meeting space throughout 17 meeting rooms. The hotel connects directly to the Spokane Convention Center via a skybridge.

Extended Stay America is celebrating 30 years of Extended Stay, and has unveiled a vision for continued growth. With over 50 franchisee new construction Extended Stay America hotels scheduled to open in the next few years, primarily under the Premier Suites brand, which will celebrate the opening of its 50th property next month, the company's growth trajectory is robust. This last year marked unprecedented growth for ESA's franchising program, with the number of franchise owners more than doubling and the system expanding to over 125 franchise hotels.

Meyer Jabara Hotel's long-term owned asset, the Admiral Fell Inn, is undergoing a multimillion-dollar transformation. Open in Spring 2025 as The William Fell, Tapestry Collection by Hilton, this is MJH's third owned asset in Baltimore, its fifth managed property in Maryland, and the first Tapestry Collection conversion in its portfolio. The exterior brick structure from the 1700s will remain the same, and sleek lobby updates will include local nautical-themed art, a coffee area on the first floor, a fitness center with a courtyard, a fifth-floor meeting space, and a boardroom surrounded by a wraparound terrace.

The historic Stanford Court Hotel in San Francisco, California, is facing potential foreclosure and receivership after its owner was sued this week by lender Deutsche Bank AG. The owner, an affiliate of Michael Rosenfeld, is accused of multiple defaults on financing from Deutsche Bank and for refusing to repair elevators at the property ahead of a major conference this month, according to the filing in San Francisco Superior Court. The lawsuit seeks to appoint a receiver for the property as part of a foreclosure proceeding, which would allow the lender to take control of the hotel and potentially pursue a private sale. Rosenfeld, who is named in the lawsuit with the affiliate Pine & Powell Partners LLC, purchased the 400-room property in 2010 for $26 million. The Stanford Court's owner defaulted on a $105 million mortgage originated in 2018 from Deutsche Bank in 2022, then subsequently defaulted again in 2024, per the lawsuit. Deutsche Bank stated in the lawsuit it was forced by the owner's actions to make $5.3 million in protective advances to ensure the property's continued operation, including payment of real estate taxes.

Palm Beach, Aruba, welcomes a new and exciting addition: the very first St. Regis resort in the Dutch Caribbean, with reservations available starting January 23. The beach resort features 252 rooms and classic St. Regis features such as the St. Regis BarSt. Regis Spa, and a casino. Guests can also enjoy multiple infinity pools and a grand, expansive lobby with a bar.

SLS's first-ever all-inclusive, SLS Playa MujeresCancun, is celebrating its grand opening in January 2025. The reopening of Delano Miami Beach is scheduled for late 2025. SLS arrives in Barcelona, marking the brand's debut in Europe, with SLS Barcelona scheduled to open in early 2025. The opening of The Hoxton, Florence, is scheduled for early 2025. Mama Shelter will arrive in Switzerland for the first time with the opening of Mama Shelter Zurich, scheduled for a mid-2025 opening. The Hoxton, Edinburgh is scheduled to open in mid-2025. Making its Irish debut in DublinThe Hoxton, Dublin is scheduled for a late-2025 opening.

Personnel Move

Boutique Group announced the appointment of new Chief Executive Officer Christoph Mares. Building on the strong foundation laid by the group's former CEO, Mark De CocinisMares will be instrumental in driving Boutique Group towards its goal of introducing Saudi hospitality and culture to the world through its portfolio of iconic palaces, starting with the opening of its first hotel, The Red Palace, in April 2026. Mares previously held the position of Chief Operating Officer at Mandarin Oriental Hotel Group.

International Highlights

Ennismore shares its key 2025 openings across its ecosystem of hotels and F&B destinations. Breaking the mold and setting a new benchmark for lifestyle and leisure experiences, this year's openings mark significant milestones in the group's global growth. Ennismore's key openings for 2025 include Mondrian Gold Coast, marking the brand's Australian debut, and an opening scheduled for mid-2025. Hyde Perth is scheduled to open in mid-2025, while the 25hours Hotel The Olympia is scheduled to open in mid-2025. Heading to Asia for the first time, Mama Shelter Singapore celebrates the brand's 20th hotel, with its opening scheduled for mid-2025.

Rixos Montaza Alexandria is scheduled to open in January 2025. Rixos Radamis Sharm El Sheikh will be adding 500 additional rooms this year, with its second phase opening in January 2025. Rixos Obhur Jeddah Resort and Villas will be the first true all-inclusive, family-friendly lifestyle concept and beach resort in the heart of Obhur, scheduled to open in early 2025. Rixos Hotel in King Abdullah Economic City is scheduled to open in mid-2025. Mondrian will make its debut in Abu Dhabi in late 2025. Bringing the brand's lavish style to Saudi Arabia for the very first time, SLS Red Sea is scheduled to open in late 2025.

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