North America

Hilton Grand Vacations Completes Acquisition of Bluegreen Vacations

Hilton Grand Vacations Inc. completed the previously disclosed acquisition of Bluegreen Vacations. The transaction broadens HGV’s offerings, customer reach, and sales locations, creating a premier vacation ownership, and experiences company.
North America

Choice Hotels Disputes Wyndham’s Claims

Choice Hotels International issued an investor presentation that they said disputed the false and misleading antitrust claims made by Wyndham Hotels & Resorts in connection with CHH’s attempt to acquire WH.

Ian Schrager and Marriott Open Second Edition Hotel in Japan

The Tokyo Edition, Ginza, designed by Ian Schrager and Kengo Kuma, is now open with 86 guestrooms, including 10 suites. It follows Edition’s first Japan venture with the Tokyo Edition, Toranomon, and features large standard rooms and a blend of old and new architecture. IHG Hotels & Resorts and Accor announce multiple global openings for 2024, including luxury and premium hotels in various locations like France, Malaysia, Mexico, New Zealand, Thailand, and others.  Banyan Tree and China Vanke are dissolving their joint ventures, with Banyan Tree acquiring and selling stakes in different ventures for a combined 480 million yuan.
North America

IHG Accelerates Global Expansion

Choice Hotels International purchased more shares in Wyndham Hotels & Resorts in its unsolicited exchange offer to acquire the company. The Baird/STR Hotel Stock Index rose 9.3% in November, with the Hotel REIT sub-index up 7.6% year-to-date and the Hotel Brand sub-index up 30.6% year-over-year. BCD Travel forecasts a global decrease in airfares and a 6.8% increase in hotel rates in 2024.

Singapore’s Booming MICE Market to Hit $7 Billion by 2030

Coherent Market Insights reports that Singapore’s MICE (Meetings, Incentives, Conferences, and Exhibitions) market, valued at S$3.82 billion in 2023, is expected to grow to $6.97 billion by 2030 Marriott International will operate the new W Singapore – Marina View as part of a mixed-use development in Singapor Wyndham Hotels & Resorts signed a franchise agreement for Ramada by Wyndham in Jim Corbett, Uttarakhand, India, enhancing its North Indian presence.
North America

IHG Brings Wonderland Experience to Select Hotels

Park Hotels & Resorts announced a quarterly cash dividend of $0.15 and a special top-off dividend of $0.78, totaling nearly $635 million returned to shareholders in 2023. R New and renovated Holiday Inn properties opened in Mansfield, Ohio, and Milwaukee, Wisconsin. LuxUrban Hotels signed agreements to operate two New York City hotels.

New StandardX Brand Will Debut in Melbourne

Singapore saw a significant rise in international visitor arrivals in October, notably from China and Indonesia. Meanwhile, The Philippines plans to develop 48 new hotels by 2028. Several hospitality brands announced major expansions, including The Standard International’s new The StandardX in Melbourne, Australia, and Accor opening Mercure Tokyo Haneda Airport. Indian Hotels Company formalized a partnership for a new Vivanta hotel in Kochi, India, and Crowne Plaza in Chennai, India will be replaced by luxury apartments.
Asia-Pacific Reports Surge in China Inbound Travel Searches

Today’s report highlights significant growth in global search results for inbound travel to China, with noting a nearly 40% increase in 3Q23. New properties and expansions are underway, including The Grand Mercure Lampung Hotel in Indonesia and the first Four Points by Sheraton in Kuala Lumpur. The Imperial in New Delhi is undergoing a significant reinvention, including refurbishing historical furniture and revamping its food and beverage operations.

China’s Hotel Pipeline Inches up 3% Year Over Year

Amara Holdings received a voluntary cash offer at 60 cents per share from a consortium linked to Albert Teo, Amara’s CEO, other members of his family, and private equity investor Dymon Asia. In the Q3 2023 China Construction Pipeline Trend Report by Lodging Econometrics , at the end of the quarter, China’s total construction pipeline reached a record high of 3,720 projects with 686,017 rooms, up 3% by projects and unchanged by rooms year-over-year. Dusit International has signed HMA and RMA agreements with Ziogreen Private Limited to manage four properties amidst the beautiful landscapes of Karnataka state, southern India .