Minor Hotels

ITC shareholders approved the company's plan to spin off its hotel business, retaining a 40% stake, with overwhelming support from minority shareholders.

After a week mostly spent on vacation, DLR returns with everything you need to know about the lodging industry before the next week starts.

Soho House dissolved its Independent Special Committee after rejecting an offer for strategic transactions, causing discontent among shareholders due to the stock's low trading price.

Accor has opened its 700th hotel in China, the Sofitel Shanghai North Bund, coinciding with the Sofitel brand's sixtieth anniversary and the China-France Year of Culture and Tourism.

Visitor spending in Macau, excluding gaming, increased by over a third year on year, driven mainly by overnight visitors and significant spending on shopping, accommodation, and food and beverage.

After the acquisition of Minacia, Star Asia will have an additional 5,100+ rooms from 39 limited service hotels under its management.

Minor Hotels plans to open 50 new hotels in India over the next decade, focusing on luxury and upscale segments, while targeting specific opportunities in wellness, lifestyle, and historic venues, and emphasizing partnership-based management.

Selina Hospitality received a delisting notice from Nasdaq due to its low stock price, but plans to implement a reverse stock split to regain compliance.

The market liked this conclusion: both companies' stock prices rose, with Choice Hotels up 6% and Wyndham Hotels 2%, indicating investor relief – or strategic reassessment.

At the close of 2023, analysts state that the total global construction pipeline stands at 15,196 projects and 2,367,727 rooms, a 7% increase in projects and a 3% increase in rooms year-over-year.