Strategic Hotels & Resorts, Inc. (NYSE: BEE) announced today that it has signed an agreement to purchase New York City's Essex House Hotel from the Dubai Investment Group for a gross purchase price of approximately $362.3 million. The purchase price includes 509 hotel rooms, nine condominium units and significant hotel-level cash reserves.
Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into an agreement for a Hyatt Place hotel in Manatí, Puerto Rico with Island Hospitality Partners, LLC, a joint venture of PRISA Group and McConnell Valdes Consulting. Island Hospitality is also the owner of Hyatt Place Bayamón Hotel & El Tropical Casino, which is currently under construction and is expected to open in 2014.
Some of the largest hotel companies have conspired with online travel agencies to fix hotel prices, a lawsuit filed Monday alleges. The suit, filed in a U.S. District Court in San Francisco, alleges that Hilton Hotels, Sheraton Hotels & Resorts,
According to the Centre for Aviation, Sydney, half of all air seats in Asia will be low cost in 10 years time. At Singapore Changi, low cost is now 26% of all air traffic. Japan's gone from zero low cost to nine registered entities and that looks ready to shake up the market. As AirAsia proved a decade ago, low fares allow everyone to fly.
PKF Hospitality Research, LLC (PKF-HR), the research affiliate of PKF Consulting USA, LLC (PKFC), announced today that, according to its newly released 2012 edition of Caribbean Trends® in the Hotel Industry, the average Caribbean hotel that participated in the survey experienced a 10 percent increase in Net Operating Income (NOI) in 2011. This is the greatest annual increase in profits since 2008. "2011 was the first year since the recession where the Caribbean's hotel industry posted positive growth in all three major top-line performance indicators,"
NEWS| Christophe Chabaud has been appointed Resort Manager at Four Seasons Resort Bora Bora in Resort Bora Bora, French Polynesia.
Chabaud, a 20-year industry veteran, has worked in management positions around the world, including the past 14 years with Four Seasons Hotels and Resorts. He makes the move to French Polynesia from Four Seasons Resort Sharm El Sheikh in Egypt, where he most recently served as director of food and beverage. Prior to that,
NEWS | Jens Uwe Parkitny has been appointed Vice President of Digital Marketing & Distribution Asia Pacific at Accor Asia-Pacific in Sydney, Australia.
NEWS | James Macadie has been appointed General Manager at Shanghai Marriott Hotel Pudong East in Shanghai , China.
In order to give a boost to heritage conservation and tourism in the Ernakulam district, the Kerala government recently sanctioned 14 projects proposed by the District Tourism Promotion Council (DTPC). Some of these projects include beautification of the Pratayshamata church in Fort Vypeen; protection of Chinese fishing nets;
InterContinental Hotels Group (IHG) recently opened its new Hotel Indigo property in Mexico – the 106-room Hotel Indigo Veracruz - Boca del Río. The new hotel, located in the Veracruz business district and just steps from the World Trade Center and America’s Plaza, offers guests the intimate service typically associated with boutique lodging.