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Showing posts from March 14, 2014

Hospitality job openings reach a 6-year high

New figures from the Bureau of Labor Statistics' JOLTS program show that job openings in the restaurants-and-accommodations sector reached a 6-year high in January. According to a news release from the National Restaurant Association, there were 534,000 job openings at restaurants and lodging establishments on the last business day in January, on a seasonally-adjusted basis. "This represented the highest level since December 2007, when 535,000 restaurant and lodging jobs were available," said the NRA's chief economist, Bruce Grindy. "After hitting a cyclical peak in late 2007, job openings fell sharply during the Great Recession. During 2009 and 2010, the restaurants-and-accommodations sector averaged fewer than 250,000 jobs openings each month. Job openings trended upward as the economy improved, with the number averaging roughly 450,000 each month during 2013." The figures from January represent the first time since pre-recession that monthly job opening…

Internos Acquires New Leipzig Hotel

The InterCity Leipzig opened in May 2013 and is operated under a long lease by InterCity Hotels, a 100% subsidiary of Steigenberger Hotels. LEIPZIG, GERMANY—Internos Global Investors, has closed of the acquisition of the Steigenberger InterCity Hotel Leipzig from B & L Gruppe on behalf of theIternos Hotel Real Estate Fund I. This is the 10th hotel to be acquired for the Hotel Fund since its first closing 18 months ago.

Waldorf Astoria Hotels & Resorts Announces Entry into Indonesia

Hilton Worldwide today announced the signing of a new management agreement with PT. Bali Ragawisata for the firstWaldorf Astoria Hotels & Resorts property in Indonesia. Located in the exclusive Bukit Pandawa precinct in the south of Bali, the 96-villa Waldorf Astoria Bali is also the fourth hotel in the pipeline in Indonesia for the global hospitality group.

IHG® Announces New Holiday Inn Express® Hotel for Golden-Kicking Horse, British Columbia in Canada

GOLDEN-KICKING HORSE, BRITISH COLUMBIA – InterContinental Hotels Group (IHG)  [LON: IHG, NYSE: IHG (ADRs)] announces a new 75-room Holiday Inn Express hotel for Golden-Kicking Horse in British Columbia. Located just off the Trans-Canada Highway between the Canadian Rocky Mountains and the Selkirk Mountain ranges, the newest addition toIHG’s portfolio in British Columbia opens following a significant investment by 611017 BC Ltd. The hotel is a short distance from six national parks and is conveniently situated near popular downhill and cross country skiing venues as well as other outdoor activities ranging from golf, to downhill mountain biking, to hiking and white water rafting.

Pod-style hotels emerge; Savills cites UK developments

A new hotel segment is emerging with the expansion of “pod” hotels and the likes of
limited-service hotels with smaller guestroom footprints such as Marriott’s Moxy, Yotel,
CitizenM and Whitbread’s new Premier Hubs.

In a research report just released by real estate advisor Savills, UK regional cities could
see an expansion of pod and smaller format hotels, similar to that seen in London, with
up to four new hotels planned to open in regional cities for 2014/15.

Sahara reportedly considering sale of NYC Plaza

Despite official denials a few months ago, Sahara India Pariwar, Lucknow, India, is
 reportedly entertaining offers to buy its 75% controlling stake of New York City’s The
Plaza.

St. James’s buys 14 UK hotels out of administration

The 14-hotel portfolio of Forestdale Hotels, a subsidiary of Akkeron Hotels Group,
Surrey, England, has been bought out of administration for an undisclosed sum by St.
James’s Hotel Group, London.