Hospitality
Top stories summarized by our editors
5/20/2019

Allegiant, the budget airline, plans to build a $470 million resort in Florida. Sunseeker Resorts Charlotte Harbor will open next year with 180 extended-stay suites and 500 guest rooms.

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Allegiant
5/20/2019

The private equity firm PAI Partners is negotiating a possible sale of B&B Hotels to Goldman Sachs, the companies said. A news report estimated the value of B&B, which has a portfolio of 476 hotels, at $2.1 billion.

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Reuters
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Goldman Sachs, PAI Partners
5/20/2019

India's Tata Group and Singapore-based GIC reportedly have launched a joint venture to invest approximately $600 million in Indian hotels struggling with poor performance and debt. The properties would be managed by Indian Hotels Co., operator of the chain hotels owned by Tata, one of the country's largest conglomerates.

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Tata Group, Indian Hotels Co., GIC
5/20/2019

Small Luxury Hotels of the World has 400,000-plus members in its loyalty program and sees wellness and allure of nature as ongoing trends in travel. "We are envisioning a future where people experience the world with intention, experience its intensity and protect its integrity," executive Kenan Simmons says.

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TravelPulse
5/20/2019

The popularity of select-service hotels will continue, and oversupply doesn't pose a foreseeable threat, hoteliers asserted at the recent Meet the Money 2019 conference. "[I]t's the replacement of the '80s and '90s when they were building big Hiltons and Marriotts in the suburbs, and they can't do that anymore, no one will finance that," Chris Dobbins of InterContinental Hotels Group says.

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Hotel News Now
5/20/2019

Large group bookings for events in major markets cushioned a first quarter that fell short of expectations overall, executives of hotels and real estate investment trusts related in a round of reports. Some companies, such as Wyndham Hotel Group, bucked the trend with strong performances.

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Hotel News Now
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Wyndham Hotel Group
5/20/2019

Peer hiring is instrumental in achieving the remarkably low staff turnover rate at The Langham in Melbourne, Australia, Managing Director Andrew Jessop says. "Applicants are not intimidated, they already have a friend when they start work, and the person on the hiring panel learns interviewing skills," he says.

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Andrew Jessop, The Langham
5/20/2019

Small Luxury Hotels of the World has 400,000-plus members in its loyalty program and sees wellness and allure of nature as ongoing trends in travel. "We are envisioning a future where people experience the world with intention, experience its intensity and protect its integrity," executive Kenan Simmons says.

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TravelPulse
5/20/2019

Room demand was down for California's Coachella music festival this year while new hotel rooms continue to enter the market. The area is expected to add 800 rooms by next year's festival.

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Hotel News Now
5/20/2019

GIC and Indian Hotels plan to invest up to $600 million in established hotels across India. "GIC offers very long-term capital and hospitality requires someone like that rather than a private equity investor," said Anuj Puri, chairman at Anarock Property Consultancy.

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Indian Hotels, Anuj Puri