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HIGHLY CONFIDENTIALH.O.T.E.L. | Private Sale | > $100M | ONTARIO | Canada
HIGH END LUXURY HOTEL | > $100,000,000
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Oyo Secures $174 Million in Series G Funding to Propel Future Growth
Oyo has successfully raised $174 million in its Series G funding round, marking a significant boost for the budget hotel chain. This new investment, contributed by Patient Capital, InCred Wealth, and J&A Partners, will support Oyo’s ongoing growth and strategic initiatives, including its complex journey towards an IPO.
Embracing the Experience Economy: A Strategic Imperative for the Travel Industry
As the travel industry grapples with shifting consumer preferences, the rise of the experience economy presents a crucial opportunity. In a world where Millennials and Gen Z are prioritizing genuine connections and meaningful experiences over material gains, travel brands must adapt to meet this demand for immersive and community-driven adventures. This approach not only aligns with evolving consumer values but also promises long-term loyalty and success.
Exploring the Untapped Potential of Hospitality Subscriptions: A Game-Changer for the Travel Industry?
As the hospitality industry navigates post-pandemic shifts and evolving traveler preferences, subscription models are emerging as a promising new frontier. Programs like CitizenM's MycitizenM+ and Ennismore’s Dis-loyalty signal a shift towards more personalized, value-driven travel experiences. While challenges such as legacy systems and market unpredictability remain, the potential for hospitality subscriptions to enhance customer loyalty, provide stable revenue streams, and offer unique experiences suggests that the future of travel may well be subscription-based.
Travel Industry Reacts to Google Antitrust Ruling
The recent U.S. antitrust ruling against Google has sparked varied reactions across the travel industry. While some leaders see potential benefits like reduced marketing costs and new platform opportunities, others express concerns over the long-term impacts on business models and the reliance on Google’s search dominance. As appeals are likely, the industry braces for changes that could reshape the digital landscape.
Tripadvisor Enhances User Experience with In-App Hotel Bookings
Tripadvisor is expanding its app's capabilities by introducing in-app hotel bookings through a partnership with Hopper Technology Solutions. This new feature aims to deepen user engagement, allowing members to plan and book their entire trip seamlessly within the app, further driving revenue growth and enhancing the overall user experience.
Maximizing Property Potential in the Evolving Hospitality Landscape
Maximizing your property's potential in today's evolving hospitality landscape requires rethinking traditional metrics and creatively utilizing every space. By embracing innovative technology and redefining occupancy, hotels can unlock new revenue streams, enhance guest experiences, and stay competitive in a dynamic market.
Hyatt Reports Strong Q2 2024 Results
Hyatt Hotels Corporation's Q2 2024 results show a 4.7% increase in RevPAR and a net rooms growth of 4.6%. The company achieved a net income of $359 million and adjusted EBITDA of $307 million. Hyatt’s pipeline hit a record 130,000 rooms, and the World of Hyatt loyalty program grew to 48 million members.
Innholder Scholarships Now Open for Application
The Master Innholders are offering scholarships for up to 12 UK hospitality professionals to advance their careers through two prestigious programs: the Talent Development Programme at Cranfield University and the General Managers Programme at Cornell University. Applications are open until August 30, 2024.
Dusit Expands with New Luxury Project in Bangkok
Dusit International and King Square Development Co., Ltd have announced a new project in Bangkok, featuring the Dusit Suites Kingsquare and KingsQuare Residence, set to open in 2026. This upscale development on Rama 3 Road will include a hotel with 60 rooms and 49 serviced suites, alongside a 52-storey luxury residential tower with 222 residences. The complex will also feature a shopping center and offer a range of high-end amenities.
Net Affinity Unveils Hotel Mobile Barometer to Track Mobile Booking Trends
Net Affinity has introduced a Hotel Mobile Barometer to help hotels track and compare their mobile booking performance. With mobile bookings rising—65% in the UK and 59% in Ireland—the tool offers insights and benchmarks against national averages, highlighting the importance of optimizing mobile user experience for high-value bookings.
Cube Hotel in Birmingham Listed for £12 Million Following Administration
The Cube Hotel in Birmingham is listed for £12 million after its owners entered administration in July. The hotel, located on the 23rd and 24th floors of the 25-storey Cube development, features 52 rooms, an 180-cover Marco Pierre White restaurant, and a rooftop bar. Joint administrators Quantuma Advisory Ltd are overseeing the sale, with Watling Real Estate and Graham + Sibbald managing the marketing. The property offers potential for significant branding and trading enhancements.
Rosewood Hotels & Resorts to Unveil Ultra-Luxury Resort on Private Island in Exuma, Bahamas
Rosewood Hotels & Resorts, in partnership with Yntegra Group, will open a 33-suite luxury resort on East Sampson Cay, a private island in the Exuma archipelago, Bahamas. The eco-conscious development will feature solar-powered energy, six dining venues, a 20,000 square-foot spa, and two marinas. Rosewood Exuma is set to open in 2028, offering a next-generation luxury experience in this pristine Caribbean paradise.
Singapore: CapitaLand Ascott Trust Secures S$165 Million Sustainability-Linked Loan from OCBC
CapitaLand Ascott Trust (CLAS) has secured a S$165 million loan from OCBC Bank, aimed at supporting its carbon reduction targets. This financing, part of OCBC's 1.5°C loan program, incentivizes companies to align with net-zero pathways by offering interest rate reductions for meeting sustainability goals.
Wake-Up to Change: Hotel Marcel’s Climate Call Initiative
Hotel Marcel in New Haven introduces an innovative "Climate Wake-Up Call," where guests can start their day with messages from climate change experts, promoting sustainability and environmental awareness.
Countries Issue Warnings Amid UK Unrest and Anti-Immigration Protests
Seven countries, including India, Australia, and the UAE, have issued travel warnings for their citizens amid rising anti-immigration protests in the UK. The unrest, sparked by misinformation following a tragic incident in Southport, has led to violent riots targeting immigration centers and hotels housing migrants. The UK government has vowed swift action against rioters, with over 400 arrests made. Concerns are growing about the impact on sectors like hospitality and housing as the situation escalates.
UK City Hotels Lag in EV Charging Facilities
A recent study by Drax Electric Vehicles reveals that just six percent of UK city hotels offer electric vehicle (EV) chargers. Out of over 15,000 hotels in 74 cities, St Davids, Milton Keynes, Central London, and St Albans lead in providing this service. Major cities like Birmingham and Manchester have fewer options, with only four and six percent of their hotels equipped for EVs, respectively. The report highlights a significant gap in infrastructure and suggests that investing in EV chargers...
Spain’s Hotel Market Outlook for 2024: Robust Growth and Investment Surge
Spain’s tourism sector surpassed pre-pandemic levels in 2023, with significant growth in both domestic and international visitors. Hotel investment hit €4.2 billion, driven by high-end transactions and international interest. Looking to 2024, the market is set for further expansion, with projected increases in travelers, overnight stays, and revenue per room.