AccorHotels announces today it has begun exclusive negotiations for the acquisition of John Paul, the leading player in premium customer and employee loyalty services. The company’s Enterprise Value should be close to 150 million dollars i.e. a 2017e EV/EBITDA multiple of c. 11X. Accorhotels should acquire about 80% of John Paul, the remaining stake being kept by David … [Read more...]
Europe hotel performance for Q2 2016, June 2016
Hotels in Europe recorded positive Q2 2016 results when reported in euro constant currency, according to data from STR. Compared with the three key performance metrics from Q2 2015, Europe reported nearly flat occupancy (+0.6% to 73.9%). Average daily rate was up 2.1% to EUR114.33. Revenue per available room grew 2.7% to EUR84.49. Performance of featured countries for Q2 … [Read more...]
Andrew Brownsword Hotels acquires Old Swan & Minster Mill
Andrew Brownsword Hotels has announced today that it is in the process of acquiring the Old Swan & Minster Mill in the Cotswolds. With contracts exchanged, the deal expects to complete within a week and will see the property become the 13th in the Andrew Brownsword Hotels collection. Owned by the de Savary family for the last six years, recent investment has seen the … [Read more...]
Hurawalhi: sustainability in luxury
Five-star luxury and sustainability have been seamlessly integrated at Hurawalhi Island Resort – a combination worthy of making any environmentally aware urban dweller green with envy. In a fragile environment like the Maldives, eco-conscious operations should be the norm and this brand new island has gone the extra mile to put as much back into its surroundings as it takes … [Read more...]
Splendid Hospitality Group expands regional portfolio with fourth hotel in York
The Splendid Hospitality Group strengthens its presence in York with the acquisition of the Ibis York Centre hotel. Stuart Bailey, CEO for the Splendid Hospitality Group says: “This is a strategic acquisition for Splendid Hospitality and an ideal fit for our expanding regional portfolio with three existing hotels in York. The Ibis York Centre hotel boasts one of the most … [Read more...]