IHG’s Third Quarter Interim Management Statement reveals RevPAR growth of 7.0% - double digit in the UK, and system growth to 697k rooms, with a strong pipeline. Hotel Indigo is now up to 119 hotels, and Staybridge Suites has reached 200. Wyn Ellis of Numis commented on the positive results and prospects: “We consider IHG to be a well managed business with an attractive … [Read more...]
Dominvs to develop Oxford hotel
Dominvs Hospitality, has successfully acquired a key site for a hotel development in the heart of Oxford, the home of Oxford University, the oldest university in the English speaking world. The third key acquisition this year forms part of Dominvs Hospitality’s planned strategic expansion of hotels in prominent UK cities. The site is nestled between the Malmaison hotel, … [Read more...]
Whitbread reports underlying profit up 18.5% pre-tax
Whitbread has reported sparkling results for the six months to 28 August 2014, with underlying profit up 18.5% before tax, and strong momentum, but demanding comparatives looming in the fourth quarter due to the benign weather last year. Andy Harrison, Chief Executive, commented: "This is a very good set of first half results with total sales growing by 13.0%, driving an … [Read more...]
Safestay Hostels poised for expansion
Luxury hostel brand, Safestay, is poised to announce an ambitious expansion plan for new openings across the UK. This follows Safestay becoming the first hostel group in the world to successfully list on AIM in May of this year. Setting a new standard in stylish, affordable and comfortable accommodation, Safestay aims to appeal to a broad community of guests with their … [Read more...]
The Hotel Collection appoints Richard Kiersey
The Hotel Collection has appointed Richard Kiersey as technical services director, effective immediately. The appointment comes shortly after the company, which operates 21 unique properties across the UK, appointed a new board, including Grant Hearn as chairman. A highly skilled, commercially focused director with wide experience in hotels, Kiersey is responsible for The … [Read more...]