Savills has forecast that the ongoing expansion of European serviced apartment operators will provide the solution to lack of consumer and investor awareness which has prevented the sector from reaching its full potential so far. The firm’s research found that just 59% of consumers were familiar with serviced apartments and 43% with apart hotels (although slightly higher at … [Read more...]
Search Results for: hotel acquisition
HoistLocatel and Swisscom Hospitality Services are now Hoist Group
Yesterday, Sweden-based HoistLocatel completed the acquisition of Swisscom Hospitality Services (SHS). The new company, Hoist Group, forms the most powerful provider of IT services to the hospitality and healthcare industries in the EMEA region, with a strong North American presence. Hoist Group is EMEA’s premier technology partner for hotels, health care institutions and … [Read more...]
Young’s reports year of strong performance
Young’s has reported preliminary results for the 52 weeks ended 30 March 2015 with revenue up 7.7%, operating profit up 27.3%, and positive trading since the year end. Stephen Goodyear, Chief Executive of Young’s, commented: “Young’s has had another extremely good year, with further robust profit growth driven by increased revenue and strong operational management, … [Read more...]
IHG reports strong first quarter with 5.9% RevPAR growth
IHG’s First Quarter Interim Management Statement shows upward RevPAR, growth in all four regions, and continuing increase in its global scale with 4.9% growth in rooms (to a total of 723k). UK RevPAR growth of 7.7% was driven by rate increases in both London and the provinces as the economic environment continues to improve. Fiona Cincotta, senior market analyst … [Read more...]
Accor acquires FASTBOOKING to accelerate digital strategy
Accor has announced the take-over of FASTBOOKING, a digital services provider for the hotel industry. A French company founded in 2000, FASTBOOKING provides daily support to nearly 4,000 hotels worldwide. Its key areas of expertise are hotel website development, distribution channel management solutions, digital marketing campaign management, revenue management optimization … [Read more...]