- Citizen M to bring its affordable luxury concept to Italy: first Rome and then Milan
- IHG signs agreement for Crowne Plaza hotel in Lucknow India
- The Baird/STR Hotel Stock Index showed positive performance in Apr-2020, an encouraging sign, but uncertainty still persists for the industry
- Data metrics - latest performance insights from STR
- News briefs - bitesize updates of latest industry news and developments
Citizen M to bring its affordable luxury concept to Italy: first Rome and then Milan
CitizenM started with an idea to disrupt the traditional hotel industry by creating a luxury hybrid hotel for today's modern travellers, supporting a guest who values a luxury hotel experience in central city locations, but at an affordable price. With the concept of a hybrid hotel that isn't just a place to sleep, but somewhere to work, relax, and play, it has build a portfolio of almost 20 properties that stretch across Europe, North America and Asia. Its latest growth will see it bring its affordable luxury concept to Italy with a property in Rome and then another planned in Milan. The Rome project will be based within an existing detached office building described as being of "architectural and cultural interest". The 7,000 square metre space will be completely renovated to deliver a 160-room Citizen M hotel.
IHG signs agreement for Crowne Plaza hotel in Lucknow India
InterContinental Hotels Group (IHG) has signed a management agreement to bring the Crowne Plaza brand to the historic city of Lucknow, in northern India. The city is emerging as a key destination for both corporate and leisure travellers with an expanding business and tourism landscape. The Crowne Plaza Lucknow Sultanpur Road will open in late 2024 and will offer 110 rooms, a bar and a club lounge as well as large meeting and banqueting space of approximately 19,000 square feet. It will be directly accessible from the Lucknow-Sultanpur road, the newly developing areas next to Shahid Path, as well as the city's new cricket stadium.
The Baird/STR Hotel Stock Index showed positive performance in Apr-2020, an encouraging sign, but uncertainty still persists for the industry
The Baird/STR Hotel Stock Index rose +15.6% in Apr-2020 to a level of 3,177, an encouraging sign during a month that the US hotel industry may have hit its performance bottom and started its recovery. But, while there have been modest demand gains over the last three weeks of the month, the level of hotel business "remains at incredible lows," acknowledges STR president Amanda Hite. Above all this is a positive, but uncertainty "will persist for the industry" even as businesses begin to reopen and distancing limitations are eased, says Ms Hite. Despite the Apr-2020 recovery, year-to-date through the first four months of 2020, the stock index was still down -39.7%.
Data metrics - latest performance insights from STR
- Showing further Covid-19 impact, Canada's hotel industry recorded steep year-over-year declines in the three key performance metrics during the week commencing 26-Apr-2020. In comparison to the week commencing 28-Apr-2020, occupancy declined -75.8% to 16.6%, ADR fell -37.5% to CAD101.69 and RevPAR dropped -84.9% to CAD16.91. Among the major markets, Montreal saw the largest drop in occupancy (-85.4% to 11.7%), Vancouver registered the steepest decline in ADR (-51.8% to CAD115.51) and Toronto recorded the largest decrease in RevPAR (-92.0% to CAD14.02).
News briefs
- Despite the overall negative impact of the Covid-19 pandemic on the global travel industry, Amadeus has revealed that its hotel activities grew in 1Q 2020, supported by customer wins. New business included a multi-year agreement with 11 Radisson Edwardian Hotels for its cloud-based Sales & Event Management - Advanced, MeetingBroker and Direct Book solutions, a deal with German lodging company Maritim Hotelgesellschaft mbH for iHotelier, Sonder for Demand360, and Wyndham Destinations subsidiary Extra Holidays for iHotelier, Guest Management Solutions and Demand360.
- Chatham Lodging Trust, a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, reported a -21.8 year-on-year decline in RevPAR across its portfolio of 134 hotels during 1Q2020, to USD96. ADR also decreased -5.2% to USD153, and occupancy dropped 17.5% to 63%.
- HEI Hotels & Resorts has completed a comprehensive initiative to protect the health and safety of hotel guests and workers during the Covid-19 pandemic. A combination of new standard operating procedures, alterations to hotel spaces, and the purchase of disinfecting technology and personal protective equipment has been undertaken to support proper social distancing and hygienic practices at HEI's portfolio of more than 80 independent and branded hotels.
- Hilton Hotels president and CEO Christopher Nassetta has said that airlines are "way behind" the hotel industry in terms of consumer sentiment for activity after Covid-19 lockdowns, as "those that are willing to travel are only willing to go so far from home".
- The Jo An Palace Hotel has completed an extensive redesign of its rooms and common areas. The renovating procedure began in Nov-2019 and has seen reach of the 70 rooms at the property fully renovated and equipped with new amenities. The property is located at Rethymno, a city on the north coast of the Greek island of Crete.
- Kazakhstan's Commission on Preventing the Spread of Coronavirus allowed the resumption of domestic air services to Aktau, Balkhash, Oral Ak Zhol, Shymkent, Urdzhar, Zaysan and Zhezkazgan from 13-May-2020 and will permit hotel complexes to resume activities from 18-May-2020.
- Atlanta-based hotel owner and operator Hotel Equities has been selected to manage the new-build Springhill Suites by Marriott hotel in Topeka, Kansas. The property, owned by Klaton Hotels Topeka, is located at 29th & Fairlawn and plans to open in Oct- 2020.
- Swedish airport operator Swedavia saw its 1Q2020 results alleviated by sale of Airport Hotel 2 AB which boosted the bottom line. Despite significantly lower revenue from airport operations towards the end of 1Q2020, Swedavia posted higher operating profit compared to 1Q2019, due largely to a capital gain of EUR39.6 million from the hotel sale
- TUI has introduced a 10-point plan with a set of measures and standards to reopen its' hotels. The measures will enable guests "to enjoy their holidays in the knowledge that the highest hygiene standards in relation to Covid-19 have been put in place". The new standards will not only be implemented in the Group's own hotel brands such as TUI Blue, Robinson and TUI Magic Life, but will also be made available to the Group's joint venture and hotel partners.