From the desks of the Hotel News Now editorial staff:
- LaSalle urged to sell by HG Vora Capital
- Aimbridge enters management deal for 115 hotels
- Marriott’s Sorenson shares company update
- Hilton to improve employee workspaces
- Hotel collapse in India leaves at least 10 dead
LaSalle urged to sell by HG Vora Capital: After hedge fund HG Vora Capital Management bought a 7.1% stake in LaSalle Hotel Properties on Monday, it urged LaSalle to negotiate with Pebblebrook Hotel Trust “for a better offer," according to Reuters.
HG Vora insisted LaSalle form an independent strategic committee to negotiate with Pebblebrook, Reuters reports, as well as to gauge the interest of other potential buyers.
“We believe a sale of the entire company would maximize value for shareholders,” said Parag Vora, founder HG Vora, which is now the third-largest shareholder in LaSalle.
Aimbridge enters management deal for 115 hotels: Vancouver-based real estate investment trust American Hotel Income Properties announced Aimbridge Hospitality entered a binding agreement with One Lodging Management to take on management of AHIP’s 115-hotel portfolio, according to a news release.
The transition is expected to take place by the end of April to help “ensure a smooth management transfer,” the release states.
“This is a very positive strategic development for AHIP,” AHIP President Ian McAuley said in the release. “As our portfolio has grown, and most recently with our major acquisitions in 2017, our need to partner with a leading external hotel management company that brings first-class experience and deep bench strength across the United States has become increasingly clear.”
Marriott’s Sorenson shares company update: In a video interview with Hotel News Now News Editor Sean McCracken at the recent Hunter Hotel Conference, Marriott International President and CEO Arne Sorenson revealed an announcement about the company’s unified loyalty program with Starwood Hotels & Resorts Worldwide is coming soon.
While word isn’t out yet on what the loyalty program will look like, Sorenson did share this: “Obviously, we’ve got three communities we want to make sure we’re focused on: The guests being the most important, but we’ve got our hotel owners, as well, and of course Marriott’s own involvement in this program. What we think we can do is deliver even more value to our guests.”
Hilton to improve employee workspaces: Hilton is looking to upgrade its employee spaces in hopes of improving staff work experience, reducing turnover and driving profitably, especially during a time of tight labor constraints, according to a Quartz at Work report.
Investment in upgrades, which can cost as much as $100,000 depending on the property, will include small fixes like paint refreshes as well as major upgrades, such as renovating cafeterias and locker rooms. Currently about 500 properties under Hilton’s management are being overhauled and another 220 have been marked for renovations, the report said.
“Our mission is to be the most hospitable company in the world, and you can’t do that without great people, and you can’t get great people without being a great workplace. We can’t have a dungeons back of house and expect to have a great workplace,” Matt Schuyler, Hilton’s chief human resources officer, told the outlet.
Hotel collapse in India leaves at least 10 dead: Over the weekend, at least 10 people were killed after a hotel in Indore, India, collapsed, The Guardian reports. The Times of India reports the property that fell was the MS Hotel.
According to police reports, a car crashed into the exterior of the building on Saturday night, which brought the building down in seconds. The Times of India reported the MS Hotel was a “dilapidated building, but officials couldn’t say for sure if Indore Municipal Corporation had declared it a dangerous structure.”
Compiled by Dana Miller.