From the desks of the Hotel News Now editorial staff:
- Hispania approves revised bid from Blackstone
- US performance growth continues, though ADR pace slows
- How coffee plays a role in designing hotels
- May hotel performance data for Europe
- The Roosevelt hotel in New Orleans turns 125
Hispania approves revised bid from Blackstone: The board of directors of Hispania announced it has accepted a revised bid price of 18.25 euros ($21.26) per share from Alzette Investment S.à r.l., a company controlled by The Blackstone Group, according to a news release.
Blackstone filed a relevant fact with the Spanish Securities Market Commission stating the company increased its bid for Hispania. Hispania has confirmed that “the revised bid is attractive,” according to the release.
US performance growth continues, though ADR pace slows: The U.S. hotel industry maintained steady year-over-year growth in May, but the month-to-month pace of average daily rate growth slowed a bit, STR’s Alison Hoyt, senior director of consulting and analytics writes. STR is HNN’s parent company.
Year to date, occupancy grew 0.8% to 64.2%, average daily rate increased 2.7% to $129 and revenue per available room rose 3.6% to $83.
ADR growth was higher than in May 2017, but only by 0.4%, compared to a 0.8% increase in ADR growth from April 2017 to April 2018.
How coffee plays a role in designing hotels: A big part of the hotel design process is figuring out where to place in-room coffeemakers so they’re not an eyesore and making sure they fit what the hotel and its guests want, The Post and Courier reports.
When designing guestrooms, designers have to think about the environmental consequences of single-serve brewing pods and where coffeemakers are the most aesthetically pleasing.
The article calls coffeemakers “the amenity considered as essential as a working shower and bug-free bed,” and says “local hoteliers can’t escape their caffeinating responsibility.”
May hotel performance data for Europe: In May, hotels in Europe reported mixed results in the three key performance metrics, according to data from STR.
Europe hotel occupancy decreased 0.8% to 74.4%, ADR increased 1.5% to €113.35 ($132.14) and RevPAR increased 0.6% to €84.31 ($98.29).
Hotels in the United Kingdom saw occupancy increase 0.5% to 79.8%, ADR decline 0.8% to £93.31 ($123.95) and RevPAR decrease 0.3% to £74.47 ($98.93).
The Roosevelt hotel in New Orleans turns 125: The Roosevelt hotel in New Orleans, which has hosted stars such as Louis Armstrong, Jack Benny and Ray Charles, turned 125, The Daily Picayune reports. The article includes vintage photos and ads of the hotel.
The Roosevelt opened in 1893 as The Grunewald, and was built by Louis Grunewald, according to the article. The property became The Roosevelt in 1923 and was rebranded the Fairmont in 1965. It closed in 2005 after suffering damage from Hurricane Katrina.
In 2007, Hilton bought the hotel for $19 million and added the hotel to its Waldorf Astoria brand, the article states. Hilton reopened the 504-room, 135-suite hotel in 2009 under The Roosevelt name. The hotel underwent a $145 million renovation.
Compiled by Danielle Hess.