5 things to know: 5 July 2019
5 things to know: 5 July 2019
05 JULY 2019 9:09 AM

From the desks of the Hotel News Now editorial staff:

  • Brits traveling abroad grow in number despite Brexit
  • Weekly performance results for US, Canadian hotels
  • Invesco’s €160m scoop of two Italian developments
  • GLH Hotels announces Morgan as CEO
  • Kerzner makes two appointments to its C-Suite

Brits traveling abroad grow in number despite Brexit: Many commentators have suggested three years of Brexit talks have led to a rise in staycations, care over finances and, perhaps, a distrust of mainland Europe, but a report from GlobalData suggests that departures from the United Kingdom to mainland Europe are set to increase almost 3% between 2018 and 2023 from 55.9 million to 64.4 million, or approximately one trip per person.

The destinations U.K. travelers choose might have changed, though.

“The depreciation of the pound (sterling) has had a big impact on expenditure, however, and travelers have had to spend more to match the same experiences they had a few years ago. As a result, cheaper locations are highly sought after by U.K. travelers,” said Laura Beaton, travel and tourism analyst at GlobalData.

Weekly performance results for U.S., Canadian hotels: Hotels in the U.S. reported year-over-year growth in average daily rate and revenue per available room but a dip in occupancy for the week ending 29 June, according to data from STR, parent company of Hotel News Now. Occupancy decreased 0.5% to 75.5%, while ADR increased 1.4% to $133.83 and revenue per available room increased 0.9% to $100.99.

Hotels in Canada reported negative year-over-year results in all three metrics for the same week. Occupancy decreased 1.4% to 72.8%, ADR decreased 1.2% to 175.41 Canadian dollars ($134.24) and revenue per available room decreased 2.6% to CA$127.67 ($97.71).

Invesco’s €160m scoop of two Italian developments: A little more than a week since Invesco Real Estate purchased three Lisbon hotels for €313 million ($352.4 million), the firm via other funds has now bought two hotels in development in Italy for €160 million ($180.2 million), according to a news release.

The deal, on a turn-key basis, is for two hotels currently being built. The first, to open in Florence in the second half of 2020, is a 172-room property to be flagged by 25Hours Hotels and has been sold by Art-Invest Real Estate, while the second, to open in Milan in the fourth quarter of 2021, is to be a 185-room NH Collection hotel. The seller was not announced for the NH property.

GLH Hotels announces Morgan as CEO: London-based hotel owner and operator GLH Hotels has announced its new CEO will be Alan Morgan, who will begin on 5 August following the resignation of current CEO Neil Gallagher, according to a news release. The company’s portfolio includes Amba Hotels, Guoman Hotels and Thistle Hotels, as well as the Hard Rock Hotel London, which opened this spring.

Morgan will arrive at GLH from his position as retail managing director at Rank Group, but has had roles at Punch Taverns and Whitbread PLC, owner of hotel brand Premier Inn. Gallagher will remain in an advisory capacity until Morgan’s first official day.

Kerzner makes two appointments to its C-Suite: Dubai-based Kerzner International Holdings, which owns the Atlantis Resort & Residences and One&Only Resorts brands, has announced two promotions to its C-Suite management team, according to a news release.

Philippe Zuber has been promoted to chief operating officer from president and COO at One&Only, while Brett Armitage has been promoted to the new role of chief commercial officer from a senior position in the firm’s sales department.

Compiled by Terence Baker.

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