From the desks of the Hotel News Now editorial staff:
- NH Hotels’ shareholders reject Barceló bid
- A look at current, shifting ‘Do not disturb’ policies
- Jewelry heist at Ritz Paris nets millions
- Phuket inbound travel boost underlines hotel growth
- Sunstone sells two assets for $139 million
NH Hotels’ shareholders reject Barceló bid: The board of Spanish hotel firm NH Hotels has unanimously rejected a bid from fellow Spanish company Barceló Group, according to a news release. NH has approximately 400 hotels and 60,000 keys.
Meeting on 10 January, the board issued a statement that “the proposed transaction structure (merger) would not permit the creation of shareholder value over and above that which NH stands to create on a standalone basis.” According to the statement, Barceló had valued NH at €7.08/share (approximately $8.46/share).
A look at current, shifting ‘Do not disturb’ policies: Following decisions by Walt Disney World Resorts and Hilton to change their policies on Do not disturb signs and procedures, other chains are expected to do likewise, or at least clarify existing protocol, reports Hotel News Now’s Bryan Wroten.
Hilton, for example, said in a statement that staff do have discretion to make decisions “that protect guest privacy and focus on guest welfare.” HNN contacted many of the larger industry chains, and the article will be regularly updated when individual companies return comment.
Jewelry heist at Ritz Paris nets millions: Armed robbers stole millions of dollars’ worth of jewelry from high-end shops at the Ritz hotel in Paris, reports Dutch media company Expatica. The robbery took place in the early evening of Wednesday, and three of the alleged five assailants were arrested at the property.
The hotel reopened in June 2016 following a four-year, $450 million renovation. The Ritz Paris is one of four properties that HNN featured in a recent slideshow of renovations at iconic hotels.
Phuket inbound travel boost underlines hotel growth: Hotel performance in Phuket, Thailand, is booming thanks to a strong low season (with airport arrivals in 2017 up 11.2% from 2016) and a 20% increase in mainland Chinese visitors, according to C9 Hotelworks Market Research. However, the firm added in its report, average length of stay is declining and alternative providers are becoming more mainstream in the destination.
Phuket’s pipeline represents a 7.5% increase over existing supply, with 30 hotels, including 6,125 keys, according to C9. Upcoming properties include the 269-room Sheraton Phuket Grand Bay Resort, 277-room Courtyard by Marriott Phuket and 600-room Novotel Phuket Naiharn.
Sunstone sells two assets for $139 million: Sunstone Hotel Investors has sold the 464-room Marriott Quincy (Boston) and 289-room Marriott Philadelphia for a combined gross price of $139 million, according to a news release.
The deal, with a per-key price of approximately $184,600, represents a “10.3x multiple on combined 2017 hotel adjusted (earnings before interest, tax, depreciation and amortization) of $13.5 million and an 8.3% capitalization rate on combined 2017 hotel net operating income,” the release states. Sunstone retains interest in 25 hotels with 12,450 keys. The buyer or buyers were not disclosed.
Compiled by Terence Baker.