The Blue Swan Daily brings you a round up of the latest key hotel news from across the South Pacific.
- TAA: Action needs to be taken on the growth of ‘quasi-hotels’ across Sydney
- ACCC announces it will not oppose Accor’s acquisition of Mantra
- IHG expands luxury footprint, acquires 51% stake in Regent Hotels & Resorts
- Tourism Australia announces fund to support bids for business events
TAA: Action needs to be taken on the growth of ‘quasi-hotels’ across Sydney
Tourism Accommodation Australia (TAA) CEO Carol Giuseppi stated the rapid conversion of residential properties into commercial tourist accommodation “without any transparency or controls needed to be addressed immediately”. According to the body, there are more than 11,000 commercial residential property listings on Airbnb across metropolitan Sydney, up 42% year-on-year. Ms Giuseppi said this segment of the economy is “morphing into actual commercial operations which compete directly with existing hotels, costing jobs and affecting investment in one of the most vital sectors in NSW”. Ms Giuseppi said TAA had no issue with individual operators renting out rooms in their own homes, but had real problems with quasi-hotels springing up across metropolitan areas.
ACCC announces it will not oppose Accor’s acquisition of Mantra
Australian Competition and Consumer Commission (ACCC) announced it will not oppose the proposed acquisition of Mantra Group by AAPC Limited (Accor). The ACCC stated the the combined business will “still compete with other international and national hotel chains, as well as many independent hotels and accommodation providers”. Accor’s business is mainly focused on hotel style accommodation and its brands include Sofitel, Novotel, Mercure and ibis. Mantra’s focus is on serviced apartments, which it offers through its Peppers, Art Series, Mantra and Breakfree brands. ACCC chairman Rod Sims noted the combined Accor-Mantra “will have a large number of properties in some areas, particularly in certain holiday destinations in Queensland. However, in each case and after a detailed review the ACCC has found that there are also sufficient other options nearby for visitors which will provide competition to Accor-Mantra”.
IHG expands luxury footprint, acquires 51% stake in Regent Hotels & Resorts
InterContinental Hotels Group (IHG) announced it will acquire a 51% stake in Regent Hotels and Resorts for USD39 million in cash, as well as an option to acquire the remaining 49% interest in a phased manner from 2026. IHG will bring Regent into its brand portfolio at the top end of the luxury segment and will accelerate its growth globally. IHG CEO Keith Barr, commented: “IHG is already one of the world leaders in luxury with our InterContinental Hotels and Resorts brand, but we see significant potential to further develop our global footprint in the fast-growing luxury segment. As one of the pioneers in defining luxury hotels both in Asia and around the world, Regent is an excellent addition to IHG’s portfolio of brands.
Tourism Australia announces fund to support bids for business events
Tourism Australia announced the creation of an AUD12 million (USD9.3 million) national bid fund for the business events industry. The Business Events Bid Fund Program will be available from 01-Jul-2018 for a three year period to support bids for new, high-value international incentive, association, and exhibition events. Tourism Australia already supports the Australian business events industry through its marketing communications and distribution development activities, including the Advance Program which supports delegate acquisition activities for existing international business events taking place in Australia. Tourism Australia MD John O’Sullivan said that being able to offer financial incentives to help convert bids of national significance into confirmed business would allow Australia to compete more aggressively with the many destinations that already operated national bid funds. The fund will be managed by Tourism Australia’s business events unit, Business Events Australia. The new bid fund will support expenditure on goods & services that assist in the delivery of events, for example accommodation or venue hire costs.