The Blue Swan Daily brings you the first of this week’s round up of some of the latest accommodation news from across the globe.
- IHG grows the Holiday Inn Express brand across Europe – largest hotel arrives in Amsterdam while Budapest gains new build
- Cycas Hospitality signs deal to bring Radisson Hotel & Suites concept to western Europe
- Short-term rentals show strength and have outperformed the hotel sector during Covid-19 pandemic
- Data metrics – latest performance insights from STR
- News briefs – bitesize updates of latest industry news and developments
IHG grows the Holiday Inn Express brand across Europe – largest hotel arrives in Amsterdam while Budapest gains new build
InterContinental Hotels Group (IHG) has opened the Holiday Inn Express Amsterdam – North Riverside, the largest Holiday Inn Express property in Europe. Located on the northern shore of the IJ-lake, just a short free ferry ride from Amsterdam City Centre, the hotel has 438 rooms, all featuring the brand’s latest concepts a Next Generation design solutions. IHG has also signed a franchised agreement with Borealis Hotel Group for the opening of the Holiday Inn Express Budapest City Centre. The 189-room hotel will be the first Holiday Inn Express in Budapest is expected to open late 2022 and will be the first IHG hotel to enter the Hungarian market in over 20 years. IHG currently has only two hotels open in Hungary, the InterContinental Budapest and the Holiday Inn Budapest – Budaors. Holiday Inn Express is IHG’s largest and fastest growing hotel brand globally with 2,872 hotels open and an additional 761 set to open in the next few years. Across Europe, there are over 250 Holiday Inn Express hotels open and 71 due to open in the next three-to-five years.
Cycas Hospitality signs deal to bring Radisson Hotel & Suites concept to western Europe
Cycas Hospitality has signed a lease agreement with ECHO Partners to operate its first Radisson-branded property; the Radisson Hotel & Suites Amsterdam South. The property becomes Cycas’s sixth global hospitality partner in a deal marking Cycas’s fifth Benelux property, and its third in Amsterdam, plus the debut of Radisson’s hotel and suites concept in Western Europe. To appeal to both transient and longer-staying travellers visiting the popular Dutch city, each of the studio, one-bed and two-bed apartments has its own fully-equipped kitchen. Other facilities at the canal-front hotel include a gym, on-site bar and restaurant with outdoor terrace seating, plus underground parking for 70 cars. Located in Amstelveen to the south of the city, the 10-storey, 227-suite aparthotel is due to open in early 2021. Its location puts it within walking distance of the offices of international companies who have their headquarters in Amsterdam’s booming district, such as KPMG, KLM and Canon.
Short-term rentals show strength and have outperformed the hotel sector during Covid-19 pandemic
Short-term rentals have maintained higher performance levels than hotels during the time of the Covid-19 pandemic, according to the preliminary findings of a joint global analysis by STR and AirDNA. The companies looked specifically at performance of traditional hotels, hotel-comparable short-term rentals (studios and 1-bedroom units) and larger short-term rentals (2 bedrooms or more). The analysis used weekly data from Mar-2019 through the week ending 27-Jun-2020. It found that while supply fluctuations remained consistent across the three accommodation types, traditional hotels saw the most severe year-over-year declines in performance as well as the lowest absolute points during the pandemic. During the most recent week of the analysis, larger short-term rentals showed the highest occupancy level of 61.4%. Short-term rentals most comparable with hotels came in at 58.2%, while traditional hotels were at 39.2%. For most of the time of the pandemic, larger short-term rentals posted the most favourable week-over-week percentage change in average daily rate (ADR). During the final two weeks of the analysis, however, traditional hotels showed the highest growth of 5.1% and 2.4%, respectively. The analysis, which will be fully available in the coming weeks, also found that regional areas are seeing faster performance gains than urban areas across the both accommodation sectors.
Data metrics – latest performance insights from STR
- Hotels in Africa reported lower occupancy but improved room rates from the previous month, in Jun-2020. In comparison with Jun-2019, occupancy dropped -76.8% to 13.8%, ADR fell -27.1% to USD74.13 and RevPAR declined -83.1% to USD10.23. Africa saw its lowest absolute occupancy and RevPAR levels for any June on record.
- The Asia Pacific hotel industry reported continued improved performance from previous months but at overall low levels during Jun-2020. In comparison with Jun-2019, occupancy declined -43.0% to 38.8%, ADR fell -35.2% to USD58.86 and RevPAR was down -63.1% to USD22.82. Although levels are up from May-2020, the absolute levels in each of the three KPIs were the lowest for any June on record in the region.
- The Central/South America hotel industry reported slight improvement in occupancy month over month, but lower room rates in Jun-2020. In comparison with Jun-2019, occupancy fell -68.9% to 17.3%, ADR was down -34.6% to USD53.77 and RevPAR declined -79.7% to USD9.31. The absolute occupancy and RevPAR levels were the lowest for any June on record in the region.
- Reflecting early reopening around the continent, the hotel industry in Europe reported improved performance from May-2020 in Jun-2020 but at an all-time low level for the month. In comparison with Jun-2019, occupancy fell -72.8% to 21.6%, ADR was down -34.8% to EUR83.69 and RevPAR declined -82.3% to EUR18.11. The absolute occupancy, ADR and RevPAR levels were up from May-2020 levels, but were the lowest for any June on record.
- Hotels in the Middle East reported lower occupancy but improved room rates from the previous month, in Jun-2020. In comparison with Jun-2019, occupancy was down -42.9% to 33.6%, ADR fell -24.9% to USD97.31 and RevPAR declined -57.1% to USD32.72. The Middle East saw its lowest absolute occupancy and RevPAR levels for any June on record.
- Ascott Residence Trust (ART) has entered into two conditional agreements to divest Ascott Guangzhou in China and Citadines Didot Montparnasse Paris in France to two unrelated third parties respectively, for a total of about SGD191.4 million. ART is expected to realise total estimated net gains of about SGD23.2 million upon the completion of both transactions.
- The new Parisian boutique hotel Chouchou will open in Sep-2020 five months later than originally planned as part of the Elegancia Hotels collection of design and boutique establishments. The 63-room property is located on Rue du Helder close to Palais Garnier in the French capital’s Opera district and will offer a design “showcasing French craftmanship”.
- Dutch hotel and lifestyle brand Citizen M is to expand its portfolio in Germany after agreeing a deal with local project developer GBI to jointly find suitable plots and build new properties in some of the country’s largest cities. The focus for the expansion will be on Munich, Hamburg, Frankfurt and Berlin with plans to debut several hotels in each of these locations.
- Dream Hotel Group has confirmed six of its iconic lifestyle hotels are now open and safely welcoming back guests. These comprise Dream Nashville in Nashville, TN; Dream Hollywood in Los Angeles, CA; Dream South Beach in Miami Beach, FL; The Time Nyack in Nyack, NY; Unscripted Durham in Durham, NC; and Heritage House Resort & Spa in Mendocino County, CA.
- Lybra has announced a two-way integration with OTA Insight’s Rate Insight, a cloud-based data intelligence platform for the hospitality industry. As part of the partnership, Rate Insight’s current, historical and future rate data will be integrated into Lybra’s Assistant RMS, enabling the RMS to seamlessly and automatically provide OTA Insight’s hotel clients with the accurate real-time price suggestions, as market conditions change.
- Nobu Hospitality will debut in Africa next year as the current Pearl Marrakech in the Hivernage district of the Moroccan city is transformed into the Nobu Hotel Marrakech. The rebranding will take place from the third quarter of 2021 with the 71-room Nobu property housing indoor and outdoor swimming pools and a selection of dynamic dining venues and rooftop spaces”, as well as meeting and event space.
- Oaks Hotels, Resorts & Suites has made its move on Queensland’s largest inland city, Toowoomba, with the launch of Oaks Toowoomba Hotel at the start of Jul-2020. The 102-suite, five-storey, new-build development is located on Kwong Sang Walk and is part of the ongoing revitalisation of Ruthven Street in the CBD. It comprises one-, two- and three-bedroom hotel rooms and suites, each accommodation type offers a private balcony and modern furnishings. Two- and three-bedroom rooms also include kitchenette facilities.
- The Park Hyatt Auckland will officially open its doors to guests from 15-Sep-2020. The property overlooks Waitematā Harbour and includes 195 guest rooms ranging in size from 47 square metres to the 245 square metre Presidential Suite. All accommodations offers distinctive Maori features. This represents the Park Hyatt’s debut in New Zealand and the seven-storey property has been designed to reflect a Māori wharenui (house).