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Ascott expands global presence with 26 new properties across 11 countries

Ascott expands global presence with 26 new properties across 11 countries

Steady rise in recurring fee income and enlarged asset size strategically position lodging business as a growing contributor to CapitaLand’s earnings. CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), is accelerating its growth globally with the signing of 26 properties with over 6,000 units across 22 cities and 11 countries. The properties, which will open in phases from 2019 to 2023, are mostly signed under management contracts, with three on franchise agreements. To date this year, Ascott has signed contracts for over 40 properties with more than 8,000 units, an increase of over 40% in units compared with the same period in 2018. Ascott has also opened 16 properties with over 2,000 units, a 70% increase in operational units compared with 2018. Mr Kevin Goh, Ascott’s Chief Executive Officer, said: “We are fast-expanding Ascott’s global network of properties as we continue to pursue an asset-light business model to boost our recurring fee income. While we achieve strong momentum in expanding our global lodging business through strategic alliances, management contracts, franchise and leases, we are also accelerating the number of new property openings. For the first quarter this year, our operational units have contributed S$59.7 million of fee income. We are targeting to open over 40 properties with about 8,500 units this year. For every 10,000 serviced residence units signed, we are expecting to earn approximately S$25 million in fee income annually as the properties progressively open and stabilise. Through these growth strategies, we are looking forward to the fee income boost when we achieve our target of 160,000 units worldwide by 2023.” With the recent completion of the Ascendas-Singbridge transaction, CapitaLand through Ascott has become the sponsor of both Ascott Residence Trust (Ascott Reit) and Ascendas Hospitality Trust (A-HTRUST). Including the assets held under these two hospitality trusts, lodging assets under CapitaLand are valued at S$31 billion, equivalent to 25% of the Group’s total assets under management. An announcement proposing to combine the two trusts has been made on 3 July 2019.

Create: Jul 22, 2019     Edit: Aug 2, 2019     International News
Accor to open first Raffles in Bahrain

Accor to open first Raffles in Bahrain

Accor has announced plans to debut its luxury Raffles brand in the Kingdom of Bahrain. It will see the conversion of the luxury Al Areen Palace and Spa, pictured above, though a timeline has not been given. Accor and hotel operators GFH Financial Group said that property alterations would include the refurbishment of 56 one-bedroom Desert Pool Villas and 22 two-bedroom Royal Pool Villas. Two more dining options will be added to the current four and the 10,000 sqm spa will be renovated. Nearby venues include the Bahrain International F1 Circuit and the new Bahrain Exhibition and Convention Centre. Raffles currently has two properties in the Middle East, in Dubai and Mecca. Another is set to open in 2021, in Jeddah, Saudi Arabia. Its other hotels are in the Cambodian cities of Phnom Penh and Siem Reap; the Chinese cities of Hainan and Shenzen; the Indonesian capital Jakarta; the Philippine capital Manila; Praslin in the Seychelles; Meradhoo Island in the Maldives; and Paris, Warsaw and Istanbul in Europe. The original Raffles hotel in Singapore, which opened in 1887, is set to reopen on August 1 following a two-year renovation. Eight new destinations are scheduled to join the brand’s portfolio in the coming years, including Udaipur in India and Boston in the US. “We are delighted to partner with GFH Financial Group, one of the leading investment houses in the Gulf region, to debut the Raffles brand in Bahrain, a destination which has emerged as a sophisticated option for discerning travellers from the Gulf and all over the world,” said Mark Willis, Accor’s CEO for the Middle East and Africa. “This continued growth signals a remarkable new chapter in the success story of Raffles, a revered global luxury brand with an illustrious history and a reputation for extraordinary properties in the world’s best cities and most sought after resort locales; the Kingdom is a natural fit for the exclusive Arabia-meets-Asia palatial retreat experience that we have planned.”

Create: Jul 21, 2019     Edit: Aug 2, 2019     International News
World Tourism Organization Leads Discussion on “Tourism Financing for the 2030 Agenda” at Aid for Trade Conference in Geneva Geneva

World Tourism Organization Leads Discussion on “Tourism Financing for the 2030 Agenda” at Aid for Trade Conference in Geneva Geneva

Tourism’s unique potential as a tool for driving the global sustainable development agenda has taken center stage at a special event hosted by the World Tourism Organization (UNWTO) in Geneva, Switzerland. The session, entitled “Tourism Financing for the 2030 Agenda” was held during the 2019 Global Review of Aid for Trade at the headquarters of the World Trade Organization (WTO). UNWTO Secretary-General Zurab Pololikashvili began the discussions by highlighting the key role that the global tourism sector plays in economic growth and job creation. Ministers, development partners and financing institutions need to better understand and recognize how tourism can contribute to the 2030 Sustainable Agenda. Tourism is explicitly mentioned as a target in three of the 17 Sustainable Development Goals (8, 12 and 14), though, as speakers at the Geneva session noted, for the sector to really realize its enormous potential, the amount of aid and development financing directed towards tourism needs to be increased significantly. Unlocking Tourism’s potential for realizing the 2030 Agenda requires a combination of effective and robust policy frameworks, enhanced private sector action, and an innovative approach to partnerships for development cooperation. “This is an important time for both the tourism and the international development sectors,” said Mr. Pololikashvili. “Strengthening and unlocking aid flows for tourism will help the sector be a driver of job creation, as well as of social and economic development and economic diversity. UNWTO welcomes the opportunity to join ministers, tourism leaders and our partners for these important talks here in Geneva. Working together we can harness the power of the new aid architecture and ensure that nobody gets left behind as tourism transforms lives around the world.” Also joining Mr Pololikashvili for the session were Ms. Arancha González, Executive Director, International Trade Centre (ITC), H.E Dr. Rania Al- Mashat, Minister of Tourism, The Arab Republic of Egypt, Mr. Toshiyuki Nakamura, Director General, Japan International Cooperation Agency (JICA), and Ms. Caroline Freund, Director of Trade, Regional Integration and Investment Climate, World Bank.

Create: Jul 15, 2019     Edit: Jul 17, 2019     International News
Accor and meetago signed global partnership to meet MICE demand

Accor and meetago signed global partnership to meet MICE demand

In the context of IMEX, Accor and meetago® agreed on a strategic international partnership for its core meeting and events business today. This deeper level of cooperation was officially stamped and sealed on the basis of their already existing successful collaboration. meetago® provides booking and software solutions in the fields of meetings, incentives, conferences & exhibitions (“MICE”, for short) and is one of the biggest players in Central Europe. meetago®’s booking technology and services will be offered by Accor, not only in the DACH (Germany-Austria-Switzerland) region, but across Europe and in a few key source markets such as the US and China. With the launch of this partnership, the jointly developed Connectivity Solution will be available to more than 1,600 meeting hotels worldwide. The offer is focused on a comprehensive and attractive portfolio of meeting and conference hotels across all brands. The Accor and meetago® partnership aims to make booking and managing conferences, events and business meetings faster, more global and more efficient for hotels and event organisers. It will make meeting demand from corporate customers easier and will promote the continued international expansion of the meeting business of both partners. “Through the strategic partnership with meetago®, we are responding to growing demand from our corporate customers and we will be making our offer available centrally via one platform in the future. We also provide more comprehensive and efficient services with a higher level of digitalisation to the conference industry”, said Sabine Toplak, Accor Vice President Sales Central Europe. “We are very pleased to be expanding our collaboration with Accor, which will further advance our global growth. We want to use innovative ideas to provide an excellent user experience”, explained Udo Lülsdorf, CEO and founder of meetago®.

Create: Jul 9, 2019     Edit: Jul 10, 2019     International News
Airbnb recently had a victory in Europe, after the court of justice there ruled the company be considered a digital service provider.

Airbnb recently had a victory in Europe, after the court of justice there ruled the company be considered a digital service provider.

Made by Maciej Szpunar, one of the European Court of Justice’s advocates general, the ruling essentially gives the digital travel company the ability to operate freely across the European Union. Szpunar found that Airbnb was what Brussels would consider an information society service. This ruling came with a rejection for those who felt otherwise. A French tourism association had argued that Airbnb should face the same accounting, insurance and other financial obligations of traditional providers of real estate. Airbnb, which is registered in the EU nation of Ireland, argued that its commercial activities involve matching property owners with people who are looking for a place to stay, a role which falls outside of traditional real estate brokerage. Part of the legal decision involved the way Airbnb’s assertion was challenged. Szpunar said the French government had not properly notified the European Commission as well as authorities in Ireland that it intended to apply French law to Airbnb. Furthermore, he determined that Airbnb was an online service which connected potential guests with hosts for short-term stays, which was essentially what the company argued. It was unclear whether a proper notification would have changed this judgement. THIS DECISION’S AFTERMATH A natural next question is what happens now? It’s important to note that this decision is non-binding, although the court takes the advice of its advocates general in 80% of cases. Airbnb, unsurprisingly, said it welcomed the opinion as a “clear overview of what rules apply.” This decision could be a telling one. France is not the only market in which Airbnb has faced forces advocating for a crackdown on the way it operates. Other cities in which Airbnb has caused civic issues include Amsterdam and Barcelona, both of which are also in the EU. Challengers criticize the company for changing the face of the neighbourhoods in which it operates, basically removing their personalities and turning them primarily into locales for short-term guests and hordes of out-of-town tourists. This ruling is already significant given that France is the company’s single largest market outside of the United States. Paris, meanwhile, is its biggest single city market, with 65,000 homes there listed on the site. A spokesman for the company said: “We welcome the opinion of the advocate general, which provides a clear overview of what rules apply to collaborative economy platforms like Airbnb and how these rules help create opportunities for consumers.” “We also want to be good partners and already we have worked with more than 500 governments around the world on measures to help hosts share their homes, follow the rules and pay their fair share of tax,” the spokeswoman went on to say. “As we move forward, we want to continue working with everyone to put locals at the heart of sustainable 21st-century travel.

Create: Jul 6, 2019     Edit: Jul 8, 2019     International News
Marriott expands in Tanzania with new Four Points property

Marriott expands in Tanzania with new Four Points property

Marriott International has announced the opening of its second Four Points by Sheraton hotel in Tanzania, Four Points by Sheraton Dar es Salaam, New Africa Hotel. The original New Africa Hotel was built as the official residence of Kaiser Wilhelm II in 1896. It was used as a hospital during World War I before being converted into a hotel during the British Empire. Sitting at the heart of the central business district of the city, overlooking the harbour, the hotel has since emerged as a landmark and an integral part of the burgeoning city. With the renovation and the rebrand the hotel continues to retain its unique charm, while delivering on the brand’s promise to provide what matters most to today’s independent travellers. “Four Points by Sheraton Dar es Salaam, New Africa Hotel, is a great addition to our rapidly growing footprint in Africa and further consolidates the brands presence in Tanzania. “We are confident that with its blend of stylish comfort and genuine service at a great value, the hotel will meet the rising demand for high-calibre lodging in this fast-growing market and soon emerge as a leading choice among business and leisure travellers,” said Alex Kyriakidis, president and managing director, Middle East and Africa, Marriott International. Designed for the modern traveller with an emphasis on approachable design, the 174 room Four Points by Sheraton Dar es Salaam, New Africa Hotel, features spacious and contemporary rooms including suites. Other facilities include an outdoor pool and a state-of-the-art fitness centre. With 1,000 square feet of indoor meeting and banquet space spread across 12 flexible meeting rooms, the hotel is an ideal venue for gatherings of any size including elaborate social events and weddings. “Our vision is to offer an uncomplicated travel experience for both business and leisure. “Perfectly situated in the heart of the city, the hotel is at the epicentre, steeped in history and surrounded by local attractions,” said Siddharth Chaudhry general manager, Four Points by Sheraton Dar es Salaam, New Africa Hotel. “We look forward to welcoming our guests with the brand’s signature warm and uncomplicated yet comfortable service.”

Create: Jul 6, 2019     Edit: Jul 8, 2019     International News


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