Article Summary: From the desks of the Hotel News Now editorial staff:
From the desks of the Hotel News Now editorial staff:
Primary Category: 5 Things to Know
Secondary Categories: News
Famous London brewer now to focus on hotels: Fuller’s, the London brewery founded in 1654, will concentrate on its hotels and pub business following news it has agreed to sell its “entire beer business” to Japanese brewer Asahi Group Holdings for “an enterprise value of £250 million ($327 million) on a debt free, cash free basis,” according to a news release. Fuller’s, whose most famous beer is London Pride, will continue brewing in its original Chiswick, London, home.
Fuller’s executives said the deal would allow it to concentrate on its pubs and 28-hotel lodgings business. InterContinental Hotels Group and Whitbread PLC, owner of the Premier Inn brand, both also started as brewing companies. IHG came out of Bass, while Whitbread has always been Whitbread but only got out of the beverage business with its recent completion of the sale of its Costa Coffee division to Coca-Cola. The United Kingdom’s BrewDog has also ventured into the hotel business with the opening of its DogHouse Hotel and Brewery in Canal Winchester, Ohio.
U.S. government employees miss second paycheck: The government shutdown in the U.S. today reached the second missed paycheck for hundreds of thousands of federal employees as arguments and proposed deals continue after two Senate resolutions on 24 January failed to reach the 60 vote threshold, reports The Wall Street Journal.
The WSJ said there are “signs of a thaw in negotiations, (but) the shutdown is expected to last into next week.” The shutdown has directly affected approximately 800,000 federal employees since it began on 22 December.
Weekly performance results for US hotels: Hotels in the U.S. reported positive year-over-year results in the three key performance metrics for the week ending 19 January, according to data from STR, parent company of Hotel News Now.
Occupancy increased 5% to 58.4%, average daily rate increased 3.4% to $124.32 and revenue per available room increased 8.5% to $72.54. STR analysts partially attribute the week’s substantial growth figures to a calendar shift. Growth for Monday of the week was especially pronounced due to comparison with Martin Luther King, Jr. Day last year: 14 January, 2019 (standard business day) versus 15 January, 2018 (MLK Day).
Among the top 25 Markets, Atlanta saw the largest increase in RevPAR (39.1% to $95.62), driven by the second-largest increase in occupancy (16.8% to 74.4%) and the highest rise in ADR (19.1% to $128.51).
Avoiding HR mistakes in the hotel space: Handling and managing thousands of employees can be a treacherous endeavor, especially with notable staff turnover, but despite all the warning signs, mistakes can still be made, writes HNN’s Bryan Wroten.
Speaking with academics and lawyers, it is evident, Wroten says, the areas in which mistakes and poor judgments of error are conducted are in the areas of religious sensibilities, curtailed recruitment policies in tightened job markets and a lack of necessary and/or legal training.
M&G invests £203m in London hotel for 2021: United Kingdom private equity company M&G Investments has announced it will invest £203 million ($265.5 million) in a hotel development due to open in the Paddington district of London in 2021, according to the city’s Evening Standard newspaper.
The project will have 620 hotel rooms, with, supposedly, Whitbread PLC’s Premier Inn and aparthotels firm Staycity having already signed up for 30-year leases with 60% (370 rooms) and 40% (250) of the accommodations, respectively. The report said the deal is Whitbread PLC’s first since the exit of Costa Coffee.
Compiled by Terence Baker.
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Headline: 5 things to know: 25 January 2019
Article Date: 1/25/2019
Article Time: 11:35:00 AM