5 things to know: 28 December 2017
5 things to know: 28 December 2017
28 DECEMBER 2017 10:02 AM

From the desks of the Hotel News Now editorial staff:

  • Ice warnings delay flights across UK
  • Hispania buys 24% stake in Bay Hotels & Leisure
  • A look at CEO shifts in 2017
  • Investors show interest in AccorInvest
  • Flagstaff hotels struggle with lack of snowfall

Ice warnings delay flights across U.K.: Travelers in the United Kingdom spent the night in airports after flights were canceled due to heavy snow and ice, Sky News reports.

A spokesperson from London Stansted Airport told the news outlet that Ryanair and Easyjet canceled flights due to “adverse weather conditions.”

“There are up to 300 passengers in the terminal waiting to rebook flights,” the spokeperson said, according to Sky News. “Passengers unable to return home are being looked after by Stansted Airport with beds and blankets, and additional help for elderly passengers or those with young children.”

Hispania buys 24% stake in Bay Hotels & Leisure: Hispania announced that it’s signed an agreement with Barceló Group to acquire a 24% stake in the company’s subsidiary Bay Hotels & Leisure (BAY), according to a news release.

The total cost of the transaction, which also terminates “the shareholders agreement relating to BAY,” is €172.4 million ($206 million), the release states.

Hispania also will acquire the hotel Barceló Marbella as part of the deal.

A look at CEO shifts in 2017: The fast pace of mergers-and-acquisitions activity and other factors led to a number of CEO changes in 2017, HNN’s Terence Baker reports.

Big CEO moves took place this year at Carlson Hotel Group, Choice Hotels International, Deutsche Hospitality group and InterContinental Hotels Group, among others.

Chris Mumford, managing director at advisory firm AETHOS Consulting Group, said 2016 might have served as the calm before the storm for CEO changes.

“The industry standard for how long a CEO typically remains in office is seven years with, historically, North American CEOs staying in place longer than those in Asia and Europe,” he said.

Investors show interest in AccorInvest: AccorHotels is negotiating with French and international investors to sell part of AccorInvest’s share capital, according to a news release.

“The Group announces today having received several detailed confirmations of interest. Discussions with these investors are engaged in order to reach a final agreement soon, to create value for all stakeholders,” the news release states.

Flagstaff hotels struggle with lack of snowfall: No snow has hit Flagstaff, Arizona, this year, which has led to a slowdown in business for hotel owners in the area, the Arizona Daily Sun reports.

Ash Patel, who owns three hotels in Flagstaff, said the hotel industry in the city has suffered this season.

“Normally the weekend of Christmas to New Year’s is a very high impact week,” Patel told the newspaper. “In essence we get traffic from all over. This year unfortunately the traffic has not been good and we at our hotels are down by 20% to 25%. Rates are also much lower as demand is slower.”

Compiled by Danielle Hess.

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