From the desks of the Hotel News Now editorial staff:
- ARA buys portfolio of 38 US Hyatt hotels
- Hotel challenges vary in markets around the globe
- Weekly results for the US hotel industry
- CSM appoints lodging president
- Strange things you can borrow at hotels
ARA buys portfolio of 38 U.S. Hyatt hotels: Singapore-based ARA Asset Management announced that the company completed the acquisition of a portfolio of 38 hotels in the U.S. branded under Hyatt Hotels Corporation, according to a news release.
The buy of the hotels across 21 states marks ARA’s move into the U.S. The purchase price was not disclosed in the release.
“Over the past year, ARA has made headways in expanding globally as we established our presence beyond Asia Pacific to Europe. This latest acquisition marks our first foray into the United States with a sizable portfolio of 38 quality, well-connected, select-service hotels geographically diversified across the country,” John Lim, group CEO of ARA, said in the release.
Hotel challenges vary in markets around the globe: In a roundup of coverage looking back at market reports over the past six months, HNN’s Dana Miller writes that six markets around the world had something in common: they are looking to “capitalize on opportunities to drive demand while overcoming their own unique challenges.”
HNN’s Terence Baker reports that Egypt is making a comeback. Sources in the article said a number of factors in the region were strengthening recovery and boosting hotel development, which includes new investment laws passed in 2017, which have settled nerves.
In Portland, hotel owners and operators are feeling the effects of new supply, but are working to boost demand by offering unique experiences, HNN’s Dan Kubacki wrote in July. Provenance Hotels’ corporate director of operations, Chris Bebo, told Kubacki that “while domestic travel certainly has increased over time, the biggest increase is in foreign travel coming to Portland.”
Weekly results for the U.S. hotel industry: Hoteliers in the U.S. enjoyed positive year-over-year results in the three key performance metrics for the week ending 1 December, according to data from STR, parent company of HNN.
Compared to the week of 26 November through 2 December 2017, occupancy rose 1% to 57.3%, average daily rate increased 2.2% to $120.23 and revenue per available room grew 3.3% to $68.93.
San Diego saw the largest spike in RevPAR of 45.2% to $116.29 among the top 25 markets. Houston reported the largest drops across the three main KPIs.
CSM appoints lodging president: CSM Corporation announced that it has appointed Mark Prince as president of lodging and residential properties for the company, according to a news release. The portfolio he will oversee includes more than 6,600 hotel rooms and 2,500 residential units under the company’s management.
“Mark’s well-rounded background, along with his vast experience in the hotel and multifamily housing field make him an ideal president for our Lodging and Residential Properties divisions,” Gary Holmes, CEO of CSM, said in the release.
Prince previously served as divisional VP of operations and COO for senior living provider Holiday Retirement.
Strange things you can borrow at hotels: At some hotels, the things that can be borrowed by guests or given to guests extends way beyond a toothbrush. Reader’s Digest took a look at the interesting things some hotels will lend to guests.
Odd items include a goldfish in a fishbowl for the nightstand in your room at The Roxy Hotel; a coat for your dog at the Crowne Plaza HY36; and rubber duckies for the bath at the Pechanga Resort Casino.
Compiled by Danielle Hess.