Global Hotel Investment Volume Decelerated in 2022

Good morning from Skift. It’s Friday, September 1. Here’s what you need to know about the business of travel today.

From today’s Daily Lodging Report newsletter: Nikkei Asia published an article on Hilton planning to expand its luxury offerings in Asia. Hilton will be bringing its Waldorf Astoria brand to Malaysia, Vietnam, India, and other countries for the first time as part of its plans to open 25 new luxury hotels in the Asia Pacific region over the next few years. That’s up from the 33 luxury hotels it currently runs in the Asia Pacific.

Can hotels exert more influence in policy-making? Where will future development growth come from? Is generative AI relevant to the hotel sector? These and other subjects will be top of mind for us as we interview top bosses at Hilton, Hyatt, Accor, and other hotel leaders on-stage at the Skift Global Forum in New York on September 26-28.

Here are some excerpts from Daily Lodging Report from the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. Sign up here, now.

Kerzner International has unveiled its new brand Siro, a set of fitness-themed lifestyle hotels. The developer said on Wednesday that it has slated to open its first property in a tower in One Za’abeel, a luxury community in Dubai, U.A.E., in the last months of 2023.

Here are some excerpts from Daily Lodging Report by Alan Woinski from the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. Sign up here, now.

Here are some excerpts from Daily Lodging Report from the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. Sign up here, now.

Sales of hotel rooms are booming post-pandemic. But market turmoil will likely put most dealmaking for hotel assets on hiatus for the first half of the year.

For years, the third-party managers of hotels have stayed behind the scenes, working on behalf of owners to staff and run properties. But Springboard Hospitality, a manager of 40 hotels in 10 U.S. states, seeks to become a consumer brand that markets its lifestyle hotels directly to travelers.

Accor put in place the pieces for a corporate re-organization this month. But this re-org is one of a few over the roughly decade-long reign of Sébastien Bazin, chairman and CEO. The latest changes have prompted some eye-rolling from analysts at investment banks and executives at competitor hotel giants.

Hyatt Hotels Corp., which enjoyed a blockbuster financial performance in 2022, forecasted Thursday continued success this year, especially in the first half. The company expects to benefit from growing consumer interest in its lifestyle, luxury, and resort properties, returning group reservations for its banquet halls, and an expanding room count.

For InterContinental Hotels Group (IHG), soaring hotel rates owing to a post-pandemic surge in pent-up demand for travel have been a boon after the pandemic bludgeoned the travel sector. But IHG Hotels & Resorts said its pricing power would last beyond the present moment thanks partly to its investments in digital technology. The company also anticipated future growth as China, the world’s second-largest economy, reopens.