Budget hotels tips

Apeejay Surendra Park Hotels, commonly known as Park Hotels, is set to have its IPO on February 5. The group currently operates 30 hotels in 20 cities across India, with 2,298 rooms. Through a strategic mix of ownership, management contracts and leased properties, the group aims to open 56 hotel by 2026.

Wyndham‘s executives saw March 11 as a fresh start for their hotel franchising company – that was the day Choice Hotels abandoned its hostile merger bid.

Premier Inn’s owner Whitbread said on Wednesday that a shrinking supply of budget hotels in the UK will strengthen its pricing power for years to come.

Whitbread’s Premier Inn reported strong third-quarter occupancy figures for its 890 hotels, averaging 85 percent. Executives credited the performance to travelers becoming more cost-conscious during an inflationary period in its key markets of the UK, Germany, and the Middle East and thus migrating away from costlier hotel brands.

Starwood Capital, a real estate investment firm run by Barry Sternlicht — who has scaled up high-end brands W Hotels, St. Regis Hotels, 1 Hotels, Treehouse Hotels, and Baccarat Hotels — said it would help launch a limited-service hotel brand focused on the outdoor sector. Enter the iconic media brand Field & Stream, founded in 1895.

Premier Inn owner Whitbread Plc on Tuesday reported its annual profit above pre-pandemic levels, beating expectations, buoyed by strong demand for accommodation and leisure travel in the wake of holiday periods devoid of Covid-19 restrictions.

Premier Inn, the UK’s largest hotel chain, wants to expand its budget brand in the larger German market — partly through mergers and acquisitions.

While there is no information yet on the availability of ICC Cricket World Cup 2023 tickets, fans have in large numbers already booked their accommodation in host cities. Hotel room rates in Gujarat’s Ahmedabad have already skyrocketed more than 10-fold during the match days, especially for October 15 ahead of the highly-anticipated India-Pakistan match.

Wyndham Hotels & Resorts reported on Thursday that it saw weaker profitability in the second quarter. The operator of hotels with about 851,500 rooms worldwide faced tough year-over-year comparisons. Its portfolio skews toward affordable roadside hotels, which benefited especially strongly in the immediate months of the pandemic easing.