Hospitality News & Views From Across the Web

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Our team regularly monitors a number of key sources for the most interesting hospitality news and opinion pieces, so you don’t have to.  Those that catch our eye are reposted here, with content added most days, so be sure to bookmark this page and check back regularly.  Alternatively, if you would like to receive a weekly digest, why not sign up to our newsletter to have it delivered to your inbox every Thursday?

Company News
Hotel Owner

Accor reports loss of £336m in FY20

Accor has reported an EBITDA loss of £336m for the year ended 31 December 2020, marking a year-on-year swing of over £1bn. The group also revealed a major blow to its 2020 revenues, falling 60% from £3.5bn to £1.4bn in the period. Accor attributed the results to the “dramatic deterioration”

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Buyers out in Europe once more

Hotel investors have signalled the end of the pandemic hiatus, with a slew of new activity across Europe.   Private equity is looking outside the main EU eurozone area, with KSL moving into Croatia, following the recent news that Starwood Capital is venturing into the Nordics. Meanwhile, new funds are picking off developments,

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Blue collar winners

Asset light operators Wyndham and Choice fared better than most through the pandemic, with Choice turning a profit in the fourth quarter as they won market share.   At Choice, fourth quarter net income was USD7.865m, on revenues down 28% at USD63m. For the year as a whole, revenues were down 31% year on year.

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East plays west in battle for growth

Executives at hotel giants Marriott and Hilton are all looking forward to a happier 2021, with travellers moving around once more, and the prospect of lucrative business and group bookings restarting.   Both businesses are living with quarterly losses, but cash burn has fallen as head office teams have cut overheads. Revenues

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Scandic thrashes as Hyatt swims

The pandemic has delivered a sharp contrast in the way different hotel operating models have been able to cope with a massive drop in demand.   Aside from the purely asset-light brand groups, it has been the exposure of those with highly leveraged investment in hotels, and those with heavy property

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News
Hotel Owner

Belmond names SVP of global development

Belmond, a luxury hospitality and leisure company, has announced the appointment of Karl Bieberach as senior vice president of global development at the group. Bieberach will begin his new role at the company, which now acts as a part of French conglomerate Louis Vuitton Moët Hennessy (LVMH), from 22 March

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News
Hotel Owner

Moxy opens its second Edinburgh site

Moxy Hotels has announced the opening of the Edinburgh Fountainbridge hotel, its second site in the Scottish capital. Centrally located on Freer Gait, Moxy Edinburgh Fountainbridge features 262 guestrooms and a rooftop bar with views of Edinburgh Castle. The hotel’s interiors play on the building’s history as it has been

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