The franchise companies with the largest construction pipelines at the end of the third quarter of 2020 are Marriott International with 1,390 projects/184,450 rooms, followed by Hilton Worldwide with 1,351 projects/155,626 rooms, and InterContinental Hotels Group (IHG) with 873 projects/89,375 rooms.
Hotel Companies News
InterContinental Hotels Group has signed an agreement with Sukhumvit Centre Point to take on the management of Grand Sukhumvit Bangkok hotel in 2021.
McKibbon Hospitality has announced the addition of five hotels to its management portfolio.Owned by Hospitality Investors Trust (HIT), the five Hilton properties include Hampton Inn Boca Raton, Hampton Inn & Suites Boynton Beach, Hampton Inn Boca Raton-Deerfield Beach, Hampton Inn Palm Beach Gardens, and Hampton Inn West Palm Beach-Florida Turnpike.
Queensgate Investments and Rockwell has now been given the green light by the Greater London Authority (GLA) for the redevelopment of the Kensington Forum, to provide a world-class hotel and serviced apartment scheme alongside 62 genuinely affordable homes and substantial public realm improvements.
Qatar National Tourism Council (QNTC) has announced the launch of two new hotel and leisure destinations, opening late 2020 and early 2021.
Service Properties Trust (SVC) has announced that it has terminated the management agreements for 122 hotels with Marriott International (MAR).
Highgate has announced it has assumed management of Trust Hospitality portfolio assets, comprised of 22 hotels and resorts throughout the U.S., Caribbean and Latin America.
Marriott International has announced it has signed an agreement with Japanese real estate developer, Sekisui House, to bring 11 new Fairfield by Marriott hotels to Japan.
Preferred Hotels & Resorts has announced 13 new member hotels from May 1 through August 31, 2020. These recent additions mark 39 new member hotels to join the its global portfolio in the first 8 months of the year
Hotels have long been hives of remote working, from business travellers sending emails after meetings nearby to more recently, coworking spaces in communal areas attracting a new generation of digital nomads.
InterContinental Hotels Group (IHG) has signed a management agreement with Evalona Limited for two new build hotels in Bangladesh. The 200-room Holiday Inn Resort Kuakata is due to open in early 2026 and the 150-rooms Crowne Plaza Kuakata will open its doors to guests in Q1 2028.
Covivio, through its subsidiary Covivio Hotels held at 43.3 percent, has completed the acquisition of the portfolio of eight hotels located in Rome, Florence, Venice (x2), as well as in Nice, Prague and Budapest (x2) for €573 million (€248 million in Group share), including €86 million of capex.
Varde Partners, a global alternative investment firm, has announced the successful completion of its previously announced sale of a portfolio of eight luxury hotels operating under The Dedica Anthology brand to Covivio, a European real estate operator, through its subsidiary Covivio Hotels.
Sonesta International Hotels Corporation is rocketing towards the largest expansion in the history with the addition of 103 properties to its global portfolio of hotels and destinations.
Marriott International has reported second quarter 2020 results, which were dramatically impacted by the COVID-19 global pandemic and efforts to contain it (COVID-19).
Ascend Hotel Collection opened the doors to seven hotels in the first half of this year and added 10 to its pipeline. Amidst the current COVID-19 pandemic environment, the upscale brand is continuing to attract increased interest from independent hotel owners and travelers.
Thailand Minor Hotels has confirmed that its Avani Hotels & Resorts brand is on track to open more than ten new properties in the next few years, including debuting in four new countries.
CapitaLand wholly owned lodging business unit, The Ascott Limited continues to see strong demand for its coliving brand lyf, which caters to a growing segment of millennials who seek flexibility, value and enriching community experiences. Ascott is adding over 1,000 units across six new lyf properties.