Tag: hotels

Xenia Hotels & Resorts Completes Dispositions Of Hotel Commonwealth And Renaissance Austin Hotel

ORLANDO, Fla., Nov. 24, 2020 /PRNewswire/ — Xenia Hotels & Resorts, Inc. (NYSE: XHR) (“Xenia” or the “Company”) today announced it has completed the previously announced dispositions of the 245-room Hotel Commonwealth in Boston, Massachusetts for $113.0 million, or approximately $461,000 per key, and the 492-room Renaissance Austin Hotel in Austin, Texas for $70.0 million, or approximately $142,000 per key. In addition to the sale proceeds, the Company retained a total of $6.6 million in cash that was held in the properties’ FF&E reserves.

“We are pleased to have completed both of these transactions in an efficient manner,” commented Marcel Verbaas, Xenia’s Chairman and Chief Executive Officer. “Year to date, we have now sold four hotels for nearly $400 million. These dispositions have allowed us to efficiently raise a significant amount of capital at a superior cost to other alternatives. Additionally, we have successfully increased our balance sheet flexibility to help position the Company to be opportunistic as the recovery takes hold.”

The sale price for Hotel Commonwealth represented an 11.8x multiple on the hotel’s 2019 Hotel EBITDA, while the Renaissance Austin’s sale price represented a 6.8x multiple on its 2019 Hotel EBITDA. Including the dispositions of Residence Inn Boston Cambridge and Marriott Napa Valley Hotel & Spa, which were both completed in October, the combined sale prices of the four properties sold by the Company in 2020 represented an approximately 10x multiple on 2019 Hotel EBITDA.

“Our high-quality portfolio has afforded us the opportunity to create meaningful additional liquidity and balance sheet flexibility as the COVID-19 pandemic has profoundly impacted our Company and the lodging industry as a whole,” continued Mr. Verbaas. “The sale of Hotel Commonwealth at a highly attractive valuation, particularly given the current uncertain operating environment, is representative of the value embedded in our portfolio. Meanwhile, the sale price for Renaissance Austin reflects its dependence on corporate and group demand which have been severely affected by the pandemic, as well as the hotel’s substantial near-term capital needs and its location in a market where a significant number of higher-quality and better-located hotels have opened in recent years. Having completed the most recent renovations to the hotel’s guest rooms and the majority of its public and meeting space almost 8 years ago, we believe the sale of this non-strategic hotel, which achieved the second-lowest RevPAR in our portfolio in 2019, was the most prudent course of action at this time.  With our recently completed dispositions and additional balance sheet activity, we believe we have taken the right steps during this pandemic to position the Company for future growth.”

Proceeds from the sales will be utilized to repay borrowings under the Company’s line of credit and for general corporate purposes.

About Xenia Hotels & Resorts, Inc.
Xenia Hotels & Resorts, Inc. is a self-advised and self-administered REIT that invests in uniquely positioned luxury and upper upscale hotels and resorts, with a focus on the top 25 U.S. lodging markets as well as key

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Sam Nazarian Sells Hotels Stake To Accor

Sam Nazarian and Accor CEO Sébastien Bazin (Getty)

Sam Nazarian and Accor CEO Sébastien Bazin (Getty)

As a rising star of the Los Angeles club scene in the early aughts, Sam Nazarian helped create the hotel-as-party-spot with properties like his SLS in Beverly Hills and Miami. He teamed up with A-list designers like Philippe Starck and took the mantle of boutique-hotel impresario from Ian Schrager when he bought the Studio 54 co-founder’s Morgan Hotels group in 2016.

Now, Nazarian is cashing out of his hotels business to focus on the latest trend: ghost kitchens and digital restaurant brands.

Nazarian on Tuesday closed a deal to sell his remaining 50-percent stake in SBE Entertainment’s hotel brands to the French hospitality company Accor, he told The Real Deal. At the same time, Nazarian said he was increasing his ownership of SBE’s restaurant and virtual kitchens business. The cash-and-asset-swap deal values all the different lines of business at $850 million.

The hospitality mogul is moving out of hotels at a time when the pandemic has slammed the lodging industry, and as digital kitchens are proving to be a lucrative area of growth.

Accor, which bought half of SBE in 2018, had planned to purchase Nazarian’s remaining 50-percent stake in the hotel operating business in 2022. But SBE, which includes brands such as the Mondrian, SLS, Hyde and Delano hotels, expanded quicker over the past two years than the sides had originally expected so they decided to speed up the acquisition.

“The business has grown at a pace much faster than anticipated. We basically doubled the pipeline,” Nazarian said.

Through the transaction, Accor bought the operating companies for luxury hotel brands as well as the majority of SBE’s restaurants and nightlife brands, which include clubs like the Mediterranean eatery Cleo and Italian steakhouse Carna by Dario Cecchini. Accor is retiring SBE’s corporate debt, and the deal values the company at $650 million. Accor also plans to launch its own lifestyle platform.

Accor CEO Sébastien Bazin said in a statement that the transaction will accelerate growth with a “leaner management structure.” The company is Europe’s largest hotel operator.

In a separate deal, SBE is selling the real estate for the Hudson Hotel in Manhattan and the Delano Hotel in South Beach to a party that Nazarian declined to identify.

For his part, Nazarian is taking full ownership of SBE’s food and beverage business and increasing his stake in C3 — the platform that owns eateries like Umami Burger and Sam’s Crispy Chicken. The company, which includes mall owner Simon Property Group as an investor, is on track to open 200 digital kitchens by the end of the year. The transaction with Accor values those businesses at $200 million.

Nazarian will stay on as an adviser to Bazin for the next three years, at which point he’ll say goodbye to the line of business that evolved out of his time in the early 2000s when he quickly gained a reputation as Los Angeles’ nightclub king.

He expanded into hotels with the SLS Beverly Hills

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Hawaii Vacation Rentals Earned More Than Hotels

In October 2020, the total monthly supply of Hawaii vacation rentals was 373,600 unit nights (-57.0%) and monthly demand was 85,000 unit nights (-86.4%), resulting in an average monthly unit occupancy of 22.7 percent (-49.1 percentage points).

In comparison, Hawaii’s hotels had an average occupancy rate of 19.7 percent in October 2020. It is important to note that unlike hotels, condominium hotels, timeshare resorts, and vacation rental units are not necessarily available year-round or each day of the month and often accommodate a larger number of guests than traditional hotel rooms. The unit average daily rate (ADR) for Hawaii vacation rental units statewide in October was $208, which was higher than the ADR for hotels ($174).

The state’s pre-travel testing program started on October 15, allowing passengers arriving from out-of-state and traveling inter-county to bypass the mandatory 14-day self-quarantine with a valid negative COVID-19 NAAT test result from a Trusted Testing and Travel Partner. All other trans-Pacific travelers continued to be subject to the 14-day self-quarantine. The counties of Kauai, Hawaii, Maui, and Kalawao (Molokai) also had a partial quarantine in place in October.

On Oahu, short-term rentals (rented for less than 30 days) were not allowed to operate at the beginning of October. However, when Oahu moved to Tier 2 of its Reopening Plan on October 22, legal short-term rentals were allowed to reopen. For Maui County, travelers awaiting their pre-travel test results were allowed to stay at a vacation rental as their place of quarantine. On Hawaii Island and Kauai, legal short-term rentals were allowed to operate as long as they were not being used as a quarantine location.

The Hawaii Tourism Authority’s (HTA) Tourism Research Division issued the report’s findings utilizing data compiled by Transparent Intelligence, Inc. The data in this report specifically excludes units reported in HTA’s Hawaii Hotel Performance Report and Hawaii Timeshare Quarterly Survey Report. In this report, a vacation rental is defined as the use of a rental house, condominium unit, private room in private home, or shared room/space in private home. This report also does not determine or differentiate between units that are permitted or unpermitted. The “legality” of any given vacation rental unit is determined on a county basis.

Island Highlights

In October, Maui County had the largest vacation rental supply of all four counties with 138,500 available unit nights, which was a decrease of 53.5 percent compared to a year ago. Unit demand was 29,051 unit nights (-87.6%), resulting in 21.0 percent occupancy (-57.6 percentage points) with an ADR of $227 (-36.2%). Maui County hotels were 14.2 percent occupied with an ADR of $226.

Oahu vacation rental supply was 96,500 available unit nights (-59.4%) in October. Unit demand was 26,300 unit nights (-84.6%), resulting in 27.2 percent occupancy (-44.3 percentage points) and an ADR of $173 (-32.7%). Oahu hotels were 22.0 percent occupied with an ADR of $158.

The Island of Hawaii vacation rental supply was 80,000 available unit nights (-61.7%) in October. Unit demand was 17,416 unit nights (-86.7%),

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October Tourism Authority Report: Maui County Vacation Rentals at 21% and Hotels at 14.2% Occupancy | Maui Now

 

Maui vacation rental

File photo.

The Hawaiʻi Tourism Authority (HTA) released its Hawaiʻi Vacation Rental Performance Report for October. It shows Maui County had the largest vacation rental supply of all four counties with 138,500 available unit nights, which was a decrease of 53.5 percent compared to a year ago.

Unit demand was 29,051 unit nights (-87.6%), resulting in 21 percent occupancy (-57.6 percentage points) with an average daily rate (ADR) of $227 (-36.2%). Maui County hotels were 14.2 percent occupied with an ADR of $226.

For the entire state, the total monthly supply of statewide vacation rentals was 373,600 unit nights (-57.0%) and monthly demand was 85,000 unit nights (-86.4%), resulting in an average monthly unit occupancy of 22.7 percent (-49.1 percentage points). Hawaiʻi’s hotels had an average occupancy rate of 19.7 percent.

It is important to note that unlike hotels, condominium hotels, timeshare resorts and vacation rental units are not necessarily available year-round or each day of the month and often accommodate a larger number of guests than traditional hotel rooms. The unit average daily rate (ADR) for vacation rental units statewide in October was $208, which was higher than the ADR for hotels ($174), according to the report.

The state’s pre-travel testing program started on Oct. 15, allowing passengers arriving from out-of-state and traveling inter-county to bypass the mandatory 14-day self-quarantine with a valid negative COVID-19 test result from a trusted partner. All other transpacific travelers continued to be subject to the 14-day self-quarantine. The counties of Kauaʻi, Hawaiʻi, Maui and Kalawao (Molokai) also had a partial quarantine in place in October.

For Maui County, travelers awaiting their pre-travel test results were allowed to stay at a vacation rental as their place of quarantine. On Hawaiʻi Island and Kauaʻi, legal short-term rentals were allowed to operate as long as they were not being used as a quarantine location.

On Oahu, short-term rentals (rented for less than 30 days) were not allowed to operate at the beginning of October. However, when Oahu moved to Tier 2 of its Reopening Plan on Oct. 22, legal short-term rentals were allowed to reopen.

Other Island Highlights:

Oahu vacation rental supply was 96,500 available unit nights (-59.4%) in October. Unit demand was 26,300 unit nights (-84.6%), resulting in 27.2 percent occupancy (-44.3 percentage points) and an ADR of $173 (-32.7%). Oahu hotels were 22 percent occupied with an ADR of $158.

The Big Island vacation rental supply was 80,000 available unit nights (-61.7%) in October. Unit demand was 17,416 unit nights (-86.7%), resulting in 21.8 percent occupancy (-40.8 percentage points) with an ADR of $192 (-26.3%). Big Island hotels were 19.8 percent occupied with an ADR of $140.

Kauaʻi had the fewest number of available unit nights in October at 58,500 (-52.5%). Unit demand was 12,300 unit nights (-86.1%), resulting in 21.0 percent occupancy (-50.6 percentage points) with an ADR of $261 (-34.2%). Kauaʻi hotels were 21.3 percent occupied with an ADR of $212.

The entire report is available by clicking here.

Tables of vacation

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Independent Hotels Band Together to Keep Giants at Bay

(Bloomberg) — A group of independent hotel owners is forming a “rebel alliance” to survive the pandemic and prevent their properties from getting swallowed up by the likes of Marriott International Inc. and Hilton Worldwide Holdings Inc.

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The group, led by Pebblebrook Hotel Trust, is launching Curator Hotel & Resort Collection, a new company that aims to reduce costs on everything from bed linens to credit card processing. The move comes during the worst year in the history of the modern lodging industry, as spiking Covid-19 cases threaten to squash a modest travel rebound.

“We’re trying to give owners and operators of independent lifestyle properties an alternative to selling out their businesses or becoming more commoditized by joining with a major brand,” Pebblebrook Chief Executive Officer Jon Bortz said in an interview. “We want to do it in a way that gives them all the flexibility to be the rebels they want to be.”

Companies like Marriott, Hilton and Hyatt Hotels Corp. own very little real estate, and they make much of their profits by licensing brands and providing services to property investors, who agree to comply with certain standards as part of the deal. In downturns, they focus on recruiting owners of existing hotels — dangling so-called soft brands that let owners join the larger network without going through a wholesale makeover.

“Conversions as a percentage of our openings were highest coming out of the Great Recession,” Marriott CEO Arne Sorenson said on a recent earnings call. “We would expect conversion activity to increase, certainly in terms of discussion, starting now.”

Occupancies Hammered

This year through September, occupancy at U.S. hotels was below 45% on average, down from 68% during the same period of 2019, according to lodging-data firm STR. The pandemic has landed hard on urban hotels, which depend on a combination of business travel and leisure guests who come to sample local restaurants and cultural institutions.

Pebblebrook, whose 53 properties include the Viceroy Santa Monica Hotel and the Paradise Point Resort in San Diego, has seen its shares plummet 33% since the beginning of the year, in line with a Bloomberg index of real estate investment trusts that own hotels. While lodging stocks have rallied on recent vaccine news, industry projections estimate that a full recovery is at least three years off.

Bortz said his company began developing the plan after outbidding Blackstone Group Inc. to acquire LaSalle Hotel Properties in 2018. The $5.2 billion deal made Pebblebrook the largest U.S. owner of independent lifestyle hotels, giving it scale to negotiate savings with a variety of vendors.

Curator will aim to provide similar savings to other hotel owners, charging fees that are roughly 15% of what big brand companies demand, and offering short-term contracts that give owners freedom to exit the program after 12 months.

Pebblebrook is the majority owner of Curator. Other founding members have minority stakes, including Benchmark Hotels & Resorts, Viceroy Hotels & Resorts and Provenance Hotels, the lodging company founded by

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Hotels are being left in a ‘stomach churning’ state, Which? investigations reveals

Popular hotels including those in the Britannia chain are being left in a filthy state with blood, faeces and hair left in rooms, an undercover investigation has found.

In many cases, hotels with dirty bedrooms were carrying VisitEngland’s ‘We’re Good to Go’ logo, which is supposed to certify that premises are Covid-secure. 

Inspectors from Which? visited the UK’s best and worst-rated hotels chains to find out how regularly rooms are being cleaned between guests amid the pandemic.

Using germ simulation powder and swab tests, they detected ‘stomach-churningly’ poor hygiene at Britannia’s Folkestone and Brighton properties. 

Traces of bacteria found in faeces were even found on the toilet seat and bathroom door handle at the Royal Albion Hotel in Brighton. 

The Which? team also discovered ‘inadequate cleaning’ at the luxury Sofitel London St James, a five-star hotel in the heart of the capital, pointing to low levels of enterococci – the bacteria found in faeces – on a toilet seat.

Rory Boland, editor of Which? Travel magazine, told MailOnline that poor standards of cleanliness were ‘unacceptable during normal times, but during a global pandemic it could be downright dangerous’. 

Britannia, which has been polled as the country’s worst hotel chain by Which? readers for eight years in a row, said it ‘accepts there is more to do’, while the Sofitel London St James said it was ‘surprised and disappointed’ by the results.

The researchers said a 'decent cleaning fluid' should have removed all traces of the powder and fluid, but it was still found on the TV remote, door handle, plug socket, kettle, coffee mugs, taps, soap dispenser, toilet brush and flushing mechanism

The researchers said a ‘decent cleaning fluid’ should have removed all traces of the powder and fluid, but it was still found on the TV remote, door handle, plug socket, kettle, coffee mugs, taps, soap dispenser, toilet brush and flushing mechanism

Popular hotels including those in the Britannia chain are being left in a filthy state with blood, faeces and hair left in rooms, an undercover investigation has found

In the bathroom, the bathroom taps, soap dispenser, toilet brush and flush also turned red. Fortunately, towels and bedsheets had been changed

Popular hotels including those in the Britannia chain are being left in a filthy state with blood, faeces and hair left in rooms, an undercover investigation has found

The team booked the same room at the Grand Burstin hotel in Folkestone for two nights in a row, spraying towels and bedsheets with hazmat UV fluid before checkout to discover how thoroughly rooms were cleaned between guests

Traces of bacteria found in faeces were even found on the toilet seat and bathroom door handle at the Royal Albion Hotel in Brighton

Traces of bacteria found in faeces were even found on the toilet seat and bathroom door handle at the Royal Albion Hotel in Brighton

The team also discovered 'inadequate cleaning' at the luxury Sofitel London St James, a five-star hotel, pointing to low levels of enterococci - the bacteria found in faeces - on a toilet seat

The team also discovered ‘inadequate cleaning’ at the luxury Sofitel London St James, a five-star hotel, pointing to low levels of enterococci – the bacteria found in faeces – on a toilet seat

The team booked the same room at the Grand Burstin hotel in Folkestone for two nights in a row, spraying towels and bedsheets with hazmat UV fluid before checkout to discover how thoroughly rooms were cleaned between guests. 

When inspectors checked back in, many items lit up under our UV light – including a TV remote control, door handle, plug socket, kettle and coffee mugs.

In the bathroom, the bathroom taps, soap dispenser, toilet brush and flush also turned red. Fortunately, towels and bedsheets had been changed.

The researchers said a ‘decent cleaning fluid’ should have removed all traces of the powder and fluid, but

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Wentworth hotel’s annual Illumination and Toy Drive to be held Dec. 1

Portsmouth Herald

NEW CASTLE — The Wentworth by the Sea hotel’s annual Illumination and Toy Drive will look a little different this year, but will still be held Dec. 1, beginning at 6 p.m.

Due to current COVID-19 restrictions, the annual event will be limited to hotel and restaurant guests only, so proper safety and distancing protocols can be met. Despite these necessary changes, Wentworth by the Sea is planning a fun and joyous event for overnight and dining guests of the hotel.

Reservations are sure to fill up quickly so those wishing to attend should book as soon as possible. For overnight guests, the Wentworth has two packages for maximum enjoyment of the festivities:

• The Overnight Family Package includes overnight accommodations on Dec. 1, hot cocoa and cookies upon arrival, and access to the Illumination event. Rates start at $279.

• Date Night Holiday Light Package includes overnight accommodations on Dec. 1, a boozy hot cocoa/coffee and cookies upon arrival, dinner for two at Salt, and access to the Illumination event. Reservations for dining should be made directly with Salt. Rates start at $399.

For reservations, visit https://bit.ly/35wdbBT.

For those wishing only to dine at Salt before or after the Illumination, a reservation is required. Anyone with a dining reservation will be able to stay and see the Illumination. To reserve, call (603) 373-6566.

This special, traditional event at the Wentworth will also include an appearance by Santa in his sleigh, with elves to take Christmas lists from children. There also will be live music and carolers for the enjoyment of guests.

Another favorite tradition of the resort will also continue – the unveiling of the Gingerbread House. This annual creation is always a favorite with hotel guests and locals who look forward to marveling at the over-sized, magical gingerbread house made by the talented chefs of Wentworth by the Sea.

The Wentworth by the Sea will be conducting its annual Toy Drive once again this year. Toy drop off will be Dec. 1-17. Toys can be dropped off only Monday through Thursday, 11:30 a.m. to 4 p.m. Anyone bringing an unwrapped, unopened gift to help support children of the Seacoast will receive 10% off at Salt; alcohol excluded.

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Pivot Hotels & Resorts To Launch The Kimpton Harper Hotel In Fort Worth, Texas

ATLANTA, Nov. 12, 2020 /PRNewswire/ — Leading hospitality management company Davidson Hotels & Resorts has been tapped by Development Services Group (DSG, Inc.) to manage the Kimpton Harper Hotel, a new hotel slated for opening in spring 2021. Located in the heart of downtown Fort Worth, Texas, in close proximity to the Fort Worth Convention Center and Sundance Square, the 226-room Kimpton Harper is operated by Davidson’s lifestyle and luxury division, Pivot Hotels & Resorts, and housed within the historic Farmers and Mechanics National Bank landmark building, soaring 24 stories into the skyline. Upon completion, the centrally located hotel will feature Refinery 714, a penthouse bar and lounge with sweeping views of the plains; Il Modo, a vibrant, bustling restaurant and bar serving Italian fare with a modern sensibility; 10,000 square feet of meeting and event space; a rooftop observation deck with a 360-degree view of Fort Worth; and Kimpton’s signature amenities that include evening social hour, morning coffee service and complimentary PUBLIC bicycles.

“We are excited to launch this vibrant new hotel in collaboration with our esteemed partners at DSG, Inc.,” said Thom Geshay, president, Davidson Hotels & Resorts. “Leveraging the Pivot team’s ability to be agile and nimble to adapt to modern business needs, we understand that great service and profitability go hand-in-hand, and we look forward to developing unique and creative programming that will truly differentiate the Kimpton Harper.”

“Building upon our foundational relationship, we were compelled to engage Pivot for this highly anticipated opening based on the team’s extensive lifestyle pedigree through and through,” said Gary Prosterman, president and CEO of DSG, Inc. “Pivot understands how to serve guests who desire a personalized social travel experience. We know that under the team’s leadership and guidance, the Kimpton Harper will seamlessly encapsulate the dynamic, laid-back sophistication of Fort Worth in a meaningful way.”

Fort Worth’s history was shaped by cattle and oil, growing from a military garrison to a major trading post along the Chisholm trail to a booming oil town. Built in 1921, The Farmers and Mechanics National Bank building most recently served as the headquarters for XTO Energy. DSG acquired the iconic historic building in November 2018 with a plan to complete an adaptive reuse of the office building into the Kimpton Harper, which stands as a shining example of the evolving city of Fort Worth. Once standing as the tallest building in Fort Worth for several decades, its design is a hallmark example of the Commercial or Chicago style of architecture that was popular during this boom era, symbolizing commerce, optimism and prosperity. Updated seamlessly for the 21st century, the renovation blends modern elements with the existing architecture, infusing the urban icon with laid-back soul through luxury materials and subtle details.

For more information, please visit www.theharperfortworth.com.

About Pivot Hotels & Resorts

Pivot Hotels & Resorts is the lifestyle and luxury operating division of award-winning hospitality management company Davidson Hotels & Resorts. With a deep-rooted passion

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Extended Stay Hotel Market to Eyewitness Massive Growth by 2026 | Hilton Worldwide, Hyatt Hotel, Choice Hotels International

The MarketWatch News Department was not involved in the creation of this content.

Nov 10, 2020 (Heraldkeepers) —
Latest added Global Extended Stay Hotel Market research study by HTF MI offers detailed product outlook and elaborates market review till 2025. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Hilton Worldwide, Hyatt Hotel, Choice Hotels International, InterContinental Hotels Group (IHG), Marriott International & Wyndham Hotel Group etc. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.

Request Sample of Global Extended Stay Hotel Market Size, Status and Forecast 2019-2025

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Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on ” Extended Stay Hotel Market by Type (, Economic Type Extended Stay Hotel, Middle Type Extended Stay Hotel & Luxury Type Extended Stay Hotel), by End-Users/Application (Travelers, Business Customers, Trainers and Trainees, Government and Army Staff & Others) and Region – Forecast to 2025″. Early buyers will get 10% customization on study.

to Avail deep insights of Global Extended Stay Hotel Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2017-2019), Segment Revenue Market Share (%) by Players (2017-2019) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.

Enquire for customization in Report @ https://www.htfmarketreport.com/enquiry-before-buy/1896594-global-extended-stay-hotel-market

Competitive Analysis:
The major players are focusing highly on innovation in technologies to improving efficiency level. The industry growth outlook is captured by ensuring ongoing process improvements of players and optimal strategies taken up by companies to fight COVID-19 Situation. Company profile section of players such as Hilton Worldwide, Hyatt Hotel, Choice Hotels International, InterContinental Hotels Group (IHG), Marriott International & Wyndham Hotel Group includes its relevant information like name, subsidiaries, website, headquarters, market rank, gain/drop in market position, historical background or growth commentary and top 3 closest competitors by Market capitalization / revenue along with contact information. Each company’s revenue figures, Y-o-Y growth rate and gross & operating margin is provided in easy to understand tabular format for past 5 years and a separate section on recent development like mergers & acquisition, patent approval and new launch etc.

Market Segments: The Global Extended Stay Hotel Market has been divided into type, application, and region.

On The Basis Of Type: , Economic Type Extended Stay Hotel, Middle Type Extended Stay Hotel & Luxury Type Extended Stay Hotel.
On The Basis Of Application: Travelers, Business Customers, Trainers and Trainees, Government and Army Staff & Others

On The basis of region, the Extended Stay Hotel is segmented into countries, with production, consumption,

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No need to travel far to get a vacation feeling at Penticton hotels – Penticton News

“Four seasons of fun” is new a collaboration between Castanet and Travel Penticton showcasing what Penticton has to offer all year round. Watch for it every Monday morning.

There’s no place like home, and Penticton hotels and resorts are offering up a steal of a deal for those looking to enjoy a getaway without going too far.

Penticton Lakeside Resort is offering up a variety of deals for locals, including the Okanagan Winter Getaway and the Thompson Okanagan Staycation.

“We know that sometimes right now with the heaviness of (COVID-19) with mental health, we wanted to be able to extend a discounted rate to locals,” said Brannigan Mosses, the Penticton Lakeside Resort’s Director of Regional Sales and Marketing.

With a minimum five-night stay, the Okanagan Winter Getaway offers a west wing, lake view room with complimentary buffet breakfast for $99 a night, and the chance to win a five-night Summer Getaway package for next year.

The Thompson Okanagan Staycation, which Mosses said has been one of the Lakeside’s most popular packages, offers 20 per cent off to locals who provide ID upon arrival at the resort.

“Take a ride down, a 45 minute drive from Kelowna or wherever you may be, and just do something a little different and experience your surrounding cities and surrounding activities,” encouraged Mosses.

And the Penticton Lakeside Resort isn’t the only hotel extending deals to locals alike; the Penticton Ramada is also opening its doors to guests who are looking for a mini getaway.

“It’s like a resort feel at our hotel,” said Ramada executive assistant Lindsey Danyluk. “You have robes in the room, you can order room service. It’s just like a little night away.”

The Ramada’s Sip and Stay package, which includes a two-night stay in a standard room with two tall cans of this year’s The Penticton Seven’s beer, a $50 gift certificate to Bad Tattoo Brewing or the The Station Public House and 25 bonus points on the B.C. Ale Trail App, has been a popular choice amongst locals for birthdays and anniversaries, said Danyluk .

The resort is also offering 20% Apex ski lift tickets to guests.

And Hotel Penticton, Ascend Hotel Collection, is gearing up for a busy winter welcome guests, with a staycation package in the works that will include bundles with local businesses.

“We’re working with all different organizations and businesses in town,” said Billy Coles, the owner and president of BCP construction. “You think of ski hills, wineries … all the different organizations, so we can give away rooms possibly with them. That’s going to be an ongoing staycation-type thing we’re going to be doing.”

All room bookings will receive a room upgrade, too, said Coles.

And for those looking to adventure a little further, Choice Hotels Canada, which operates Hotel Penticton, will be extending its staycation package to its other five resorts in the west, including Alberta and Saskatchewan.

Choice Hotels will

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