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The acquisition of the hotel portfolio is in line with Accor’s ambitious development strategy launched last September, which includes Accor’s ability to reinforce its leadership in emerging markets, the company said in the release. This follows the Mirvac acquisition in Australia and New Zealand, which closed on 22 May.
The transaction includes 15 hotels, of which four are fully-owned, four are variable leased hotels and seven are under management contracts. The hotels are in São Paulo, Rio de Janeiro, Buenos Aires, Argentina, and Santiago, Chile. The acquisition “will reinforce the brands operated in the region: Sofitel, Pullman, Novotel and Mercure,” the release said.
“With its strong financial position and now a structurally generating cash model, the Accor Group, through this acquisition, records another success and confirms its ambitious expansion plan,” said Accor’s CEO Denis Hennequin in the release. “Accor strives towards its ambitions, with expansion of its network, revitalization of the brand portfolio, optimization of the asset management policy and recognized operational excellence. This operation is in line with our strategic goal: become the global reference in the hotel industry.”
The hotel industry outlook for the top 25 North America markets is showing an increase of 6.3% in committed occupancy for the future 12 months (June 2012 to May 2013), based on group commitments and individual reservations on the books compared to the same time last year, according to the most recent TravelClick Perspective. This positive demand outlook is shared by both the group segment, which is up 5.7%, and the transient segment, which is up 7.4%. Average daily rate for the same period is up 6.5% (group 4.8% and transient 7.5%) compared to a year ago.
For the third quarter of 2012, overall committed occupancy is up 6.8% year over year for the top 25 markets, according to TravelClick. Committed occupancy for the group segment is up 5.6% and the transient segment is up 9.9% compared to a year ago. For the second quarter, ADR is 7% ahead compared to the same time last year. Group segment ADR is up 6%, and the transient segment ADR is up 7.5% compared to a year ago.
from Jones Lang LaSalle.
Approximately 4,500 guestrooms are expected to open in Dubai in 2012, including a JW Marriott Marquis, Al Khor Rayhaan, Fairmont The Palm and Conrad Sheikh Zayed Road, according to the report.
Signs of improved investor confidence have flowed into Dubai’s real-estate sector, with continued demand for quality, well-located, income-producing assets. Hotel occupancy levels improved to 83% from 79% in the same period last year. The growth has been mainly supported by a strong tourism sector and a very encouraging number of visitors. The recovery of Dubai hotels has been reflected by an increase in both ADR and revenue per available room.
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The new properties will be opening at Egypt, Kazakhstan, Azerbaijan and the United Arab Emirates as well as a hotel in Turkey this year, rounding out the company’s current presence in Turkey, the Middle East/North Africa, and Commonwealth of Independent States and Europe. The openings will bring the number of Rixos hotels to 21.
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Total visitor volume for May was up 2.4% from the same month in 2011, according to the monthly Las Vegas Convention and Visitors Authority count. April's decline of 0.9% broke the more than two-year streak of consecutive month-to-month gains.
May's citywide hotel and motel occupancy combined increased a modest 0.5%, and year to date it increased only 0.2%. When looking at just hotels, occupancy rose year to date by 0.8%, while motel occupancy's year-to-date count dropped 4.2%.
Compiled by Jason Q. Freed.