Hilton Worldwide Holdings filed a registration statement Wednesday with the United States Securities and Exchange Commission for an initial public offering. The offering has an initial value of $1.25 billion, which the filing explains is “estimated solely for the purpose of determining the amount of the (SEC) registration fee.”
According to the filing, after completion of the offering, The Blackstone Group L.P. will continue to own a majority of the new company’s voting power.
Spokespeople for both Hilton and Blackstone declined to comment on the filing, citing regulatory issues.
Hotel News Now will continue to update this story as it develops.
Wyndham Hotel Group is shaking the rust off three of its brands, thanks in no small part to a revival in hotel operating performance, writes Hotel News Now’s Shawn A. Turner from the company’s 2013 global conference.
Refreshes are in store for both the Microtel Inn & Suites by Wyndham and Travelodge brands. Executives also said the company is continuing to push forward on the reimagining of its Howard Johnson brand that was previously announced a year ago.
Included in the changes made for each of the brands:
- Microtel: new color schemes for guestrooms; furniture package; redesigned bathroom; new wet bar design in suites; open lobby with additional seating and new front desk design; flex room for meetings or additional breakfast seating; and a micro mart option featuring snacks, light meals, soft drinks and sundries.
- Travelodge: a warm color scheme; sandstone flooring; and an outdoorsy feel to the hotel.
- Howard Johnson: a fresh, clean look for each of the properties and an orange and white color scheme. Brand executives also are considering bringing back ice cream as a signature offering at their properties.
The average price of a hotel room around the world rose 2% during the first six months of 2013 compared with the same period the previous year, according to the latest Hotels.com Hotel Price Index. The rise, although relatively small, maintained a trend of slowly increasing rates seen since the start of 2010, with average prices now close to their 2006 levels, before the global financial crisis began.
Set at 100 in 2004, the HPI tracks real prices that hotel guests paid for their accommodations around the world. The index for the first six months of 2013 stands at 111, eight points lower than its peak in the same period of 2007.
Latin America registered its strongest result in more than two years with a 7% increase in hotel prices.
European hotel prices have increased by an average of 13% month on month and 5% year on year, according to the September Trivago Hotel Price Index.
Based on the 50 most popular European destinations on Trivago, one night this September will cost an average of £110 ($173.92), in comparison to £98 ($154.95) in August and £105 ($166.02) in September 2012. Significant price increases can be found for Oktoberfest in Munich and for Fashion Week in London, Milan and Paris.
Hotel prices in Munich increased 69% this month for Oktoberfest, which is the world’s largest fair and attracts more than 6 million visitors from around the world.
Hotel prices also increased in the fashion capitals of London, Milan and Paris, which will each host their own Fashion Week this month.
CCRA Travel Solutions announced the top five domestic and international fall vacation destinations based on travel agent hotel bookings made via the CCRAtravel.com hotel reservations portal.
Three new cities appeared on CCRA’s "Top 5 U.S. Cities" list. The following cities have received the highest number of hotel bookings from travel agents for fall arrivals during September through November:
Top 5 domestic
1. Anaheim, California (new)
2. Atlanta (new)
3. Honolulu (new)
4. Las Vegas
5. Miami
Top 5 international
1. Amsterdam
2. Barcelona, Spain
3. Cancun, Mexico (new)
4. Florence, Italy
5. London
Compiled by Jason Q. Freed.