Editor's Note: Some linked articles may be behind subscription paywalls.
1. HEI Hotels names Clark Hanrattie as CEO
HEI Hotels & Resorts has promoted Clark Hanrattie, partner at the hospitality investment and management company, to CEO and managing partner, according to a news release. He will step into the role July 1, succeeding Anthony Rutledge, who has held this role since 2012 and will remain a significant owner of HEI.
Hanrattie joined HEI in 2004 and has since helped drive the company's growth from 35 to more than 100 hotels.
“Hiring, retaining and developing the very best people in our industry continues to be a major contributor to our owner/operator business model and the outsized returns to our ownership and branding partners,” Hanrattie said in the release.
2. Dalata CEO to step down
As Dalata Hotel Group moves forward with its integration with Scandic Hotels Group, Dalata announced its CEO, Dermot Crowley, and deputy CEO, Shane Casserly, will step down later this year, reports CoStar News Hotels' Terence Baker.
Five months ago, Scandinavian duo Pandox AB and Eiendomsspar AS completed their acquisition of Dalata for €1.4 billion ($1.65 billion). Through this deal, the Irish hotel firm's portfolio will fall under Scandic Hotels' management.
“I am incredibly proud of what we have achieved together as a team. … Over the last five years, we have added 16 hotels (3,800 rooms) across Ireland, the U.K. and Europe,” Crowley said in a statement. “The business is in a very strong place. … We are on target to open three new hotels in Dublin, Edinburgh and Berlin this year with a further four hotels in the pipeline in London, Edinburgh and Madrid.”
3. The evolution of the branded-residential space
In a podcast interview, Big Key Group's Nate Siehr spoke with CoStar News Hotels' Natalie Harms about the changing branded-residential segment and how his company's newest project, the Ambar Residences Orlando, fits into what owners and travelers want now.
"It's not a hotel room stretched into a longer-stay concept. It is a true residential format designed for the way people actually travel today," Siehr said.
4. TUI cuts outlook over Iran war disruption
German tour operator TUI reduced its outlook for earnings before interest and taxes for the fiscal year due to uncertainty and disruption caused by the war in Iran, the Wall Street Journal reports. The company's new outlook falls between €1.1 billion and €1.4 billion, down from an expected rise of 7% to 10% over €1.41 billion for its year ending Sept. 30, 2025.
TUI said the ongoing war is limiting near-term visibility, causing consumers to be more cautious. As a result, they are booking their trips closer to their departure dates and moving their trips to Western Mediterranean destinations from Eastern ones.
In related news, German airline Lufthansa Group said it would cut 20,000 flights over the next six months in an attempt to save on jet fuel costs, the New York Times reports. The move is expected to save on 40,000 metric tons of jet fuel through the end of October.
5. UK inflation rose to 3.3% in March
Inflation in the United Kingdom increased to 3.3% in March due in large part to higher fuel prices caused by the war in Iran, CNBC reports, citing preliminary data from the Office for National Statistics.
“The only significant offset came from clothing costs, where prices rose by less than this time last year. The monthly cost of both raw materials for businesses and goods leaving factories rose substantially, driven by higher crude oil and petrol prices,” Grant Fitzner, chief economist at the ONS, said in a statement posted on X.
“Hospitality businesses are highly exposed to increased fuel prices, through the price of food, drink, transport and other key inputs,” Kate Nicholls, chair of UKHospitality, said in a statement. “As one of the final links in the food supply chain, the sector cannot be expected to pick up the bill for increased costs down the chain.”