Starwood Capital acquires a Central London hotel portfolio, Sydney hotels posted record-high room rates and more...

Starwood Capital acquires a Central London hotel portfolio
Thursday, 18th January 2024

Starwood Capital Group has acquired a portfolio of 10 hotels from Edwardian Group for an undisclosed sum via an off-market transaction. The portfolio comprises of 2,053 rooms. Edwardian Group will continue to own and operate The Londoner and its two Radisson Collection hotels, The May Fair and The Edwardian Manchester, following closing of the transaction.

Alongside the acquisition, Starwood Capital and Edwardian Group intend to collaborate on future opportunities together >>

Sydney hotels posted record-high room rates in December, London performance jumped during holiday season
18 Jan 2024 : Helped by New Year’s Eve, Sydney’s hotel industry recorded its highest monthly average daily rate (ADR) on record >>

Hyatt announces plans for first Hyatt Centric Hotel in Nepal
18 Jan 2024 : Hyatt Place Kathmandu to be fully transformed into a 153-room Hyatt Centric hotel centrally located in the lively city of Kathmandu >>

More economic uncertainty on the horizon
18 Jan 2024 : More than half (56%) of chief economists expect the global economy to weaken in 2024, with seven in 10 saying pace of geoeconomic fragmentation will accelerate, according to the latest Chief Economists Outlook >>

HIGHLIGHT ARTICLE

The Holy Grail of the Hospitality Industry: The Commercial Strategy Platform
Thursday, 18th January 2024

The hotel industry is, once again, in a state of flux; the COVID pandemic forever changed how hotels operate. But we are currently in a second evolutionary phase, in which the convergence of technology and strong commercial leadership, is proving to be an operational imperative for hotels to ensure profitability over the long-term >>

AI Will Transform the Global Economy. Let’s Make Sure It Benefits Humanity
We are on the brink of a technological revolution that could jumpstart productivity, boost global growth and raise incomes around the world and yet it could also replace jobs and deepen inequality >>

In case you've missed it: Global eNews of January 17, 2024
Air travel reaches 99% of 2019 levels, digital hotel operations study and more >>