HA Daily

    Tsogo takes a hit

    South Africa’s Tsogo Sun Hotels saw annual core earnings fall 9% as coronavirus hit. The group will not declare a final dividend as it preserves cash, reports Reuters. The company saw demand start to fall at the end of February, while earlier in the year, soft economic conditions weakened performance. Tsogo’s Southern Sun and Garden [...]

    Safestay fit for return

    Hostel operator Safestay is planning a phased reopening of its properties, marketed initially to domestic travellers. Individual properties will launch when the group expects them to operate profitably. The group revealed full year 2019 revenues up 26% to GBP18.4m. In a transformational year, it added seven properties, finishing the period with 20 hostels and 4,900 [...]

    Travelodge rival?

    Travelodge landlord Oasis Holding has secured more than GBP100m in backing for a new hotel brand to rival Travelodge. Oasis has built a group representing landlords of 390 Travelodge properties, reports Property Week. Oasis has also proposed a range of alternative lease or management agreements for landlords. Travelodge, which has been demanding rent cuts and [...]

    Refinance for Radisson

    Radisson Hospitality shareholder Aplite is injecting EUR100m to support a refinancing. The move comes as the group announced Q1 revenues down 20.1% to EUR170.6m. More than half the group’s hotels remained closed at the end of May. The company signed 3,571 rooms to its pipeline and opened 452 rooms. Read the full story here: Read more

Asian stats show upturn

Chinese hotels are seeing a measurable rebound in business, reports Hotstats, with occupancy up 10% March to April. Data suggests other global pockets are a month out from a comparable upswing. Across wider Asia Pacific, goppar is now inching towards profitability, measuring -USD2.57 in April. While down 106.2% year on year, the figure is up [...]

More cuts at Marriott

Marriott is to extend US staff furloughs and duty reductions until October 2. The group is also rolling out a voluntary transition programme in the US, supporting staff who wish to leave. The group has warned it may reduce above-property headcount further. It has warned there may be no return to prior levels of business  [...]

Colony hotel exit?

Colony Capital has hired advisors to consider options for its hotel sector investments. Moelis & Co will review holdings, as the group looks towards more digitally-oriented investments, reports Bloomberg. Colony holds select-service, extended stay and full-service hotels in seven portfolios. It has large holdings operating under Marriott and Hilton flags across the US. Read the [...]

Safe Travels stamp launched

The World Travel & Tourism Council has launched a global hygiene and safety stamp. The seal of approval will recognise governments and organisations that have adopted recognised safety protocols, named Safe Travel. Authorities in Saudi Arabia, Barcelona, Portugal, Cancun and Seville have adopted the protocols at launch, while more than 200 tourism and hospitality CEOs [...]

Cheval adds Edinburgh

Serviced apartment operator Cheval Collection has signed two properties in Edinburgh. The Edinburgh Grand and Old Town Chambers will convert to Cheval, adding 100 units to the group’s portfolio. The agreement with owner and developer Chris Stewart Group will see the properties benefit from Cheval’s marketing platform. For Cheval, the move is part of a [...]

Aussie comeback

Hotel bookings in Australia are approaching a third of levels from a year ago. Canberra and Perth markets are leading the country’s recovery, reports AFR. According to quoted Colliers research, Australia and New Zealand markets are leading the global recovery in hotel bookings. Accor’s regional team has already reported a strong rise in booking volumes [...]