FCM Hotel Insights: April 2018
Hilton expands Canopy brand in the U.S.
Hotel giant Hilton has expanded its Canopy brand in the United States with the addition of the Canopy by Hilton Washington DC Bethesda North. This is the second in this new line of hotels from Hilton, along with the Canopy by Hilton Washington D.C. The Wharf. The Canopy brand debuted in Iceland in 2016, but only arrived in the U.S. in the last six months. Pitched as an upper-midscale offering emphasizing local flavor, with locally sourced ingredients and an informal service style, 30 Canopy hotels are currently in development.
Chicago Cubs-Themed Hotel opens near Wrigley Field
The Chicago Cubs ownership in cooperation with Marriott have opened a new Cubs-themed hotel across the street from Wrigley Field. Named after the designer of the iconic ballpark, the Hotel Zachary is part of Marriott’s International Tribute Portfolio. Boasting 173 rooms, the property incorporates iconic Cubs elements into its design, such as pinstriped carpets and green headboards, as well as an original architectural sketch of Wrigley Field on display.
HNA looks to sell Hilton stake
Chinese conglomerate HNA Tourism Group has amended its agreement with Hilton, allowing HNA to sell its shares earlier than anticipated. HNA currently owns 26.1 percent of the international hotel giant, which experts say could be worth as much as $6.5 billion. Hilton has announced its intention to buy back between 10 and 16 million of the more than 80 million shares in the offing. HNA also owns stock in Park Hotels & Resorts and Hilton Grand Vacations, two of Hilton’s spun-off divisions, which could fetch a price of up to $2.5 billion themselves.
Wyndham Continues Reorganization, Sells Knights Inn
Wyndham is selling the Knights Inn brand to Red Lion Hotels Corp to clear the way for spinning-off its parent company Wyndham Worldwide in the second quarter of 2018. This restructure will allow Wyndham to focus on the mid-scale and extended-stay sectors of the market. Acquisition of the 350-hotel economy chain with properties across North America will set Red Lion back 27 million dollars. The deal is expected to close in quarter two of 2018.
Radisson Blu Hotel, Dubai Waterfront now open
Located in Business Bay in the heart of Downtown Dubai, the 432-room Radisson Blu Hotel, Dubai Waterfront is a five-minute drive from the Dubai World Trade Centre and Dubai International Financial Centre and 15 minutes from the airport. The property features a choice of restaurants, a bar, spa, fitness center and swimming pool as well as 1,150sqm of meeting and event space catering for functions of up to 350 guests.