Nobu Hospitality in Thailand; Sentral, Partner of the OliverBuchanan Group – HOTELSMag.com

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Nobu Hospitality in Thailand: Nobu Hospitality, Miami Beach, Florida, and Asset World Corp Public Co. Ltd., based in Bangkok, Thailand, announced a development agreement to develop several Nobu hotels and restaurants across Thailand and the start of two projects in Bangkok . Nobu Restaurant will occupy the rooftop and top floor of Empire Tower, Bangkok’s mixed-use development, and will offer panoramic views of the city and Chao Phraya River. The location of the signed Nobu hotel in Bangkok will be announced soon, with the two partners planning a new program and experience.

Denver Union Sentral Station Rendering

Sentral, partner of OliverBuchananGroup: Sentral and OliverBuchananGroup, both based in Denver, Colorado, announced a partnership to develop new multi-family urban communities and mixed-use projects in high-growth markets across the United States. Sentral will serve as the exclusive property management group for residential properties and the partnership will initially focus on projects in San Diego, Denver, Dallas, Phoenix, Nashville and Austin. Sentral’s first collaboration with OliverBuchananGroup is in Denver’s River North District. The partners have engaged local and global design firms to plan a community that will include more than 300 residence units, as well as retail, event and office space. Construction will begin in 2023.

Pebblebrook completes the sale of the Spero Hotel: Pebblebrook Hotel Trust, Bethesda, Maryland, has completed the sale of the 236-key Spero Hotel in San Francisco, California, for US$71 million to a third party. Proceeds from the sale of the hotel will be used for general corporate purposes and will help reduce corporate borrowings associated with recent hotel purchases, consistent with the company’s investment strategy. For the last 12 months ended June 30, 2022, the hotel’s net operating loss was US$1.6 million and the hotel’s EBITDA was US$1.4 million. Based on the hotel’s operating performance for 2019, the sale price reflects an EBITDA multiple of 9.1x and a net operating income capitalization rate of 9.8%. The net operating profit (loss) for the two periods mentioned above is after an assumed annual capital reserve of 4% of the hotel’s total revenue. Pebblebrook has 52 properties totaling 12,900 rooms in 15 city and resort markets across the United States

Hotel Equities launches a lifestyle division: Hotel Equities, Alpharetta, Georgia, has launched a new lifestyle division through its strategic partnership with Greenwood Hospitality, based in Greenwood Village, Colorado. The new division now includes more than 30 assets, including hotels like The Farnam in Omaha, Nebraska, and The Henry in Dearborn, Michigan, both Autograph Collection by Marriott hotels; as well as the Tulsa Club, a Curio Collection by Hilton, located in Tulsa, Oklahoma. Bill Kohl, director of Greenwood Hospitality, will lead a company-wide dining team, while vice president of operations Peter Tziahanas will join the lifestyle team. Tom Conran, also director of Greenwood Hospitality, will further develop the new lifestyle unit in the United States and Canada. All disciplines will be supported by Hotel Equities President of Hotel Operations, Albert Smith.

Key Australian Market Outlook: The reopening of Australia’s international borders earlier this year helped international migration start its recovery path data from March 2022, suggesting a slow near-term recovery with forecasts to return to 2019 levels around June 2024, according to a Horwath HTL report on Australia’s capital and its main markets. Given long pre-departure standards and high travel costs, the tourism sector is likely to need a longer period of certainty before more people feel comfortable taking longer and safer trips. more expensive. The outlook for Australian businesses is expected to improve in 2022-23, with the unemployment rate expected to moderate to an average of 3.8%. The overall long-term outlook is similar to that of the March 2022 edition of the economic outlook. Overall, with the removal of vaccine requirements and travel exemptions for international travelers, it will be easier for newcomers to enter Australia. The latest domestic tourism forecast predicted that domestic tourism is expected to return to pre-pandemic levels in 2022-23 and surpass the previous peak in 2023-24. Domestic tourism in Victoria is expected to take longer than in other states to return to pre-COVID volumes, reflecting extended closures over the past two years. New South Wales and the other territories are also on a slightly slower short-term trajectory due to recent lockdowns.

Cygnett Hotels signs the first resort: Cygnett Hotels & Resorts, Gurgaon, India, has announced its first resort in Bharatpur, Rajasthan, with an expected opening in October. Cygnett has signed a strategic partnership with Bansal Automobiles Pvt. Ltd., which is the developer and owner of the complex. The 64-key Cygnett Resort Bharatpur spans five acres and includes 10,000 square feet of outdoor event space, 20,000 square feet of indoor meeting and event space, gym, spa, a swimming pool and a restaurant.

Positive trend study for the travel sector: Despite challenges, such as rising inflation, soaring fuel prices, and ongoing operational and personnel crises affecting the travel and hospitality industry, there have been positive trends for the travel industry, including an increase in long-haul travel, lower cancellation rates and higher hotel ADRs. , showed the latest data and research from Expedia Group. Showing strong demand growth, resulting in the highest accommodation bookings in Expedia Group history, the second quarter maintained the momentum of the first quarter as total gross bookings increased double digits year-on-year in the second quarter. The second quarter also showed a 40% increase in overnight stays and a 9% increase in ADRs quarter over quarter. Demand for long-haul flights jumped 50% year-on-year, with a more than 100% year-on-year increase in passenger demand in the second quarter for flights from the United States to Europe. London, Paris and Rome were the top three European destinations for American travellers. The second quarter saw higher growth in short-term and medium-term planning, with the 0-90 day research window up more than 5% quarter over quarter and the 61-90 window days with the strongest growth at 15%. Travelers are paying attention to inclusive travel providers and are looking for accessibility and diversity in their travel options. About 92% of consumers think it’s important for travel providers to meet the accessibility needs of all types of travelers. Sustainability also emerged as a key element in influencing travel decisions, with 90% of consumers looking for sustainable travel options. Around 65% of consumers said they would opt for environmentally friendly transport or accommodation on their next trip and 50% were willing to pay more for sustainable accommodation.

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