Hotel Analyst Podcast

Accor, IHG and Hyatt are all looking to make more strategic moves, as they eye the last benefits of post-pandemic tailwinds. Choice hotels saw market conditions weaken in the US the fourth quarter - putting its share price under pressure, as it relies on that share price to buttress its hostile bid for Wyndham. And hospitality groups have taken a new direction in seeking public listings. Gone are...

Marriott still sees tailwinds from growing group and business bookings; Wyndham worries about the impact on its business of the Choice bid, to date reckoned at a USD75m negative impact. Meanwhile in Europe, owner Pandox and operator Scandic are looking forward to a positive year of more growth across the continent. And as pub groups shift into boutique hotels, how should hotel brands react to this...

Soho House comes under attack from a short seller - but is the business fundamentally as worthless as they claim? Hilton signals a strategy switch, arguing now is the moment to consider acquisitions in a stressed market. And the alternatives in hostels bounce back, just as new format Outsite looks to grab unloved hotels.

India’s local hotel groups are enjoying a strong economy, with growing demand, in a marketplace where there’s little prospect of much more supply in the near term. Consumer travel behaviour is changing, and more are booking directly, and more in advance. But the latest resarch also has a warning for the OTAs of new competition from the East. And third party hotel managers are looking forward to gr...

The world is resetting around new demand drivers, new destinations and new flying routes after the pandemic - and there are winners as well as some losers. Consumers are tilting back towards hotels and away from short term rentals, just as the regulatory noose around them appears to be tightening. And hanging out with Best Western - a cheaper, more flexible branding alternative to the big brand gr...

It’s a positive start to the new year, as consultants expect deal volume to improve - unlocking the restricted investment market. Major travel groups, including TUI, are looking to gain greater control over the hotels they sell as part of their packages. And thinking green, we’re seeing sustainability now becoming a greater part of the funding landscape, giving borrowers discounts if they hit agre...

A big GBP800m purchase in London by Starwood Capital has brightened the investment community - could it be the moment private equity is back in the market? Plus, a portfolio of 66 Travelodge hotels trades, with the buyer being the US owner of the Travelodge operating business. And we delve into what French group Louvre is doing - a slumbering giant in the ownership of major Chinese group Jin Jiang...

Ahead of his upcoming Hoftel conferences, CEO Simon Allison provides his thoughts on deal flow into 2024, as banks start pulling the trigger. Other big issues, debated at his events, include the shifting focus of Spanish brands and owners, aligning with bigger brands and new distribution channels; and the ambitions of Middle Eastern players are a growing influence, liable to impact other regional...

Hospitality looks forward to 2024 with reducing inflation, interest rates looking as though they may have peaked - will it be a happy new year? Is Indian disruptor Oyo finding its mojo once more? And Philippine brand Hotel 101 is planning global expansion, backed by fractional ownership. And greater regulation is heading for the short term rental niche - but is it overall a good thing?

Budget hotel operators are trading strongly, but where is the value-add opportunity for investors in their property assets? Consolidation plays see those in the living space broaden their appeal to both customers, and to potential investors. And, despite tough economic conditions, the mood from recent hotel conferences was a fundamentally optimistic one.

Subscription models are a challenge for hotels, but get them right and they can be a valuable income stream that also drives loyalty too. Deloitte finds confidence in the sector improving, and its conference also looked at the likely impact of upcoming technological change. And as the sector continues to face staffing challenges, we discuss an initiative Whitbread is pushing forward.

Deal volume is starting to build, but it feels more like glacial melt, rather than all-out spring thaw. A major refinancing in the hostel space shines a positive light on that niche in the accommodation space, but it still remains at arms length to the mainstream. And Choice delivers its third quarter results - but the CEO uses the event to shout about why his offer to take over Wyndham is such a...

Marriott sees returning business and group demand as an enduring tailwind, as it expands into midscale. The US Reits, Host and Park, as well as Hyatt are also enjoying a return of big corporate events. Third quarter results from the OTAs show they’re all pushing hard into more alternative accommodation, with Booking and Expedia turning up the heat under Airbnb. And then there’s the hype of AI….

Growing fast - Hilton and Wyndham were keen to shout about their growth figures in recent results. Wyndham spent time contrasting its numbers with those of suitor Choice…Business on the books in Europe is strong, say Pandox, Scandic and STR. And China is back, as noted by IHG and Accor in Q3 numbers - with more to come, as airlift is still rebuilding capacity.

Our thoughts on the big consolidation deal - will Choice swallow Wyndham? AccorInvest looks to slim down, and trim debt, as it seeks to slip away from Accor. And Whitbread looks to find the love for Premier Inn in Germany.

While recent studies paint a rosy picture for the hotel sector, we wonder what the latest issues in and around Israel will deliver to those operating in the region. In the UK and Europe, deals look to be happening again, as issues around inflation and debt are put into perspective. And third party operators spread their wings, as owners learn they can earn more from their assets.

Thoughts from Marriott on how it intends to grow over the next three years, as it launches an underwhelmingly named new brand. More from the Operational Real Estate festival, on how traditional real estate asset classes are losing their appeal. Why all-inclusive continues to be an attractive market sector. And thoughts on the impact of the latest conflict in Israel.

Reflections from the Operational Real Estate Festival. Accommodation alternatives Selina, Soho House and Sonder wrestle with the challenges of growth, and delivering profits - investors like the first, but will ultimately demand the second. And luxury hotels look to be ever in demand, not just from well-heeled guests, but with investors too.

The deals market has been becalmed by higher interest rates, will it now ease? The challenge of demonstrating the economic positives of travel. PPHE and Dalata look confidently ahead; PPHE has a strong brand deal, would Dalata benefit from something similar? And we chew over the frustrations of drip pricing.

Across the piece, all sorts of buildings with beds - from private rental to student accommodation, as well as hospitality - are impacted by either too much, or too little, regualation. In China, indebted developers are casting a shadow over hotel development for the international brands. And hotels return to normalcy, albeit with some tailwinds still to come from the business travel market.

Conversions are the key for hotel brand groups, as new development volume reduces - and IHG is on the front foot with new conversion brand Garner. Marriott has put its money on MGM and its major US resorts in Las Vegas and elsewhere - will Convoy members be able to gamble their points in future? And as online travel agents register record performance figures, the clouds gather over Airbnb.

Ahead of the Annual Hotel Conference in Manchester, we welcome Joe Stather of Questex to discuss findings of Questex's latest quarterly investor sentiment survey; moderating demand, a withering tailwind as business demand starts to level off, and investors still staring at the bid-ask spread and wondering at what price they can get back into the market. The Annual Hotel Conference takes place in M...

Big guns Accor and Hilton delivered strong Q2 figures, but the market prefers Hilton shares to those from Accor right now. India looks a stronger medium term opportunity than China, and its ITC brand is now emerging from its conglomerate parent. And in China, H World’s results reveal a strong snap back in occupancy, as Wyndham, too, likes the look of further growth in the country.

Deal volumes more than halved in the first half of 2023, as investors got their heads around rising debt costs - and owners resisted selling as they carried on trading positively. But things may pick up in the second half. Data from Booking.com and Amadeus point to a continuing strong 2023 for trading, well ahead of previous expectations. And we walk through the first half year results, from Scand...

Accor continues to reinvent itself as a lifestyle and luxury player. But why is it not shouting louder about its successful and dominant economy brands? Debt is getting more expensive, with refinancing tougher to negotiate - what will be the impact on the hotel sector? And experiences, hospitality and leisure increase their presence in former retail spaces, helping to reinvent town and city centre...