Worldwide: Hospitality company Hilton has acquired a majority controlling interest in hotel developer and operator Sydell Group to expand the NoMad Hotels brand worldwide. Hilton projects as many as 100 NoMad hotels will be developed globally over time, with approximately 10 already in advanced stages of discussion with Sydell. Currently, there are two properties open including one in Las Vegas and a flagship in London. NoMad Las Vegas is excluded from the transaction and will rebrand to a new flag in the coming months. All future NoMad properties will remain independently owned. Sydell will b ..read more

UK: EHL Hospitality Business School, the Energy & Environment Alliance, and King’s Business School will launch an education programme focussed on the practical aspects of delivering ESG in hospitality. The programme will be designed specifically for hospitality managers, investors and asset owners.  It will provide an overview of the science behind climate change and its financial implications, including new regulatory requirements and accurate data collection. Participants will learn the skills to lead change in their business, such as minimising food, water and energy waste. Stéphan ..read more

The Netherlands: The owners of boutique hotel brand citizenM are reportedly exploring options for its portfolio, including a potential sale of the business. According to the Financial Times, citizenM is working with advisers Morgan Stanley and real estate investment bank Eastdil Secured to explore options for the brand.  Discussions are reportedly at an early stage with citizenM potentially pursuing “the sale of a minority stake”. The value of citizenM could be worth around $4 billion in a deal, said a spokesperson close to the matter.  Founded by Rattan Chadha, citizenM raised $1 bi ..read more

US/UK: Hotel and resort company Hilton has agreed to acquire the Graduate Hotels brand from AJ Capital Partners. Hilton will pay $210 million to acquire all rights to the Graduate brand worldwide, enter into franchise agreements for all existing and signed properties in the pipeline, and become responsible for the brand’s future development and growth.  AJ Capital will remain the owner of more than 35 operating and pipeline Graduate properties. The transaction is expected to close in Q2 2024. The Graduate Hotels brand will be co-opted into Hilton’s lifestyle portfolio alongside Canopy by ..read more

Worldwide: Sustainable hotel portfolio Beyond Green, part of Preferred Travel Group, has added seven members to its global collection, including the group’s first properties in Colombia and Zimbabwe.  The Beyond Green portfolio currently spans 20 countries. Members must adhere to more than 50 sustainability indicators aligned with global standards and the United Nations Sustainable Development Goals. Properties which have recently joined Beyond Green include: • ARTIEM Asturias (Spain) – a wellness retreat located on the northwest coast of Spain. Within the guest rooms, an energy-savi ..read more

UK: CDL Hospitality Trusts, which owns five-star hotel The Lowry in Manchester, is set to launch a lifestyle build-to-rent (BTR) scheme behind Manchester Piccadilly station this June. Marking the first residential venture from CDL, the BTR project – called The Castings – will offer 352 apartments ranging from studio to three-bedroom options.  Amenities include a yoga room, a gym, a games room, private dining space, and a coworking hub. At ground level, three retail and F&B units will service residents and locals.  The Castings community manager, Dave Evans, said: “In just a coupl ..read more

EU: Privately owned hostel chain a&o Hostels has revealed plans to invest €500 million towards its European expansion. The company is targeting office and retail conversions in cities such as London, Paris, Rome, Madrid, Lisbon, Berlin, Munich, Prague, and Amsterdam. According to a&o‘s CEO Oliver Winter, negotiations are already underway. Currently, a&o’s CO2 footprint is 3.73 kilograms per night – reportedly around 80 per cent lower than other industry brands. The company aims to become one of Europe’s first net zero hostel chain by 2025, and repurposing buildings will support thi ..read more

Europe: Hotel consultancy HVS has published its European Hotel Valuation Index (HVI) which reveals an uplift of around one per cent in 2023. During 2021 and 2022, the HVI reported value rises of 3.8 per cent and 4.5 per cent respectively. In 2023, the result was an uplift of around one per cent which keeps hotel values in Europe at approximately 97 per cent of 2019 levels. The slowdown in recovery is considered to be impacted by the war in Ukraine, the war between Israel and Hamas, and the Chinese economy, as well as increasing operational costs and high interest rates.  Hotels in Paris ..read more

UK: In the Spring Budget 2024, Chancellor Jeremy Hunt revealed the government will freeze alcohol duty and cut National Insurance, as well as raise the VAT threshold for small businesses to £90,000. In today’s Spring Budget, Hunt outlined plans to increase the VAT registration threshold from £85,000 to £90,000 for small businesses. The decision to maintain the 20 per cent VAT rate however, and not cut it to 12.5 per cent, has been criticised by hospitality operators.  Other key news announced in the Budget includes: • The freeze on alcohol duty, which was due to end in August, has been ex ..read more

UK: Independent Hotel Show Amsterdam, organised by Montgomery Group, returns next week on 12-13th March, held at RAI Amsterdam. In its fourth year of running, the theme for this year’s IHS Amsterdam is ‘Dreamland’. Visitors are encouraged to “take a respite from the ordinary and experience a dreamland of trend exploration, product innovation and networking”. Event manager Tess Suters explained: “Today’s hotel guest wants to be surprised by a combination of luxury and creativity. And that naturally also applies to the visitors to our event. We asked our designers to create a dreamworld where ho ..read more