FCM Hotel Insights: May 2018

AccorHotels buys Mövenpick Hotels & Resorts

In a bid to expand their luxury portfolio, French hotel group Accor has announced a deal to purchase Swiss international hotel chain Mövenpick Hotels & Resorts. Mövenpick operates more than 80 properties worldwide, especially in the Middle-East and Asia.  The acquisition comes after Accor divested itself of its property division earlier this year, using the capital raised to fund future acquisitions. Although this deal will set them back more than $500 million Accor still has billions to invest, so this could just be the beginning of a string of purchases.

Starwood offers points bonus for mobile check-ins

Marriott has announced a new promotional initiative for its Starwood Preferred Guest program, underscoring the importance the hotel giant is placing on app interactions as part of its loyalty strategy. Guests who use the mobile check-in capacity of the app will earn an automatic 250 points per stay at selected Starwood locations.

TWA Hotel unveils new model room at JFK

Showcasing their new design concept, the TWA hotel at New York’s Kennedy Airport has revealed a fresh model room this month. The new aesthetic features midcentury furnishings designed by Eero Saarinen, vintage phones and a martini bar, drawing on the rich history of the location as one of the standard bearers of cutting-edge design in the Jet Age. The 512-room TWA hotel is set to open in 2019 at the iconic TWA Flight Center.

Wyndham to spin off Hotel

Parent company Wyndham Worldwide is continuing with its plan to spin off its hotel arm Wyndham Hotel Group into a separate company according to recent announcements by CEO Stephen Holmes this month. While transition arrangements are apparently in place, the actual spin-off process is not expected to begin until next month at the earliest.

New York’s iconic Plaza Hotel to Change Ownership

The Plaza Hotel, high-profile fixture of the New York hotel industry for more than a century and home of fictional New Yorker Eloise, will soon be under new ownership. The new buyers, Dubai-based White City Ventures and the New York based Hakim Organization. The deal, set to take effect on June 25, will see the new owners paying $600 million for the iconic hotel on the south-east corner of central park to the current operators.