Some 9,775 star-rated hotels in China reported totaled operating incomes of 57.77 billion yuan in Q4 2017, of which 25.251 billion yuan, or 43.71%, was room revenues.
The acquisition will boost OYO’s portfolio by 350 exclusive rooms across locations where Novascotia has its footprints.
The acquisition of Regent is part of IHG’s strategic initiatives focused on continuing to expand its footprint in the fast-growing $60 billion luxury segment.
The Company provided guidance for Q1 2018 net revenues growth of 27% to 29% year over year and full year 2018 net revenues growth of 16% to 19% from 2017.
Hainan Airlines, the flagship carrier of HNA Group, will take over the group’s hotel business as part of an asset restructuring by the troubled Chinese conglomerate.
Hotelogix will target group hotels in regions including United Kingdom, North America and South America, and perhaps adds expansion in Thailand.
As with any distribution channel that has the potential to undercut hotels’ direct price, tracking Airbnb’s service charge changes will be vital for maintaining parity.
IHG follows asset-light strategy for acquisition, and Skfit guesses the targets include: Mandarin Oriental, Four Seasons, Shangri-La and Kempinski.
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