Today’s news in brief – 10/10/23
A report by Christie and Co revealed that RevPAR growth in the UK’s top 10 cities and hotel markets exceeded 2022 and pre-pandemic 2019 levels during H1 2023. This growth was led by cities like Edinburgh, Belfast, London, and Birmingham. Despite challenges such as pandemic-related delays in the development pipeline and economic uncertainties, nine of the top 10 UK markets could experience hotel room supply growth of over 12%. This reflects the enduring appeal of the UK hotel sector for domestic and foreign investors beyond London. Transactional volumes in these top cities reached £567m in H1 2023, showing signs of recovery despite some challenges in closing deals.
The Inn Collection Group (ICG) has named Joe Bernhoeft as its new CFO. Bernhoeft brings extensive finance experience from roles at Barbour International, Amazon, Proctor & Gamble, and Smurfit Kappa. His appointment coincides with the reopening of properties like The Ripon Inn and The Tynemouth Castle, with more sites expected to open in 2024. ICG is expanding its estate following significant investments and refurbishments.
InterContinental Hotels and Resorts, part of IHG Hotels and Resorts, is relaunching its brand across 215 luxury hotels worldwide. This transformation aims to enhance the luxury travel experience through technology, innovative design, and diverse team members. Initiatives include scientifically-backed food and beverage programs to combat travel fatigue, access to the Timeshifter jet lag app, and the creation of Concierge Galleries in hotel lobbies. These galleries will offer local cultural knowledge and more engaging interactions between guests and concierges. Additionally, Celebration Suites will be introduced for special occasions.
Beam, a trade association for the business events, accommodation, and meetings industry, has added four new board directors. Ben Hioco, Linden Beattie, Krishna Pastakia, and Joe Evans join the board, bringing their expertise to the association. They will contribute to the association’s continued development and progress, working alongside existing board members in various roles.
