Hotel investment tops £1bn in bumper start to year Hospitality UK hotels attracted more than £1bn investment in the first quarter of this year, as the sector defies business rate rises and market uncertainty caused by the Iran war. Hotel investment volume surpassed £1.1bn in the first three months of the year, marking a 63 per cent increase on the £680m recorded in the same [...]
Competition watchdog probes top hotel chains over data sharing Hospitality The UK’s competition watchdog has launched a probe into top hotel chains including Hilton, Marriott and FTSE 100 giant IHG over their suspected use of a data analytics tool to share information with each other. The Competition and Markets Authority (CMA) announced the investigation on Monday morning, which centres around the hotel chains’ use of [...]
Marriott to acquire smart hotel brand CitizenM for £266m hospitality Marriott International will acquire hotel and lifestyle brand CitizenM for £266m as it looks to expand its select-service and lifestyle lodging offerings. CitizenM, which opened its first hotel in 2008, currently operates 36 open hotels – with 8,544 rooms – across more than 20 cities. The brand’s current pipeline includes three under-construction hotels comprising over 600 [...]