Global Hospitality Report (August 16, 2017)

HVS Releases H1 Manhattan Lodging Overview 

Manhattan’s extended recovery is expected to be aided by massive new neighborhood developments, a strong national economy, and, by extension, the wide array of leisure, commercial, and meeting and group demand generators in the borough. The chief hindrance to an accelerated recovery is the current supply pipeline through 2018 and its negative effect on average rate in the market, as has been demonstrated in recent history; however, supply growth is anticipated to slow beginning in 2019, tapering off significantly thereafter. The 2017 HVS H1 Manhattan Lodging Overview provides detailed insight and data-rich graphs, charts, and tables that illustrate the trajectories of hotel supply, demand, and performance.

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HVS Market Pulse: Boise, Idaho 
By Breanna Smith, MAI

Following a period of little to no new hotel supply in Boise, economic growth has brought an influx of proposed hotels along with expansions at the convention center and other major economic drivers.

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Mantra Group Expands with A$52.5 Million Acquisition of Art Series Hotel Group 

Australia-based Mantra Group has penned an agreement with Deague Group to acquire the local Art Series Hotel Group, in a transaction estimated to be approximately A$52.5 million (US$41.7 million), excluding transaction costs. The Art Series Hotel Group’s portfolio boasts seven luxury properties, comprising over 1,000 guestrooms, and a host of top-tier meeting facilities, restaurants, and amenities. The seven hotels are spread among key destinations in Australia – five in Melbourne, one in Brisbane and one in Adelaide. The deal represents a sizeable addition to Mantra Group's current portfolio of 128 properties and more than 21,500 rooms in properties under management across Australia, New Zealand, Indonesia and Hawaii. Recognizing the strength of the brand in the market, each of the seven properties will continue to operate under the Art Series brand. The deal is expected to be completed by late 2017, subject to closing conditions customary for an acquisition of this nature.

HVS APAC HOSPITALITY NEWSLETTER.
Henderson Park Acquires Hilton Metropoles in London and Birmingham  

European real estate investment platform Henderson Park is to purchase two Hilton Metropole hotels in the UK for reportedly £500 million (£270,000 per room) from family owned Tonstate Group, marking Henderson’s entry into the UK hotel market. The transaction includes the 1,059-room Hilton London Metropole, in the UK capital’s Paddington area, and the 790-room Hilton Birmingham Metropole, located at the National Exhibition Centre in England’s West Midlands region. Both properties will continue to be operated by Hilton Worldwide.

HVS EMEA HOSPITALITY NEWSLETTER.

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