Today’s news in brief – 14/2/24
Marriott reported a significant increase in net income for Q4, reaching $848m (£675m) compared to $673m (£536m) the previous year, driven by strong international performance. RevPAR rose by 7.2% overall and by 17.4% in international markets. Additionally, adjusted EBITDA totaled $1.19bn (£950m), up from $1.09bn (£870m) in the previous year’s fourth quarter. Marriott added nearly 81,300 rooms globally in 2023, increasing its net rooms total by 4.7% from year-end 2022. The group’s worldwide development pipeline totaled almost 3,400 properties and roughly 573,000 rooms by the end of 2023, with more than 232,000 rooms under construction. CEO Anthony Capuano expects continued growth in 2024, projecting a worldwide full-year RevPAR increase of 3% to 5% and net rooms growth of 5.5% to 6%.
Gino D’Acampo opened a new Italian restaurant at INNSiDE by Meliá hotel in Manchester, featuring bold design elements and a menu offering authentic Italian cuisine. The restaurant boasts a light colour scheme, marble tables, and wallpaper adorned with exotic birds and wildflowers. Gino expressed excitement for the opening, emphasising his love for the city and his dedication to offering genuine Italian food. The UK director at Meliá Hotels International praised the restaurant’s design and invited guests to experience its offerings.
Native Places unveiled strategic initiatives, including the signing of a new property in Fulham, London, and the completion of renovations at Native Glasgow. Native Fulham Broadway, set to open in 2025, will feature 41 apartments and a neighbourhood space called Counter. The design aims to blend with the community surroundings. Meanwhile, Native Glasgow underwent comprehensive renovations, combining historical architecture with modern amenities. CEO Olivia Immesi highlighted the demand for aparthotels, offering flexibility and convenience for longer stays.
Cedar Manor Hotel, a boutique hotel in Windermere, was put on the market for £2m. The Victorian country house hotel features a lounge, bar, dining restaurant, and 10 luxury bedrooms. Owners Jonathan and Caroline Kaye, who have owned the hotel for 17 years, are selling to pursue other business interests. Negotiator Joel Osbourne described the hotel as a well-established, award-winning boutique hotel in the heart of The Lakes, offering luxury in the Lake District National Park.
