Today’s news in brief
Hyatt reported a 5.5% increase in total Revenue per Available Room (RevPAR) and net rooms across the group’s estate during the first quarter. Net income reached $522m (£416m), with adjusted net incomes hitting $75m (£59m). The group reported an adjusted EBITDA of $252m (£201m) for Q1, with full-year adjusted EBITDA projected to be between $1.15bn (£920m) and $1.19bn (£950m). The group also had a pipeline of executed management or franchise contracts of approximately 129,000 rooms during Q1. For the full year, Hyatt expects its RevPAR to increase between 3% to 5% compared to 2023, with net income projected to be between $1.13bn (£900m) and $1.19bn (£950m). Mark S. Hoplamazian, president and CEO of Hyatt, expressed satisfaction with the performance, highlighting record gross fee revenues, a growing pipeline, and increased membership in the World of Hyatt programme.
The Grade II Corinium Hotel in Cirencester has been put up for sale with an asking price of £295,000. The 15-letting bedroom hotel boasts original 17th century features while catering to modern hospitality needs. With a prime location in Cirencester, voted the “Best Place to Live in the South West,” the hotel attracts both UK and international tourists. The sale is due to the current owners’ plans for retirement, offering a great opportunity for someone looking to enter the hospitality industry or manage their own business.
St Moritz Hotel and Cowshed Spa announced Jake Arthur Grove as its new chef de cuisine. Grove brings extensive experience from Michelin-starred establishments and will oversee the hotel’s dining offerings. He aims to prioritise seasonal hospitality and work closely with local suppliers to source sustainable produce. The hotel’s management expressed excitement about Grove’s return and highlighted his dedication, creativity, and focus on culinary excellence.
The Irish hotel operator, Dalata Hotel Group, announced a major €3m (£2.58m) repositioning of its core brands and customer proposition. This investment marks the most significant since the group’s formation, aiming to redefine its brands for clearer visual identity and stronger market positioning. The repositioning includes new visuals, messaging, and brand identities for Dalata, Clayton Hotels, and Maldron Hotels. The refresh is driven by the group’s growth and expansion into new markets, emphasising customer focus and hospitality excellence. CEO Dermot Crowley emphasised the importance of the brand refresh in aligning with customers’ expectations and enhancing the guest experience.
