Today’s news in brief – 29/8/24
Generator and Freehand Hotels have formed a strategic partnership with Dusit Hotels and Resorts, part of Dusit International, a leading Thai hotel company. This collaboration aims to leverage both groups’ strengths to foster international growth. Generator and Freehand will use their expertise in hybrid accommodation models to introduce Dusit Hotels in key European and U.S. cities, such as London. Conversely, Dusit will introduce Generator and Freehand models in Asia and the Middle East, targeting cities like Bangkok, Manila, and Dubai, as well as popular island destinations. This partnership is expected to explore opportunities for all Dusit brands, including luxury and midscale offerings. Leaders from both companies emphasise the mutual benefits and the potential for new market expansions, marking an exciting phase for their growth strategies.
Premier Inn has introduced its “Next Evolution Style” rooms, which reflect a major shift in design driven by evolving cultural trends, such as flexible working environments and increased social media content creation. These rooms feature softer, more stylish décor with neutral colours, enhanced lighting, and functional elements like double shower heads and flexible workspaces. The rooms are segmented into zones for sleeping, working, and getting ready, catering to both business and leisure travellers. Additionally, Premier Inn has integrated more “Instagrammable” features like neon signs and modern art, aiming to enhance guest experience and comfort. This redesign aligns with the brand’s commitment to providing a personalised and efficient environment, responding to guests’ changing needs post-Covid.
PPHE Hotel Group reported a 6.1% increase in revenues, reaching a record £191m for the first half of 2024, despite construction delays in some art’otel projects. The group saw a 10.9% rise in EBITDA, driven by a diversified business mix, with a shift from leisure to more corporate and event-based travel. However, London’s revenue growth was flat, and RevPAR slightly decreased due to new hotel openings. The group remains optimistic, with new projects expected to contribute positively from 2025. The overall performance reflects the group’s resilience amid a challenging economic environment.
UK hotel occupancy rose to 84.8% in July 2024, with London reaching 89.3%, close to pre-pandemic levels. Despite higher occupancy, average daily rates (ADR) remained flat. Revenue per available room (RevPAR) increased, and gross operating profits (GOP) also improved, reflecting a strong recovery in the hotel sector. Events like Taylor Swift’s concerts significantly boosted demand, particularly in London, and continued high demand is expected to sustain this positive trend through the summer.
