Global Hospitality Report (April 18, 2016)

Trends and Opportunities South America 2015-2016 
By Cristiano Vasques, Pedro Cypriano and Fernanda L'Hopital

This article analyzes the hospitality results and forecasts in South America. By understanding the main challenges and opportunities of the industry, it is possible to offer some tools to managers and investors to build their strategies. Click here to view in Spanish.

Access HVS Boston Key Takeaways 
By Erich Baum, Brian Bisema and Preston Puleo

Access HVS Networking Event in Cambridge reveals strengths and challenges for New England markets.

ITC Hotels Renews Partnership with Starwood in India 

Indian luxury hospitality chain ITC Hotels announced the renewal of its partnership with Starwood Hotels and Resorts this week. The agreement covers 11 existing ITC hotels co-branded under the Luxury Collection brand and one Sheraton property. Three forthcoming ITC Luxury Collection hotels in India namely the ITC Kohinoor in Hyderabad, ITC Narmada in Ahmedabad and ITC Royal Bengal in Kolkata, which are due to open in the next four years are also included in the agreement. The ITC and Starwood partnership dating back to 1979 began with the signing of the Sheraton brand. In 2007, the companies signed an agreement through which Starwood launched The Luxury Collection brand in India, operated by ITC.

Kingdom Sells Interest in InterContinental Hotel Lusaka  

It was reported this week that Kingdom Hotel Investments (KHI), a fully owned subsidiary of Saudi Arabian conglomerate Kingdom Holding Company (KHC), has sold its 100% interest in the InterContinental Hotel Lusaka in Zambia, Southern Africa, to Mauritian-based fund QG Africa Hotel LP for a gross consideration of US$35.9 million (approximately US$160,000 per room). The 224-room hotel is located in the diplomatic district of Zambia’s capital and largest city. Commenting on the transaction, HVS alumnus Sarmad Zok, chairman and chief executive officer of KHI and a member of KHC's board of directors, said that the sale of the hotel “is part of KHI's ongoing value realization mandate and speaks to the quality of our assets and our team execution."


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