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Global Hospitality Report (September 15, 2014)

Trends and Opportunities: New England Hotel Market 
By Preston Puleo

Over two centuries of transformation have made the region a major center in fields as diverse as aquaculture, education, finance, health care, insurance, high technology, and defense. This article looks at recent trends and prospects for New England.

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Market Pulse: Malta 
By Nikolas Pavlidis

This article provides a quick overview of the recent tourism trends in Malta.

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HVS Hotel Management Contract Survey Reveals Interesting Trends in the Initial Term 

This comprehensive survey examines 236 hotel management contracts across USA, Europe and APAC, with particular emphasis on six major areas that are critical for owner-operator negotiations, such as the Management Contract Term. The survey reveals: (i) contracts across all three regions show an inclination towards an initial term of 20 years; (ii) among the three regions, contracts signed in the USA have the shortest initial term; (iii) the average length of the initial term for existing hotels is shorter vis-à-vis new properties, and (iv) hotels with a higher positioning and more number of rooms have a longer initial term than budget/mid market hotels or those with a lower room count. To purchase the full report, please visit the HVS BOOKSTORE.

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Tourism, Hotel Investment & Networking Conference (THINC) Indonesia 2014 Successfully Concludes on 5 September 2014 

Hosted by HVS, THINC Indonesia 2014 successfully created a distinctive platform delivering significant value for all participants and delegates who had the opportunity to learn and share knowledge and best practices with their regional and international counterparts. The event which took place on 4 and 5 September, 2015 at the Sofitel Bali Nusa Dua Beach Resort, concluded on a high note and presented two exciting days of networking opportunities and a captivating line-up of addresses and panel discussions on the hotel and tourism industries in Indonesia and Southeast Asia. Co-Hosted by the Ministry of Tourism and Creative Economy, Republic of Indonesia and the Indonesia Investment Coordinating Board (BKPM), the conference brought together over 260 industry stakeholders, business leaders and key decision-makers from across 17 nations.

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Westmont to Buy The Lowry 

Rocco Forte has reportedly agreed to sell The Lowry Hotel in Manchester, northwest England, to Westmont Hospitality for approximately £45 million (£272,700 per room). The 165-room, five-star hotel, on the banks of the River Irwell, was placed on the market in January 2014 for offers of more than £40 million. The deal will mark Westmont’s second regional hotel acquisition in the UK this year, following its purchase of the 120-room Brooklands Hotel in April for around £20 million (£166,700 per room).

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