Global Hospitality Report (July 11, 2016)

U.S. Hotel Development Cost Survey 2015/16 
By Stacey Nadolny

Each year, HVS researches development costs from our database of actual hotel construction budgets, industry reports, and franchise disclosure documents. These sources provide the basis for our range of component costs per room.

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The Serviced Apartment Sector in Europe – Highlights and Trends in 2016  
By Arlett Hoff

Highlights and trends of the European serviced apartment sector in 2016.

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Container Hotel and Prefab Bungalow: Modular Building Construction in China 
By Daniel Voellm and Wayne Wei

With a fast changing economic environment and society coming to terms with the ‘new normal’ in China, the modular building system might become one possible remedy to bring momentum to hotel development in China, particularly in remote areas.

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Marriott Brings JW, Edition Brands to Singapore 

Last week, self-managed hotel – The South Beach Singapore officially handed over its operations to Marriott International. This agreement will see this 634-room hotel being converted into the JW Marriott Hotel Singapore South Beach, marking the JW brand’s debut in the Lion City. The hotel will remain operational during the refurbishment and an official relaunch is slated for November this year. The renovation will entail little modification to the rooms, while the spa would be completely renovated and the lobby expanded. Three new restaurants, including one helmed by renowned chef Akira Back, is also in the works, expanding total F&B offerings to nine. During the signing ceremony, Marriott also announced that it is bringing the Edition brand to Singapore. To be called The Singapore Edition, the first property will be an eight-storey, 190-room boutique luxury development located in the Orchard district, and is scheduled for opening in 2019.

HVS APAC HOSPITALITY NEWSLETTER.
Overseas Visitation to the UK on the Rise After Brexit  

Following the results of last week’s referendum, which revealed that the UK had voted to leave the EU, many hotel companies have reported a rise in bookings from overseas visitors, with the weakening of the pound making the country a cheaper destination. Best Western has reported an increase in bookings from US and Chinese visitors and has even had to recruit additional staff in its head office in York to cope with the demand. “We know it is early days but we are seeing a double bounce to business as a result of Brexit,” said Rob Payne, chief executive of Best Western Great Britain. “We’ve seen an increase in international bookings to some of our hotels in great British locations. Interestingly, we are also seeing an increase in enquiries from hotel owners wanting to join the Best Western brand since the referendum,” he added. However, not all hotel firms have recorded an increase in business since the referendum. Carlson Rezidor and AccorHotels both commented that they had not seen any significant increases in demand from the USA or China for their UK properties. “There are suggestions that Brexit could see an increase in visitors from China but there are no stats to support that as yet,” said Sean Philby, area director of sales for Carlson Rezidor.

HVS EMEA HOSPITALITY NEWSLETTER.

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