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Global Hospitality Report (August 8, 2016)

HVS Market Pulse: Colorado Springs 2016  
By Katy Black and Patrick Bursey

Following a series of setbacks that hindered recovery, the Colorado Springs hotel market sprang back in 2014. Government travel levels and economic conditions improved in 2015, and lodging-tax revenues year-to-date reflect a positive trend of growth.

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HVS Market Pulse: Detroit, Michigan 
By Brandon Leversee

Some of Detroit's historic buildings have been vacant for decades. Over the past few years, independent hoteliers and lifestyle brands have stepped in to transform the dated buildings into first-class hotels.

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Canadian Lodging Outlook Quarterly 2016-Q2 

Canada’s lodging market is absorbing the slowdown in the oil producing provinces and showing a positive RevPAR growth at 2.4%. Downtown Vancouver is leading with the highest RevPAR increase of 12.8%, closely followed by Downtown Toronto at 11.3%.

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Sokha Hotel Unveils New Conference Center in Siem Reap 

Sokha Hotels & Resorts has unveiled a major new conference and exhibition space – the Sokha Convention Center, in Siem Reap, Cambodia. Located adjacent to the 770-key Sokha Siem Reap Resort, which is due to open in September 2016, the 8,950 square meter facility will be equipped with state-of-the-art audiovisual and telecommunications technology. Currently, Sokha Hotels also manages other convention facilities in Phnom Penh, Sihanoukville, Kampot, as well as in Siem Reap. While the majority of large-scale conferences in Cambodia are held in Phnom Penh, it is anticipated that the new Sokha Convention Center will boost the potential of Siem Reap as a promising new MICE destination in Asia. Furthermore, with a halal-certified kitchen, the convention center is expected to attract large-scale events from Muslim countries, especially from neighboring ASEAN nations such as Indonesia and Malaysia. Siem Reap is an important cultural destination for tourists from all across the world. It is a major tourist hub in Cambodia, being closest to the world famous temples of Angkor Wat.

HVS APAC HOSPITALITY NEWSLETTER.
Could Riu be the New Owners of the Gresham?  

It was reported this week that Spanish chain Riu Hotels and Resorts has emerged as the leader of the pack in the bidding for the Gresham hotel in Dublin, Ireland, with a bid of €92 million. Ireland’s National Asset Management Agency put the four-star, 300-room hotel, housed in a landmark Georgian building on O’Connell Street, up for sale earlier in the year. Majorca-based Riu currently has 105 hotels and resorts across 19 countries.

HVS EMEA HOSPITALITY NEWSLETTER.

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