Global Hospitality Report (January 3, 2017)

HVS Market Pulse: Salt Lake City, Utah 
By Katy Black and Ryan Mark

Salt Lake City’s hospitality market has grown in virtually every metric over the past several years. Demand growth continues to outpace supply, especially with Utah’s ski visitation on the rise.

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HVS Market Pulse: Northern New Jersey’s “Pharm” Country 
By Kim Lindell

Hotel markets across Somerset, Morris, and Middlesex Counties in northern New Jersey have realized a rise in commercial lodging demand, the result of corporate relocations from New York City and local company expansions.

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In Focus: Niagara Falls Area, Ontario, Canada 
By Jingjianxiong (Charlie) Shi and Monique Rosszell

The Niagara Falls, ON, region is seeing another record-breaking year in RevPAR growth. The rise in occupancy and average daily rate is expected to continue with the persistence of the weak Canadian dollar and the rise in US/international travellers.

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THINC Sri Lanka 2017: Exploring Growth and Investment Opportunities 

Once again, all industry stakeholders will come together to explore growth and investment opportunities in the region at the 2nd edition of the THINC Sri Lanka conference, to be held in February. Hosted by HVS, the 2017 event will continue to provide accurate and relevant content through engaging panel discussions and keynotes by prominent industry leaders. One of the many highlights of the upcoming conference is a stimulating on-stage discussion that will focus on Sri Lanka’s tourism investment and development outlook, while addressing some of the critical challenges facing the industry. To be moderated by Saurabh Gupta, Managing Director of HVS Investment Advisory Services, this plenary session will comprise a select panel of regional specialists including Dillip Rajakarier, Chief Executive Officer, Minor Hotel Group; Duminda Ariyasinghe, Director General, Board of Investment (BOI) Sri Lanka; Niladri Mukhopadhyay, Managing Director Asian Special Situations Group, Goldman Sachs, and Roman Scott, Chairman, The Calamander Group.

BLOCK YOUR DATES: 7 & 8 FEBRUARY, 2017 | GALLE FACE HOTEL COLOMBO.
AccorHotels Restructures Major Lease Portfolio in Australia 

AccorHotels announced that it has reached an agreement with a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) to restructure a portfolio of 31 hotels (4,097 rooms) in Australia. The portfolio was purchased by the ADIA subsidiary in 2013 and operated by AccorHotels. Under this agreement, AccorHotels will convert 15 triple-net leases into 50-year management agreements, and extend the management term of one hotel also to 50 years (total 16 hotels). Furthermore, AccorHotels (HotelInvest) will acquire the real estate of the remaining 15 ibis and ibis Budget branded properties for AUD$200 million. The hotels are in prime locations in Canberra and Sydney, including Sydney’s Darling Harbor and Sydney Olympic Park. The portfolio is also spread across city and regional locations in New South Wales, Victoria, Northern Territory, Western Australia and Queensland, and encompasses the Pullman, Novotel, Mercure, ibis, ibis Styles and ibis Budget brands.

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