MONTH IN REVIEW
MONTH IN REVIEW
www.hotelowner.co.uk
ACQUISITION
AccorHotels
completes its
acquisition of a
50% stake in SBE
Entertainment
Group
AccorHotels has announced it has
completed the acquisition of a 50%
stake in the SBE Entertainment Group.
Through this partnership,
AccorHotels’ said it will pursue its
strategy to expand its offering in the
luxury lifestyle hospitality segment and
its footprint in gateway cities across
North America.
This long-term investment will also
allow SBE to leverage AccorHotels’
global hospitality platform while
remaining an independent luxury
lifestyle operator. SBE will continue to
be led by its founder and CEO Sam
Nazarian as well as its management
team while retaining its global
headquarters in New York.
Sébastien Bazin, chairman & CEO of
AccorHotels said: “I am very proud of
this unique partnership. It combines the
best of both groups by offering all our
guests lifestyle concepts in the luxury
segment. With sbe’s brand portfolio,
AccorHotels is also taking a significant
step forward in its group’s expansion in
key gateway cities in the US.
“Sam Nazarian is an innovator with
an inborn sense of creating unique
experiences and groundbreaking hotels
and F&B concepts. We are delighted to
join forces and mutualize our skills for
the benefits of our guests.”
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www.hotelowner.co.uk
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HOTEL SALES
Ryndle Court
Hotel sold to
‘experienced’
local operator for
£725,000
Ryndle Court Hotel, situated close to the
Scarborough coast in North Yorkshire,
has been sold to an “experienced local
operator” for £725,000.
The property was purchased by
Yorkshire Hospitality, a hotel operating
company which also owns Scarborough
Travel & Holiday Lodge. Comprising 23
en-suite bedrooms, the hotel features
a restaurant, which caters for up to
40 covers, a bar, and a function room
equipped for up to 55 guests.
Yorkshire Hospitality plan to reinvest
and modernise the property to improve
its trading potential and build on
the private functions opportunities
it presents. A statement by the
group read: “We are excited for the
development and to introduce new
bedrooms to the property. This is a
great new addition to our portfolio.”
The family run business had been
owned by Mr and Mrs Shelton for 13
years before they decided to sell in
order to pursue retirement. They said:
“We have spent many enjoyable and
memorable times in the hotel with
friends old and new. At the end of this
era, we now look forward to spending
more time with our family and pursuing
other projects in the future. Special
thanks to our agent, Sam Ashton and
the Christie & Co team.”
IHG is in almost 100 countries
and we touch the lives of
millions of people each day.
This gives us a responsibility
to protect the environment
and an opportunity to make a
real difference
Keith Barr, CEO, IHG
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ENVIRONMENT
IHG to remove
plastic straws
from hotels
worldwide
InterContinental Hotels Group (IHG)
has announced it will remove plastic
straws from its global estate by the end
of 2019, representing more than 5,400
hotels in nearly 100 countries.
Plastic straws have already been
removed from nearly 1,000 if its hotels
in Europe, Middle East, Asia and Africa
(EMEAA) but the global hotel chain has
now moved to get rid of them entirely.
It also announced it is introducing
bulk-size bathroom amenities to several
hotel brands in the Americas, as part of
broader efforts to reduce waste.
Keith Barr, CEO, IHG, said: “IHG is
in almost 100 countries and we touch
the lives of millions of people each day.
This gives us a responsibility to protect
the environment and an opportunity to
make a real difference. There is always
more we can do to minimise waste, but
the work we’re doing to reduce single-
use plastic is a powerful example
of how we can come together with
guests, owners and colleagues to drive
positive change.
“This work is not going unrecognised.
Very recently we were named an
industry leader on the Dow Jones
Sustainability Indices for the second
year running, which is a real point of
pride for us and recognition of the hard
work and dedication of our people and
partners around the world.”
Madhu Rajesh, director, the
International Tourism Partnership (ITP),
added: “IHG’s committed action to
reduce plastic waste demonstrates its
ability to be a force for good in local
communities around the world. With
initiatives like these, and through close
collaboration, the hotel and tourism
industry can continue to lead the
way in setting clear and quantifiable
commitments that improve sustainability.”
November 2018