Hilton's first quarter results for 2023 released.

The hotel and hospitality giant, Hilton Worldwide Holdings, has just released details of its first quarter 2023 results which show the firm amassed a net income of $209 million.  The company added 9,200 rooms to Hilton's system in the first quarter, resulting in 5,300 net additional rooms in Hilton's system during the period and approved 24,900 new rooms for development, bringing Hilton's development pipeline to 428,100 rooms as of March 31, 2023

Hilton repurchased 3.2 million shares of Hilton common stock during the first quarter, bringing total capital return, including dividends, to $487 million for the quarter and more than $602 million year to date through April.

Full-year 2023 system-wide RevPAR is expected to increase between 8 percent and 11 percent on a comparable and currency-neutral basis compared to 2022; full-year net income is projected to be between $1,331 million and $1,385 million; full-year Adjusted EBITDA is projected to be between $2,875 million and $2,950 million. Full-year 2023 capital return is projected to be between $1.8 billion and $2.2 billion.

Christopher J. Nassetta, President & Chief Executive Officer of Hilton, said, "We carried strong momentum into 2023, exceeding the high end of our guidance for system-wide RevPAR, driving strong bottom-line results and delivering meaningful free cash flow available for return to our shareholders. As a result of our strong performance and positive outlook, we are raising our Adjusted EBITDA guidance for the full year."

In the first quarter of 2023, Hilton opened 64 new hotels totalling 9,200 rooms and achieved net unit growth of 5,300 rooms. Additionally, Hilton started construction on over 19,000 hotel rooms during the first quarter, continuing the positive momentum from the end of 2022, particularly in China. Further, Hilton continued to achieve development milestones during the first quarter, opening the 100th Tapestry Collection by Hilton, as well as its 500th hotel in China. 

The Incline Lodge: North Lake Tahoe’s Only Newly Renovated Boutique Hotel to Debut Summer 2023

The Incline Lodge, a 38-room mountain modern-inspired boutique hotel, will debut early summer as Incline Village’s first and only boutique hotel property. Located adjacent to The Hyatt Regency Hotel on Lake Tahoe’s north shore, the family-owned Incline Lodge is poised to provide a new year-round accommodation option and is now accepting reservations with availability starting July 1, 2023 for Lake Tahoe travelers and locals alike.

Formerly The Parkside Inn, The Incline Lodge has undergone extensive renovations complete with a sophisticated mountain modern aesthetic, custom designed finishes, enhanced acoustical treatments, and AC in every room. The property will also feature three exceptional amenity spaces including a new 1,000-square-foot lobby offering beer, wine, and elevated grab & go food, a downstairs concierge lounge that can accommodate private parties of up to 39 people and an indoor heated pool. Guests will also enjoy a technology driven guest journey with contactless check-in along with kind and knowledgeable staff.

“The vision for The Incline Lodge is to create a place of inspiration where people can create lifelong memories in one of the most beautiful places, and one of the best communities, in the world,” said owners and Incline Village-based residents Natasha and Ali Warner.

Pivot Expands Portfolio with Two Boutique Hotels on the Jersey Shore

Kushner Companies taps award-winning management company to operate Wave Resort and The Bungalow

Pivot, the lifestyle operating vertical of Davidson Hospitality Group, has been selected by Kushner Companies to operate the Wave Resort and The Bungalow. Situated in the heart of Pier Village in Long Branch, New Jersey along the iconic boardwalk, the 67-room Wave Resort features an oceanfront pool deck; Wave Resort Spa and fitness centre; 7,000 square feet of event space, and three distinct dining experiences. Also located in Pier Village, The Bungalow is comprised of 24 rooms and fully equipped suites with kitchenettes; an art gallery featuring work from local artists; 1,000 square feet of event space and a unique cocktail lounge.

"We are honoured to welcome these exceptional properties to our growing family," said Rick Colangelo, Executive Vice President, Pivot. "Through enhanced operations, robust group sales efforts, strategic revenue management, and optimization of the food & beverage concepts, we look forward to elevating both hotels with genuine heart to embolden a truly authentic experience."

"The Wave Resort and The Bungalow offer a genuinely reimagined Jersey Shore experience through modern architecture, design and exclusive amenities," said Nicole Kushner Meyer, President, Kushner Companies. "We were inspired by the Pivot team's deep understanding of the lifestyle space and proven track record of success gaining market share and maximizing seasonal demand drivers at like-minded hotels. The future is bright, and we are excited to leverage their well-rounded expertise to drive performance and profitability."

Pier Village, deemed as one of New Jersey's most luxurious oceanfront and dining destinations, is an award-winning mixed-use beachfront Victorian-inspired community, featuring more than 30 esteemed restaurants, shops and services.

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Happy 50th birthday to Drury Hotels .......

Drury Hotels turns 50.....

Drury Hotels Company, the family-owned and operated hospitality group, celebrates fifty years of warm welcomes this month. 

In 1973, the Drury family opened the first Drury Inn in Sikeston, Missouri and the company has grown to 150 hotels in 26 states. Drury Hotels include Drury Inn & Suites, Drury Inns, Drury Plaza Hotels, and Pear Tree Inns.

"Since our founding, we've been guided by the simple promise to provide our customers with clean rooms, friendly service, and a good night's sleep at an honest price," said Chuck Drury, President & CEO. "Fifty years later, that promise still stands with almost 6,000 team members dedicated to ensuring our guests Travel Happy."

Drury Hotels continually focuses on providing the best value for guests. In 2003, they were among the first in the hotel industry to offer free hot breakfast to their guests and followed up in 2010 by introducing free 5:30 Kickback®, with dinnertime snacks and cold beverages. As its latest enhancement, Drury Hotels recently introduced The Kitchen + Bar for late-night dining options at 16 Drury Hotels, with plans to add eight more by the end of 2024.

In 2022, Drury Hotels earned a record-breaking 17th consecutive J.D. Power award for Highest in Guest Satisfaction Among Upper Mid-Scale Hotel Chains. Drury Hotels' J.D. Power distinction sets a record for the most consecutive wins in the travel and hospitality category.

Continued Growth

Last December, Drury Hotels opened the 604-room Drury Plaza Hotel Orlando located within the Disney Springs® Area, an Official Walt Disney World® Hotel. In the past five years, Drury Hotels has opened 16 new hotels including downtown Nashville Tenn., Milwaukee Wis., Richmond Va., St. Paul Minn., and Dallas Texas. In addition, three new hotels are currently under construction in Tallahassee Fla., Savannah Ga., and Arlington Texas.

IHG and AWC extend long-term strategic partnership with second Kimpton signing

IHG Hotels & Resorts, one of the world’s leading hospitality companies, is proud to announce Kimpton Pattaya, as an exciting extension of its long-standing partnership with Asset World Corp Public Company Limited or AWC in Thailand.

New-build Kimpton Pattaya grows successful collaboration to 1,250 rooms across six properties and three brands

 

The agreement is another major milestone in the relationship between IHG and AWC – renowned as being the Kingdom’s leading integrated lifestyle real estate group, with a stellar track record in market-leading tourist destinations. This will be their second collaboration for a Kimpton Hotels & Restaurants property in the country.

The strategic partnership between IHG and AWC already includes five outstanding properties: the highly-anticipated 302-room InterContinental Chiang Mai Mae Ping which will open this year: two hotels in Bangkok’s Chinatown – the 332-room InterContinental Bangkok Chinatown and 63-room Vignette Collection Bangkok Chinatown; the 234-room Vignette Collection Pattaya; and 124-room Kimpton Hua Hin.

Rajit Sukumaran, Managing Director, South East Asia and Korea, IHG said: “Our partnership with AWC goes from strength to strength and, thanks to this latest collaboration for Kimpton Pattaya, together we have now signed 1,250 rooms across six fantastic properties in the past three years, in Bangkok, Chiang Mai, Hua Hin and Pattaya.

“This will be the fifth Kimpton Hotels & Restaurants property signed in Thailand which shows the confidence owners have in the brand. Together with Kimpton Maa-Lai Bangkok, Kimpton Kitalay Samui and the upcoming Kimpton Khao Yai and Kimpton Hua Hin, the brand already has a strong following amongst affluent and discerning travellers.

“I’m delighted that Kimpton Pattaya is joining Vignette Collection Pattaya – also situated in Aquatique Pattaya – and two open hotels – InterContinental Pattaya and Holiday Inn Pattaya – in the district, establishing IHG as a market leader in Pattaya.”