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The International Hotel Industry - March 2017

“There is an increasing blurring of the lines in the lodging sector between hotels and alternative accommodation, such as peer-to-peer rentals, serviced apartments, hostels, etc. AccorHotels has plunged head first into the alternative accommodation space with their 2016 acquisition of onefinestay and their newly launched Jo & Joe brand. Choice Hotels has dipped a toe into alternative accommodation with their holiday-rentals platform and the Spanish hotel group Room Mate has embraced the sharing economy wholeheartedly with its Be Mate offering that provides hotel services in rented apartments. More hotel chains are likely to follow this trend in the coming months and years. At the same time, there is a realisation that product quality and reliability need to be enhanced in the accommodation-rental sector if the likes of Airbnb are going to succeed in broadening their customer base to attract upmarket leisure travellers and corporate managers.”
- Jessica Kelly, Senior Leisure Analyst

This report provides an overview and update about the current trends and outlook for the international hotel industry, and looks at the following areas:

  • What are the key issues currently facing the hotel industry?
  • How will the increasingly volatile and unpredictable political environment impact the hotel industry going forward?
  • How will rising interest rates impact hotel values?
  • What are the trends and who are the players in the world’s major hotel markets?
  • Is the hotel cycle peaking?
  • How are the major chains confronting the sharing economy?
  • What are hotels and chains doing to attract more direct bookings?
  • Why has there been such a proliferation of hotel brands?
  • What are the prospects for the biggest integrated hotel chains?

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Table of contents

  1. Introduction

      • Key findings
      • Data Sources

        • Abbreviations

          • Issues in the Market

            • Hotel cycle peaking in North America
              • Hotels confront the sharing economy
                • Hotel loyalty schemes combat OTAs
                  • Brand proliferation
                    • Chinese brands on the rise
                      • Rising political uncertainty
                      • Global Summary

                          • Demographic trends
                            • Figure 1: Population of the world & major regions (m), 2015, 2030, 2050 & 2100
                          • The migration factor
                            • Economic, interest-rate and currency outlook
                              • Figure 2: Overview of the World Economic Outlook projections (% change, unless noted otherwise), January 2017 update
                            • Currency outlook
                              • Figure 3: Foreign exchange outlook, 2017
                            • Outlook for spending on travel and tourism
                              • Figure 4: Spending* on travel & tourism worldwide (US$bn), 2015 & 2026
                            • Africa
                              • Figure 5: Spending* on travel & tourism in Africa (US$bn), 2015 & 2026
                            • Americas
                              • Figure 6: Spending* on travel & tourism in Americas (US$bn), 2015 & 2026
                            • Asia Pacific
                              • Figure 7: Spending* on travel & tourism in Asia Pacific (US$bn), 2015 & 2026
                            • Europe
                              • Figure 8: Spending* on travel & tourism in Europe (US$bn), 2015 & 2026
                            • Middle East
                              • Figure 9: Spending* on travel & tourism in the Middle East (US$bn), 2015 & 2026
                            • Impact of higher interest rates on hotel values
                                • Figure 10: Cap rates* vs. 10-year US treasury bond yields**, 1994-2015
                              • Worldwide hotel supply
                                • Figure 11: Estimated worldwide hotel supply, revenue & chain penetration by region, 2016
                            • Major Hotel Markets

                                • Figure 12: Number of hotels in selected country markets, 2014-20
                              • Australia
                                • Segmentation
                                  • Figure 13: Australia – travel accommodation: market segmentation by volume (number of establishments*), 2009-15
                                • Market shares
                                  • Figure 14: Australia – travel accommodation: hotel group market share by number of hotels, 2012-15
                                • Recent developments
                                  • Figure 15: Year-on-year increase in RevPAR*, 2010-year-to-date September 2016
                                • AccorHotels restructures lease portfolio
                                  • Brazil
                                    • Segmentation
                                      • Figure 16: Brazil – travel accommodation: market segmentation by volume (number of establishments*), 2011-15
                                    • Market shares
                                      • AccorHotels
                                        • Atlantica Hotels
                                          • Figure 17: Brazil – travel accommodation: hotel group market share by number of hotels, 2014-15
                                        • Recent developments
                                          • Canada
                                            • Segmentation
                                              • Figure 18: Brazil – travel accommodation: market segmentation by volume (number of establishments*), 2010-15
                                            • Market shares
                                              • Figure 19: Canada – travel accommodation: hotel group market share by number of hotels, 2012-15
                                            • Recent developments
                                              • A boom in hotel deals in Canada indicate another big year
                                                • Foreign investment
                                                  • Major markets
                                                    • China
                                                      • Segmentation
                                                        • Figure 20: China – travel accommodation: market segmentation by volume (number of establishments*), 2012-15
                                                      • Market shares
                                                        • Figure 21: China – travel accommodation: hotel group market share by number of hotels, 2012-15
                                                      • Leading chains in China
                                                        • Figure 22: Chinese hotel-chain market shares (% of graded hotels), 2015
                                                      • Recent developments
                                                        • China’s hotel pipeline continues to decline
                                                          • Colombia
                                                            • Segmentation
                                                              • Figure 23: Colombia – travel accommodation: market segmentation by volume (number of establishments*), 2009-15
                                                            • Market shares
                                                              • Figure 24: Colombia – travel accommodation: hotel group market share by number of hotels, 2012-15
                                                            • Recent developments
                                                              • A new-build Hilton for Bogota
                                                                • France
                                                                  • Segmentation
                                                                    • Figure 25: France – travel accommodation: market segmentation by volume (number of establishments*), 2010-15
                                                                  • Market shares
                                                                    • Figure 26: France – hotel group market share ranked by number of hotels, 2012-15
                                                                    • Figure 27: Ranking of integrated hotel chains in France by room capacity, 2016
                                                                  • Recent developments
                                                                    • Germany
                                                                      • Segmentation
                                                                        • Figure 28: Germany – travel accommodation: market segmentation by volume (number of establishments*), 2009-15
                                                                      • Market shares
                                                                        • Figure 29: Germany – travel accommodation: hotel group market share by number of hotels, 2012-15
                                                                      • Recent developments
                                                                        • Hotel investments set another record
                                                                          • Secondary locations in high demand
                                                                            • India
                                                                              • Segmentation
                                                                                • Figure 30: India – travel accommodation: market segmentation by volume (number of establishments*), 2009-15
                                                                              • Market shares
                                                                                • Figure 31: India – travel accommodation: hotel group market share by number of hotels, 2012-15
                                                                              • Recent developments
                                                                                • International brands are taking over
                                                                                  • Big expansion plans
                                                                                    • Chinese buy into India
                                                                                      • Indonesia
                                                                                        • Segmentation
                                                                                          • Figure 32: Indonesia – travel accommodation: market segmentation by volume (number of establishments*), 2009-15
                                                                                        • Market shares
                                                                                          • Figure 33: Indonesia – travel accommodation: hotel group market share by number of hotels, 2012-15
                                                                                        • Recent developments
                                                                                          • Waldorf Astoria Bali
                                                                                            • Italy
                                                                                              • Segmentation
                                                                                                • Figure 34: Italy – travel accommodation: market segmentation by volume (number of establishments*), 2009-15
                                                                                              • Market shares
                                                                                                • Figure 35: Italy – travel accommodation: hotel group market share by number of hotels, 2011-15
                                                                                              • Recent developments
                                                                                                • Figure 36: Hotel investment volume in Italy 2011, YTD Q3 2016
                                                                                              • Investors come to Italy by default
                                                                                                • Becoming more realistic?
                                                                                                  • No distressed asset bonanza
                                                                                                    • Milan hotel market
                                                                                                      • Figure 37: Recent hotel openings & pipeline in Milan, 2017
                                                                                                    • Rome hotel market
                                                                                                      • Figure 38: Recent hotel openings & pipeline in Rome, 2017
                                                                                                    • Japan
                                                                                                      • Segmentation
                                                                                                        • Figure 39: Japan – travel accommodation: market segmentation by volume (number of establishments*), 2009-15
                                                                                                      • Market shares
                                                                                                        • Figure 40: Japan – travel accommodation: hotel group market share by number of hotels, 2012-15
                                                                                                      • Recent developments
                                                                                                        • Figure 41: Trend in occupancy rate, ryokans vs. limited-service hotels, 2011-15
                                                                                                      • Government support for ryokans
                                                                                                        • Effort to rebalance incoming tourism
                                                                                                          • Mexico
                                                                                                            • Segmentation
                                                                                                              • Figure 42: Mexico – travel accommodation: market segmentation by volume (number of establishments*), 2009-15
                                                                                                            • Market shares
                                                                                                              • Figure 43: Mexico – travel accommodation: hotel group market share by number of hotels, 2014-15
                                                                                                            • Recent developments
                                                                                                              • Hilton’s rapid expansion
                                                                                                                • Nine more added to pipeline
                                                                                                                  • Russia
                                                                                                                    • Segmentation
                                                                                                                      • Figure 44: Russia – travel accommodation: market segmentation by volume (number of hotels*), 2009-15
                                                                                                                    • Market shares
                                                                                                                      • Figure 45: Russia – travel accommodation: hotel group market share by number of hotels, 2012-15
                                                                                                                    • Recent developments
                                                                                                                      • South Africa
                                                                                                                        • Segmentation
                                                                                                                          • Figure 46: South Africa – travel accommodation: market segmentation by volume (number of establishments*), 2009-15
                                                                                                                        • Market shares
                                                                                                                          • Figure 47: South Africa – travel accommodation: hotel group market share by number of hotels, 2014-15
                                                                                                                        • Recent developments
                                                                                                                          • Figure 48: Key performance data for hotels in South Africa, 2012-20
                                                                                                                        • Pipeline and recent openings
                                                                                                                          • South Korea
                                                                                                                            • Figure 49: South Korea’s top 10 inbound source markets, 2015-16
                                                                                                                          • Segmentation
                                                                                                                            • Figure 50: South Korea – travel accommodation: market segmentation by volume (number of establishments*), 2009-15
                                                                                                                          • Market shares
                                                                                                                            • Figure 51: South Korea – travel accommodation: hotel group market share by number of hotels, 2011-15
                                                                                                                          • Recent developments
                                                                                                                            • Spain
                                                                                                                              • Figure 52: Trend in incoming tourist arrivals in Spain, 2007-15
                                                                                                                            • Segmentation
                                                                                                                              • Figure 53: Spain – travel accommodation: market segmentation by volume (number of establishments*), 2009-15
                                                                                                                            • Market shares
                                                                                                                              • Figure 54: Spain – travel accommodation: hotel group market share by number of hotels, 2013-15
                                                                                                                            • Recent developments
                                                                                                                              • Hotel performance on the upswing
                                                                                                                                • Figure 55: Trend in Spanish hotel performance, 2007-15
                                                                                                                              • Major urban markets
                                                                                                                                • Figure 56: Spain’s major urban hotel markets ranked by RevPAR, 2014-15
                                                                                                                              • Barcelona is supply constrained
                                                                                                                                • Pipeline
                                                                                                                                  • Figure 57: Barcelona pipeline, September 2016
                                                                                                                                • Madrid is also interesting
                                                                                                                                  • Figure 58: Madrid pipeline, September 2016
                                                                                                                                • Other cities
                                                                                                                                  • Major resort markets
                                                                                                                                    • Figure 59: Spain’s major resort hotel markets ranked by RevPAR, 2014-15
                                                                                                                                  • Málaga the ‘new Barcelona’?
                                                                                                                                    • Turkey
                                                                                                                                      • Segmentation
                                                                                                                                        • Figure 60: Turkey – travel accommodation: market segmentation by volume (number of establishments*), 2010-15
                                                                                                                                      • Market shares
                                                                                                                                        • Figure 61: Turkey – travel accommodation: hotel group market share by number of hotels, 2014-15
                                                                                                                                      • Recent developments
                                                                                                                                        • UK
                                                                                                                                          • Segmentation
                                                                                                                                            • Figure 62: UK – travel accommodation: market segmentation by volume (number of establishments*), 2014-15
                                                                                                                                          • Market shares
                                                                                                                                            • Figure 63: UK – travel accommodation: hotel group market share by number of hotels, 2011-15
                                                                                                                                          • Recent developments
                                                                                                                                            • Whitbread plans 100,000 more rooms
                                                                                                                                                • Figure 64: UK hotel market by segment (% share of rooms), 2010-20
                                                                                                                                              • US
                                                                                                                                                • Segmentation
                                                                                                                                                  • Figure 65: US – travel accommodation: market segmentation by number of establishments* (000), 2008-15
                                                                                                                                                • Market shares
                                                                                                                                                  • Figure 66: US – travel accommodation: hotel group market share by number of hotels, 2012-15
                                                                                                                                                • Leading hotel chains in the US
                                                                                                                                                  • Figure 67: Leading hotel groups in the US ranked by number of rooms, June 2015
                                                                                                                                                • Recent developments
                                                                                                                                                  • Weaker growth in international and business travel
                                                                                                                                                    • US hotel pipeline at December 2016
                                                                                                                                                      • Figure 68: US pipeline by chain scale segment (number of rooms % change), December 2016 vs. December 2015
                                                                                                                                                    • Top markets for new hotel openings in 2017
                                                                                                                                                      • Figure 69: Leading markets for the opening of new rooms & hotels in 2017, December 2016
                                                                                                                                                    • Vietnam
                                                                                                                                                      • Segmentation
                                                                                                                                                        • Figure 70: Vietnam – travel accommodation: market segmentation by volume (number of establishments*), 2011-15
                                                                                                                                                      • Market shares
                                                                                                                                                        • Figure 71: Vietnam – travel accommodation: hotel group market share by number of hotels, 2012-15
                                                                                                                                                      • Recent developments
                                                                                                                                                        • Bright prospects for hospitality sector but caution is warranted
                                                                                                                                                          • Dream Hotel Group to enter Vietnam
                                                                                                                                                          • Hotel Cycle Peaking in North America?

                                                                                                                                                            • Hotels Confront the Sharing Economy

                                                                                                                                                                • Hotel associations react
                                                                                                                                                                  • Enforcement of regulations is difficult
                                                                                                                                                                    • Figure 72: Weekly number of Airbnb listings in Berlin, 2015-16
                                                                                                                                                                  • Room Mate embraces the sharing economy
                                                                                                                                                                    • Only the best are chosen
                                                                                                                                                                      • Location and booking
                                                                                                                                                                        • Hotel services on tap
                                                                                                                                                                          • The way forward?
                                                                                                                                                                          • Hotel Loyalty Schemes Combat OTAs

                                                                                                                                                                              • AccorHotels moves to attract direct bookings
                                                                                                                                                                                • Le Club discounts
                                                                                                                                                                                  • IHG’s lowest price guarantee
                                                                                                                                                                                    • Figure 73: IHG’s channel revenue contribution (% breakdown), 2015
                                                                                                                                                                                    • Figure 74: IHG’s direct online revenue booked (US$bn), 2011-15
                                                                                                                                                                                  • IHG Rewards Club exclusive rates
                                                                                                                                                                                    • Hilton’s ‘Stop Clicking Around’ campaign
                                                                                                                                                                                      • Hilton’s video ad campaign
                                                                                                                                                                                        • Hilton claims gains from direct booking
                                                                                                                                                                                          • Marriott’s direct booking campaigns
                                                                                                                                                                                            • Beyond lower rates …
                                                                                                                                                                                              • Hyatt promotes direct booking too …
                                                                                                                                                                                                • Choice follows suit …
                                                                                                                                                                                                  • OTAs should charge less
                                                                                                                                                                                                    • The OTAs react and threaten ...
                                                                                                                                                                                                      • OTA business model to evolve?
                                                                                                                                                                                                        • Direct booking campaigns concern a good portion of industry
                                                                                                                                                                                                          • Dimming abandoned
                                                                                                                                                                                                          • Brand Proliferation

                                                                                                                                                                                                              • Development considerations a major factor
                                                                                                                                                                                                                • Will they all succeed?
                                                                                                                                                                                                                  • Impact on hotel owners
                                                                                                                                                                                                                  • Chinese Brands on the Rise

                                                                                                                                                                                                                      • Wanda switches to its own brands
                                                                                                                                                                                                                        • Overseas expansion too
                                                                                                                                                                                                                        • Rising Political Uncertainty

                                                                                                                                                                                                                            • Brexit impact
                                                                                                                                                                                                                              • Figure 75: Sterling down 17% against the US Dollar, 2016
                                                                                                                                                                                                                            • Weak Pound boosts UK hotels
                                                                                                                                                                                                                              • Regions take the lead
                                                                                                                                                                                                                                • Figure 76: UK Hotel performance, provinces vs. London, 2015, 2016 & 2017
                                                                                                                                                                                                                              • Resort hotels booming
                                                                                                                                                                                                                                • And now the downside
                                                                                                                                                                                                                                  • Labour to be a problem
                                                                                                                                                                                                                                    • Development costs to rise
                                                                                                                                                                                                                                      • Brexit impact on foreign hotel markets
                                                                                                                                                                                                                                        • Figure 77: Forecast for UK – the change in arrivals in selected destinations, 2017
                                                                                                                                                                                                                                      • Exposed cities
                                                                                                                                                                                                                                        • Figure 78: UK arrivals in selected city destinations, 2015
                                                                                                                                                                                                                                      • Uncertainty under Trump
                                                                                                                                                                                                                                        • Less regulation to help the bottom line
                                                                                                                                                                                                                                          • Looser banking regulations to spur development
                                                                                                                                                                                                                                            • US hotel values already declining
                                                                                                                                                                                                                                              • Labour force could be a problem
                                                                                                                                                                                                                                                • DACA
                                                                                                                                                                                                                                                  • NAFTA withdrawal implications
                                                                                                                                                                                                                                                    • Increased enforcement
                                                                                                                                                                                                                                                      • Eliminating illegal workers to push up costs
                                                                                                                                                                                                                                                        • Political risk in Europe overestimated
                                                                                                                                                                                                                                                        • Top Ten Hotel Chains Worldwide

                                                                                                                                                                                                                                                              • Figure 79: Top 10 hotel chains ranked by number of rooms, 2016
                                                                                                                                                                                                                                                              • Figure 80: Change in the number of branded rooms by top 10 hotel groups in 2015
                                                                                                                                                                                                                                                            • 1.4 million rooms in the pipeline
                                                                                                                                                                                                                                                              • Leading hotel chains in Europe
                                                                                                                                                                                                                                                                • Figure 81: European hospitality companies by number of rooms at 1 January 2016*
                                                                                                                                                                                                                                                              • Leading hotel brands in Europe
                                                                                                                                                                                                                                                                • Figure 82: European hotel brands by number of rooms at 1 January 2016*
                                                                                                                                                                                                                                                            • Marriott International

                                                                                                                                                                                                                                                                • SWOT analysis
                                                                                                                                                                                                                                                                  • Brand portfolio
                                                                                                                                                                                                                                                                    • Figure 83: Marriott’s 30 brands by category, 2016
                                                                                                                                                                                                                                                                  • Luxury
                                                                                                                                                                                                                                                                    • St. Regis
                                                                                                                                                                                                                                                                      • Ritz-Carlton
                                                                                                                                                                                                                                                                        • Bulgari Hotels & Resorts
                                                                                                                                                                                                                                                                          • EDITION Hotels
                                                                                                                                                                                                                                                                            • W Hotels
                                                                                                                                                                                                                                                                              • JW Marriott Hotels & Resorts
                                                                                                                                                                                                                                                                                • The Luxury Collection Hotels & Resorts
                                                                                                                                                                                                                                                                                  • Upper upscale
                                                                                                                                                                                                                                                                                    • Le Meridien Hotels & Resorts
                                                                                                                                                                                                                                                                                      • Renaissance Hotels
                                                                                                                                                                                                                                                                                        • Westin Hotels & Resorts
                                                                                                                                                                                                                                                                                          • Tribute Portfolio
                                                                                                                                                                                                                                                                                            • Sheraton Hotels & Resorts
                                                                                                                                                                                                                                                                                              • Marriott Hotels
                                                                                                                                                                                                                                                                                                • Autograph Collection
                                                                                                                                                                                                                                                                                                  • Design Hotels
                                                                                                                                                                                                                                                                                                    • Marriott Executive Apartments
                                                                                                                                                                                                                                                                                                      • Delta Hotels & Resorts
                                                                                                                                                                                                                                                                                                        • Upscale
                                                                                                                                                                                                                                                                                                          • AC Hotels by Marriott
                                                                                                                                                                                                                                                                                                            • Aloft
                                                                                                                                                                                                                                                                                                              • Element
                                                                                                                                                                                                                                                                                                                • Gaylord Hotels
                                                                                                                                                                                                                                                                                                                  • SpringHill Suites
                                                                                                                                                                                                                                                                                                                    • Courtyard by Marriott
                                                                                                                                                                                                                                                                                                                      • Four Points by Sheraton
                                                                                                                                                                                                                                                                                                                        • Residence Inn by Marriott
                                                                                                                                                                                                                                                                                                                          • Midscale
                                                                                                                                                                                                                                                                                                                            • Fairfield Inn & Suites
                                                                                                                                                                                                                                                                                                                              • Moxy Hotels
                                                                                                                                                                                                                                                                                                                                • Protea Hotels by Marriott
                                                                                                                                                                                                                                                                                                                                  • TownePlace Suites
                                                                                                                                                                                                                                                                                                                                    • Timeshare
                                                                                                                                                                                                                                                                                                                                      • Marriott Vacation Club
                                                                                                                                                                                                                                                                                                                                        • Grand Residences by Marriott
                                                                                                                                                                                                                                                                                                                                          • The Ritz-Carlton Destination Club
                                                                                                                                                                                                                                                                                                                                            • Loyalty programme relationship
                                                                                                                                                                                                                                                                                                                                              • Managing the brand portfolio
                                                                                                                                                                                                                                                                                                                                                • Marriott has a good track record
                                                                                                                                                                                                                                                                                                                                                  • Accent on Aloft and Element
                                                                                                                                                                                                                                                                                                                                                    • Recent developments
                                                                                                                                                                                                                                                                                                                                                      • Integrating loyalty schemes a top priority
                                                                                                                                                                                                                                                                                                                                                        • Owner issues
                                                                                                                                                                                                                                                                                                                                                          • Positive aspects for owners
                                                                                                                                                                                                                                                                                                                                                            • Marriott’s Luxury Brands Group
                                                                                                                                                                                                                                                                                                                                                              • Growth in Marriott’s luxury portfolio
                                                                                                                                                                                                                                                                                                                                                              • Hilton

                                                                                                                                                                                                                                                                                                                                                                  • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                    • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                      • Figure 84: Hilton’s brand portfolio by share of existing rooms & pipeline, August 2016
                                                                                                                                                                                                                                                                                                                                                                    • Luxury
                                                                                                                                                                                                                                                                                                                                                                      • Waldorf Astoria Hotels & Resorts
                                                                                                                                                                                                                                                                                                                                                                        • Conrad Hotels & Resorts
                                                                                                                                                                                                                                                                                                                                                                          • Upper upscale
                                                                                                                                                                                                                                                                                                                                                                            • Hilton
                                                                                                                                                                                                                                                                                                                                                                              • Curio A Collection by Hilton
                                                                                                                                                                                                                                                                                                                                                                                • Embassy Suites by Hilton
                                                                                                                                                                                                                                                                                                                                                                                  • Upscale
                                                                                                                                                                                                                                                                                                                                                                                    • Canopy by Hilton
                                                                                                                                                                                                                                                                                                                                                                                      • Figure 85: Canopy’s pipeline, January 2017
                                                                                                                                                                                                                                                                                                                                                                                    • DoubleTree by Hilton
                                                                                                                                                                                                                                                                                                                                                                                      • Hilton Garden Inn
                                                                                                                                                                                                                                                                                                                                                                                        • Homewood Suites by Hilton
                                                                                                                                                                                                                                                                                                                                                                                          • Midscale/select service
                                                                                                                                                                                                                                                                                                                                                                                            • Hampton by Hilton
                                                                                                                                                                                                                                                                                                                                                                                              • Home2 Suites by Hilton
                                                                                                                                                                                                                                                                                                                                                                                                • Tru by Hilton
                                                                                                                                                                                                                                                                                                                                                                                                  • Timeshare
                                                                                                                                                                                                                                                                                                                                                                                                    • Hilton Grand Vacations
                                                                                                                                                                                                                                                                                                                                                                                                      • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                        • Sale of stake to HNA to be finalised soon
                                                                                                                                                                                                                                                                                                                                                                                                          • REIT and timeshare spun off
                                                                                                                                                                                                                                                                                                                                                                                                            • Reverse stock split
                                                                                                                                                                                                                                                                                                                                                                                                              • Park Hotels & Resorts
                                                                                                                                                                                                                                                                                                                                                                                                                • New brands on the way
                                                                                                                                                                                                                                                                                                                                                                                                                  • Hilton launches another soft brand
                                                                                                                                                                                                                                                                                                                                                                                                                    • Branding on the cheap
                                                                                                                                                                                                                                                                                                                                                                                                                      • Tapestry versus Curio
                                                                                                                                                                                                                                                                                                                                                                                                                        • A meticulously chosen brand name
                                                                                                                                                                                                                                                                                                                                                                                                                          • Tapestry Collection’s targeting an already crowded marketplace
                                                                                                                                                                                                                                                                                                                                                                                                                            • Hilton updates its loyalty programme
                                                                                                                                                                                                                                                                                                                                                                                                                              • Hilton Honors Points & Money slider
                                                                                                                                                                                                                                                                                                                                                                                                                                • Points Pooling
                                                                                                                                                                                                                                                                                                                                                                                                                                  • Amazon Shop with Points
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Diamond Status Extension
                                                                                                                                                                                                                                                                                                                                                                                                                                      • Loyalty is critical
                                                                                                                                                                                                                                                                                                                                                                                                                                      • InterContinental Hotels Group (IHG)

                                                                                                                                                                                                                                                                                                                                                                                                                                          • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                            • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                              • InterContinental
                                                                                                                                                                                                                                                                                                                                                                                                                                                • Kimpton
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Kimpton arrives in Europe
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Hotel Indigo
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Even
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • HUALUXE
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Crowne Plaza
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Holiday Inn
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Holiday Inn Express
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Holiday Inn Resort
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Holiday Inn Vacations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Staybridge Suites
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Candlewood Suites
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Wyndham Hotel Group

                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 86: Wyndham’s hotel capacity & performance by region, 2015
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 87: Wyndham's hotel portfolio by chain scale, 2013-15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 88: Wyndham’s hotel capacity by brand & region, 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Wyndham gets foothold in Latin America
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Jin Jiang

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 89: Jin Jiang’s hotel portfolio* by region & type, 31 December 2015
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Plateno Group
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Vienna Hotels Group
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Jin Jiang brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Louvre brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 90: Louvre Hotel Group’s portfolio by brand, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Plateno enters Vienna
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • AccorHotels

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 91: AccorHotels’ brand* portfolio by asset management structure, 31 December 2015
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 92: AccorHotels’ brand* portfolio by region, 31 December 2015
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Luxury and upscale
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Fairmont
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 93: Heritage Place & Fairmont Residences locations by country, 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Raffles Hotels & Resorts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Sofitel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Swissôtel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • MGallery by Sofitel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Pullman Hotels & Resorts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Grand Mercure
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The Sebel Hotels and Apartments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Midscale
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Novotel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Suite Novotel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Mercure
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Mama Shelter
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Adagio/Adagio Access
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Economy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • ibis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • ibis Styles
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • ibis budget
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • hotelF1
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Accor moves into luxury and alternative accommodation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • onefinestay
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Accor launches Jo & Joe
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Both Townsters and Tripsters targeted
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Accor buys into 25hours
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Accor to bring Mama Shelter and Jo & Joe to Asia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Accor acquires John Paul concierge services
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • A strategic partnership with Banyan Tree
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • AccorHotels creates lifestyle brands division
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • AccorHotels plans to spin off HotelInvest
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Choice Hotels International

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 94: Choice’s brand portfolio over the year ended 31 December 2015
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Cambria hotels and suites
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Ascend Hotel Collection
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Comfort Inn
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Comfort Suites
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Sleep Inn
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Clarion
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Quality
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • MainStay Suites
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Suburban Extended Stay Hotel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Econo Lodge
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Rodeway Inn
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Huazhu (China Lodging Group)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • BTG/Homeinns

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Homeinn
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Best Western

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Best Western
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Prototype specifications
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 95: Prototype specifications for a new-build Best Western hotel, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Best Western Executive Residency
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Best Western Plus
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Best Western Premier
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Best Western Premier Collection
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • GLō
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Vīb
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Prototype specifications
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 96: Prototype specifications for a new-build Vīb hotel, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • SureStay Hotels, Best Western’s new ‘white label’ franchise
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Developed in collaboration with the AAHOA
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Benefits for hoteliers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • TripAdvisor score an important criterion
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Incentives for initial members
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Industry Insight: Exclusive Interview with Sophie Perret, director HVS, London

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Industry Insight: Exclusive Interview with Mary Gostelow, editor/publisher of the Gostelow Report

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • What Next?

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • A blurring of the lines in the lodging sector
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • OTA rates to come down further
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Hotels by the hour
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Going mainstream
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Boosting revenue in a difficult environment
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Backed by AccorHotels founder

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Companies Covered

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          To learn more about the companies covered in this report please contact us.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          The International Hotel Industry - March 2017

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          US $1,935.88 (Excl.Tax)