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The International Hotel Industry - September 2019

“Convergence is the way forward. Conventional hotel chains are entering the home-rental arena (for example Accor’s purchase of onefinestay and Marriott’s launching of Homes & Villas), as well as the hostel sector, as evidenced by Accor’s Jo&Joe brand and Hilton’s recent launching of Motto, a hybrid hotel concept that offers linking rooms. At the same time, accommodation-rental platforms are increasingly offering curated listings, which include basic hotel services. For instance, Airbnb has launched Airbnb Plus, a portfolio of selected accommodations that must meet a checklist of criteria and are personally inspected, and more recently has begun rolling out Airbnb lux, which offers highly curated luxury rentals.”
– Jessica Kelly, Senior Tourism Analyst

This report looks at the following areas:

  • What are the key issues facing the hotel industry now?
  • Which are the biggest hotel chains and what are their prospects?
  • What are the main trends regarding hotel distribution?
  • How are short-term accommodation-rental platforms impacting the hotel industry?
  • Which are the newest hotel brands?
  • What are the latest developments regarding M&A (mergers & acquisitions) in the hospitality sector?

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Table of contents

  1. Introduction

      • Key findings
      • Data Sources

        • Abbreviations

          • Issues in the Market

            • Brexit
              • Continued brand proliferation
                • Cybersecurity
                  • Human resources
                    • Rate parity
                      • Short-term rentals
                      • Global Summary

                          • Economic growth outlook
                            • Figure 1: World Economic Outlook projections (y-o-y % change, unless noted otherwise), July 2019
                          • Interest-rate forecast
                            • Figure 2: Outlook for interest rates as of 11 July 2019
                          • Exchange-rate forecast
                            • Figure 3: Outlook for exchange rates in 3 months & 12 months as of 17 July 2019
                          • Outlook for spending on travel and tourism
                            • Figure 4: Forecasted spending on travel & tourism by category for the world* (in nominal US$bn), 2018-23
                          • By major region
                            • APEC
                              • Figure 5: Forecasted spending on travel & tourism by category in APEC* (in nominal US$bn), 2018-23
                            • Caribbean
                              • Figure 6: Forecasted spending on travel & tourism by category in the Caribbean* (in nominal US$bn), 2018-23
                            • Central Asia
                              • Figure 7: Forecasted spending on travel & tourism by category in Central Asia* (in nominal US$bn), 2018-23
                            • Europe
                              • Figure 8: Forecasted spending on travel & tourism by category in Europe* (in nominal US$bn), 2018-23
                            • Latin America
                              • Figure 9: Forecasted spending on travel & tourism by category in Latin America* (in nominal US$bn), 2018-23
                            • Middle East
                              • Figure 10: Forecasted spending on travel & tourism by category in the Middle East* (in nominal US$bn), 2018-23
                            • Northern Africa
                              • Figure 11: Forecasted spending on travel & tourism by category in Northern Africa* (in nominal US$bn), 2018-23
                            • Northern America
                              • Figure 12: Forecasted spending on travel & tourism by category in North America* (in nominal US$bn), 2018-23
                            • North East Asia
                              • Figure 13: Forecasted spending on travel & tourism by category in North East Asia* (in nominal US$bn), 2018-23
                            • Oceania
                              • Figure 14: Forecasted spending on travel & tourism by category in Oceania* (in nominal US$bn), 2018-23
                            • South Asia
                              • Figure 15: Forecasted spending on travel & tourism by category in South Asia* (in nominal US$bn), 2018-23
                            • South East Asia
                              • Figure 16: Forecasted spending on travel & tourism by category in South East Asia* (in nominal US$bn), 2018-23
                            • Sub-Saharan Africa
                              • Figure 17: Forecasted spending on travel & tourism by category in Sub-Saharan Africa* (in nominal US$bn), 2018-23
                          • Hotel Supply Worldwide

                              • Figure 18: Trend in worldwide hotel capacity, 2014-17
                              • Figure 19: Room revenue by country/region, 2018 (%)
                              • Figure 20: Geographical distribution of worldwide hotel capacity by region, 31 December 2018
                            • Asia Pacific
                              • China
                                • Figure 21: Market volume of travel accommodation market, by market segments, China, 2012-22
                              • Low-grade hotel numbers declining
                                • Figure 22: Classified hotels by star grading, 2012-17
                              • Market shares of chains
                                • Figure 23: Top 10 Chinese hotel chains by number of rooms, 2016-17
                              • Midscale segment is booming in China
                                • Corporate demand driving hotel development in Pudong
                                  • Europe
                                    • Figure 24: Hotel capacity in 22 European countries, 2018
                                  • Chain penetration by country
                                    • Figure 25: Chain penetration in 22 European countries, 2018
                                  • France
                                    • Figure 26: French hotel room capacity by grade & region, 2019
                                    • Figure 27: Hotel capacity & overnights in French hotels by type, 2017
                                    • Figure 28: Top 10 hotel chains in France by room count, 2018
                                  • Germany
                                    • Figure 29: Number of graded hotels in Germany as of 1 January, 2008-19
                                    • Figure 30: German hotels by star grade, as of 1 January,2019
                                    • Figure 31: Top 10 hotel groups in Germany, 2018
                                  • Italy
                                    • Figure 32: Hotel capacity in Italy, 2017-18
                                    • Figure 33: Top 10 hotel groups in Italy, 2018
                                  • Spain
                                    • Figure 34: Hotels & inns by grade, 2010-17
                                    • Figure 35: Rooms in hotels & inns by grade, 2010-17
                                    • Figure 36: Beds in hotels & inns by grade, 2010-17
                                    • Figure 37: Top 10 hotel groups in Spain, 2018
                                  • UK
                                    • Figure 38: Top 10 hotel groups in the UK, 2018
                                  • Americas
                                    • US
                                      • Figure 39: Overview of the US hotel industry by chain scale & associated brands, 31 December 2018
                                      • Figure 40: Outlook for the US hotel industry, 14 May 2019
                                      • Figure 41: Chain scale outlook, percentage change from prior year forecasted, 2019-20
                                  • Brexit

                                      • Weakened Pound the main impact of Brexit
                                        • Brexit deadline at end October
                                          • Impact of a crash-out
                                            • UK government will not restrict movement of people or goods
                                              • Major concerns
                                                • The UK has sacrificed its reputation
                                                  • Labour is big issue
                                                    • Currency and costs
                                                      • Figure 42: Profit & loss key performance indicators – total UK (in £), 2018-19
                                                      • Figure 43: Profit & loss key performance indicators – total UK (in £), 2018-19
                                                  • Continued Brand Proliferation

                                                      • Filling in the gaps…
                                                        • What the big chain CEOs think
                                                          • Outside US things look different
                                                            • Chains becoming booking platforms
                                                              • New brands
                                                                • Accor
                                                                  • Tribe
                                                                    • Best Western
                                                                      • Aiden Hotel and Sadie Hotel
                                                                        • Choice Hotels
                                                                          • Deutsche Hospitality
                                                                            • Dusit International
                                                                              • Fujita Kanko
                                                                                • Hilton
                                                                                  • Motto
                                                                                    • Signia
                                                                                      • IHG
                                                                                        • Avid
                                                                                          • Voco
                                                                                            • Atwell Suites, IHG’s latest new flag
                                                                                              • Jumeirah Group
                                                                                                • Margaritaville Hotels & Resorts
                                                                                                  • Pilot Hotels
                                                                                                    • Premier Inn/Whitbread
                                                                                                      • Red Roof Inns
                                                                                                        • HomeTowne Studios by Red Roof
                                                                                                          • Red Collection
                                                                                                            • Starwood Capital
                                                                                                              • Vision Hospitality
                                                                                                                • Across from the Chattanooga Choo Choo
                                                                                                                  • Wanda Hotels & Resorts
                                                                                                                    • YOTEL
                                                                                                                    • Cybersecurity

                                                                                                                        • Sometimes hackers stay at the hotel
                                                                                                                          • Customers should take precautions
                                                                                                                            • Industry structure impedes security
                                                                                                                              • Separation of ownership and management
                                                                                                                                • Customer data a sensitive issue
                                                                                                                                  • Massive breach at Marriott
                                                                                                                                    • Hackers could have been a government
                                                                                                                                      • Impact of breach on Marriott
                                                                                                                                        • Marriott fined US$124 million by UK
                                                                                                                                          • Cost of data breach
                                                                                                                                          • Human Resources

                                                                                                                                              • Pay a bit more to retain staff
                                                                                                                                                • Key talent need to have ‘skin in the game’
                                                                                                                                                  • Treating employees with respect helps retain them
                                                                                                                                                    • Soft skills are critical for tourism and hospitality
                                                                                                                                                      • Hard skills vs. soft skills
                                                                                                                                                        • Figure 44: Hard skills vs. soft skills, 2019
                                                                                                                                                      • Emotional intelligence key factor
                                                                                                                                                        • Relation to tourism and hospitality
                                                                                                                                                          • Service recovery
                                                                                                                                                            • Can hotel schools ‘teach’ soft skills?
                                                                                                                                                              • Online employee reviews key to hiring
                                                                                                                                                                • Responding to reviews
                                                                                                                                                                  • Handling negative reviews
                                                                                                                                                                    • Legal considerations
                                                                                                                                                                      • Scandic allows video applications
                                                                                                                                                                        • Video applications replace classic applications
                                                                                                                                                                        • Rate Parity

                                                                                                                                                                            • Rate-parity clauses
                                                                                                                                                                              • Contracted vs. non-contracted OTAs
                                                                                                                                                                                • OTAs are undercutting significantly in Europe
                                                                                                                                                                                  • Figure 45: Undercutting direct rates by contracted vs. non-contracted OTAs in Europe*, Q2 2108
                                                                                                                                                                                • What can hotels do?
                                                                                                                                                                                  • Figure 46: OTAs ranked by the percentage of times* they undercut the direct channel in Europe**, Q2 2018
                                                                                                                                                                                • OTAs undercutting in the UK
                                                                                                                                                                                  • Figure 47: Undercutting direct rates by contracted vs. non-contracted OTAs in the UK, Q2 2108
                                                                                                                                                                                • AMOMA
                                                                                                                                                                                  • lol.travel
                                                                                                                                                                                    • Elvoline
                                                                                                                                                                                      • Figure 48: OTAs ranked by the percentage of times* they undercut the direct channel in the UK, Q2 2018
                                                                                                                                                                                    • North America
                                                                                                                                                                                      • Figure 49: Undercutting direct rates by contracted vs. non-contracted OTAs in North America, Q2 2108
                                                                                                                                                                                    • Hotel Power
                                                                                                                                                                                      • HotelTonight
                                                                                                                                                                                        • FINDHOTEL
                                                                                                                                                                                          • SnapTravel
                                                                                                                                                                                            • Half-bot half-human
                                                                                                                                                                                              • A fast-growing startup
                                                                                                                                                                                                • Figure 50: OTAs ranked by the percentage of times* they undercut the direct channel in North America, Q2 2018
                                                                                                                                                                                            • Short-Term Rentals

                                                                                                                                                                                                • Why do people stay in an Airbnb?
                                                                                                                                                                                                  • ‘Sharing’ aspect less important
                                                                                                                                                                                                    • Guttentag’s findings based on solid methodology
                                                                                                                                                                                                      • Airbnb customer profiles
                                                                                                                                                                                                        • Money savers
                                                                                                                                                                                                          • Home seekers
                                                                                                                                                                                                            • Collaborative consumers
                                                                                                                                                                                                              • Pragmatic novelty seekers
                                                                                                                                                                                                                • Interactive novelty seekers
                                                                                                                                                                                                                  • Airbnb’s two products
                                                                                                                                                                                                                    • Airbnb ups the ante
                                                                                                                                                                                                                      • Airbnb’s technology partnership with SiteMinder
                                                                                                                                                                                                                        • Airbnb has acquired HotelTonight
                                                                                                                                                                                                                          • Airbnb has made few acquisitions
                                                                                                                                                                                                                            • Airbnb growing serviced-accommodation listings rapidly
                                                                                                                                                                                                                              • Will Airbnb broaden its hotel listing criteria?
                                                                                                                                                                                                                                • Reconciling different commission structures
                                                                                                                                                                                                                                  • Airbnb could do with more curated approach
                                                                                                                                                                                                                                    • Loyalty-programme synergies
                                                                                                                                                                                                                                      • Impact on hotels, Booking.com and Expedia
                                                                                                                                                                                                                                        • Impact on Airbnb hosts
                                                                                                                                                                                                                                          • Airbnb goes upmarket with Luxe
                                                                                                                                                                                                                                            • Less peer to peer, more entire homes
                                                                                                                                                                                                                                              • 2,000 upmarket listings worldwide
                                                                                                                                                                                                                                                • “Unique and spectacular”
                                                                                                                                                                                                                                                  • Few properties are Airbnb exclusives
                                                                                                                                                                                                                                                    • Airbnb is not the only one…
                                                                                                                                                                                                                                                      • Booking.com’s short-term rentals
                                                                                                                                                                                                                                                        • Booking’s new products for professional property managers
                                                                                                                                                                                                                                                          • Expedia’s short-term rentals
                                                                                                                                                                                                                                                            • Moving from subscriptions to commissions
                                                                                                                                                                                                                                                              • Sonder offers amenity-driven peer-to-peer rentals
                                                                                                                                                                                                                                                                • A series of financing rounds support growth
                                                                                                                                                                                                                                                                  • Figure 51: Cities where Sonder has rentals, July 2019
                                                                                                                                                                                                                                                                • Tujia
                                                                                                                                                                                                                                                                  • Different from Airbnb
                                                                                                                                                                                                                                                                    • Trust is a big issue
                                                                                                                                                                                                                                                                      • Property management frequently outsourced
                                                                                                                                                                                                                                                                        • Vertically integrating the supply chain
                                                                                                                                                                                                                                                                          • Tujia is a consolidator
                                                                                                                                                                                                                                                                            • A more benign regulatory environment
                                                                                                                                                                                                                                                                              • Hotel industry reaction
                                                                                                                                                                                                                                                                                • Home-sharing not on menu at Hilton
                                                                                                                                                                                                                                                                                  • Hyatt cautious on home-sharing
                                                                                                                                                                                                                                                                                  • Mergers & Acquisitions

                                                                                                                                                                                                                                                                                      • Hostels targeted for investment
                                                                                                                                                                                                                                                                                        • BlackRock invests in hostels
                                                                                                                                                                                                                                                                                          • Consolidating a fragmented market
                                                                                                                                                                                                                                                                                            • Safestay on the move
                                                                                                                                                                                                                                                                                              • Looking to acquire small portfolios
                                                                                                                                                                                                                                                                                                • US hotel transactions hit post-crisis high
                                                                                                                                                                                                                                                                                                  • Generator acquires Freehand to support US growth
                                                                                                                                                                                                                                                                                                    • Goldman Sachs acquires B&B Hotels for €1.9 billion
                                                                                                                                                                                                                                                                                                      • Macdonald’s big asset sale
                                                                                                                                                                                                                                                                                                        • Minor snags NH
                                                                                                                                                                                                                                                                                                        • Branded Hotel Capacity

                                                                                                                                                                                                                                                                                                            • Figure 52: The top 5 Western hotel groups % share of rooms, 2012-18
                                                                                                                                                                                                                                                                                                        • Top Ten Integrated Hotel Chains

                                                                                                                                                                                                                                                                                                            • China, the centre of growth
                                                                                                                                                                                                                                                                                                              • Figure 53: The world’s biggest hotel chains ranked by number of branded rooms, 31 December 2018
                                                                                                                                                                                                                                                                                                          • Marriott International

                                                                                                                                                                                                                                                                                                              • SWOT analysis
                                                                                                                                                                                                                                                                                                                • Overview
                                                                                                                                                                                                                                                                                                                  • Company-operated hotels
                                                                                                                                                                                                                                                                                                                    • Host Hotels & Resorts a major owner
                                                                                                                                                                                                                                                                                                                      • Franchises, licences and JVs
                                                                                                                                                                                                                                                                                                                        • Residential developments
                                                                                                                                                                                                                                                                                                                          • Brand portfolio
                                                                                                                                                                                                                                                                                                                            • Luxury
                                                                                                                                                                                                                                                                                                                              • Premium
                                                                                                                                                                                                                                                                                                                                • Select
                                                                                                                                                                                                                                                                                                                                  • Marriott’s hotel capacity by region
                                                                                                                                                                                                                                                                                                                                    • Figure 54: Marriott’s hotel capacity by brand & region, year-end 2018
                                                                                                                                                                                                                                                                                                                                  • Recent developments
                                                                                                                                                                                                                                                                                                                                    • Loyalty scheme relaunched
                                                                                                                                                                                                                                                                                                                                      • Marriott has consolidated its three former schemes
                                                                                                                                                                                                                                                                                                                                        • Credit-card programmes
                                                                                                                                                                                                                                                                                                                                          • Mobile access
                                                                                                                                                                                                                                                                                                                                            • Reservation centres
                                                                                                                                                                                                                                                                                                                                              • Marriott redefining select-service in lifestyle context
                                                                                                                                                                                                                                                                                                                                                • Differing brand strategies
                                                                                                                                                                                                                                                                                                                                                  • Homes & Villas no threat to hotels
                                                                                                                                                                                                                                                                                                                                                    • Marriott has launched home rentals
                                                                                                                                                                                                                                                                                                                                                      • Broadening its service offering
                                                                                                                                                                                                                                                                                                                                                        • Scaling to be more difficult than Airbnb
                                                                                                                                                                                                                                                                                                                                                          • Host approves of Marriott’s rental programme
                                                                                                                                                                                                                                                                                                                                                            • Marriott plans to add 1,700 hotels by 2021
                                                                                                                                                                                                                                                                                                                                                              • Contribution from Starwood acquisition
                                                                                                                                                                                                                                                                                                                                                                • Sheraton upgrade
                                                                                                                                                                                                                                                                                                                                                                  • A fee-based asset-light business model
                                                                                                                                                                                                                                                                                                                                                                    • Projected financial results
                                                                                                                                                                                                                                                                                                                                                                    • Jin Jiang

                                                                                                                                                                                                                                                                                                                                                                        • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                          • Overview
                                                                                                                                                                                                                                                                                                                                                                            • On the acquisition trail
                                                                                                                                                                                                                                                                                                                                                                              • Radisson
                                                                                                                                                                                                                                                                                                                                                                                • Jin Jiang’s portfolio
                                                                                                                                                                                                                                                                                                                                                                                  • Figure 55: Jin Jiang’s hotel portfolio* by type & location, at 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                  • Full-service hotels
                                                                                                                                                                                                                                                                                                                                                                                    • Select-service hotels
                                                                                                                                                                                                                                                                                                                                                                                      • Figure 56: Jin Jiang’s hotel portfolio* by type & asset management structure, 31 December 2019
                                                                                                                                                                                                                                                                                                                                                                                    • Radisson Hospitality AB
                                                                                                                                                                                                                                                                                                                                                                                      • Figure 57: Radisson Hospitality AB’s portfolio & pipeline by region, brand & contract type, 30 June 2018 & 2019
                                                                                                                                                                                                                                                                                                                                                                                    • Pipeline
                                                                                                                                                                                                                                                                                                                                                                                      • Figure 58: Jin Jiang’s hotel pipeline* by type & asset management structure, 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                    • Performance
                                                                                                                                                                                                                                                                                                                                                                                      • Figure 59: Performance of Jin Jiang’s hotel by type, 2018
                                                                                                                                                                                                                                                                                                                                                                                    • Owned full-service hotel performance
                                                                                                                                                                                                                                                                                                                                                                                      • Figure 60: Performance of Jin Jiang’s full-service hotels in Shanghai, 2017-18
                                                                                                                                                                                                                                                                                                                                                                                    • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                      • Jin Jiang and Radisson co-branding
                                                                                                                                                                                                                                                                                                                                                                                      • Hilton

                                                                                                                                                                                                                                                                                                                                                                                          • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                            • Overview
                                                                                                                                                                                                                                                                                                                                                                                              • Performance
                                                                                                                                                                                                                                                                                                                                                                                                • Figure 61: Hilton’s hotel performance by county/region, 2018
                                                                                                                                                                                                                                                                                                                                                                                              • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 62: Hilton’s brand portfolio* at 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                                • Becoming essentially a franchisor
                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 63: Hilton’s portfolio, by type, brand & region, 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                                • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                  • Hilton to open seven more luxury hotels in 2019
                                                                                                                                                                                                                                                                                                                                                                                                    • 25 additional properties by 2025
                                                                                                                                                                                                                                                                                                                                                                                                      • Hilton’s luxury growth strategy
                                                                                                                                                                                                                                                                                                                                                                                                        • Building up services for the luxury segment
                                                                                                                                                                                                                                                                                                                                                                                                          • Canopy expanding
                                                                                                                                                                                                                                                                                                                                                                                                            • Canopy coming to Africa
                                                                                                                                                                                                                                                                                                                                                                                                              • Two new brands in pipeline
                                                                                                                                                                                                                                                                                                                                                                                                                • Hilton Honors’ membership growing
                                                                                                                                                                                                                                                                                                                                                                                                                  • Hilton downgrades RevPAR outlook for 2019
                                                                                                                                                                                                                                                                                                                                                                                                                  • IHG (InterContinental Hotels Group)

                                                                                                                                                                                                                                                                                                                                                                                                                      • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                        • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                          • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                            • Mainstream
                                                                                                                                                                                                                                                                                                                                                                                                                              • Holiday Inn
                                                                                                                                                                                                                                                                                                                                                                                                                                • Holiday Inn Express
                                                                                                                                                                                                                                                                                                                                                                                                                                  • Holiday Inn Club Vacations
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Candlewood Suites
                                                                                                                                                                                                                                                                                                                                                                                                                                      • Staybridge Suites
                                                                                                                                                                                                                                                                                                                                                                                                                                        • avid hotels
                                                                                                                                                                                                                                                                                                                                                                                                                                          • Upscale
                                                                                                                                                                                                                                                                                                                                                                                                                                            • Crowne Plaza
                                                                                                                                                                                                                                                                                                                                                                                                                                              • voco Hotels
                                                                                                                                                                                                                                                                                                                                                                                                                                                • EVEN Hotels
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • HUALUXE Hotels and Resorts
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Hotel Indigo
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Luxury
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • InterContinental
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Kimpton Hotels & Restaurants
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Regent
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • IHG’s capacity by brand
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 64: IHG’s hotel capacity by brand, 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • IHG has acquired Six Senses
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Six Senses resorts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 65: Six Senses Hotels Resorts, July 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Spas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 66: Six Senses spas, July 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Six Senses Hotels to build its own brand within IHG
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Integration into IHG
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Wyndham Hotel Group

                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 67: Wyndham’s hotels by country/region, 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 68: Wyndham’s hotel portfolio by industry segment, 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 69: Wyndham’s hotel capacity at 31 December, 2018, 2017 & 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Wyndham Rewards
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Economy brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 70: Wyndham’s economy brand capacity by country/region, 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Midscale brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 71: Wyndham’s midscale brand capacity by country/region, 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Extended-stay, lifestyle and upscale brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Trademark Hotel Collection
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 72: Wyndham’s extended-stay, lifestyle & upscale brand capacity by country/region, 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Wyndham Hotels spun-off
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • The La Quinta acquisition
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Wyndham’s China push
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • La Quinta acquisition drives growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • La Quinta driving growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • 2019 outlook downgraded
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Wyndham exits management contracts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Accor

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 73: Accor’s hotel capacity breakdown by region, at year-end 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Sale of AccorInvest stake boosted 2018 net income
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Expanding and moving upscale
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 74: Percentage of Accor rooms by category, medium-term objective, 2012 & 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Luxury
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Raffles
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Orient Express
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Banyan Tree
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Delano
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Sofitel Legend
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Fairmont
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • SLS
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • SO Hotels
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Sofitel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The House of Originals
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Rixos hotels
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • onefinestay
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Premium brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Mantis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • MGallery
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • 21c Museum Hotels
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Art Series
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Mondrian
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Pullman
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Swissôtel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Angsana
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • 25hours
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Mövenpick
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Hyde hotels
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Grand Mercure
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Peppers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The Sebel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Midscale brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Mantra
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Novotel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Mercure
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Adagio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Mama Shelter
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Tribe
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Economy brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • BreakFree
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • ibis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • ibis Styles
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • ibis budget
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Jo&Joe
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • hotelF1
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Operating structure
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 75: Hotel portfolio by brand & operating structure at 31 December, 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Accor’s portfolio by region
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 76: Hotel portfolio by region & brand at 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Accor, InterGlobe JV in India
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Accor’s push in Asia Pacific
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Accor’s pipeline heavily weighted to Asia Pacific
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 77: Accor’s pipeline by region, number of hotel projects, 30 June 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 78: Timing of future Accor hotel openings, 30 June 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Choice Hotels

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Cambria Hotels
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Ascend Hotel Collection
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Comfort Inn & Comfort Suites
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Sleep Inn
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Clarion
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Clarion Pointe
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Demand from owners and developers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Clarion Pointe is a “conversion brand”
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Contemporary design touches
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Quality
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • MainStay Suites
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Suburban Extended Stay Hotel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • WoodSpring Suites
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Econo Lodge
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Rodeway Inn
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Choice’s brand portfolio and pipeline
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 79: Choice’s worldwide portfolio & pipeline by brand, 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Franchising fees
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 80: Choice’s standard franchise fees by brand as of 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Choice’s strategic relationship with AMResorts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Choice to expand in South East Asia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • OYO Hotels & Homes

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Business model
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Is OYO an aggregator or a franchisor?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • OYO’s revenue stream
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • OYO Rooms
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • OYO Townhouse
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Studio Stays
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Events and other services
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Rapid expansion
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 81: OYO’s portfolio & business activities, 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • OYO has overtaken IHG as world’s third-largest chain
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • China Lodging Group (Huazhu)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Accor and Huazhu strategic alliance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Accor brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 82: Huazhu’s portfolio by affiliation structure & performance, Q1 2018-Q1 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 83: Huazhu’s hotel portfolio by brand, 2014-19
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Note: n/a = not applicable
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Source: Huazhu Group 2018 20F report
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 84: Huazhu’s hotel portfolio by branded rooms, 2014-19
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Hotel development
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 85: Hotels & pipeline by location & affiliation structure, 31 December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • BTG Homeinns Hotels

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • SWOT analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Brand portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Homeinn
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Homeinnplus
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Yitel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Fairyland Hotel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • UrCove
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Hyatt and Homeinns’ strategic JV
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Hyatt already has significant Chinese presence
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Industry Insight: Exclusive Interview with Sophie Perret, director, HVS London

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • What Next?

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • A downturn coming?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Convergence is way forward
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Convergence is a necessity
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Room Mate
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UnderTheDoormat offers curated rentals

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              The International Hotel Industry - September 2019

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              £1,495.00 (Excl.Tax)