The main Russian shareholder of TUI resigns: Alexey Mordashov, a shareholder in German tourism company TUI AG for around 15 years and currently the holder of 34% of the company’s share capital, resigned from the supervisory board after EU sanctions triggered by the war in Ukraine l deprived of access to its shareholding. TUI said the decision had no impact on the company, its customers or its employees. The purpose of the EU sanctions is to prevent Mordashov from selling his shares and realizing any proceeds or profit from his investment in TUI. The remaining 66% of shareholders are private and institutional investors from Germany, EU, UK and US


Xenia Hotels acquires W Nashville: Xenia Hotels & Resorts, Orlando, Florida, has agreed to acquire the 346-room W Nashville for $328.7 million ($950,000 per key). The hotel, which opened in October 2021, will mark Xenia’s 14th birthdayand real estate acquisition since the company’s listing on the New York Stock Exchange in 2015. The hotel is also the company’s 14th.and Hotel affiliated with Marriott. Xenia expects the hotel to generate $25-30 million in hotel EBITDA once stabilized. The transaction is expected to close by the end of the first quarter and the company expects to fund the acquisition with available cash. Xenia has 33 hotels, comprising 9,468 rooms in 13 states.

Charleston Place is transformed into an independent luxury hotel: The Charleston Place in Charleston, South Carolina, announced its transition from a Belmond property to a locally owned and operated independent luxury hotel. Charleston-based Beemok Hospitality Group has acquired the hotel and will lead a multi-year, US$100 million transformation. Architects and designers Pierre-Yves Rochon, Cooper Carry, LS3P and Rees Roberts + Partners will oversee the redesign of the lobby, courtyards, rooms and suites, spa, food outlets, meeting spaces and swimming pool. A new hotel logo has been designed, in collaboration with local branding agency SDCO Partners. The hotel partnered with floral design studio SYG Designs to transform the lobby and public areas. The property will remain open during the renovation, which will be completed in phases and is expected to start from early 2023.

Lyvinn to manage the hotel acquired by Blantyre in Frankfurt: Blantyre Capital Ltd., London, has agreed to acquire a 164-key hotel in Frankfurt, Germany, which will be renamed Lyvinn after renovations. Founded by Navneet Bali, Lyvinn Hybrid Hotels have flexible room structures combined with common areas such as coworking offices and social spaces for Lyv’s extended stays and short stays. Lyvinn plans to convert existing hotels/inns and repurpose buildings ranging from 3,500 to 12,000 square meters (100 to 350 rooms for existing hotels). Properties will include freehold/long-term land leases and operating leases.

Expedia stops sales to and from Russia: The Expedia Group and its vacation rental unit, Vrbo, have stopped offering trips to and from Russia due to Russia’s invasion of Ukraine. “We are saddened by what continues to unfold in Ukraine and will continue to do what we can to support impacted travellers, partners and our team members with their families and friends in affected areas,” Expedia said in a statement. a statement. The group is apparently the first travel company to take this approach, although other major online travel companies have not released a statement regarding their position. Although the Russia-Ukraine zone would not generate a significant volume of bookings for Expedia, the decision surprised some of its competitors. The German tour operator GetYourGuide has ceased its marketing activities in the region of Russia, Belarus and Ukraine. Although it has not yet blocked booking facilities for the area, it has made it impossible to book attractions and activities in the area. Flights to and from Russia can be booked on, while Airbnb allows bookings in St. Petersburg. Except for Google Pay, all other services offered by the search giant are available in Russia.

Russian invasion triggers immediate flight cancellations: Russia’s invasion of Ukraine led to an immediate increase in flight cancellations to and from Russia, the latest data from ForwardKeys has revealed. On February 25, the day after the invasion, every booking made for travel to Russia outnumbered six cancellations of pre-existing bookings. With 773% cancellations, Germany was the source market with the highest cancellation rate by volume, followed by France (472%), Italy (152%), UK (254%), India (285%) and Turkey (116%). Russia’s aggressive move against Ukraine has also caused a collapse in the Russian outbound travel market. The most affected destinations due to instant cancellation rates from February 24 to 26 were Cyprus (300%), Egypt (234%), Turkey (153%), the United Kingdom (153%), the Armenia (200%) and the Maldives. (165%). Prior to the outbreak of the war, Russian flight bookings abroad for March, April and May had recovered to 32% of pre-COVID levels. Until February 23, Russian domestic flight bookings for March, April and May were 25% above pre-COVID levels. New bookings, however, fell 77% week over week.

Stockdale acquires Los Angeles Los Angeles Athletic Club: Stockdale Capital Partners, Los Angeles, Calif., has acquired the Los Angeles Athletic Club in a deal completed on February 28. The acquisition also includes the adjacent Olive Park Garage, the structure to the right consisting of 421 parking spaces and 12,000 square feet of retail space. and offices, and a 114-space surface parking lot to the north. The 12-story, 186,000 square foot club features 72 rooms, 17,200 square feet of event space, an indoor pool, track, racquetball courts, basketball court, handball courts, spa and wellness facilities. The property has seen $2.93 million in capital investment since 2015.

CorePoint shareholders give the green light to the acquisition: CorePoint Lodging, Irving, Texas, announced that its shareholders had voted in favor of selling the company to a joint venture between subsidiaries of Highgate and Cerberus Capital Management. The deal is expected to close on Thursday, with Highgate and Cerberus buying all outstanding shares of CorePoint common stock in an all-cash transaction. the aggregate merger consideration payable will be $15.99 per share in cash (without interest and subject to applicable withholding taxes). CorePoint’s common stock will no longer be listed on the New York Stock Exchange and the company will be privately owned.

Kimpton Goodland changes its name: The Kimpton Goodland Goleta in Santa Barbara, California has been renamed The Leta. The 158-key hotel was acquired by AWH Partners in January. Spire Hospitality, AWH’s wholly owned hotel management company, is the new property management company. The hotel will be renovated to offer high-speed WiFi and streaming services, better bedding and a refreshed lobby. The hotel’s longtime general manager, Barry Dorsey, will continue in his role under the new owners.

Remington Hotels debuts in El Paso: Remington Hotels has taken over management of the 200-room DoubleTree by Hilton Hotel El Paso Downtown and the 151-room Courtyard El Paso Downtown/Convention Center, marking the company’s first properties in the El Paso area. Currently, Remington operates 86 hotels in 26 states across 17 brands, including 12 independent and boutique properties.

Wyndham launches the one month offer for members: From March 2 through April 3, the Wyndham Hotels & Resorts Loyalty Program will unveil surprise offers such as hotel discounts, bonus points And much more. Purchases will also come with a 40% bonus and consumers who join the rewards program during the promotional period will be eligible for all offers.

DidaTravel to develop hotels under direct management: DidaTravel, the global hotel wholesaler based in Shenzhen, China, has announced plans to double the number of hotels under direct contract by the end of the year, reaching 74,000 properties worldwide available to its customers, compared to 37,000 properties at the end of 2021. The company has a pipeline of more than 30 global hotel chains and more than 20,000 major hotels ready to go online this year. The company plans to achieve targeted growth over the next three years in the United Arab Emirates, United Kingdom, France, Italy, Thailand, Malaysia, Indonesia, Japan and Korea. DidaTravel works with over 23,000 travel purchasing customers and has a portfolio of over 37,000 direct hotel contracts and 700,000 hotel products supplied by over 600 global suppliers in over 200 countries and regions. In 2019, the company sold hotel reservations in China and Asia-Pacific for over US$700 million.