Choice Hotels completes acquisition of Radisson in the Americas

Choice Hotels International has completed the purchase of Radisson Hotels Americas’ franchise business, operations, intellectual property and three owned hotels for approximately $675 million from Radisson Hotel Group. With this transaction, Choice adds 624 hotels and 68,000 rooms across the US, Canada, Latin America and the Caribbean to its portfolio and nine global brands onto its existing 14 brands. Choice will independently own and control the brands while also working alongside Radisson Hotel Group to drive growth and continuity for the brands globally.

IHG announces a £414 million share buyback and increased dividend

nterContinental Hotels Group has reported a £414 million (which converts to €490 million and $500 million respectively) share buyback programme and will increase its interim dividend payment to shareholders after its 2022 half-year profits more than doubled compared to 2021. The programme begins immediately and will end on January 31, 2023. Investors will receive an interim dividend of 43.9 cents per share, 10% higher than last paid in 2019. IHG shares are up 1.5% over the previous week. The group has benefited from increased average rates with strong demand from leisure travellers and increasing recovery in the business segment, notably in the UK and the Americas.

Coaching Inn acquires Jamaica Inn in Cornwall UK

The historic 36-room Jamaica Inn in England’s Cornwall county has been sold by Surrey-based businessman Allen Jackson to the Coaching Inn Group for a reported £8 million (£222,000 per room). The hotel and pub consist of a restaurant, bar, farm shop, gift shop and two museums and is located 12 miles from the Devon/Cornwall border. During Jackson’s ownership over the last eight years, the property received substantial capital expenditure, expanding from 17 rooms to the current 36. This purchase by UK hotel group Coaching Inn is the latest in a series of acquisitions since being acquired by RedCat Pub Company in 2021.

Britannia purchases the Premier Inn Charing Cross in Glasgow from Whitbread

British group Britannia Hotels has acquired the 278-room limited-service Premier Inn Charing Cross in Glasgow, Scotland. The property was sold off a guide price of £8.5 million (£31,000 per room) and will change its name to Britannia Inn Glasgow following the sale. Britannia now owns 64 hotels across the UK. Seller Whitbread is the owner of the Premier Inn chain and is offloading this property to reconfigure its network of existing hotels in Glasgow’s city centre.

Alpha Real Trust acquires the Travelodge Wadebridge in Cornwall UK

Guernsey-based property finance investor, Alpha Real Trust, has acquired the 55-room limited-service Travelodge Wadebridge for £4.25 million (£77,000 per room). The hotel is leased to Travelodge Hotels Limited, with 20-years remaining on the lease with an inflation-linked passing rent of £250,000 per annum, reflecting a yield of 6.1%. The hotel is located in the outskirts of Wadebridge, six miles from Padstow, in the English county of Cornwall.

About HVS

HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.

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