When it comes to managing inventory, hotels have the daily challenge of selling as many hotel rooms as possible, at the most profitable rate, before the clock strikes midnight. Unsold nights are permanently lost revenue opportunities. This is why it is critical for Hotels to have an inventory management strategy that maximizes occupancy and revenue.
InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] today announced that it has agreed to acquire a 51% stake in Regent Hotels and Resorts for $39 million in cash. IHG will have the right to acquire the remaining 49% interest in a phased manner from 2026.
The 14-story hotel, which will operate under Curio Collection by Hilton in an agreement unveiled at MIPIM, includes a 22.5 million investment led by Yvon Gérard and a consortium of investors.
London reported hotel occupancy decreased 0.4% to 77.3% in February, according to preliminary data from STR. ADR rose 1.2% to 133.84 ($185.96) and RevPAR increased 0.8% to 103.48 ($143.78).