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1. Oyo completes G6 Hospitality acquisition
Oravel Stays, the parent company of India-based Oyo Hotels & Rooms, finalized its acquisition of G6 Hospitality from Blackstone Real Estate for $525 million, HNN's Sean McCracken reports. The deal was first announced in September.
Sonal Sinha, former chief financial officer for Oyo International and chief operating officer for Oyo Americas, has been appointed as CEO of G6 Hospitality. Julie Arrowsmith, former president and CEO of G6 Hospitality, will not be returning, along with the majority of G6's former executive team.
2. Hotel Equities will operate Postcard Cabins portfolio
Hotel Equities will operate the Postcard Cabins portfolio, which was acquired by Marriott International last week, HNN's Bryan Wroten reports. Postcard Cabins has 29 locations across the U.S. with more than 1,200 cabins.
Marriott plans to integrate the Postcard Cabins portfolio into its internal systems, booking platforms and loyalty program in 2025 to launch its outdoor-focused collection. Marriott also announced last week a long-term partnership with outdoor hospitality hotel brand Trailborn.
3. Blackstone picks up two Okinawa hotels
Private-equity firm Blackstone has acquired the 97-room Ritz-Carlton, Okinawa and the 169-room Kanehide Kise Beach Resort from Okinawa-based Kanehide Holdings Co. for 20 billion yen ($130 million), HNN's Terence Baker reports.
This continues a trend of investment in Japan's hotel industry, as Baker reported in November that strong tourism demand coupled with weaker currency values has been driving hotel transactions in the country.
4. Canada, EU respond to potential US tariffs
President-elect Donald Trump has promised to impose 25% tariffs on imports from Canada and up to 20% tariffs on imports from the European Union once he takes office next year. Both Canada and the EU are starting their preparation plans for these potential tariffs now, the Wall Street Journal reports.
Canada officials unveiled a plan that includes spending $1.3 billion Canadian dollars ($900 million) over a six-year span to improve border security through dogs, drones, helicopters, mobile-surveillance towers and additional border agents, the newspaper reports.
European Central Bank Chief Economist Philip Lane said on Wednesday that higher tariffs from the U.S. would weaken economic growth across the Eurozone, but its effect on inflation is up in the air. Lane said the tariffs would be "negative for output and the impact on inflation is uncertain."
5. UK inflation hits eight-month high
Inflation in the United Kingdom reached an eight-month high in November, rising by an annual rate of 2.6% in the month, Reuters reports. Consumer prices were down below the Bank of England's intended target of 2% as recent as September when it was at 1.7%.
"Another consecutive monthly rise in inflation, reaching its highest level since March, underscores the persistent price pressures within the UK economy," said Martin Sartorius, principal economist at the Confederation of British Industry.