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1. Kadoorie Family Acquires 200 Million Shares in Hong Kong & Shanghai Hotels
The family office of Sir Elly Kadoorie & Sons has agreed to acquire more than 200 million shares in Hong Kong & Shanghai Hotels at a purchase price of 12.80 Hong Kong dollars ($1.64) per share, which, according to Forbes, was almost double its closing price of 6.65 Hong Kong dollars per share on Jan. 14.
When the sale is completed, the Kadoorie family will hold 1,194,658,489 shares, or 72.43% of the total number of shares. Forbes added the $337 million deal bought out the shareholdings of Seekers Partners and other undisclosed sellers.
2. Ski Resorts Balance High Demand Against Labor Shortage
U.S. ski resorts this winter season are booming thanks to high demand, but staffing issues continue to resonate, reports HNN's Dana Miller.
Jonathan Fillman, general manager at The Little Nell in Aspen, Colorado, said his “occupancy pace for January, February and March are all exceeding pre-pandemic numbers from 2019,” a wonderful state of affairs shared by many other ski resorts, but those Miller spoke to said labor is their largest worry.
Fillman added staffing always is an issue in seasonal resorts and requires innovation, this year perhaps more than in others.
“The U.S. hit [its] H-2B cap last October, and as a result, we were unable to bring new H-2B employees from overseas. … However, H-2B employees already in the country could have an extension applied, if they so wished,” he said.
3. Ken Greene To Leave AAHOA
Just four months after having the interim tag lifted from his title as president and CEO of the Asian American Hotel Owners Association, former Radisson executive Ken Greene has announced he's departing the association for a position with IBF Hospitality in Dallas. In a news release announcing his planned departure, Greene indicated his new role will be "focused on potential acquisitions and building out a hospitality" real estate investment trust.
The search for Greene's replacement at AAHOA will begin immediately and his final day will be Feb. 11. Greene was named interim leader for the group in June before having the interim tag removed in September. He replaced Cecil P. Staton, who served as AAHOA president and CEO from 2019 to 2021.
4. UK Wages Fall Behind Inflation as Job Vacancies Hit Record High
According to the United Kingdom government’s official statistician, the Office for National Statistics, wages in the country are rising but not as quickly as inflation, which in November reached 5.1% and is expected to rise to 6% by spring.
The statistical body said that average weekly earnings adjusted for price rises have fallen for the first time since July 2020, with wages rising 3.8% between September and October, slower than the 4.3% rise recorded in the previous three months. At the same time, the statistical body said that job vacancies are at a record high of 1.24 million.
5. Pacific Asia Travel Association Provides Guidance On Net-Zero Carbon Hotels
The Pacific Asia Travel Association has unveiled guidance on new methodology regarding net-zero carbon-footprint hotels. The Bangkok-based organization has partnered with global hospitality, travel and tourism firms and bodies, such as the Sustainable Hospitality Alliance.
Its “Net Zero Methodology for Hotels” guidance, which it states is in line with agreements and methodology such as Science Based Targets Initiative, Race to Zero and the Glasgow Declaration, provides detailed guidance on how hotels can “approach the technical aspects of net zero, such as what should be included in Scope 1, 2 and 3 emissions, milestones to be reached by target years such as 2025, 2030 and 2040 and how to approach decarbonization through renewable energy.”