Fusion & Acquisition

🏨 Les Aubergistes Lyonnais, founded by Loïc Renart and owned by Renart-Auroux family since 1966, expanded with Hôtel Simplon and Hôtel Phénix. Based in Lyon's historic districts, the hotels maintain high occupancy rates. The group, France's first mission-driven hotel company, is led by Loïc Renart, employs 75 staff, and generated €6.9 million in revenue last fiscal year. In 2009, Esprit de France, part of Compagnie Lebon, joined to enhance growth, leveraging their 13 Paris hotels and properties in Aix-en-Provence and Lens.

🏨 Hyatt Hotels Corporation to acquire Standard International, adding 21 hotels and over 2,000 rooms to its global portfolio. The deal, set to close later this year, will see a new lifestyle group created in New York, led by Amar Lalvani, Standard International's executive chairman. The acquired portfolio will be "asset-light," including management, franchise, and license agreements of establishments like The Standard in London and New York, and boutique hotels such as Hotel Saint Cecilia in Austin, Texas.

🏕 Marriott plans to add over 9,000 rooms to its portfolio later this year, targeting a net room growth of 6 to 6.5% for the whole year of 2024. Sonder's rooms will be integrated into Marriott's system over the next few years, generating royalties for Marriott based on a percentage of Sonder's gross room revenues. Sonder, founded in 2014, manages apartment-style accommodations and boutique hotels in urban markets across North America, Europe, and the Middle East, appealing to demographics including young travelers.

🎰 Pollet-Villard-Gaston (PVG) from Annecy will invest €9.5 million in the future casino of Pompadour, becoming their second casino after the Imperial Annecy. PVG hotels include the 5-star Au Cœur du Village, the 4-star Impérial Palace, Le Pélican, and Beauregard, as well as the 3-star Alpen Roc and Christiania. Construction is set to begin early next year with the opening scheduled for February 13, 2026. The casino will feature a restaurant, 75 slot machines, 20 English roulette stations, 10 electronic blackjack posts, and two traditional game tables.

🏀 France's basketball team lost to the USA led by NBA star Stephen Curry, who made four three-pointers in two minutes. McDonald's France humorously contemplated removing their curry sauce for "at least four years" in an Instagram post following the defeat. The joke garnered around 30,000 likes and CNN confirmed it was in jest referencing Saturday's game. Ironically, the curry sauce was already replaced by szechuan sauce ahead of the Paris 2024 Olympics.

💰 Founders Kevin Cohen, Julien Madar, and Joffrey Ichbia announced that Indian giant Oyo, supported by Softbank with over 17,000 hotels worldwide, acquired Checkmyguest. The company valuation is close to €100 million.

🍽 In California, the Michelin Guide's latest release on August 5 highlighted seven new 1-star and three new 2-star restaurants, with Aubergine in Carmel-by-the-Sea, Sons & Daughters in San Francisco, and Vespertine in Culver City each earning 2 stars, and Vespertine also receiving a Green Star. The state now boasts 84 starred restaurants, including six 3-star, thirteen 2-star, sixty-six 1-star, and sixteen Green Stars. Ten more establishments have been added to the Bib Gourmand list, totaling 132, and the 2024 selection features 577 establishments offering 60 different styles of cuisine.

🏠 The OCP increased its stake to become the majority shareholder of La Mamounia hotel, now holding more than 40%, while the National Railway Office (ONCF) reduced its share to under 10%. The deal is valued close to 159 million euros. In 2023, La Mamounia reported over 20 million euros in net profits (226 million dirhams).

🌍 Overcrowded beaches, streets, and long queues at tourist attractions are signs of overtourism. Despite rising travel costs, the World Tourism Organization (UNWTO) predicts record tourism for the season. McKinsey found that 66% of travelers are more inclined to travel now than before the COVID-19 pandemic. Overtourism is driven by the increasing demand for travel and the limited capacity of popular destinations. Lucerne, Switzerland, faces high volumes of day tourists, causing traffic jams without economic benefits of longer stays. Social media platforms like Instagram and TikTok contribute to overtourism, as seen in Hallstatt, Austria, which saw about 145,000 overnight stays last year. Travelers are avoiding popular destinations due to overcrowding, commercialization, and poor maintenance. Concerns over overtourism affect 61% in Spain, 49% in France, and 46% in Italy. Alternatives include traveling during the off-season or choosing less crowded destinations, as shown by a 2.2% and 3.0% increase in off-season tourist arrivals in Spain's Balearic Islands between 2016 and 2023. Valencia, Spain, saw a 9.8% increase in tourists in 2023 compared to 2019, particularly from January to April, with a 29.4% increase from 2019 to 2024.

📌 NUMA Group acquired 100% of Native Places, a short-stay division of Native Holdings, for an undisclosed sum. Native Places, headquartered in London, boasts over 800 units and is a pioneer in the UK aparthotel and serviced apartment sector. This acquisition aligns with NUMA's growth strategy in Europe, focusing on converting centrally located properties in major cities into digitized hotels. NUMA now manages over €2 billion in real estate assets, including more than 6,500 rooms and apartments across 34 cities in 14 European countries, set to increase to over 7,300 units with the addition of Native Places.