Hotel Performance

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Legislation

Supreme Court backs insurance claims

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The Supreme Court has upheld its judgement in favour of policyholders, on the Financial Conduct Authority’s business interruption insurance test case

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    Transactions
    The UK and Ireland were expected to lead distress-driven transactions this year, according to Whitebridge Hospitality.
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    Legislation
    The Chancellor’s economic update to the House of Commons was described as “disappointing” by John Webber, head of business rates, Colliers International.
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    Investment
    TUI Group has launched a rights issue to raise around €545m to pay down debt and strengthen the group’s liquidity position.
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    Transactions
    UK transactions dropped by 70% on the year in 2020, with the main drivers retirement sales, hotels sold for alternative use, non-core assets sold to bolster equity and non-alignment of shareholder interests.
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    United Kingdom
    Independent hotel businesses with constrained financial resources or liquidity will be hardest hit in the latest lockdown in the UK, according to HVS.
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    Insider
    The current pandemic focus is the race to vaccinate the world at a time when the virus seems to be ever-more the dramatic player in our lives, ducking and diving and mutating and generally making itself the unpopular visitor.
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    Sharing economy
    Analysts were enthused about Airbnb’s long-term prospects, although largely cautious on its pricing, after the platform saw a strong start to trading last month.
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    Transactions
    A total of 81 deals were announced in the global travel and tourism sector during December, a decrease of 9% on the month according to GlobalData.