Hilton Dives into University Markets with Acquisition of Graduate Hotels

Hilton Dives into University Markets with Acquisition of Graduate Hotels

By Author

Published on March 18, 2024

Hilton, a leading global hospitality giant, is set to make waves in the lifestyle hotel market with its latest acquisition. In a deal worth $210 million, Hilton has agreed to acquire the fan-favorite Graduate Hotels brand from Adventurous Journeys Capital Partners (AJ Capital). The move signals Hilton's strategic expansion into the fast-growing lifestyle category, promising exciting opportunities for both owners and guests, especially in renowned college towns.

Under the agreement, Hilton will take over all rights to the Graduate brand worldwide, entering into franchise agreements for existing and upcoming Graduate Hotels. Meanwhile, AJ Capital will retain ownership of over 35 operating and pipeline Graduate properties, all operating under long-term Hilton franchise agreements.

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The acquisition, expected to be finalized in the second quarter, marks an immediate boost for Hilton. With a projected fee contribution of approximately $16 million in the first year, the deal aligns well with Hilton's growth strategy in the lifestyle segment.

"Adding Graduate Hotels to our portfolio accelerates our expansion in the lifestyle space by pairing an existing much-loved brand with the power of Hilton’s strong commercial engine to drive growth," says Chris Nassetta, president and CEO of Hilton. "We have long had a high bar for adding brands to our portfolio, and Graduate will be another driver of growth for us, offering unique opportunities to serve guests in sought-after destinations."

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Graduate Hotels, known for its unique charm and local character, caters to travelers seeking immersive experiences in university towns. From Ann Arbor to Oxford, each Graduate hotel reflects the distinctive heritage of its local university, making it an ideal choice for gamedays, reunions, graduations, and campus visits.

Ben Weprin, founder of Graduate Hotels and CEO of AJ Capital, expressed enthusiasm about the partnership with Hilton. "With Hilton's extensive network behind us, guests can anticipate even more exciting opportunities," says Weprin. "We're certain this partnership will propel Graduate Hotels to even greater heights."

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Hilton's move to acquire Graduate Hotels underscores its commitment to offering diverse and immersive travel experiences. As Graduate Hotels join Hilton's lifestyle portfolio alongside other renowned brands, travelers can expect seamless bookings and access to Hilton Honors benefits.

With Hilton's relentless focus on innovation and growth, the acquisition of Graduate Hotels marks a significant milestone in the hospitality industry, promising an exciting future for travelers seeking unique and memorable stays.


The Bluffs Grand Ho Tram Celebrates Best Golf Course Win at Global Tourism Awards

The Bluffs Grand Ho Tram Celebrates Best Golf Course Win at Global Tourism Awards

By Nithyakala Neelakandan

Published on August 24, 2024

The Bluffs Grand Ho Tram has been awarded the prestigious "Best Golf Course International" title at the Global Tourism Awards, presented by Travel World Online. This significant achievement highlights the course’s dedication to offering an exceptional golfing experience amidst some of the world’s most stunning landscapes.

Known for its unique design, pristine course conditions, and natural beauty, The Bluffs Grand Ho Tram has consistently been a favorite among golf enthusiasts. This international recognition is a testament to the hard work and passion of the entire team, who have continually strived to create an unmatched golfing environment. The course’s commitment to excellence ensures that every round played at The Bluffs is both memorable and extraordinary.

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The Bluffs Grand Ho Tram also extends its heartfelt thanks to its guests, whose support and enthusiasm drive the team to maintain such high standards. The resort is excited to continue welcoming golfers from around the globe to experience its award-winning greens and looks forward to many more outstanding rounds of golf in the future.

Located at the Grand Ho Tram in Vietnam, The Bluffs is celebrated not only for its world-class golf course but also for its luxurious amenities and breathtaking scenery. This award solidifies its position as a top destination for golf lovers worldwide.


Sterling Holiday Resorts Achieves Record Q1 Revenue of ₹126 Crore

Sterling Holiday Resorts Achieves Record Q1 Revenue of ₹126 Crore

By Nithyakala Neelakandan

Published on August 6, 2024

Sterling Holiday Resorts, a leading player in India's leisure hospitality sector, has reported its highest-ever Q1 revenue of ₹126 crore for FY25. This figure marks a 9% year-on-year growth despite various challenges faced during the quarter, such as a nationwide heatwave, election-related travel delays, and fewer wedding dates.

The company’s EBITDA margin stood at a robust 34%, consistent with industry benchmarks, although slightly lower than the previous year due to the opening of five new resorts in Rajasthan, three of which are in Udaipur and still in their ramp-up phase. Sterling has maintained profitability for 16 consecutive quarters.

Sterling’s expansion strategy continues to drive growth, with the company crossing the milestone of 50 resorts, thanks to the addition of two new locations in Dehradun and Udaipur during the quarter. In total, Sterling has opened nine new resorts since Q1 FY24, underscoring its commitment to a balanced portfolio and regional growth.

CEO and MD Vikram Lalvani commented, “Despite numerous headwinds in the first quarter, Sterling delivered its highest ever Q1 revenues and a healthy EBITDA margin, while also ramping up capacity with new resorts. With long term demand trends continuing to be strong, Sterling is poised for sustained growth through asset-right, balanced portfolio growth across regions. Based on our expansion plans of 20 additional resorts and 1,000 keys in the next 12 to 18 months, in phases, we are also investing in building key talent to cater to this growth.”

Sterling’s achievements have been recognized on platforms like TripAdvisor, where 19 of its resorts are ranked No. 1 in their locations, with 65% of its resorts in the Top 5 overall. Additionally, Sterling Puri received the Best Resort for Destination Weddings (East) award at the ET MICE & Wedding Tourism Awards 2024, highlighting the brand’s growing influence in the hospitality industry.


Secret Ingredient to Revamp Culinary Concepts at Le Meridien New Delhi

Secret Ingredient to Revamp Culinary Concepts at Le Meridien New Delhi

By Nithyakala Neelakandan

Published on August 1, 2024

Secret Ingredient, a leading consulting firm in the restaurant and hospitality sector, has been selected by Le Meridien New Delhi to re-conceptualize and develop the menu for its rooftop restaurant, Le Belvedere. This collaboration aims to elevate the dining experience at the iconic establishment, known for its panoramic city views and upscale Chinese cuisine.

Le Belvedere will benefit from Secret Ingredient’s expertise in food and beverage (F&B) solutions, including menu innovation and technical management. The consultancy’s role will be to ensure that the restaurant offers high-quality dining experiences that appeal to a wide range of tastes.

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Sid Mathur, Founder and Director of Advisory & Strategy at Secret Ingredient, expressed his excitement about the partnership: "We are thrilled to collaborate and work with the talented teams of Le Belvedere to elevate potential F&B offerings. Our aim is to bring innovative and effective solutions that enhance the dining experiences at Le Belvedere."

Tarun Thakral, Executive Director at Le Meridien New Delhi, added, "As a hotel committed to exposing the curious and creative-minded traveller to unexpected and engaging experiences, we are thrilled to partner with Secret Ingredient to elevate our culinary offerings. This collaboration will undoubtedly unlock a new dimension of discovery for our guests, making their experience truly unforgettable."

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Kula Naidu, Director of Conceptualization & Branding at Secret Ingredient, emphasized the significance of this partnership in their broader mission to redefine food and beverage concepts in India. "This partnership marks a significant step in our mission to redefine food and beverage concepts in India. We look forward to applying our holistic approach to Le Belvedere and creating outstanding culinary experiences. Our extensive experience and innovative approach will undoubtedly contribute to setting new standards in the industry," Naidu stated.

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Secret Ingredient is known for its comprehensive consulting services, including kitchen planning, recipe development, staff training, menu revamping, and brand conceptualization. The firm has worked with several high-profile brands and cloud kitchens across India, contributing to their success with innovative strategies and hands-on expertise.

Some of Secret Ingredient’s notable projects include collaborations with Khyber Hotel Gulmarg, The Grand Dragon Ladakh, Trident’s Kaansa Lyrah, and several other renowned establishments.

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