The Big Deals Hotel CEOs Are Chasing in 2018
Photo Credit: Hotel executives say they don't see consolidation stopping anytime soon. Pictured is Best Western CEO David Kong. Best Western / Best Western Hotels & Resorts
Skift Take
For the hotel industry, shopping for new brands and other companies to buy up is always in season.
Already this year, we've seen at least one major hotel acquisition announced: Wyndham's $1.95 billion purchase of La Quinta Inns & Suites.
And if what hotel CEOs said on their recent quarterly earnings presentations at the Americas Lodging Investment Summit (ALIS) in January is any indication, we can expect more deals in 2018.
Last year, we saw a number of deals as well, albeit on a smaller scale than those that took place in 2016 between Marriott and Starwood, and AccorHotels and Fairmont, Raffles, and Swissotel.
It's only February, and 2018 is still relatively young, but already we know of a few companies hoping to fill gaps in their portfolios with some acquisitions.
Looking to Luxury and Locals
InterContinental Hotels Group (IHG), for one, is on the lookout to buy a few luxury brands that will occupy a luxury tier that's even higher than what the company already has with its InterContinental Hotels brand.
"We are currently looking to acquire one or two small luxu
