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News from around the EMEA region, Oct 24.
Friday, 24th October 2014
Source : HVS

Hotel, industry and travel news from around Europe, Middle East & Africa; this week: NH Hoteles sells stake in Sotogrande, Q3 good for Accor's revenue, Dalata expands in Ireland and more...

Dalata Picks Up Part Of Project Nadal
Dalata Hotel Group is buying two new hotels in Ireland. The Dublin-based group has agreed to acquire the four-star, 195-room Clayton Hotel close to the Ballybrit Racecourse in county Galway and the four-star, 157-room Whites Hotel in the town of Wexford for €31.7 million, payable in cash. The sale price of the Clayton Hotel is reported to be €20 million (€102,600 per room) and the Whites Hotel fetched €11.7 million (€74,500 per room). Dalata has operated both hotels under management contracts since 2009 and the sale is expected to close in the next four weeks. The hotels were on the market as part of the €200 million Project Nadal portfolio, which includes eight hotels and two hostels that are being sold by Ulster Bank as part of its ongoing divestment from Ireland’s hotel market. Apollo and Goldman Sachs are said to also be purchasing assets from the portfolio.

NH Sells Its Stake In Sotogrande
NH Hoteles has sold its 97% stake in the Sotogrande resort in southern Spain to Cerberus and Orion Capital for €225 million, which will see the Spanish group receive a net return of €178 million. The deal includes the 148-room NH Almenara hotel, the 106-room NH Sotogrande hotel, other real estate including golf courses and development land.

Shiva Acquires Kingsway Hall
Privately owned hotel manager and developer Shiva Hotels has purchased the Kingsway Hall Hotel in London, UK, from Cola Holdings for an undisclosed sum. The four-star de luxe hotel, in London’s iconic Covent Garden area, has 170 rooms. Shiva will refurbish the hotel, which opened in 1999, before rebranding it.

Icelandair Lands A New Hotel In Reykjavik
Icelandiar Hotels, a subsidiary of Icelandair Group, has signed a 20-year lease for a new hotel in Reykjavik, Iceland. The new-build, 70-room hotel, owned by Sudurhus, is expected to open in the city centre at the beginning of 2016. Icelandair currently has nine hotels in operation across Iceland, two of which are in Reykjavik.

Rezidor Brings A New Hotel To The Table In Cape Town
Carlson Rezidor Hotel Group has opened its second Park Inn by Radisson property in Cape Town, South Africa. The Park Inn by Radisson Cape Town Newlands is ten kilometres from the city centre, at the foot of the area’s famous landmark, Table Mountain. The 122-room hotel is a joint venture between Cape Town-based Meridian Property Holdings, the Deaf Federation of South Africa and the Industrial Development Corporation. Rezidor now has three hotels in operation in total in Cape Town with a further two in development due to open shortly.

Hilton Adds A New Layer To The Lifestyle Hotel Market
Hilton Worldwide is the latest company to announce the launch of a new lifestyle brand. Canopy by Hilton is to target both leisure and business travellers and will expand into key primary and secondary markets around the world, via new-build and conversion properties. The group has already signed letters of intent for the brand in 11 cities, including London and other major cities across the USA. Hilton’s president and chief executive officer, Christopher Nassetta, said that through market research the group had ‘identified the need to take the emphasis off of capital-intensive design and deliver exactly what the target consumer desires: an energizing, comfortable stay with more included value”. The first Canopy by Hiltons are expected to open in 2015.

A Second Time Residence For Abu Dhabi
Time Hotels Management has opened its second Time Residence aparthotel in Abu Dhabi. The 68-unit Zakher Time Residence " Abu Dhabi, on Fatima Bint Mubarak Street, joins the 72-unit Time Pearl Residence, which opened last year. Dubai-based Time also has a further two residences in the pipeline for the UAE capital (the 312-unit Meera Time Residence and the 264-unit Jouharaaa Time Residence, which is expected to open in 2016). The group also announced this week that it is in talks to expand in Egypt and Saudi Arabia with its new budget hotel brand, Time Express.

Third-Quarter Revenue Rise For Accor
Accor has reported a like-for-like rise in total third-quarter revenue of 4.6% to €1,459 million, with like-for-like rises of 4.6% and 2.7% for the group’s Hotellnvest and HotelServices businesses, respectively. RevPAR for the Northern, Central and Eastern Europe region (not including France or Southern Europe) increased by 6.4% to €62, whilst hotels in the Mediterranean, Middle East and Africa (including Southern Europe) achieved a RevPAR increase of 10.6% to €53 over the third quarter. The group has confirmed a full-year EBIT target of between €575 million and €595 million. Accor reported strong demand in most markets. Southern Europe recorded the fastest recovery but the first signs of a slowdown were seen in Africa. “We will continue to pay close attention to changes in the persistently lackluster French market, and to the situation in Africa,” commented Sébastien Bazin, Accor’s chairman and chief executive officer. “The strong demand in Europe, including Southern Europe, and in emerging markets will provide the growth necessary for Hotellnvest and HotelServices to continue to implement their strategic roadmaps,” he added. Accor opened 51 hotels (7,259 rooms) during the third quarter of the year.

www.hvs.com

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