Gresham Hotel Group Sells The Park Inn Hyde Park

The 188-room Park Inn Hyde Park has been sold by Gresham Hotels to an unknown investor for a reported £35 million. The hotel had been on the market since March this year and it has benefited greatly from the London hotel market’s strong performance. The transaction highlights that London continues to be a hotspot for investors.

Two New Blus For Rezidor

Rezidor Hotel Group has announced the Radisson Blu Hotel & Conference Centre Salzburg, in Austria, and the Radisson Blu Hotel, Nantes, in France. The 257-room Radisson Blu in Salzburg, formally the Renaissance Salzburg Congress Center, will be operated by Grand City Hotels & Resorts and is due to be rebranded in the third quarter of 2010. Rezidor currently has nine properties in operation or under development in Austria, four of which are Radisson Blu hotels. The famous Palais de Justice in Nantes, France, will be converted into the 142-room Radisson Blu Hotel, Nantes, which is due to open its doors in 2013. Rezidor now has 26 hotels in operation and under development in France, including properties in Paris, Bordeaux, Marseille, Nice and Lyon.

The First Doubletree By Hilton Opens In Greece

Hilton Worldwide has announced the opening of the first Doubletree by Hilton in Greece on the island of Kos: the Doubletree by Hilton Resort, Kos-Helona. Overlooking Helona beach on the southern coast of Kos, the two-storey resort, operated by AKTI Helona SA Tourist and Commercial Enterprises, has 238 guest rooms, suites and villas. Hilton now has 11 Doubletree by Hilton hotels and resorts in operation throughout Europe and more than 15 in the pipeline.

A Second Splash Of Indigo For London

InterContinental Hotels Group (IHG) celebrated the opening of its second Indigo property in London this week. The Hotel Indigo London Tower Hill is a converted office building with 44 rooms and two suites, located between Aldgate and the Tower of London. The property is owned by Thai Square Group and its opening emphasises IHG’s desire to further develop the brand.

Shearings Grows With The Acquisition Of Its 50th UK Hotel

With plans to expand its portfolio with up to ten more properties over the next three years, the Shearings Group has announced its acquisition of the Charlecote Pheasant Hotel in Stratford-upon-Avon. The 72-room hotel will be part of the company’s Coast and Country portfolio, which currently comprises 14 properties. This deal was just one of many potential acquisitions currently being considered by Shearings, following a £10 million refurbishment programme of its entire portfolio across the UK in the past year.

The Grosvenor Hotel Is To Receive A Facelift

Guoman Hotels has announced an £18 million refurbishment scheme for the 357-room Grosvenor Hotel, next to London’s Victoria Station. The renovation scheme will comprise the full redesign of all of the bedrooms and public areas, as well as the development of a self-contained executive accommodation tower to be completed by 2012.

Travelodge Reaches A Quarter Of A Century

UK budget brand Travelodge recently celebrated its 25th birthday. As well as throwing a party and inviting London’s Mayer Boris Johnson to blow out the candles on the cake, the company also marked this milestone with the opening of hotel number 400: the Travelodge London Waterloo. Part Grade-II listed building and part new build, this 269-room hotel is the company’s 34th property in the UK’s capital and it was constructed at a cost of £21.1 million. Travelodge plans to open another 18 hotels in London in time for the 2012 Olympic Games. Commenting on the new opening, Guy Parsons, Travelodge’s chief executive, said: “London Waterloo is the perfect example of the modern and vibrant company Travelodge has evolved into over the last 25 years…With the Olympics getting even nearer and given the prominent role tourism plays in the growth of the London economy, we have also invested heavily to ensure that Travelodge is the biggest hotel brand in the Capital [sic] in time for the 2012 games.”

Coral Enters The Saudi Arabian Market With A New Hotel In Jeddah

Together with Al Fanar Group, Coral Hotels & Resorts has signed an agreement to manage a new hotel in Jeddah. The Coral Jeddah will have 54 rooms, eight suites, eight studio apartments, food and beverage outlets and leisure facilities. The hotel is expected to open early in 2011 and is part of Coral’s development strategy to increase its presence in Saudi Arabia. In addition to the Coral Jeddah, the group recently signed another two management contracts for hotels in Saudi Arabia at the Arabian Travel Market.

Ritz-Carlton To Operate The Grand Canal Hotel

Abu Dhabi National Hotels Company (ADNH) and Ritz-Carlton have signed a memorandum of understanding for the Grand Canal Hotel, which is currently under construction in Abu Dhabi. The hotel will have 532 rooms, suites and villas and is expected to be completed in 2011. Saif Al Hajeri, chairman of ADNH said: “Our alliance with The Ritz-Carlton Hotel Company is a demonstration of our overall plans of ADNH’s growth strategy”.

Accor To Manage Two Hotels In Syria

Accor and Bena Properties, the real estate investment and development arm of Cham Holdings, have signed a management agreement for two hotels within the Taj Halab mixed-use development in Syria. These hotels are Accor’s first properties in the country, playing a vital role in the group’s expansion plans within the region. The hotels are to operate under the Novotel and Ibis brands with 129 and 150 rooms, respectively. Taj Halab is expected to be completed in 2014 and will consist of seven historic buildings, retail and food and beverage outlets and conference facilities.

Ritz-Carlton To Open In Tel Aviv

Ritz-Carlton has signed a deal with Tidhar Ltd and Migdal Insurance and Financial Holdings Ltd to buy a block of buildings on Rothschild Boulevard in Tel Aviv for US$50 million. The new hotel will be amongst a number of other hotel developments on the street currently being promoted by the Tel Aviv Planning and Building Commission.

Absolute Share Price Performance Over the Past Week 1-8 July

Sol Meliá - Increased 2.1% on high volume, rising for a fourth consecutive day.

Rezidor Hotel Group - The company's six-month relative strength of 94 is the highest among rising stocks.

Accor - Bank of America-Merrill Lynch reiterated its "underperform" rating and cut Accor's share price target to €22 from €33.

For the latest in the hospitality industry, please visit: http://www.hvs.com. You are also welcome to contact the following personnel.