HVS EMEA Hospitality Newsletter – Week Ending 20 March 2015 (March 21, 2015)

MEININGER To Reach Five In Berlin 

MEINNINGER Hotels has signed an agreement with NDC Group for its fifth hotel in Berlin, Germany. The MEININGER Hotel Berlin East Side Gallery is due to open in autumn 2016 close to one of the city's main railway stations, Ostbahnhof. The hotel is expected to have 704 beds across 206 rooms.

Hyatt Regency On Its Way To Tbilisi 

An affiliate of Hyatt Hotels Corporation has signed a management agreement with Rustaveli Property Ltd for its first property in the Republic of Georgia. The Hyatt Regency Tbilisi is expected to open in 2017. The 170-room hotel is to be developed in the former Ministry of Justice building in downtown Tbilisi, Georgia's capital.

Mövenpick Opens On The Bosphorus 

Mövenpick Hotels & Resorts is set to open its second hotel in Istanbul and its third property in Turkey overall by the end of the month. The Mövenpick Hotel Istanbul Golden Horn, which is owned by Akgel Real Estate Investment will open on 31 March on the city's historic peninsula. The hotel's exterior was designed by Loft Architects, and its interior is the product of Sinan Kafadar from Metex Design Group.  

Come See HVS At Hotel Operating Agreements Conference 

With less than a week to go until Henry Stewart's Hotel Operating Agreements conference arrives in London, preparations are well underway at the host venue, the Radisson Blu Portman Hotel. With a full day of case studies, keynote presentations and panel discussions, there will also be plenty of chances to network. Don’t forget to check out the session called Franchise and management operating agreements in the current market – how do they differ, what's better and when? at 2.30pm. Led by HVS London director, Arlett Oehmichen, the session's speakers include Nuno Galvao Pinto, senior vice president at JLL; Carmen Hui, senior vice president – acquisitions, Europe, Host Hotels Ltd; and Philip Lassman, development manager – UK and Ireland, InterContinental Hotels Group. If you haven’t already bought a ticket, HVS newsletter readers are entitled to a 20% discount for the event. When booking please enter discount code HVS20. Click here to book your place.

Galway Hotel Sold And Two UK Properties Get New Owners 

The Hotel Clybaun in Knokcnacarra in the county of Galway, western Ireland, has been sold out of administration for a sum reported to be around €3 million, well in excess of its guide price. A consortium of private investors purchased the 92-room hotel, which is now expected to undergo a €1 million refurbishment programme. Over in the UK this week, Indian group MGM Muthu Hotels acquired the 55-room Westcliff Hotel in the seaside town of Westcliff-on-Sea, southeast England, for an undisclosed sum. The clifftop hotel was put on the market last year for £1.8 million. This is MGM's second hotel purchase in the UK. In Scotland, the Knight Residences aparthotel in Edinburgh was purchased by London-based Mansley Group Holdings for an undisclosed sum. The 28-unit property is to be rebranded as the Knight Residences by Mansley.

Pandox Operations Expands In Norway And First Scandivavian Indigo Opens In Finland 

Pandox Operations, the hotel operating subsidiary of Pandox, is to take on the operation of the Radisson Blu Lillehammer Hotel in the town of Lillehammer, in Norway. The group also plans to invest NOK60 million (US$7.2 million) in a renovation of the 303-room hotel. With the current lease agreement for the hotel about to expire, Pandox Operations will take over in August. The hotel's makeover is expected to be completed near the end of 2016; the work will be carried out in stages, ensuring there is no disruptions to the property's daily operation. Pandox Operations currently runs 18 hotels across seven countries. Other Nordic news this week includes the opening of the Hotel Indigo Helsinki Boulevard in Finland's capital. The 120-room hotel is InterContinental Hotels Group's first Indigo-branded property in Scandinavia.

Boscolo Exedra Nice Joins The Autograph Collection 

The Boscolo Exedra Nice, on the French Riviera, has become the third hotel in France to join Marriott International's Autograph Collection. A recent renovation of the 112-room hotel, which dates from 1913, has restored it to its former glory.  

Lalit To Land In The UK 

Lalit Suri Hospitality plans to convert a former school building next to London's Tower Bridge into a five-star hotel, which, when it opens a year from now in March 2016, will become the group's first property outside of India. Lalit purchased the 175-year-old listed building three years ago for €15 million and it is estimated that the conversion will cost approximately €40 million. "We don't intend to change the character of this masterpiece but will only restore it to turn it into the hotel," commented Jyotsna Suri, the group's chairman.

Hilton Signs First Garden Inn For Nairobi 

Hilton Worldwide has got together with local Kenyan company Modern Reliance to open its first Hilton Garden Inn hotel in Kenya, East Africa. The KES2.3 billion (US$25 million) hotel is currently under construction on a 1.3 acre plot on Mombassa Road, near to Jomo Kenyatta International Airport, in Nairobi. Construction is due to finish by the end of the year but the 175-room hotel is expected to open in March 2016.

Four Seasons For Manama 

Four Seasons Hotels and Resorts has opened its first property in Bahrain. In the kingdom's capital, Manama: a towering skyscraper with 360° views of the sea and the city, the Four Seasons Hotel Bahrain Bay is housed on its own man-made island. The 273-room hotel is one of several Four Seasons hotels to open recently in the Middle East, including the Four Seasons Resort Dubai at Jumeirah Beach, Four Seasons Hotel Doha and Four Seasons Hotel Riyadh.

Debuts Galore In Dubai 

IFA Hotels & Resorts has signed an agreement with Dubai Investment Properties for a Yotel property in Dubai. When the 42-storey, 438-room Yotel Business Bay opens in 2018 it will become the first of its brand in the Middle East. The development will also include 127 Yotel-managed serviced apartments, marking Yotel's first foray into the serviced residence market. Starwood Hotels & Resorts announced that its first ever St. Regis polo resort, the St. Regis Dubai Al Habtoor Polo Resort & Club, is to open in the emirate in 2017 with 136 guest rooms, 24 St. Regis-branded bungalows and 238 residential villas. The opening of the St. Regis Dubai on 1 October 2015 will mark the debut of the brand itself in Dubai. Lastly, this week Accor's Aparthotel Adagio Premium brand made its first appearance in Dubai with the opening of the 198-unit Aparthotel Adagio Premium Dubai Al Barsha, which is the second of its brand to open worldwide.

The World's First Milliennium Executive Apartments Open 

Millennium & Copthorne's Millennium Executive Apartments brand has made its worldwide debut in Muscat, Oman. The 115-unit Millennium Executive Apartments is part of a mixed-use development that includes the Muscat Grand Mall. The 328-room Grand Millennium Hotel Muscat is also due to open on the site in the third quarter of 2015, bringing further food and beverage outlets to the project as well as a health club and meeting facilities.

Absolute Share Price Performance Over the Past Week – 12-19 March 2015 

Accor – Natixis raised its price target to €56 from €52 and maintained a "buy" rating on the stock.

InterContinental Hotels Group – Appointed Sandi Macfie as director of hotel performance support for Africa.

Hyatt Hotels – Announced that it has selected two strategic global marketing leaders:  Debra Goetz as senior vice president, corporate marketing and global communications, and Sandra Cordova Micek as senior vice president, global brands.


For the latest in the hospitality industry, please visit: http://www.hvs.com/. You are also welcome to contact the following personnel.
Russell Kett, Chairman – HVS London (@russellkett) rkett@hvs.com
Charles Human, CEO – HVS London/HVS Hodges Ward Elliott chuman@hvshwe.com
Simon Tucker Brown, Managing Director – HVS Executive Search Europe & Middle East stuckerbrown@hvs.com
Chris Martin, Senior Director – HVS Hodges Ward Elliott cmartin@hvshwe.com
Puneet Kanuga, Director – HVS Hodges Ward Elliott pkanuga@hvshwe.com
Arlett Oehmichen, Director – HVS London aoehmichen@hvs.com
Sophie Perret, Director – HVS London sperret@hvs.com
Tim Smith, Managing Partner – HVS Cape Town tsmith@hvs.com
Demetris Spanos, Managing Director – HVS Athens dspanos@hvs.com
Hala Matar Choufany, Managing Director – HVS Dubai hchoufany@hvs.com
Ezio Poinelli, Director – HVS Milan epoinelli@hvs.com
Louise Fury, Senior Editor and EMEA Hospitality Newsletter Author – HVS London lfury@hvs.com


Disclaimer: Information provided above has been gathered from various market sources. HVS has not independently verified the accuracy of the information provided. Interested parties should not rely on the information as statement of facts and are advised to make their own independent checks to verify the information provided. For further information, please feel free to contact HVS London.

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