HVS EMEA Hospitality Newsletter – Week Ending 21 August 2015 (August 22, 2015)

ibis Dublin Sold 

London-based hotel real estate investor and asset manager Hetherly Capital Partners has purchased the ibis Dublin in Ireland from AccorHotels in a sale-and-franchise-back deal for an undisclosed sum. The 150-room, three-star hotel is 15 km from the centre of Dublin, Ireland's capital, which is on the country's east coast, at the mouth of the River Liffey. The hotel is relatively new, having been built in the mid-1990s, and is AccorHotels only property in the city. This isn't the first sale-and-franchise-back deal Hetherly has completed with AccorHotels, as just a couple of months ago in June the group acquired the 89-room ibis Coventry Centre in the UK.

New ibis for Reading 

Following the signing of a franchise agreement with Habro properties, AccorHotels has announced that it will be opening its fourth hotel in Reading. The 97-room ibis Styles Reading Oxford Road will operate under the ibis Styles brand and will be managed by Interstate Hotels & Resorts. Accor currently has nine ibis Styles hotels in the UK. Thomas Dubaere, AccorHotels UK managing director, said, “We are delighted to announce the opening of the ibis Styles Reading Oxford Road hotel, our fourth hotel in this key gateway city. The continued expansion of our ibis network in the UK demonstrates the strength of the design-focused brand with both our guests and franchise partners and is in line with our ongoing strategy to continue to grow our economy offering.”

Glenapp Castle Gets a New Owner 

MacMillan Hotels has sold the Glenapp Castle in Scotland, UK, to Paul and Poppy Szkiler for an undisclosed sum. The 17-room historic hotel is in Ballantrae on Scotland's southwest coast, overlooking the Irish Sea. The castle dates from 1870 and is situated on a 36-acre estate. MacMillan Hotels purchased the building, which had fallen into disrepair, in 1994 and spent six years restoring and transforming the castle into a luxury hotel.

Union Investment Purchases Second Hotel in Wroclaw 

It was reported this week that Frankfurt-based Union Investment has acquired the Radisson Blu Hotel, Wroclaw in western Poland for an undisclosed sum. The 162-room hotel is close to the city's Old Market Square and the River Odra. This sale mark's Union Investment's second hotel purchase in Wroclaw in the last eight months.

Safestay gets Smart in Edinburgh 

Blackfriars Property plans to sell the five-star Smart City hostel in Scotland's capital, Edinburgh, to luxury hostel group Safestay for £14.9 million. The 615-bed property has been operated by Starboard Hotels since it was rescued from administration in 2009. The transaction is expected to close next month.

A Facelift for the Hilton Euston 

Hilton Worldwide has revealed its refurbishment plans for the Hilton Euston London. The group will spend more than £8 million on the 150-room hotel, in the UK capital's Bloomsbury area. The work will include a full renovation of all of the hotel's guest rooms, an expansion with the addition of new guest rooms and the creation of a fitness centre. Some of the refurbished guest rooms should be ready this autumn. The hotel is housed across two Victorian townhouses within walking distance of London Euston railway station.

New Courtyard Makes the (Bel)grade in Serbia 

Marriott International is due to make an autumnal first appearance in Serbia on 7 September with the opening of the Courtyard Belgrade City Center. The 114-room Hotel is located in Republic Square, part of the Serbian capital's historic city centre. The latest addition to Marriott's portfolio will bring its global presence up to 42 countries.

Tuning into Liverpool 

Tune Hotel Group is set to open its first hotel in Liverpool. The historic Grade II-listed Queen Building is being converted into the 100-room Tune Hotel Liverpool, City Centre. Mark Lankester, chief executive of brand assets and capital markets at Tune, said, “Tune Hotels is continuing to light up the UK hospitality scene with its highly successful no-frills, only pay for what you need, hotel concept.” Tune currently has hotels in London, Edinburgh and Newcastle, as well as several hotels in Malaysia, two in Indonesia, one in Australia and one in India.

Motel Number One for Amsterdam 

German budget hotel group Motel One has made its debut in Amsterdam with the 320-room Motel One Amsterdam close to the Amsterdam RAI Exhibition and Conference Centre. This opening follows the recent opening of the 330-room Motel One Manchester-Piccadilly in June.

Hilton Plans a Move into Botswana 

Hilton Worldwide has signed a management agreement with Fleming Asset Management for the Hilton Garden Inn Gaborone, which marks the group's first project in landlocked Botswana, southern Africa. Scheduled to open in 2017 in Gaborone, Botswana's capital and largest city, the 150-room hotel will be located in a new, expanding business district. "Botswana has one of the fast[est] growing economies in the world and an impressive visitor offering – resulting in an excellent opportunity for hotel development as we exceed 70 Hilton Worldwide properties either trading or under development across Africa," said Patrick Fitzgibbon, Hilton's senior vice president of development for Europe and Africa.

Marriott Makes it into Ghana 

Marriott International has made its debut in Ghana in West Africa, on the Gulf of Guinea and the Atlantic coast, with the opening of the Protea Hotel Select Takoradi. The 132-room hotel is in Takoradi, Ghana's fourth largest city. The new opening brings Marriott's presence in the Middle East and Africa up to 19 countries.

Shangri-La to Make a November Debut on Mauritius 

The six-month renovation of Le Touessrok resort in Trou d'Eau Douce Bay, on the east coast of Mauritius, will soon come to an end; the resort, which closed for its makeover on 15 April 2015, has been reflagged and will reopen on 1 November 2015 as the Shangri-La's Le Touessrok Resort & Spa. The 200-room hotel will mark the debut of Hong Kong-based Shangri-La Hotels and Resorts on the East African island.

Second Hotel for H 

H Hotel and Resort Management Company has opened its second hotel: the H Resort Beau Vallon Beach, Seychelles. The hotel, which has 100 rooms and 16 villas, joins the Dubai-based company’s other hotel: the 236-room H Dubai, which was extensively refurbished in 2014. “The H Resort Beau Vallon Beach is affiliated with the Small Luxury Hotels of the World, a group of 520 independent hotels that offer genuine experiences across the globe,” said Dominique Richard-Hebert, general manager of the H Resort, Seychelles. “Our acceptance into the SLH club is a testimony to the exceptional level of service and the quality of experience we offer every guest every day. I am extremely proud to be part of the sensational journey of The H Resort.”

Premier Inn Sharjah Opens Following Delay 

Kuwaiti-based development and asset management company, Action Hotels, and the Premier Inn Sharjah in Sharjah, UAE, have announced the official opening of the 168-room hotel after it was delayed from opening last year by reported snagging and power issues. Alain Debare, chief executive officer of Action Hotels commented: “I am delighted that Premier Inn Sharjah is now open. The hotel enjoys a superb location in the heart of Sharjah and is the first internationally branded economy hotel in the Emirate. We are confident in the hotel’s future success. Sharjah is well positioned for both leisure and business travel and is a hub of culture and activity, having been named Arab Tourism Capital for 2015.”

Absolute Share Price Performance Over the Past Week – 13-20 August 2015 








Hyatt Hotels 
–  Has named Samie Barr as vice president, global brands.

Starwood Hotels & Resorts – Paulson & Co. acquired a 7% stake in Starwood last quarter, becoming the biggest share holder in the company.

Wyndham Worldwide – Fitch affirmed the BBB-issuer default rating with a stable outlook. 

 

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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
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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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