HVS EMEA Hospitality Newsletter – Week Ending 25 September 2015 (September 26, 2015)

Domes of Elounda Joins the Autograph Collection 

Marriott International has added its first hotel in Greece to its Autograph Collection brand. The Domes of Elounda overlooks Mirabello Bay of Elounda on the island of Crete. The 122-unit (78 suites and 40 villas) hotel recently benefited from a multimillion pound expansion, which included the addition of 28 luxury residences. John Licence, brand leader for Autograph Collection Hotels in Europe, said, “We are delighted to welcome the luxurious and renowned Domes Of Elounda as our first Greek and Mediterranean resort into the Collection. The hotel has established itself exceptionally well in the luxury Greek market, and its unique attributes make it perfect for the brand.”

Ramada Plaza to Park Up in Voronezh 

Wyndham Hotel Group has signed an agreement for its fourth hotel in Russia and its first in the city of Voronezh. The 16-storey, 210-room Ramada Plaza Voronezh City Centre is due to open next month. "Voronezh is an important historic city, providing a fitting location for our iconic, globally-renowned Ramada brand. Its thriving culture and major centre of higher education attracts a variety of travellers, which Ramada is well placed to serve," commented Dan Ruff, Wyndham's president and managing director for Europe, the Middle East, Eurasia and Africa.

The Cairn Group Buys the Ramada Glasgow Airport 

Northeast England-based hotel operator the Cairn Group has acquired the Ramada Glasgow Airport, in Scotland, for an undisclosed multimillion pound sum. The 108-room, purpose-built hotel, which is just off the M8 motorway seven miles from Glasgow city centre, will now undergo an £8 million refurbishment over the coming year. The group now operates 23 hotels across the UK.

Radisson Blu Leogrand Lights Up Chisinau 

Carlson Rezidor's Radisson Blu brand has made its debut in Moldova in Eastern Europe with the opening of the Radisson Blu Leogrand Hotel, Chisinau. With 143 rooms, the property is the largest hotel in Moldova. The hotel is at the heart of Moldova's largest city and capital, Chisinau, and it brings the number of Rezidor-branded hotels in the CIS countries up to 11 (almost 2,200 rooms).

Swiss-Belhotel Expands into Turkey 

Swiss-Belhotel International has signed an agreement with the Arab Tourism Organisation and Saudi Norgeh for its first hotel in Turkey. The Hong Kong-based group has taken over the management of the five-star, 164-room Çelik Palace resort and spa in Bursa, northwestern Turkey, which has been rebranded as the Grand Swiss-Belhotel Çelik Palace Hotel.

Mövenpick Moving to Ivory Coast 

Mövenpick Hotels & Resorts is planning to open its first hotel in Ivory Coast, West Africa. The Swiss group has teamed up with French firm Bouygues and Ivory Coast-based Saprim for a new-build property in the country's capital, Abidjan. A total of €55 million is to be invested in the project; construction is due to start within the next six months and scheduled to be finished by the end of 2018.

Fairmont Abuja Announced 

Fairmont Hotels & Resorts is planning on entering the Abuja market in Nigeria. The 270-room Fairmont Abuja is expected to open in 2019 in the Nigerian capital's central business district. The 270-room hotel is being developed by Asset Management Group. It is Fairmont's second project in the country, as the 290-room Fairmont Lagos is already in the pipeline and due to mark the brand's debut in Nigeria in 2017. "As the continent's largest economy and biggest oil producer, Nigeria is experiencing robust and stable growth making it a world-class destination and enticing location for both business and leisure travel," commented Jennifer Fox, president, FRHI International and Fairmont Brand.

Hotel Stock Set to Rise in Angola 

GoldenPeaks Capital Holding, a UK-based investor, plans to invest US$1.2 billion in the construction of new hotels across Angola in southern Africa. The group has partnered with Banco de Poupança Crédito and the Angola Business Corporation to build 120 two- and three-star hotels over the next three years. The new supply will all have 50 rooms each.

Four Seasons Kuwait Announced and Four Seaons Casablanca Opens 

Canada-based Four Seasons Hotels and Resorts has announced plans for its debut appearance in Kuwait. The 263-room Four Seasons Kuwait at Burj Alshaya will be ready for its first guests in late 2016. The hotel, in Kuwait City's central business district, will be the group's 14th hotel in the Middle East. Additionally, Four Seasons opened its second property in Morocco this week: the Four Seasons Casablanca, which overlooks the Atlantic Ocean and is ten minutes away from Casablanca city centre. The five-storey, 186-room hotel joins the 141-room Four Seasons Marrakech.

Absolute Share Price Performance Over the Past Week – 17-24 September 2015 






InterContinental Hotels Group 
–  JP Morgan Cazenove retained a "neutral" rating and raised the target price from 2,700p to 2,770p.

NH Hotels Group – Expanded its presence in South America by completing the integration of the Columbian Hoteles Royal chain.

Marriott International – Will report its financial results for the third quarter of 2015 before the market opens on 15 October.

 

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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