Starwood's Grand Plan for London

The 303-room Sheraton Park Lane Hotel in London is to be reflagged under Starwood Hotels & Resorts' Sheraton Grand brand later this year, marking the first appearance of the brand in the UK capital. The 90-year-old iconic property has been getting a makeover with a multimillion pound renovation taking place at the hotel. It will be renamed the Sheraton Grand London Park Lane. HVS has been pleased to advise the owners of this hotel with regard to this redevelopment. Starwood launched the Sheraton Grand chain in 2015 and it currently comprises 27 hotels, six of which are in the Middle East and Europe.

A New Nadler Planned for London

Nadler Hotels has acquired the Walter House vacant office building in London’s Covent Garden area for £15.6 million from Legal & General Property and has plans to turn the 20,000 ft² space, spread across five upper floors, into its fourth hotel in London and its fifth in the UK overall (the London-based group also operates a property in Liverpool city centre). The building, which also includes street-level retail, currently has permission for a change of use into flats but Nadler will apply for planning permission for a 56-room hotel.

Super 8 Soars into Germany

At the beginning of the week, Wyndham Worldwide opened its first Super 8 hotel in Germany in the city of Munich. The 168-room Super 8 Munich City West is in the Bavarian capital’s Laim district, just ten minutes away from the city centre. Commenting on the location for the budget brand’s debut in the country, Daniel Ruff, Wyndham Hotel Group’s president and managing director for the EMEA region, said, “Munich is a bustling metropolis brimming with new ideas and innovative business models, as evidenced by the tremendous local talent showcased at our grand opening celebration.”

Marriott Opens its First AC Hotels in the UK

Marriott International's AC Hotels by Marriott chain made its debut appearance in the UK this week with not one but two hotels. The 142-room AC Hotel Manchester Salford Quays is at the heart of the city's of Salford's regenerated Salford Quays district and the 90-room AC Hotel Birmingham City Centre is situated at The Mailbox mixed-use development, the former Royal Mail sorting office in the city of Birmingham. The properties are just two of approximately 22 AC Hotels by Marriott expected to open worldwide this year.

Maldron Chain to Expand in Dublin

Irish group Dalata has purchased a site in Dublin for €8.1 million that it plans to use for a Maldron hotel. The plot, on Kevin Street, already has planning permission for a hotel. Work on the new 137-room Maldron property is expected to start later this year. The development is scheduled to open in mid-2018 at a total cost of €26 million (€190,000 per room). "The purchase of this property is a very exciting opportunity for the company and is consistent with our stated strategy of securing development sites for further new hotels in Dublin," commented Dermot Crowley, Dalata’s deputy chief executive.

Hyatt Finds its Place in Germany

An affiliate of Hyatt Hotels has signed a franchise agreement with InTown Hospitality GmbH for the first Hyatt House hotel in Germany. When it opens in January 2017, the Hyatt House Düsseldorf, in western Germany, will be the first of its brand to open in Europe. The 102-key hotel will be part of the Andreas Quartier development, which comprises the regeneration of a former courthouse building in Düsseldorf’s Old Town. Hyatt currently has five hotels in operation across Germany, and now has three properties in its development pipeline.

Rocco Forte to Make its Middle Eastern Debut

Rocco Forte Hotels will open its first property in Saudi Arabia this September, making its first appearance in the Middle East. Construction of the Assila Hotel in Jeddah is already complete. On Tahlia Street, the hotel will have 210 rooms and suites and 94 serviced apartments. The group currently operates ten luxury hotels across Europe.

Absolute Share Price Performance Over the Past Week – 19-26 May 2016

 

 
 

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.