EMEA Hospitality Newsletter – Week Ending 21 October 2016 (October 22, 2016)

HVS Hodges Ward Elliott advises Chandris on new Marriott Athens 

The Marriott brand is to return to Athens following an agreement between Chandris Hotels and Marriott International to rebrand the 366-room Metropolitan Athens Hotel, on Syngrou Avenue, after the completion a US$15 million renovation, which is scheduled to be completed in 2018. The hotel includes two restaurants, a rooftop bar, fitness and leisure facilities and state-of-the-art meeting space. The agreement follows a brand selection and negotiation process run by HVS Hodges Ward Elliott on behalf of Chandris.

Marriott is in its Element in Egypt 

Marriott International is taking its eco-conscious Element brand to Egypt for the first time. The Element Cairo is to be developed by Abraj Misr Urban Development in the city’s up-market Heliopolis district. The 344-room hotel, which is owned by Middle East Real Estate for Development, is expected to open at the beginning of 2019 and will be part of the eco-friendly mixed-use Gate Project. “Element Cairo will be a highly-anticipated addition to our rapidly growing portfolio presenting travelers an appealing, new option for short and long stays in this market,” said Alex Kyriakidis, Marriott’s president and managing director for the Middle East and Africa.

Meliá to Manage New Properties on Majorca and Opens its Fourth Hotel in Frankfurt 

Meliá Hotels International has been chosen to manage the new Palacio de Congresos de Palma and its connecting hotel, the Meliá Palma Bay, on the Spanish island of Majorca. The seafront conference centre in the island’s capital, Palma, has 6,365 m² of meeting facilities and can host up to 3,100 delegates. The hotel is expected to have 268 rooms along with a bar, restaurant, spa, swimming pool and additional meeting space. Commenting on the addition to the group’s portfolio on Majorca, Gabriel Escarrer, Meliá’s vice president, said "We gratefully accept the responsibility of managing this new development in a successful and sustainable way, ensuring it becomes a key location for MICE in Europe.” Additionally, Meliá recently opened its third Innside by Meliá hotel in Frankfurt, Germany. The 168-room Innside by Meliá Frankfurt Ostend is opposite the European Central Bank in the city’s Ostend district. Majorca-based Meliá now has four hotels in Frankfurt overall and 26 across Germany, of which 13 are Innside by Meliá properties.

Hotel Indigo Announced for Milan 

InterContinental Hotels Group (IHG) has signed a franchise agreement with Amapa Group for its second Hotel Indigo property in Italy. The 55-room Hotel Indigo Milan – Corso Monforte is expected to open in early 2018 in a converted historic palace building in Milan city centre, joining the 64-room Hotel Indigo Rome – St George, which opened in 2014. This isn’t the first collaboration between IHG and Amapa, as the pair joined forces for a Holiday Inn Express hotel in Rome. IHG currently has 31 hotels in operation across Italy.

Radisson Blu Opens in Mannheim 

Carslon Rezidor has opened its first Radisson Blu hotel in the southwest German city of Mannheim. The 229-room hotel is in the city’s new Q 6 Q 7 district. “The Radisson Blu Hotel, Mannheim complements the modern face and confident personality of Mannheim and is determined to showcase the best of the city and the strong business Rhine-Neckar Metropolitan region to the world,” said, Arno Schwalie, area vice president for central and southern Europe for Carlson Rezidor. The brand now has a presence in 20 locations across the country.

Grand Repositioning for London’s Sheraton Park Lane Hotel 

Marriott International’s Sheraton Hotels & Resorts brand has officially unveiled the Sheraton Grand London Park Lane this week, following the multimillion renovation of the 303-room hotel’s guest rooms and public spaces. The work has resulted in the hotel being designated as a Sheraton Grand property, the brand’s premier tier, becoming the first property in London to join the Sheraton Grand portfolio.

Mövenpick Moves into Marrakech 

Mövenpick Hotels & Resorts has opened its third hotel in Morocco and its first in Marrakech. An existing property underwent a US$100 million redevelopment and was transformed into the Mövenpick Hotel Mansour Eddahbi Marrakech. The 503-room hotel, which is owned by Kuwait-based Al Ajial Asset Company, is directly connected to the city’s Palais des Congrès Marrakech conference venue, and joins its sister properties in Casablanca and Tangier.

Join HVS at the Serviced Apartment Summit MEA 2016 

In just over a week, the Serviced Apartment Summit MEA 2016 is coming to Dubai. The event will take place over October 30-31 at the Fairmont Palm Jumeirah. HVS is a media partner of the only serviced apartment, extended-stay hotel, condo/mixed-use and short-term rental forum for the Middle East and Africa region. Additionally, HVS newsletter readers can receive a US$150 discounted ticket rate by using the promotional code SASHVS. Visit www.servicedapartmentsummitmea.com to book your tickets. Day one includes a 4 x 4 desert safari networking trip and a drinks reception and speed business card swap. Day two of the event will provide more networking opportunities alongside expert speakers and panel discussions.

Four Seasons to Make its First Appearance in Kuwait 

Four Seasons Hotels and Resorts has got together with international retail franchise operator, Alshaya to make its debut in Kuwait. The Four Seasons Hotel Kuwait at Burj Alshaya is scheduled to open in early 2017 in Kuwait City within Alshaya’s Burj Alshaya mixed-use project. The Burj Alshaya complex will comprise two glass high-rise towers; the 284-room hotel will be in the project’s 22-storey Eastern Tower, and the 43-storey Western Tower, due to be completed in 2018, will be the headquarters of Alshaya group. “Kuwait City is one of the most important commercial centres in the Gulf States, attracting regional and international business travellers, and a natural choice for Four Seasons as we continue to extend our presence across the Middle East,” commented Four Seasons’ president and chief executive officer, J. Allen Smith.

Absolute Share Price Performance Over the Past Week – 13-20 October 2016 


 

NH Hotel Group – Moody's assigned a B2-PD probability of default rating.

AccorHotels – The weak pound has helped boost AccorHotel's occupancy rates.

 

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.

 

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 Hoff, Director – HVS London ahoff@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

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