HNA Acquires 25% Stake in Hilton

Chinese conglomerate HNA Group is to acquire an equity interest in Hilton Worldwide of approximately 25% from affiliates of American group Blackstone. The transaction, which is reported to have a cash value of around US$6.5 billion (US$26.25 per share), is expected to close during the first quarter of 2017 and will see Blackstone’s share in Hilton drop to 21%. We are pleased to welcome HNA Group as a long-term investor and strategic partner," said Christopher J Nassetta, Hilton’s president and chief executive officer. "HNA Group has a broad portfolio of successful travel and hospitality businesses and a proven track record of creating value in this industry. We believe this mutually beneficial relationship will open new opportunities for our brands and guests around the world, particularly in light of HNA's strong position in the fast-growing Chinese travel and tourism market, the largest outbound travel and tourism market in the world," he continued.

Dalata Buys Freehold of Clayton Cardiff

Dublin-based Dalata Hotel Group is to purchase the freehold of the four-star Clayton Hotel Cardiff, on the south coast of Wales, for €27 million (€125,000 per room). Dalata already operates the four-star, 216-room hotel, which opened in 2011. "This transaction is consistent with our stated strategy of buying out the freehold interests of those leased properties with future unpredictable rent reviews," commented Dalata's deputy chief executive, business development and finance, Dermot Crowley.

Leonardo Expands in the Netherlands

Leonardo Hotels has announced a new project for Amsterdam. The Leonardo Royal Hotel Amsterdam is to be housed in a newly constructed 19-floor building a five-minute tram journey from the city centre. The 493-room hotel is expected to open in autumn 2018 and will be developed by Adriaan Van Erk Groep and Slavenburg Bouw BV. The hotel will become Leonardo’s second property in the Netherlands, joining the 89-room Leonardo Hotel Amsterdam City Center, which opened earlier this year in April.

Max Brown Hotels Opens its First Property in Germany

Europe Hotels Private Collection’s Max Brown Hotels brand has expanded into Germany with the opening of a hotel in Düsseldorf. The 65-room Max Brown Midtown, Düsseldorf is at the heart of the west German city, just 500 m from the Königsallee shopping boulevard. The chain currently has two hotels in operation in Amsterdam, in the Netherlands, and a further property for Germany due to open soon in Berlin.

Millennium & Copthorne Plans Its Debut in Turkey...

Millennium & Copthorne has signed a management agreement with Altin Istanbul A.Ş for its first hotel in Turkey. The Millennium Golden Horn Hotel, Istanbul is due to open in 2017, on Istanbul’s European side, in the historic Golden Horn area as part of a wider 11,000 m² urban regeneration project. The 125-room hotel will have a restaurant and bar, two terraces, one meeting room and a wellness and spa area.

...As Deutsche Hospitality Gets its Second Turkish Delight

Deutsche Hospitality has opened its second hotel in Turkey just five kilometres from Istanbul Atatürk Airport. The 209-room Steigenberger Airport Hotel Istanbul is operated under a franchise agreement by Korcan Turizm Petrol Ürünleri Ticaret Sanayi A.S and joins the 292-room Steigenberger Hotel Maslak in central Istanbul.

Dual-Branded Marriott Property Planned for Slough

Hotel management company Cycas Hospitality and Slough Urban Renewal have agreed heads of terms for a dual-branded Marriott development in the town of Slough, 21 miles west of London, in the UK. A 144-room Moxy property and a 92-unit Residence Inn will be housed in the same building and operated by Cycas under one single lease. The two hotels are expected to open before the completion of the Crossrail project in 2019. “This is an exciting time to be investing in the heart of Slough. The town is undergoing a huge transformation and will after the opening of Crossrail become a real hub between Heathrow and Central London,” said Eduard Elias, managing partner at Cycas Hospitality. “After the success of our dual branded hotels in London Stratford (Holiday Inn and Staybridge Suites), we are now implementing similar dual branded projects in Slough, Manchester and Amsterdam,” he added.

A Second Westin Opens in Egypt

Marriott International’s Westin Hotels and Resorts chain has opened its second hotel in Egypt. The Westin Cairo Golf Resort & Spa Katameya Dunes is within New Cairo’s Katameya Dunes residential community and has a 27-hole championship golf course, three food and beverage outlets and a 3,000 m² spa amongst other facilities. The 135-room property is owned by New Cairo for Real Estate Investment Company and joins sister hotel the 166-room Westin Soma Bay Golf Resort & Spa, which is in the Red Sea resort of Hurghada.

Ritz-Carlton to Make its First Appearance in Ras Al Khaimah

Marriott International’s luxury Ritz-Carlton chain has signed a management agreement with RAK National Hotels for two hotels in Ras Al Khaimah, UAE, marking the brand’s first appearance in the emirate. Two properties formerly managed by Banyan Tree will be reflagged in 2017 as the Ritz-Carlton Ras Al Khaimah Al Hamra Beach and the Ritz-Carlton Ras Al Khaimah Al Wadi Desert. Both hotels are to undergo renovations; the 32-villa Al Hamra Beach property will close during its makeover but the 101-villa Al Wadi Desert will remain open and will operate as a partner hotel until its full rebrand. The deal will see Ritz-Carlton increase its presence in the UAE to five hotels by 2017.

Absolute Share Price Performance Over the Past Week – 20-27 October 2016

 

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