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EMEA Hospitality Newsletter – Week Ending 11 November 2016 (November 12, 2016)

AccorHotels to Acquire Stake in 25hours Hotels 

AccorHotels is to acquire a 30% stake in the capital of German group 25hours Hotels, which currently operates eight boutique properties across Germany, Austria and Switzerland. AccorHotels will form a strategic alliance with 25hours and work to expand the brand globally. 25hours’ chief executive officer, Christoph Hoffmann, will continue to run the group. “Through this partnership, AccorHotels is investing further in one of the fastest growing segments in the industry and enriching its offer to achieve scale in this segment. Today, we are going one step further in our strategy to be a global leader in lifestyle hotels,” said Sébastien Bazin, chairman and chief executive officer of AccorHotels.

Terra Firma Buys Welcome Hotels 

Terra Firma, a private equity firm led by UK hotelier Guy Hands, has purchased a portfolio of 12 Welcome Hotels in Germany from Haus Cramer Group for an undisclosed sum. The three- and four-star hotels will now undergo full renovations. “Terra Firma will be investing significantly in the business to maintain and enhance the customer experience, and we will also look to grow the business further on the back of its strong existing estate,” commented Guy.

Club Company to Tee Off at the Woodbury Park Hotel 

Golf and health club owner and operator the Club Company has purchased the Woodbury Park Hotel and Golf Club in Exeter, southwest England, from Sue and Robin Hawkins off a guide price of £11.75 million. The 56-room country house hotel, once owned by former racing driver Nigel Mansell, is set in 246 acres of grounds with two golf courses. The Club Company now operates 12 country clubs across England.

W Heading to the Algarve 

Marriott International’s W Hotels Worldwide chain is to make its first appearance in Portugal with a hotel on the country’s famous Algarve coast. The W Algarve is scheduled to open in 2018 on 250,000 m² of beachfront. The 134-room property, which is owned by Nozul Algarve, S.A., will also include 81 branded residences available for purchase. The hotels will become the third W Escape property (a new portfolio of W hotels in ski, coast and entertainment destinations worldwide) to open in Europe.

Radisson Blu to Sail into Rostov-on-Don 

Carlson Rezidor has signed an agreement with Russian holding group AGROCOM GROUP that will see it manage and operate its first hotel in the port of Rostov-on-Don, in southern Russia. The 81-room Radisson Blu Hotel, Rostov-on-Don will open in the centre of the city in early 2017. The hotel will showcase the brand’s new BluPrint interior design. Carlson Rezidor now has 37 hotels (more than 10,300 rooms) in operation or under development across Russia.

Apollo’s Tribute to Amsterdam 

The Apollo Hotel Amsterdam in the Netherlands is to become part of Marriott International’s Tribute Portfolio. The 223-room hotel will join the collection of independent hotels in April 2017 after a thorough renovation of its rooms, restaurant and public areas. The hotel is in Amsterdam’s upscale Oud-Zuid area, overlook one of the city’s many canals. "Amsterdam's characteristic free-spirit and open-mindedness make it a perfect fit for this indie-inspired brand. We are thrilled to be working with Apollo Hotels & Resorts to deliver truly distinctive experiences to our guests staying at this unique property," commented Brian Povinelli, senior vice president and global brand leader for Tribute Portfolio. The brand already has a presence in Europe, in London and Paris, and 28 hotels in operation or in the pipeline worldwide.

YOTEL Flies into Paris’ CDG 

Pod-style hotel chain YOTEL has opened its first hotel in France at Paris’ Charles de Gaulle Airport. The 80-room YOTELAir Paris Charles de Gaulle is the only hotel in the secure transit area of Air France and SkyTeams’ terminal. The group operates hotels at three other airports – Heathrow and Gatwick in London and Schiphol in Amsterdam.

Scandic to Double its Portfolio in Drammen 

Scandic Hotels has signed an agreement with Norwegian firm Utstillingsplassen Eiendeom A/S to take over the Ambassadeur Hotel and the Globus Hotel in Drammen, Norway’s fifth largest city, from January 2017. Both properties, on Strømsø square, will undergo a renovation and will be converted into one approximately 300-room hotel. “Drammen is one of Norway’s fastest growing hotel markets,” said Frank Fiskers, Scandic’s president and chief executive officer. “This takeover will further strengthen our position in the market,” he added. Scandic currently operates one hotel in Drammen, the 100-room Scandic Park Drammen.

Rocco Forte Making its Middle Eastern Debut 

Rocco Forte Hotels is all set for the soft opening of its first hotel in the Middle East next week, marking the start of the group’s expansion in the region. The 147-room Assila Hotel is in Jeddah, Saudi Arabia, at the heart of the city’s central business and shopping district on Prince Mohammed bin Abdulaziz Street. This opening brings Rocco Forte’s portfolio up 11 hotels (ten in Europe).

Absolute Share Price Performance Over the Past Week – 3-10 November 2016 


 

Pandox – Third-quarter profit amounted to SKr592 million.

Millennium and Copthorne – Credit Suisse reaffirmed its neutral investment rating and raised the price target to 420p from 400p.

 

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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