HVS EMEA Hospitality Newsletter – Week Ending 28 April 2017 (April 29, 2017)

M&G Real Estate Acquires Ground Lease for Edinburgh Courtyard by Marriott 

London-based property investment company M&G Real Estate has purchased the 150-year ground lease of the Courtyard by Marriott Edinburgh, in Scotland, for £23 million. The 240-room hotel, which opened near the end of 2016, is housed across three historic Georgian townhouses in the city centre, featuring a contemporary extension to the back of the property.
 

New Owner for the Cambridge Belfry 

Investment company Lxi REIT has purchased the Cambridge Belfry hotel for £18.5 million (£154,000 per room) from an undisclosed seller. The 120-room, four-star hotel, on the outskirts of the university city of Cambridge 50 miles north of London, is operated by The QHotels Group, which has a portfolio of 26 hotels across the UK. Lxi now owns six properties either in operation or under development across the country.
 

Paramount to Premier its First Hotel in Bodrum 

Better known for making movies, film production company Paramount is moving into the hotel business next month when it opens its first ever hotel in the resort of Bodrum in Turkey, on the Aegean Sea. The Bodrum by Paramount Hotels & Resorts will have 134 suites and villas and will be based around a cinematic and entertainment concept. The brand has plans to expand with a residences project due to open in Riyadh, Saudi Arabia, by the end of the year and a further two properties in the pipeline for Qatar and Dubai expected to open in 2018.
 

Moxy Makes an Entrance at Frankfurt Airport 

Marriott International’s Moxy Hotels chain has opened its fourth property in Germany: the Moxy Frankfurt Airport, which brings the brand’s global portfolio up to ten properties in operation. The 305-room hotel is around five kilometres from the airport and 15 kilometres from Frankfurt city centre, a major finance hub on the River Main.
 

Radisson Parks its Latest Hotel in Samsun 

Carlson Rezidor has opened its first Park Inn by Radisson property in the city of Samsun, on northern Turkey’s Black Sea coast. The Park Inn by Radisson Samsun is in the Tekkeköy Industrial Zone, 11 km from the city centre. The 140-room hotel is the second of its brand to open in Turkey this year and brings the number of Park Inn by Radissons in operation in the country to four.
 

Viceroy to Hit the Slopes in Serbia 

US-based Viceroy Hotel Group has announced plans to open a ski resort in Serbia. The 120-room Viceroy Kopaonik Serbia, the result of a partnership between Viceroy and real estate developer KPI D.O.O. Belgrade, is expected to open in 2018 in the Kopaonik ski resort, the largest in Southeast Europe. The hotel will be Viceroy’s second ski destination. Viceroy now has three developments in its pipeline for Europe and will be making its first appearance in the region in spring 2018, with the opening of the 77-room Viceroy Princes’ Islands Istanbul in Turkey.
 

Scandic to Sweep into Landvetter Airport 

Nordic chain Scandic Hotels has signed an agreement with Swedavia to operate a Scandic hotel at Landvetter Airport in Gothenburg, on Sweden’s west coast. Construction is expected to start on the 220-room, seven-storey hotel next year and it is scheduled to open in 2020, when it will become Scandic’s ninth airport hotel across the Nordic countries. Scandic currently operates five hotels in Gothenburg and a further two properties in the surrounding region.
 

Aloft Rises in Al Ain 

Marriott International has opened its first Aloft property in the city of Al Ain in the emirate of Abu Dhabi. The Aloft Al Ain is owned by developer Al Qattara Investments and is part of the city’s 500,000 m² mixed-use Hazza Bin Zayed Stadium development. The 175-room hotel is the second of its brand in the UAE and the fourth Aloft to open in the Middle East overall. Marriott intends to extend the brand further in the region by opening ten new Aloft hotels within the next five years.
 

Rotana Continues its Expansion in Oman 

Rotana has signed a management agreement with Oman-based Golden Group Holding (GGH) for a new hotel in Muscat. The Al Mouj Rayhaan by Rotana will be part of the Omani capital’s mixed-use Al Mouj development, a tourist complex spread across six kilometres of coastline including hotels, luxury residences, retail space, food and beverage outlets, a private yachting hub and the country’s only signature PGA-standard 18 hotel links golf course. The 250-room Al Mouj Rayhaan by Rotana is due to open before 2020. “Rotana has ambitious plans for the Oman market, with no less than nine hotels set to open in the Sultanate by 2020, and we are delighted to have a company of the stature, reputation and financial strength of GGH as a key strategic partner in our efforts to transform Oman’s hospitality landscape and continue our company’s expansion in the region,” said Rotana’s chairman, Nasser Al Nowais. Rotana currently operates one hotel in Oman: the 400-room Salalah Rotana Resort.

Absolute Share Price Performance Over the Past Week – 20-27 April 2017 

 

AccorHotels – Has been boosted by 'very brisk' sales in the UK following the fall in the value of the pound sterling.
Whitbread – Credit Suisse has issued a broker note on Whitbread.
Wyndham Worldwide – Has released its first quarter results.

 

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
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, Senior Director – HVS Milan epoinelli@hvs.com
Louise Fury, Senior Editor and EMEA Hospitality Newsletter Author – HVS London lfury@hvs.com

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