HVS EMEA Hospitality Newsletter – Week Ending 16 June 2017 (June 17, 2017)

Raffles to Make its UK Debut in London 

AccorHotels’ luxury Raffles Hotels & Resorts chain has signed a long-term management contract with the Hinduja Group and Obrascon Huarte Lain Desarrollos (OHLD) that will see the the Grade II*-listed Old War Office building in London’s Whitehall district transformed into a Raffles hotel, the first of its brand in the UK. Hinduja and OHLD purchased the building in December 2014 and received planning permission for mixed-use development including 125 guest rooms, 88 private residence, food and beverage outlets and other facilities. The development is expected to be completed over the next three years.

Aviva Purchases Two Properties in Munich 

Aviva Investors Real Estate France has purchased two hotels in the Bavarian city of Munich, in southeast Germany, from AXA Investment Managers – Real Assets (acting on behalf of its clients) for an undisclosed sum. The hotels included in the deal are the 147-room ibis Munich Parkstadt Schwabing and the 149-unit Novotel Suites München Parkstadt Schwabing. The properties were acquired as part of Aviva’s partnership with hotel investor and operator Algonquin.

New Owner for London Qbic 

An affiliate of New York-based Cerberus Capital Management has acquired the Qbic London City from Bridges Fund Management for an undisclosed sum. The 171-room hotel, which opened in 2013, was converted from a disused office building in East London. It is the only Qbic-branded property in the UK capital and one of two Qbic hotels worldwide (the Qbic Amsterdam WTC marked the brand’s launch in 2007).

Barcelona Football Star Buys Hotel in Sitges 

Argentinian footballer Lionel Messi (who currently plays for FC Barcelona) has bought a four-star, 77-room hotel in the seaside town of Sitges, close to Catalan capital Barcelona, for a reported €30 million (€390,000 per room) from local businessman Francisco Sánchez. The hotel, which is now called the Hotel MiM Sitges, will be run by the Majestic Group.

Luxury Collection Welcomes its First Ever Ski Resort Property 

The Cristallo Resort & Spa in the town of Cortina, in Northern Italy’s Alps, is to join Marriott International’s Luxury Collection chain this month. The hotel, which is owned and managed by the Gualandi family, has undergone a redesign of its 74 guest rooms and suites and the lobby. The second phase of the renovation will be completed by December 2017 in time for the ski season. The hotel is the Collection’s first hotel in Corina, its first ski resort worldwide and its eighth hotel in Italy overall.

New Park Inn by Radisson Announced for Belgium 

Carlson Rezidor has signed a new-build Park Inn by Radisson hotel for Belgium. When it opens in 2020, the Park Inn by Radisson Liège will be the group’s ninth Park Inn by Radisson-branded property in Belgium. The 100-room hotel is being developed by Bricks & Leisure Real Estate in Liège city centre, in Belgium’s French-speaking Wallonia region. “Over the last 18 months, the Park Inn by Radisson portfolio in Belgium has more than doubled. It has also been the fastest growing hotel brand since 2013 in the Belgian mid-market hotel segment," said Elie Younes, HVS alumnus and executive vice president and chief development officer for The Rezidor Hotel Group. The group currently has 15 hotels in operation across Belgium overall.

Days Inn Makes its First Appearance in France 

Wyndham Hotel Group’s Days Inn brand has made its debut in France with the opening of the Days Inn Nice Centre, at the heart of the seaside city of Nice, on the French Riviera. The 64-room hotel is close to Nice-Ville railway station, the city’s congress centre and Nice Côte d'Azur Airport. French hotel operator Parfires, along with its partner, 123 Investor Managers, will operate the Days Inn Nice Centre under a franchise agreement.

NH Adds to its Collection in Brussels 

NH Hotel Group has opened its second hotel under its upper upscale NH Collection brand in the Belgian capital, Brussels. The 192-room NH Collection Grand Sablon is in the city’s Sablon district and joins sister property, the 241-room NH Collection Brussels Centre. NH Collection now counts 68 hotels across 13 countries worldwide.

Leonardo Opens its First Hotel in Scotland 

Leonardo Hotels has opened its first hotel in Scotland, UK. The group has invested more than €7 million in refurbishing the former 282-room Premier Inn in Edinburgh’s Haymarket district and reflagged it as the Leonardo Royal Hotel Edinburgh, bringing the brand’s portfolio to over 80 hotels across more than 40 locations.

Foremost Hospitality Opens the Holiday Inn Express Hotel Freiburg 

After a 15-month construction period, Foremost Hospitality has opened the Holiday Inn Express Hotel Freiburg – City Centre, in the city of Freiburg in southwest Germany’s Black Forest. The 130-room, six-storey hotel, just a few minutes away from Freiburg’s main railway station, is Foremost’s 13th hotel in Germany and its second in the state of Baden-Württemberg. This opening marks the second joint project between foremost and the hotel’s developer, STRABAG Real Estate GmbH.

More RICS for HVS 

HVS is pleased to announce that Sophie Perret, a director with the London office, has attained her Royal Institution of Chartered Surveyors (RICS) accreditation. Sophie joined HVS in 2003, following ten years’ operational experience in the hospitality industry in South America and Europe. Since joining HVS, Sophie has advised on hotel valuations and investment projects and related assignments throughout the EMEA region, and is responsible for the development of HVS’s business across Europe.

IHG Signs Exclusive Deal to Expand in Kuwait 

InterContinental Hotels Group (IHG) has signed an exclusive agreement with Bukhamseen Group Holding Company to expand its presence in Kuwait. IHG already operates three properties in Kuwait in partnership with Bukhamseen and this new agreement grants countrywide exclusivity to Bukhamseen for a ten-year term, covering six IHG brands. Pascal Gauvin, chief operating officer in India, Middle East and Africa for IHG commented, “Our relationship with the Bukhamseen group goes back over three decades, and together we have established a strong presence for IHG in Kuwait, with three operational hotels and one under construction. Each one of these hotels has a successful legacy in the country and we are confident that our future ventures together will follow suit.”

Hilton Resort Announced for Yas Bay Development in Abu Dhabi 

Hilton Worldwide has partnered with Miral to develop the Hilton Abu Dhabi Yas Island Resort. The hotel will be part of Miral’s AED12 billion (€2.9 billion) mixed-use Yas Bay development, stretching across three kilometres of waterfront on the southern end of the man-made Yas Island, off the coast of Abu Dhabi. The 641-room hotel is scheduled to open in 2019.

Absolute Share Price Performance Over the Past Week – 8-15 June 2017 

 

Meliá Hotels International – Meliá and Ctrip will increase their cooperation on data, marketing and services of the Spanish hotel company on the Chinese OTA.

Hyatt Hotels – The group's Hyatt House brand has made its debut in Latin America with the opening of the Hyatt House Mexico City/Santa Fe.

 

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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