Recently Opened Park Plaza London Waterloo Sold

CBRE Global Investors has purchased the recently opened Park Plaza London Waterloo, in central London, for approximately £160 million (£324,000 per room) from PPHE Hotel Group on behalf of ten of its pension fund investors. The 494-room hotel, close to Waterloo Station, has been sold on a sale and long-term leaseback basis.

CDL Buys Majority Share in the Pullman Munich Hotel

CDLHT Munich One Pte. Ltd (a fully owned subsidiary of Singapore-based CDL Hospitality Trust) has acquired a 94.9% share in the Pullman Hotel Munich in southeast Germany for €98.9 million from NKS Hospitality. The deal comprises a mixed-use complex in the Bavarian capital that includes the purpose-built 337-room hotel and several office and retail units. This hotel originally opened in 1986 and was flagged as a Pullman property in 2012; it is now one of seven Pullman-branded hotels across Germany. EVENT Hotels will continue to operate the hotel under its current brand.

Hispania Acquires the Fergus Tobago Hotel

Hispania has purchased the Fergus Tobago Hotel, on the Spanish Balearic island of Mallorca, for €20.2 million (€73,500 per room), bringing the real estate investment trust’s portfolio of owned hotels up to 39 (approximately 11,300 guest rooms). The three-star, 275-room Fergus Tobago is on the beachfront in Palmanova. Hispania now plans to invest a further €10 million to fully refurbish the three-star hotel; the work is due to start at the end of the 2018 season.

AC Hotels by Marriott Makes its First Foray into Mainz

Marriott International’s AC Hotels by Marriott brand has made its first appearance in Germany. A historic building at the heart of Mainz, in southwest Germany, has emerged from a renovation as the AC Hotel Mainz. The 58-room hotel is close to the city’s main railway station and Old Town.

Bespoke Purchases the Roxburghe Hotel & Golf Course

Bespoke Hotels is to acquire the 22-room Roxburghe Hotel & Golf Course in Kelso, in the UK’s Scottish Borders region, from the Duke of Roxburghe’s Roxburghe Estates for an undisclosed sum. The transaction is expected to close at the end of July and the hotel will join Bespoke’s portfolio.

Autograph Collection Becomes Three in Madrid…

The Hotel Círculo Gran Vía in Madrid has become the third hotel in the Spanish capital to join Marriott International's Autograph Collection. A neo-classical building on Gran Via underwent a multimillion euro renovation to transform it into the 71-room boutique adults-only hotel and casino. The building, originally constructed in the 1920s, is the former home of the Merchants and Industrialist’s Circle gentlemen’s club, and it was also the meeting place of Madrid’s famous literary society, the Bilis Club. “With its grand architecture and carefully curated design that nods to the building’s rich history, Hotel Círculo Gran Vía, Autograph Collection evokes the spirit and heritage of this captivating city and embodies our Exactly Like Nothing Else brand philisophy perfectly,” commented John Licence, VP Premium & Select Brands Europe for Marriott International.

…As Curio Collection Makes its Debut in France

Hilton Worldwide has opened its first Curio Collection by Hilton property in France. The Grand Hotel Des Sablettes Plage, Curio Collection by Hilton overlooks the beach of Les Sablettes, on the French Riviera. The 75-room hotel is housed in a 19th-century building in the coastal city of La Seyne sur Mer, just ten kilometres from Toulon. The Curio Collection chain is set to open a second property in Paris in the third quarter of 2017.

Fairmont’s First Appearance in Turkey

AccorHotels has opened its first Fairmont-branded property in Turkey with the opening of the Fairmont Quasar Istanbul. The 209-room hotel was developed on the site of a 1930s Art Deco liquor factory, at the heart of Istanbul’s main business district, Mecidiyeköy. As well as a diverse selection of food and beverage facilities and a spa, the hotel also includes 64 Fairmont Residences. AccorHotels now operates five hotels in Istanbul overall.

Staybridge Suites Set to Stay in Saudi Arabia

InterContinental Hotel Group’s (IHG) extended stay Staybridge Suites brand has made its debut in Saudi Arabia with the opening of the Staybridge Suites Jeddah Alandalus Mall. The hotel has 164 studios and one- and two-bedroom suites. Its location at the Alandalus Mall means the property will also benefit from seven meeting rooms, a banqueting hall, an outdoor swimming pool and a business centre. “We believe our unique offering, coupled with an excellent location near the heart of Jeddah, will allow Staybridge Suites to serve the needs of Saudi Arabia’s families, religious and leisure tourists, and business travellers alike,” said Pascal Gauvin, IHG’s chief operating officer for India, the Middle East and Africa.

Absolute Share Price Performance Over the Past Week – 22-29 June 2017

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