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

Dalata Buys the Hotel La Tour Birmingham 

Dalata Hotel Group has purchased the Hotel La Tour Birmingham in the UK for £31 million (£178,000 per room) from Hotel La Tour by acquiring the entire share capital of the 174-room property. The hotel, on Park Street in Birmingham city centre, was constructed in 2012 and will be reflagged as a Clayton hotel in the fourth quarter of 2017.

Cairn Group Purchases Two Hotels in Aberdeen 

Newcastle-based Cairn Group has purchased the 155-room Holiday Inn Aberdeen Express City Centre and the 86-room Holiday Inn Aberdeen West out of administration for an undisclosed sum. Both properties, in the port of Aberdeen in northeast Scotland, will continue to operate under existing franchise agreements with InterContinental Hotels Group (IHG). Commenting on the acquisition, Richard Warren, Cairn Group’s finance director, said, “We know Aberdeen very well and have a strong existing relationship with IHG so we are confident we can turn around the fortune of the hotels as the market recovers. We're looking forward to doing more business here and investing in the economy."

Villa at Henrietta Park Sold and Last Hotel Collection Property Goes 

Other hotel sales across the UK this week include Bird Hospitality’s acquisition of the Villa at Henrietta Park, in the southwest England city of Bath, from Kaleidoscope Collection for an undisclosed sum. The 21-room hotel, housed across two restored Victorian properties, will be rebranded under Bird’s Roseate Hotels and Resorts collection, joining two other Roseate properties in the UK (in London and Reading). Additionally, a private investor has acquired the ninth and only remaining property on the market from Hotel Collection portfolio for an undisclosed sum. The 148-room Shrigley Hall Hotel with its 18-hole championship golf course, near Macclesfield in northwest England, is now being managed by real estate firm, Prahi. The Victorian country house hotel, set in 262 acres of grounds, is on the edge of the Peak District national park.

Estonia Gets its first Autograph Collection Hotel 

Marriott International’s Autograph Collection has welcomed its first hotel in Estonia. The latest property to join the group’s collection of independent hotels is the Hotel Telegraaf in Tallinn city centre. The 83-room hotel’s historic building, on Vene Street, dates from 1878 and once housed Estonia’s telephone and telegraph office. “With its rich history, iconic architecture, and curated design, this hotel perfectly embodies the brand’s exactly like nothing else mantra and is a welcome addition to our distinguished portfolio of over 110 hotels worldwide,” said John Licence, VP Premium & Select Brands Europe.

Hilton Worldwide to Make its Debut in Antalya and Turin 

Hilton Worldwide has signed a franchise agreement with hoteliers Hasançebi İnşaat Turizm Yatırımları ve Ticaret Anonim Şirketi for its first property in the Turkish resort of Antalya, in the country’s southwest Mediterranean region. The 324-room DoubleTree by Hilton Antalya Kemer is expected to open at the beginning of 2018. The waterfront hotel will have its own private beach and will be the first DoubleTree resort property in Turkey. Also this week, Hilton has signed a franchise agreement with Lingotto Hotels S.r.l. for its first hotel in the Italian city of Turin. The NH Lingotto Tech is to undergo a €1.6 million refurbishment and will be rebranded in early 2018 as the 142-room DoubleTree by Hilton Turin Lingotto.

Luxury Collection to Make its Debut in Hungary 

Marriott International has signed an agreement with Özyer Group to launch its Luxury Collection brand in Hungary. The hotel will be housed in the landmark Matild Place building on the gateway to the Elisabeth Bridge, over the River Danube, in Budapest. The building was originally constructed between 1899 and 1902. The 130-room Matild Palace, a Luxury Collection Hotel is expected to open in early 2019.

A Second Nhow Hotel for Germany 

NH Hotel Group has announced plans for its second nhow hotel in Germany, joining the existing nhow Berlin. The nhow Frankfurt is scheduled to open at the beginning of 2021 in Frankfurt’s European Quarter, within the 190-metre-high ONE skyscraper. The 375-room hotel will be housed across the lower 14 storeys of the 49-floor building. The hotel will be close to the Kap Europa conference centre, the Skyline Plaza and the Messe. The Spanish group currently has seven NH-branded hotels in operation in Frankfurt.

Swissôtel Set to Swing into the UAE 

AccorHotelsSwissôtel Hotels & Resorts chain is set to make its first appearance in the UAE. The 428-room Al Ghurair Rayhaan and the 192-unit Al Ghurair Arjaan, at Dubai’s mixed-use Al Ghurair Centre complex in Deira, will be rebranded as Swissôtel and Swissôtel Living properties, respectively. The first phrase of the reflag is expected to be completed by the end of 2017.

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

 

Rezidor Hotel Group – EBITDA for the second quarter of 2017 amounted to €28.4 million.

InterContinental Hotels Group – Will announce its interim results to 30 June 2017 on 8 August 2017.

 

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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