EMEA Hospitality Newsletter – Week Ending 1 September 2017 (September 2, 2017)

Curio Collection Makes its UK Debut in London 

The 131-room Trafalgar St. James, overlooking London’s famous Trafalgar Square, has become Hilton Worldwide’s first Curio Collection by Hilton in the UK. The Trafalgar St. James, Curio Collection by Hilton has joined more than 35 hotels and resorts in the Curio family worldwide. "The remarkable hotel is an ideal addition to our expanding global collection of distinctive hotels and resorts, providing travellers, residents and Hilton Honors members the opportunity to discover Central London in a unique and memorable way," commented Mark Nogal, global head, Curio Collection by Hilton.

Fragrance Group Buys Townhouse Hotel in Manchester 

Singaporean property and investment company Fragrance Group has made its third UK hotel acquisition of the year with the purchase of the 85-room Townhouse Hotel Manchester, in northwest England, for £12.5 million (£147,000 per room) from Dublin-based Harcourt Developments. The Grade II-listed property, on Portland Street in Manchester city centre, was first built in 1870 and became a hotel in 1982.

A Hyatt Centric Resort Announced for Turkey 

An affiliate of Hyatt Hotels Corporation has signed a franchise agreement with Özkent Girisim Gayrimenkul Yatırım ve Ticaret A.S. for the group’s fifth Hyatt-branded hotel in Turkey and its first property in the country to open under its full-service lifestyle Hyatt Centric brand. The Hyatt Centric Yalikavak Bodrum is expected to open in the middle of 2019 in Bodrum on Turkey’s southwest coast. The 77-room hotel will have five food and beverage outlets, a spa and indoor and outdoor swimming pools.

IHG Makes its First Appearance in Slovenia 

InterContinental Hotels Group (IHG) has made its first appearance in Slovenia with the opening of the InterContinental Ljubljana. The 165-room hotel, at the centre of the Slovenian capital, is housed in a 20-storey building a short walk from Ljubljana Castle. "Slovenia is a country of rich diversity, fusing multiple European influences in its food, culture, design and landscape – InterContinental Ljubljana brings this together in one very sophisticated and stylish offering," said Tom Rowntree, Vice President Brand Management, Luxury & Boutique Brands Europe at IHG.

Puneet Chhatwal to Leave Deutsche Hospitality 

Puneet Chhatwal is to step down from his role as chief executive officer of Deutsche Hospitality at the end of 2017. After working in the hospitality industry in Europe for 30 years, spending the past five years with Deutsche Hospitality, Dehli-born Mr Chhatwal plans to return to India, where he has been appointed as managing director and chief executive officer of Indian Hotels, which runs the Taj chain of hotels.

Iberostar to Enter Portugal in Autumn 

Spanish hotel group Iberostar is planning its Portuguese debut in early October with the opening of a 166-room hotel in the capital, Lisbon. Iberostar currently operates 100 hotels across 17 countries worldwide.

Isrotel Opens its First Hotel in Jerusalem 

Isrotel has opened its first property within Israel’s capital, Jerusalem: The Orient Jerusalem, which is a mix of old and new, housed across a newly constructed central building and two preserved Templar buildings dating from 1882 and 1883. The 243-room hotel is at the centre of the city’s German Colony district, a short walk from the Old City, and is part of the Israeli chain’s Exclusive Collection, which now comprises six hotels.

Four Seasons Moves into Kuwait 

Four Seasons Hotels and Resorts has arrived in Kuwait with the opening of the Four Seasons Hotel Kuwait at Burj Alshaya in Kuwait City. The 284-room hotel is within the new two-tower mixed-use Burj Alshaya development. Among the hotel’s many facilities are five restaurants and lounges and a two-level spa.

New Courtyard and Residence for Dubai 

Marriott International has signed an agreement with Khamas Group of Investors LLC for two new hotels in Dubai, UAE. A 150-room Courtyard by Marriott and a 100-room Residence Inn by Marriott are expected to open in 2020 in the emirate’s Jumeirah Village Circle development, a 25-minute drive to the main site of the World Expo in 2020. The two proposed properties will be interconnected and will share facilities, including food and beverage outlets, a health and leisure club and meeting facilities.

Absolute Share Price Performance Over the Past Week – 24-31 August 2017 

 

Millennium & Copthorne – Securities analysts have revised their ratings and price targets on several European companies, including Millennium & Copthorne Hotels.

 

 

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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