EMEA Hospitality Newsletter – Week Ending 6 October 2017 (October 7, 2017)

AccorHotels Hops Aboard the Orient Express 

AccorHotels has purchased a 50% stake in luxury train company Orient Express from French state-owned railway firm SNCF Group for an undisclosed sum. AccorHotels now plans to develop a chain of upmarket Orient Express branded hotel; the Orient Express name was drop from a collection of 45 luxury hotels and travel experiences three years ago, and this collection has since been reflagged as Belmond. Commenting on the acquisition, Sébastien Bazin, AccorHotels’ chairman and chief executive said that the partnership with SNCF Group “cements the alliance of two major French players in the world of travel for a shared purpose, that of giving fresh impetus and international standing to an historic and world-renowned brand”.

Aprirose Purchases QHotels 

Real estate investment company Aprirose has acquired the QHotels chain from Bain Capital Credit and Canyon Partners for £525 million (£143,000 per room). The portfolio comprises 26 four- and five-star hotels across the UK (3,677 rooms). “Our strategy is to double the value of assets under management, while at the same time exiting from maturing transactions. This acquisition is part of a wider strategy and takes our portfolio to circa £1.7 billion of assets under management,” Gary Jones, chief operating officer at Aprirose. Redefine|BDL Hotels will manage the hotels.

New Owner for Munich’s Ruby Lily 

Patrizia has purchased the Ruby Lily Hotel in Munich, Germany, from Art-Invest Real Estate for an undisclosed sum. Art-Invest converted the eight-story former office block building into a hotel in 2016 and the 174-room Ruby Lily, which is leased to Ruby Hotels & Resorts for a 25-year term, opened in February 2017.

Two UK ibis Hotels Sold 

Indian firm Luxmi Group has acquired the 51-room ibis Birmingham City Centre and the 52-room ibis Coventry South, in England’s Midlands region, from Nine Group for £5 million (£48,500 per room). The deal marks Luxmi’s first foray into the UK hotel sector; the group was originally founded in 1912 as a producer of tea.

More Meliá for Italy 

Meliá Hotels International is expanding its presence in Italy with a hotel on Venice’s Grand Canal, close to the city’s iconic St Mark’s Square, and a new hotel in Rome under its Innside by Meliá brand. In Venice, an existing hotel, in an old hospice, is to undergo a thorough refurbishment and is scheduled to open at the end of 2018 as the five-star, 79-room Gran Meliá Ca’ di Dio. The Innside Porta Maggiore, in Rome’s trendy Esquiliono district, is expected to open in 2019 with 171 rooms. Both hotels are owned by Salute Hospitality Group.

Park Inn Pops Up in Ukraine 

Carlson Rezidor has opened its first Park Inn by Radisson property in Ukraine. The Park Inn by Radisson Troyitska is at the centre of the country’s capital and largest city, Kyiv, close to the National Olympic Stadium and many of the city’s historic and cultural sites. The 196-room hotel is operated by The Rezidor Hotel Group and Ukraine-based Smart-Holding invested in the project, which is Rezidor's fourth hotel in Ukraine overall.

Hilton Opens its Second Hotel in Morocco 

Hilton Worldwide has opened its second property in Morocco: the Hilton Tanger City Center Hotel & Residences, which is 15 km from Tanger Ibn Battouta Airport in the northern city of Tangier. The 180-room hotel joins sister property in Tangier, the 320-room Hilton Garden Inn Tanger City Centre. The group will increase its portoflio in the country to three next summer when it opens a hotel in the seaside resort of Al Houara, just south of Tangier.

Holiday Inn Chain Makes its Debut in Qatar 

In partnership with Trans Orient Group, InterContinental Hotels Group has opened its first Holiday Inn hotel in Qater. The new-build 307-room Holiday Inn Doha – The Business Park is on Al Matar Street, adjacent to the Crowne Plaza Doha – The Business Park, in Doha’s business and financial district; it is the group’s 24th Holiday Inn property in the Middle East region.

Absolute Share Price Performance Over the Past Week – 28 September-5 October 2017 

 

Hyatt Hotels – will release third-quarter 2017 financial results on Thursday 2 November 2017.

NH Hotel Group – expects to deliver EBITDA of around €300 million in 2019.

 

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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