EMEA Hospitality Newsletter – Week Ending 13 October 2017 (October 14, 2017)

Deka Immobilien Acquires the W Amsterdam 

The sale of the W Amsterdam in the Netherlands was announced this week. The 238-room hotel, which is split across two buildings (a former telephone exchange building, originally the Royal Dutch Post’s main communication centre, and the KAS Bank building) was acquired by Deka Immobilien for €260 million (approximately €1.09 million per room) from Europe Hotels.

New Owners for Galway’s Radisson Blu  

MHL Hotel Collection and hotelier and developer Jerry O’Reilly have formed a partnership to purchase the Radisson Blu Hotel & Spa, Galway in Ireland for an estimated €50 million (€192,000 per room). The 261-room hotel, which enjoys views of Lough Atalia in the west coast city of Galway, was part of a €600 million portfolio of loans placed on the market by Ireland’s National Asset Management Agency earlier this year. The hotel will continue to be operated by The Rezidor Hotel Group. The deal brings the number of hotels across Ireland owned by MHL to 13. 

W Hotels Heading to Rome… 

Marriott International’s contemporary lifestyle brand W has announced plans to open a hotel in Rome, marking the chain’s first appearance in Italy. The W Rome is to be housed across two historic 19th-century buildings on Via Liguria in the city’s Vento district, near to the Spanish Steps, and will be developed by Omnam Group. The 159-room hotel is expected to welcome its first guest in 2021.

…As Autograph Collection Opens its Fourth Hotel in Germany 

Marriott International’s Autograph Collection has increased its presence in Germany with the opening of the Roomers Munich, the collection’s fourth hotel in the country. The 281-room hotel is in the city’s Westend district. “With its unparalleled location, immersive design and bespoke dining experiences, Roomers Munich perfectly embodies the exactly like nothing else ethos of the brand,” commented Brian Povinelli, senior vice president and global brand leader with Autograph Collection Hotels. “We are thrilled to welcome it to our growing global portfolio of 125 distinctive hotels around the world,” he added.

Hampton by Hilton Moving to Manchester 

Hilton Worldwide’s Hampton by Hilton brand is planning to open its first hotel in the UK city of Manchester in early 2020. The new-build, 221-room Hampton by Hilton Manchester Northern Quarter will be managed by Redefine|BDL Hotels. "The regeneration of Manchester's Northern Quarter has brought new investment into the city, resulting in a vibrant, creative neighborhood – the ideal location in which to introduce our first Hampton by Hilton hotel,” said Patrick Fitzgibbon, senior vice president of development for the EMEA region at Hilton.

Meet Russell Kett at HOSPACE 

HOSPACE is a one-day annual conference and exhibition hosted by HOSPA the Hospitality Professionals Association. It is being held at The Royal Lancaster Hotel in London on 2 November 2017. There is an excellent programme of topics with some of the best speakers in the hospitality sector. HVS London’s chairman, Russell Kett, will be pleased to see you there. It is aimed at owners, franchisees, accountants and financial controllers, asset managers and other senior professionals in the hospitality sector. After the conference there is an optional gala dinner at which three leadership awards will be presented – for Hospitality Finance, Hospitality Technology and Hospitality Revenue Management. Book directly via the HOSPA Shop or contact the organisers at hospa@hospa.org.

Oryx Plans Plenty of Places to Sleep in Finland 

Finland’s second Place to Sleep hotel is due to open in the town of Rauma, on the country’s west coast, at the beginning of 2018. The self-service budget hotel will have 26 rooms and will join sister property the 22-room Place to Sleep Hotel Loviisa. The company behind the brand, Oryx Invest, plans to target several locations in Finland, and the next Place to Sleep property is expected to open in Liminka in August 2018.

DoubleTree by Hilton Announced for Kigali 

Hilton Worldwide is to make its first appearance in Rwanda, East Africa, with a DoubleTree by Hilton hotel in the capital, Kigali. The 153-room Ubumwe Grande Hotel, which opened in September 2016, is to undergo some changes to bring it in line with DoubleTree brand standards and is scheduled to be reflagged at the beginning of next year. The hotel is owned by a consortium of investors.

New Lodgings for Namibia 

South Africa-based City Lodge Hotel Group has opened its first hotel in Namibia, in southwest Africa, as part of its ZAR1 billion expansion across the continent. The 147-room Town Lodge Windhoek is in The Steps Development in the Kleine Kuppe area of the Namibian capital. The hotel is the third Town Lodge property to open outside South Africa, and brings the brand portfolio up to 13 hotels overall.

A New Coral Hotel for Dubai 

Hospitality Management Holding (HMH) has signed a management agreement for its second hotel in Dubai. The former Auris Plaza Hotel is now the 337-room Coral Dubai Al Barsha Hotel. The hotel is in Dubai’s vibrant Al Barsha area and joins sister hotel in the emirate, the 147-room Coral Dubai Deira Hotel. HMH now has four properties in the United Arab Emirates overall.

Absolute Share Price Performance Over the Past Week – 5-12 October 2017 

 

Millennium & Copthorne – Share prices soared as City Developments Limited (CDL), which currently owns 62.5% of M&C, has announced that it has reached agreement with the company regarding a cash offer for the business, valuing each share at 545p each.

AccorHotels – Australia's Mantra Group has accepted an offer from AccorHotels to buy the company.

 

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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