HVS EMEA Hospitality Newsletter – Week Ending 28 November 2014 (November 29, 2014)

De Vere Portfolio Sold 

Six former De Vere Hotels and De Vere Luxury Lodges in the UK have been purchased by Sankaty Advisors and Canyon Capital Advisors, the backers of QHotels. The 132-room Cameron House, in Loch Lomond, Scotland; the 169-room Dunston Hall, Norwich; the 152-room Oulton Hall, Leeds; the 131-room Mottram Hall, Macclesfield; the 141-room Slaley Hall, Northumberland; and the 136-room Belton Woods, Lincolnshire, are to become part of the QHotels portfolio over the next few months, brining the QHotels chain up to 27 properties. The sale price was undisclosed but it is thought to be in the region of £160 million. The deal completes the sale of the De Vere Group, following the disposal of De Vere Venues to Starwood Capital Group and sale of the Village Urban Resorts chain to KSL Capital Partners.

Limerick Strand Hotel Sold 

US businessman John Malone has purchased the Limerick Strand Hotel in the city of Limerick, midwest Ireland, for approximately €25 million, one of a number of Irish hotels that the billionaire has acquired in the last few months. The hotel will continue to be operated by Lalco Hotel Group. The 184-room hotel, next to the River Shannon, was built in 2007.

JW Marriott Comes Up Roses In Venice... 

Marriott International's JW Marriott Hotels & Resorts brand will be making its first appearance in Italy in March 2015. The brand's debut in the country will be in Venice. The 266-room JW Marriott Venice Resort & Spa is currently being developed on its own private island, Isola delle Rose, in the Venetian lagoon. The resort will have more than 16 acres of gardens and outside space and a 1,750 m² spa, thought to be the largest in the city. The hotel is the sixth JW Marriott hotel to open in Europe.

...And AC By Marriott Continues To Expand: Two Hotel Open In Spain And Turkey And One Under Construction In Israel 

Marriott International also announced this week that it has opened two new AC by Marriott hotels in Spain and Turkey and has one under development in Israel, bringing the number of AC by Marriott hotels in Europe to 80, either signed or in operation already. In Valencia, Spain, the 91-room Hotel Colón Valencia, operated under a management agreement with AC Hotel La Carolina SL, has become the second AC property in the city and the 60th in the country. The 98-room AC Hotel Istanbul Maçka, ran under a franchise agreement with Tans Turizm ve Otelcilik A.S. on the European side of Istanbul, marks the brand's debut in Turkey. The AC Hotel Herzliya is due to open in January 2016 in Herzliya's business district, just a short drive from Tel Aviv.

Pandox Operations To Take On The Grand Hotel Oslo 

Pandox's newly created operating company, Pandox Operations, has signed its first lease agreement with an external party. The firm is to take on the operation of the Grand Hotel Oslo in Norway's capital from 1 March 2015. The 292-room hotel, which first opened in 1874, is at the heart of the city on Karl Johan, Oslo's main street.

Hampton By Hilton High Fives Turkey 

Hilton Worldwide's Hampton by Hilton brand has opened its fifth hotel in Turkey, marking the brand's debut in the city of Gaziantep, in the southeast of the country. The 117-room Hampton by Hilton Gaziantep is owned by MB Holding and managed by Hilton. As well as the hotels in Ordu, Bursa, Samsun and Istanbul, the group has a further seven Hampton by Hilton properties in its development pipeline for Turkey.

Redefine|BDL Hotels To Manage A 22-Property Portfolio 

UK-based independent hotel management company Redefine|BDL Hotels is to take on the operation of 22 hotels on behalf of LRG Acquisition Ltd. The portfolio includes 19 Holiday Inn properties and three Crowne Plaza hotels across England, Scotland and Wales, five of which are in central London, brining Redefine|BDL Hotels' central London portfolio up to 13 properties. The group will take on the management of the hotels in January 2015. 

New Holiday Inns Open In Turkey And Egypt 

InterContinental Hotels Group (IHG) recently opened its first Holiday Inn property in Turkey to feature its Open Lobby concept. The Holiday Inn Ankara Ҫukurambar, in Ankara’s Ҫukurambar business district, is the result of a franchise agreement with Aska Otomotiv ve Petrol Urunleri Tic A.S. The 140-room hotel is IHG’s second Holiday Inn to open in Ankara and its third hotel overall in the Turkish capital. In 2014 so far, IHG has also signed a further two hotels in Turkey and opened three. This week, IHG also opened its second Holiday Inn property in Cairo, Egypt. Formerly the Sofitel Maadi, the 175-room Holiday Inn Cairo Maadi, which overlooks the Pyramids of Giza and the River Nile, is owned by IHG's long-standing partner the Bukhamssen Group. The hotel is the group's fifth property in Cairo and its 11th in Egypt overall.

New Millennium & Copthorne Hotels For Muscat 

In the first quarter of 2015, Millennium & Copthorne will make its first appearance in Muscat, Oman, with the opening of the 115-unit Millennium Executive Apartments, which will also mark the global debut of the Millennium Executive Apartments brand. Two more Millennium hotels will follow later in the year: the 328-room Grand Millennium Hotel Muscat, which will be directly connected to Muscat Grand Mall via a sky bridge, and the Copthorne Hotel Muscat. The group currently operates one hotel in Oman, the 234-room Millennium Resort Mussanah.

Best Western Opens Hotel Number Three In Bahrain And Saudi Arabia 

Best Western International has opened its third hotel in Bahrain: the 44-room Best Western Hawar Resort Hotel, which can be found on Al Dur Jetty on its own private island. The hotel joins the 151-room Best Western Plus The Olive Hotel and the 108-room Best Western Al-Olaya Suites, both in Bahrain's capital, Manama. Additionally, the group also opened its third hotel in Saudi Arabia this week: the 52-room Best Western Jazan Hotel, which has become the first of its brand in the city. Best Western now has properties in three Saudi Arabian cities and is continuing with its expansion plans in the country, which will see 11 hotels in operation across eight cities.

Saudi Arabia To Get Two Swiss-Belhotel Properties 

Hotel management group Swiss-Belhotel International has signed an agreement with Saudi Arabia-based Al Jumaiah Group to operate two hotels in Riyadh. The 26-storey, 126-room Swiss-Belhotel Riyadh and the Swiss-Belboutique Tahlia Riyadh are expected to open next year. Swiss-Belhotel currently operates four hotels in the Middle East (in the UAE, Qatar, Kuwait and Bahrain).

Absolute Share Price Performance Over the Past Week – 20-27 November 2014 

Millennium & Copthorne City Developments raises stake in company to 61.2% for £22.2 million.

InterContinental Hotels Group – Signed a multi-year contract extension with Omran.

Accor – The group's Sofitel The Palm in Dubai achieved a sustainability award, the ISO 14001:2004 certification.


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Russell Kett, Chairman – HVS London (@russellkett)rkett@hvs.com
Charles Human, CEO – HVS London/HVS Hodges Ward Elliottchuman@hvshwe.com
Chris Martin, Senior Director – HVS Hodges Ward Elliottcmartin@hvshwe.com
Puneet  Kanuga, Director – HVS Hodges Ward Elliottpkanuga@hvshwe.com
Tim Smith, Director – HVS Londontsmith@hvs.com
Arlett Oehmichen, Director – HVS Londonaoehmichen@hvs.com
Sophie Perret, Director – HVS Londonsperret@hvs.com
Peter Malone, CEO – HVS Executive Search, EMEA & Asiapmalone@hvs.com
Demetris Spanos, Managing Director – HVS Athensdspanos@hvs.com
Hala Matar Choufany, Managing Director – HVS Dubaihchoufany@hvs.com
Ezio Poinelli, Director – HVS Milanepoinelli@hvs.com
Louise Fury, Senior Editor and EMEA Hospitality Newsletter Author – HVS Londonlfury@hvs.com


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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