| Masterworks To Revive MOD Building In London |
| The Ministry of Defence is reported to have sold Northumberland House to Masterworks Development Corporation for more than £30 million. The Grade II listed building in central London, which enjoyed life as the 500-room Hotel Victoria between 1887 and 1940, may have chance to rekindle such memories thanks to its new American owners. They want to refurbish the building and open it as a hotel with some 200 rooms that would form part of the Club Quarters portfolio. Club Quarters offers those signed up as members access to a collection of private, full service hotels, of which two are already to be found in London. |
| Cendant Completes Its Acquisition Of Ramada | Return to Headlines |
| Cendant Hotel Group has completed the acquisition of Ramada International, three months after it signed a non-binding letter of intent with Marriott International, in a deal which has no material financial impact on either party. The deal satisfies, at least in part, Cendant’s desire for aggressive expansion outside the USA, where it already held the trademark rights on the Ramada brand under an earlier deal. Now that the company’s coverage has extended worldwide Cendant naturally enough needs someone to take care of brand development. So step forward Reas Kondraschow, new Senior Vice President and Managing Director, International. | |
| Radisson SAS Tucks Into Medina | Return to Headlines |
| The honour of hosting what will be the fourth Radisson SAS property in Saudi Arabia goes to the western city of Medina. The 212-room Al Madinah Paradise Radisson SAS Resort, which is owned by Dr Ibrahim M. Massoud, the president of Al Razi Medical & Resorts Company, is due to open in mid 2007. The resort's cousins on the western side of the country are the 167-room Radisson SAS Hotel, Yanbu and the 292-room Radisson SAS Hotel, Jeddah. | |
| Shopping In London This Christmas? | Return to Headlines |
| If you are still looking for a gift for that special hotel person in your life, then come and search in London. Paddington is always a favourite and in that district of west London stands the 59-room Royal Norfolk Hotel, which is on the market for £4 million. If you think your loved one would prefer something with a designer label, then The Hempel might suit, and it is just a short stroll away. O&H Properties acquired the 40-room hotel from Japanese property company AC Real Estate in April last year for a reported £10 million, and now wants £12.5 million. | |
| Hilton International Hotels Get Carter | Return to Headlines |
| The board at Hilton Group wanted a new workmate in time for Christmas; so naturally they called in on the Black & Decker Corporation, and took away its president (EMEA and Asia) in a firm grip. Ian Carter becomes Hilton International Hotels’ new Chief Executive on 1 February 2005. Music to Mr Carter’s ears might be Conrad Hotels’ first music CD – 'Conrad Vol I' – or the news that Hilton International Grand Vacations Company is to add six luxury time-ownership lodges to the 16 already in existence at the Hilton Dunkeld House Hotel & Country Club in Perthshire, Scotland. The Osprey lodges are due to open in spring 2005. | |
| Pearly King Of The Emirates | Return to Headlines |
| The next time you are Emirates way you will probably find them all gazing at a new name on the street: Danat Hotels & Resorts. The National Corporation for Tourism & Hotels (NCTH) has launched the company to unite the eight hotels in the United Arab Emirates which NCTH either owns or owns and manages. One of the eight is the 109-room, five-star Danat Resort Jebel Dhanna, which is due to open in the town of Ruwais before the end of the year. Danat Hotels & Resorts is in addition the owner-representative of the Hilton Rabat in Morocco. | |
| MaMaison Books Its Passage To Poland | Return to Headlines |
| Diana Passage will be writ large in the history of MaMaison Residences, as it will mark a new chapter for the company: its entry into Poland at the start of next year. MaMaison Residences, a subsidiary of the Orco Property Group, will manage the 46 luxury serviced apartments at the €12 million mixed-use development in Warsaw. | |
| Sch…You Know Who's The New CEO At IHG | Return to Headlines |
| InterContinental Hotels Group (IHG) has given itself the perfect pre-Christmas tonic by appointing Cadbury Schweppes’ president (EMEA region) as its new Chief Executive. Andrew Cosslett will be in his new office by the middle of next March, sitting in the chair left vacant since the end of September by the departure of Richard North. | |
| Palace Hotels Buys Nordea's Stake In Osakeyhtiö Kämp | Return to Headlines |
| Financial services group Nordea expects to have completed the sale of its entire stake in its wholly owned subsidiary Osakeyhtiö Kämp to Palace Hotels, part of the Berling Capital Group, by 1 January 2005. Osakeyhtiö Kämp operates in the hotel and restaurant trade under the name Hotel Kämp, with Starwood Hotels & Resorts having operational control of the hotel side of the business. | |
| Boom Time For Golden Tulip Hotels Next February | Return to Headlines |
| On 1 February 2005 Ms Madelon Boom will be found at her desk at Golden Tulip Hotels behind the door marked Chief Operating Officer. Ms Boom, most recently the Global Operations Director at Accenture, will oversee her new employer's freshly created Hotel Management Division, and her eyes will focus in particular on Benelux, Germany, Austria and Switzerland. Any spare time she has will be devoted to her duties as a director of the Golden Tulip Hospitality Group. | |
Absolute Share Price Performance Over the Past Two Weeks 02/12/04-16/12/04
Jurys Doyle Hotel Group - The company published an upbeat set of monthly statistics on its operations in Ireland.
Hilton Group - Analysts felt that the UK government's possible restriction on the number of new casinos would be good news for bookmakers.
De Vere Group - UBS placed a 'Buy' rating on the stock and raised its target price from 525p to 545p.
