| London & Regional To Acquire Holiday Club Finland |
| London & Regional Properties (L&R) expects to be the new majority owner of Holiday Club Finland (HCF) by the end of August. L&R will, through its hotel property investment company Dividum, pay some €120 million to Procurator and funds administered by CapMan for their holding. The management and other ‘key personnel’ within HCF will hold a 20% stake. HCF offers a range of services and facilities to the leisure traveller, including seven spa hotels and nine holiday resorts. |
| AC Hotels Shops At Habitat; Buys Hotel In Barcelona | Return to Headlines |
| The Spanish press reports that AC Hotels is to pay €17.4 million to its Spanish compatriot Habitat Hotels for the Capital Hotel & Restaurante in Barcelona. The 103-room, three-star property is set to join the AC Hotels portfolio on 1 September. Meanwhile, Altai Hoteles, a joint venture formed between Vincci Hoteles and Acciona, has turned its attentions away from Spain for the first time to concentrate on the construction of a 66-room hotel in the Portuguese capital Lisbon. The partners are to invest a reported €8.5 million in the four-star property, which is due to open in 2007. | |
| Rezidor Hopes To Land A Radisson SAS At Zürich Airport | Return to Headlines |
| Rezidor SAS Hospitality will be waiting expectantly come the start of the new year for a letter from the Swiss planning authorities to drop onto its doormat. If the letter gives Rezidor the go-ahead then the company will be straight round to Zürich Airport Invest, who in turn can instruct Marazzi Generalunternehmung to set the cement-mixers a-turning. The building site will be opposite Terminal 1 at Zürich Airport, and on that site by autumn 2008 the 329-room Radisson SAS Hotel Zürich Airport will stand. | |
| Dawnay Shore Hotels Acquires Walton Hall | Return to Headlines |
| Dawnay, Day & Co. and Shore Capital came together last summer to create Dawnay Shore Hotels (DSH), a company which has dedicated its life to creating a chain of four-star hotels in the UK. DSH’s latest capture is Walton Hall, a timeshare and leisure complex in Wellesbourne, near Stratford-upon-Avon. The company paid £15.2 million for the property and now has plans to convert the 132 timeshare units into some 200 hotel rooms and to build a conference facility, all for a projected cost of around £10 million. Once the first phase of the work is finished – and expectations are that this will be next summer – the hotel will join the Paramount portfolio. | |
| Mandarin Oriental Is The Chosen One In Frankfurt | Return to Headlines |
| Earlier this year a stroll across the Opernplatz in the German city of Frankfurt would have required a pedestrian to weave in and out between representatives of several leading hotel companies and their respective consorts, all attracted to the city by the offer of the chance to build a luxury hotel. The crowds have melted away now to leave Mandarin Oriental and its partners in this venture ING and Stiller Immobilien alone and triumphant. They await the approval of the city authorities that would free them to build a 160-room hotel. | |
| Kapiteeli Takes 100% Of Kiinteistö | Return to Headlines |
| Finnish property investment firm Kapiteeli has put €41.6 million into Finnair’s pension fund and taken in return the remaining 40% it did not already own in hotel property company Kiinteistö Oy Nordic Hotellikiinteistöt. Kapiteeli’s fellow Finn is the owner of two hotels in Helsinki: the 192-room Hilton Helsinki Strand and the city’s largest hotel, the 512-room Scandic Continental Helsinki. | |
| Finesse Hotels Ties Up Lace Market Hotel Deal | Return to Headlines |
| Finesse Hotels has taken time out from operating its two hotels in Derbyshire to cross the county line into Nottinghamshire, there to execute the purchase from Beacham Whitehead Holdings of the Lace Market Hotel. Though Finesse did not disclose how much it paid for the 42-room, four-star boutique hotel, which stands in the centre of the city of Nottingham, certain sources have mentioned a figure of £5 million. The new owners want to raise the status of the property to that of a five-star townhouse and will spend a reported £500,000 in pursuit of this goal. | |
| A Change Of Name For CHE Group | Return to Headlines |
| CHE Group became CHE Hotel Group on 29 June, and the company will no doubt be hoping that a change in name will help maintain the change in fortune that was signalled in March, when CHE Group announced a profit for the year ending 31 December 2004 after five successive years of losses. The company would appear to have a favourable position on fortune’s wheel at present; CHE Hotel Group noted that the outlook for the medium term was good. It is also negotiating terms on another five Sleep Inn developments and looking forward to flexing its managerial muscle at the Comfort Inn London City, which will be opening in a few weeks’ time. | |
| World Domina-tion | Return to Headlines |
| Italy’s Domina Hotel Group has plans to bring 16 properties into the world by 2007. One of these will be the Domina Milano Residence, which is set to open in the third quarter of 2006. The 42-suite hotel will be Domina’s second in the northern Italian city of Milan. | |
| HVS International London's Recommended Weekend Reading | Return to Headlines |
| A reminder to those of you who have not already done so to have a read of an informative article written by two members of the London team of HVS International: Senior Associate Jakob Forstnig and Director Bernard Forster. Entitled “P2P: Are There Any More Public-to-Private Deals Left?” the article addresses such issues as whether any more deals are likely to happen this year and investigates if investors and owners have alternatives to P2Ps. You can download the article free of charge from the ‘Library’ section of our website www.hvs.com click here. | |
| Announcing The 5th Annual European Hotel Finance & Investment Summit | Return to Headlines |
| The Sofitel St James in London is the venue for the 5th Annual European Hotel Finance & Investment Summit, brought to you by Euromoney Seminars. Distinguished speakers at the event, which runs from 28-29 September, include Accor’s Michael Flaxman, Gill Baker (Premier Travel Inn) and Amar Lalvani (Starwood Hotels). HVS International London’s Managing Director Russell Kett will be moderating a panel addressing the question, “Where are the investment opportunities and who is exploiting them?”. Such fare should be enough to satisfy the biggest of appetites, but those with room for more could stay on at the hotel for the separately bookable Limited Service Hotels Briefing Day, on 30 September. You will then be able to feast your ears on the likes of HVS International’s Dominique Bourdais, and Gerard Greene, the CEO of Yotel. Further details are available from the website www.euromoneyseminars.com click here. | |
Absolute Share Price Performance Over the Past Week 23/06/05-30/06/05
Sol Meliá - The Spanish hotel confederation Cehat noted that most of its members were confident of a good summer season.
Jurys Doyle Hotel Group - The share price climbed once more as rumours circulated that Precinct Investments would soon be back with its third offer.
Hilton Group - One of the many companies whose share price was affected by news of a rise in oil prices.
