| Reverse Takeover Of Moribo Leisure By IFA Hotels & Resorts |
| South African firm Moribo Leisure has plans to rename itself IFA Hotels & Resorts Limited if and when a reverse takeover instigated by IFA Hotels & Resorts (IFA), a subsidiary of Kuwait’s International Financial Advisors, reaches completion. The plan is for Moribo to pay US$16.6 million to acquire IFA’s entire holding in IFA Zimbali Lodge (Pty) Limited and IFA Hotels & Resorts (South Africa) (Pty) Limited in exchange for an issue of some 215 million of Moribo’s shares. Moribo is already listed on the Johannesburg Stock Exchange where it will be joined by IFA Hotels & Resorts (South Africa). |
| Cendant Acquires Wyndham Brand | Return to Headlines |
| According to Stephen Holmes, the Chairman and CEO of Cendant’s Travel Content Division, Cendant Corporation has long been seeking the upscale brand thus far missing from its portfolio. It has sought and now it has found – and the brand is Wyndham. A cash payment of US$100 million to Wyndham International will give Cendant in return not only the brand but also the franchise system and the rights to the Wyndham name for timeshare development and sales worldwide. Management contracts on 29 hotels formed part of the deal and these broaden Cendant Hotel Group’s horizons; for the first time in its 15-year existence the company can say it is a management company as well as a franchisor. | |
| Success Breeds Scandic By Hilton In Stuttgart | Return to Headlines |
| The Multi Event Center in the German city of Stuttgart features a 150-room hotel; and from September 2006 that hotel will be the Scandic by Hilton Stuttgart NeckarPark. The Success Group it was who coaxed Hilton International with a franchise agreement to a building owned by the Häussler Group. | |
| In Short, Precis Is To Sell Four Hotels In London | Return to Headlines |
| Precis Holdings is reported to have put four of its hotels in London on the market in a sale and leaseback deal that could make £150 million for the Canada-based company. The properties, which have a total of 600 rooms, fly either the Best Western or the Best Western Premier flag. Elsewhere in the city, the Crown Hotel Group has added a townhouse property in Bloomsbury to its London set. The company paid an undisclosed sum for the privately owned Hotel Cavendish. | |
| Saraya Islands Will Be Sighted In Ras El Khaimah | Return to Headlines |
| Saraya Holdings, a company based in the Lebanese capital Beirut, is reported to have teamed up with Arab Bank and the Investment and Development Office from the emirate of Ras el Khaimah to form a venture called Saraya Emirates. The threesome will be investing a reported US$498 million in the construction of the upscale mixed-use Saraya Islands development in Ras el Khaimah. The project will feature three hotels. | |
| Peacock's Fans Will Be Out To Welcome The Golden Tulip Sky Gate | Return to Headlines |
| If you like a party then the date you want to mark in your diary is 27 September, the day of the official grand reopening of the Golden Tulip Sky Gate. The name gives a partial clue as to the hotel's location; yes, the property stands at an airport: the international one in the Romanian capital Bucharest to be exact. The 108-room hotel will be managed by Peacock Hotels. Golden Tulip Hotels announced in April that it had chosen Peacock Hotels to lead its expansion through franchise not only in Romania but also in neighbouring Moldova. | |
| Sale Of The Hotel Des Mille Collines Reported | Return to Headlines |
| Belgian airline Sabena went into liquidation in November 2001. At the end of June 2003 the receivers put the company’s five hotels up for sale. Three of the hotels are in Africa, and reports indicate that one of them – the Hotel des Mille Collines in the Rwandan capital Kigali – has now been sold. An anonymous businessman from the Congo paid an undisclosed sum for the 112-room, four-star hotel. | |
| Trentham Fired Up In The Potteries | Return to Headlines |
| Two hotel companies are said to be vying for the right to be chosen as the operator of Trentham Hall Hotel, a five-star hotel that Trentham Leisure will create as part of its restoration of the 750-acre Trentham Gardens estate near Stoke-on-Trent, in Staffordshire. The luxury property will have the company of an upper three-star hotel and together the pair will offer a total of 270 rooms. Down in Gloucestershire, meanwhile, the town of Cheltenham is awake to the possibility of the arrival of a Big Sleep hotel. Ashley House will be converted into a 63-bed property if planning approval is given. | |
| Double Delight For Skiers In Turkey | Return to Headlines |
| Devotees of the piste will be off to Turkey where they have two new hotels to choose from this season to welcome them in from the slopes. First to open – this month, indeed – will be the Kars Sarikamis Toprak Hotel, a 145-room hotel and ski centre operated by Toprak Tourism in the eastern province of Kars. Opening in time for the winter season will be the Hotel Monte Baia, a 192-room property in the ski resort of Uludag. | |
| Marriott International Strengthens Its Development Team | Return to Headlines |
| Marriott International is strongly pursuing growth in the UK and Ireland, and has strengthened its development team with the arrival of Tim Walton as Vice President Development UK & Ireland. Having previously worked for Marriott in development planning and feasibility, Tim rejoins the group from Le Meridien where he has worked in the Europe and Africa development team for the past four years. | |
| Cityscape Conference Ready To Roll | Return to Headlines |
 Clear your diary for the three days between 17 and 19 September, for you would not want to miss Cityscape 2005. This is the fourth International Property Investment & Development Event, and last year it attracted more than 10,000 people. Focusing on all aspects of property development, the event – to be held at the Dubai International Exhibition Centre – will be addressed by a host of distinguished speakers, including Elie Younes, an Associate Director at HVS International’s London office. For more details visit www.cityscape-online.com click here. | |
Absolute Share Price Performance Over the Past Week 08/09/05-15/09/05
NH Hoteles - The share price reacted to ongoing takeover rumours, the latest being that venture capital firm Carlyle is an interested party.
Jurys Doyle Hotel Group - Stakebuilding by Sean Dunne caused a fresh rise in the share price.
Accor - A modest decline in the share price earlier in the week was the result of Deutsche Bank's downgrade from 'Buy' to 'Hold'.
