| Shuaa Partners Takes A Stake In Rotana Hotel Management Corporation |
| HVS International has advised Shuaa Partners in its acquisition of a 40% equity stake in Rotana Hotel Management Corporation (RHMC). The investment made by Shuaa Partners, which is the private equity arm of investment bank Shuaa Capital, was part of RHMC’s capital increase. |
| Blackstone Completes Its Purchase Of HEBV | Return to Headlines |
| The Blackstone Group, the private equity firm, has completed the purchase of HEBV (Hospitality Europe BV) for an undisclosed sum. This is the final chapter in a story that began last October when HEBV announced that it would be choosing between a sale of its hotel assets and flotation as the means of returning the greatest value to its shareholders. A sale it is, then; Blackstone receives eight hotels (a total of 3,227 rooms) in Europe. They include the Sheraton Frankfurt Hotel & Towers, the Hotel Pulitzer, in Amsterdam, and the Hyatt Regency Paris – Charles de Gaulle. | |
| NH Hoteles In A Second Round Heads For Cromwell Road | Return to Headlines |
| Spanish company NH Hoteles announced its arrival in London just over a year ago. Now the hotelier is back for a second visit, travelling as it did on the first occasion in the company of Spanish real estate firm Losan. The pair have acquired Huntingdon House on Cromwell Road in southwest London for €51 million. NH Hoteles met 30% of the cost and Losan the remainder. The property is due to open this September as the 150-room, four-star NH Kensington. | |
| Fadesa And Globalia To Form A Hotel Management Company | Return to Headlines |
| Two Spanish compatriots – the real estate firm Fadesa and the tourism company Globalia Corporación Empresarial – are to create a hotel management company in a 50:50 joint venture. Ownership of the properties entering the portfolio will though be weighted 90:10 in Fadesa’s favour. The pair have three projects to focus their collective mind on initially. Two of these are on Spanish soil: the 166-unit Aparthotel Jandía Golf complex, on the island of Fuerteventura, and an as yet unfinished development on the mainland in the southwestern coastal town of Ayamonte. The third is the Mediterrania Saïdia resort, which Fadesa is developing in northern Morocco. | |
| Golden Tulip Flourishes In Israel | Return to Headlines |
| Whenever Golden Tulip Hospitality (GTH) and Fattal Hotel Management get together, Israel prepares to celebrate. The country is experiencing celebrations five times the intensity of previous years as the partners have introduced three Golden Tulip properties and two hotels of the Tulip Inn variety to swell GTH’s presence in Israel to nine hotels (a total of 1,952 rooms). The cities of Tiberias, Ashkelon and Beersheba (Golden Tulip Negev) welcome the Golden Tulips. The Tulip Inns have rooted in Ein Bokek (Tulip Inn Dead Sea) and near the Sea of Galilee (Tulip Inn Ammon Bay). | |
| Monty Puts His Efforts Into Papillon Golf Club | Return to Headlines |
| It is a fair way from Scotland to the Mediterranean shores of Turkey but golfer Colin Montgomerie has made the drive. In partnership with European Golf Design he will be creating an 18-hole championship golf course that will form part of the Papillon Golf Club near the resort of Belek. A 600-bed hotel and between 25 and 40 villas are the other components of what will be a fifth property in Turkey for Papillon Hotels. | |
| Malmaison Holdings Set To Buy One Devonshire Gardens | Return to Headlines |
| Malmaison Holdings is said to be close to completing the purchase of One Devonshire Gardens for around £9 million. The luxury 35-room property in the Scottish city of Glasgow was put on the market last month by Citrus Hotels. Reports suggest that the hotel, which has the potential to expand to 50 rooms, will be renamed Hotel du Vin at One Devonshire Gardens. It would thus be the first Scottish property in the Hotel du Vin chain, which currently has seven hotels in England. | |
| Jawhara Brand To Expand In The UAE | Return to Headlines |
| S.S. Lootah Group is in its golden jubilee year and perhaps by way of celebration it is to spend a reported US$136.2 million on the expansion of its hotel division. The division musters three properties under its Islamic brand Jawhara in S.S. Lootah Group’s home emirate of Dubai. Under the expansion plans the remainder of the United Arab Emirates will share in more than 1,000 rooms served up in a mix of hotels and serviced apartments. | |
| Coventry Sends For Radisson Edwardian | Return to Headlines |
| The plans for Belgrade Plaza, a mixed-use development in the English city of Coventry, have always included space for two hotels. Those plans were approved by the city council in December 2004, and now that work on the £130 million project is under way the identity of the brands that will be adorning the hotels has been revealed. Radisson Edwardian takes a 184-room property and Premier Travel Inn a 109-room property. The hotels should start sprouting this autumn in the third of three phases of development work. Phase Three is due to finish in spring 2008. | |
| Jurys Doyle Appoints A New CEO | Return to Headlines |
| Pat McCann has stepped down as the chief executive of Jurys Doyle Hotel Group after six years in the role. He is succeeded by Niall Geoghegan, Jurys Doyle’s marketing and sales director. He has been with the company since 1993 and has been a member of the board of directors since 1996. | |
| Aparthotel Plans Spotted In Leopardstown | Return to Headlines |
| Edencastle Developments, a wholly owned subsidiary of Treasury Holdings, is reported applying for permission to build an aparthotel in the suburbs of the Irish capital Dublin. The proposed 177-unit property would occupy the former Softco site on the South County Business Park in Leopardstown. | |
Absolute Share Price Performance Over the Past Week 25/05/06-01/06/06
Whitbread - Morgan Stanley raised its rating from 'Underweight' to 'Equal-weight'.
Sol Meliá - Citigroup raised both its rating (from 'Hold' to 'Buy') and its target price (from €11.0 to €14.2).
Millennium & Copthorne - There was a favourable reaction to the company's plans to place four of its hotels in Singapore into a real estate investment fund and to float this fund on the Singapore market.
