| Featured in this EMEA Hospitality Newsletter - Week Ending 1 September 2006 |
| Immorent Plans To Work On A Budget Chain | Return to Headlines |
| Immorent, the real estate subsidiary of Erste Bank Group, has plans to build a chain of budget hotels, according to reports from Immorent’s homeland of Austria. The company would concentrate on capital cities in Central and Eastern Europe, with its list of locations including Prague, Bratislava and Budapest. However, it is the Austrian capital Vienna that will have the honour of leading off; Immorent would like to open a hotel there next year. | |
| Jorsu, Joy Of Marriott's Desiring | Return to Headlines |
| It was revealed towards the end of last year that the Spanish firm Jorsu Catalana was busy constructing a 259-room hotel in the Spanish city of Barcelona. That property has now opened as the Renaissance Barcelona Airport Hotel and in so doing it has become the first hotel to fly the Renaissance flag in Spain. The Spanish firm Riu Hotels & Resorts would prefer it if we were to flutter across to the island of Grand Canary, in the Canary Islands, and sing the praises of the freshly renovated four-star Hotel Riu Palmeras. | |
| Dakota Flies Over Farnborough | Return to Headlines |
| Dakota Hotels is reportedly interested in building the next in the series of its ‘super budget’ hotels at Farnborough, in Hampshire. The proposed 176-room property, which would cost £20 million, would occupy the mess formerly used by RAF officers. Five construction firms are said to be bidding for the contract. Work is set to begin in October and the ideal outcome would be for the hotel to open in time for the Farnborough International Airshow of 2008. | |
| Luxury Family Hotels Bids For Luxury Family Hotels Five | Return to Headlines |
| Luxury Family Hotels (LFH), which is a wholly owned subsidiary of Von Essen Hotels, has made an offer of £1.60 a share for all of the shares in Luxury Family Hotels Five in a proposed deal worth around £4 million. Von Essen Hotels acquired LFH in January and integrated three of the company’s four properties into its Luxury Family Hotel collection. LFH has made this offer to enable Von Essen Hotels to fully integrate a fourth property: the Ickworth Hotel, in Suffolk. | |
| What Have You Up Your Slieve, Hastings? | Return to Headlines |
| A great detective would spot in an instant the changes wrought at the Slieve Donard Resort and Spa. Hastings Hotels Group has spent 18 months and £15 million on the addition of 60 guest rooms and a spa and leisure facility to the hotel in Newcastle, Co. Down, which is one of six properties that the company has in Northern Ireland. The 175-room Slieve Donard Resort and Spa is set to reopen any day soon. Meanwhile, Jurys Doyle Hotel Group, from the other side of the Irish border, has crossed the sea to open what is its seventeenth Jurys Inn in the UK: a £23 million 279-room hotel in the town of Milton Keynes, in Buckinghamshire. | |
| Whitbread Issues A Trading Update | Return to Headlines |
| Whitbread has issued a trading update that covers the 24 weeks to 17 August 2006. Like-for-like sales over that period grew by 2.3%. The Premier Travel Inn portfolio was to the fore once again, posting like-for-like sales growth of 6.9%. The only decline in like-for-like sales growth was returned by the retained pub restaurants, which saw sales slip by 1.3%. | |
Absolute Share Price Performance Over the Past Week 24/08/06-31/08/06
Accor - Jefferies International has a 'Buy' rating on the stock in expectation of strong interim results, which are due next week.
Sol Meliá - Brokers expressed their confidence in the company's Latin American properties and its coastal resorts.
NH Hoteles - Profit-taking continued after last week's sharp rise in the share price brought on by takeover rumours.
