Featured in this HVS EMEA Hospitality Newsletter – Week Ending 10 February 2012
- Hilton Four…
- …Mövenpick Ten
- What Are You Doing On 21 March?
- A Taste Of The Orient In Turkey
- A Swiss Quartet In Germany
- Regent Sails Into Montenegro
- A Romantic Gesture From Starwood
- IHG Adds A Splash Of Colour To Berlin
- Living The High Life In London
- Dedeman Reveals Its New Brand
- A Marriott Marquis For Dubai
- Shangri-La On Its Way To Doha
- A Saudi Arabian Rose For Best Western
- Gabon Gets Two Marriotts
- Starwood’s Results For The Final Quarter Of 2011
- Gladen’s Tidings
After opening a record eight hotels in Turkey last year (5% of its global openings), Hilton Worldwide is continuing its expansion with the development of four new hotels in the country, bringing its Turkish pipeline up to 13. A management agreement was signed with MGG Malatya Girisim Grubu Tekstil Turizm Enerji Insaat ve Ticaret AS for the 157-room DoubleTree by Hilton Malatya, which is due to open at the end of 2012 in the city of Malatya, southeastern Turkey. At the beginning of 2013, the 144-room Hampton by Hilton Samsun is scheduled to open on Turkey’s Black Sea coast, under a franchise agreement with Umsa Otelcilik Turizm ve Insaat Sanayi Ticaret AS. The 88-room DoubleTree by Hilton Kusadasi is expected to open in late 2013 under a franchise agreement with Goctur Turizm Yatirim ve Ticaret AS; located at the centre of the resort of Kusadasi, on the Aegean Sea, this hotel will comprise historic buildings and a new-build component. Lastly, the product of a franchise agreement with Adalet Turan, the 89-room Hampton by Hilton Istanbul Atakoy is expected to open in early 2014 near to Istanbul Ataturk Airport. The group is planning to open a total of ten hotels in Turkey during the course of 2012, and by the end of 2013 it expects to have 33 hotels in operation in the country.
Not to be outdone, this week Mövenpick Hotels & Resorts has announced ten new projects across nine countries, four of which are in the EMEA region. The group plans to reopen a 380-room hotel in Marrakech, Morocco, in 2014 after a multimillion euro renovation. It will take over the running of a 298-room hotel on the Red Sea in the resort of Sharm El Sheikh, in Egypt, from April 2012. It also plans to take on the operation of a hotel in the city of Tozeur, an oasis in the desert of western Tunisia, in 2013, following a major refurbishment of the property. And, finally, next year it plans to reopen a 255-room hotel on Djerba Island, off Tunisia’s east coast, after a multimillion euro renovation.
What Are You Doing On 21 March?
Tim Smith, Director with HVS’s London office, will be heading over to the Radisson Blu Portman Hotel, in London, to take part in Henry Stewart’s one-day conference Latest Thinking on Hotel Operating Agreements. Tim’s presentation at the event will cover “where leases work best and the investment values they create”. HVS EMEA newsletter readers have been offered a special 50% discount on ticket prices. To book your space by credit card click here and insert the discount code HVS when prompted. If you would like to be invoiced, please email firstname.lastname@example.org and provide the full name(s), position(s) and email addresses of all delegates; the title of the conference; your full company name and address; and the name of the person making the booking if different from the delegate – don’t forget to quote HVS to receive your 50% discount. Visit www.henrystewartconferences.com for more information on the event.
A Taste Of The Orient In Turkey
Mandarin Oriental is to make its debut in Turkey, increasing its presence in Europe to seven countries. The Hong Kong-based group is to manage the Mandarin Oriental, Bodrum, which is expected to open in 2014 on the Bodrum peninsula, on Turkey’s Aegean coast. The resort, which will have 82 guest rooms, 20 suites and 214 private residences, is owned and being developed by Astas Real Estate and Tourism AS. “We are delighted to extend Mandarin Oriental’s renowned level of hospitality to Turkey and are looking forward to creating a luxurious hideaway on this culturally rich and stunning coastline,” said Edouard Ettedgui, Mandarin Oriental’s group chief executive.
A Swiss Quartet In Germany
Swissôtel Hotels & Resorts is to open its fourth property in Germany. Joining its sister hotels in Berlin, Bremen and Düsseldorf/Neuss, the Swissôtel Dresden Am Schloss is due to open on 1 April 2012 opposite Dresden Castle, at the centre of the city’s medieval Old Town. The 235-room hotel is the fruit of a lease contract between Swissôtel and the project’s developer, Baywobau DD Schloßhotel GmbH & Co.
Regent Sails Into Montenegro
Regent Hotels & Resorts, owned by Formosa International Hotel Corporation, has signed a management agreement with Adriatic Marinas for its first property in Montenegro. The 80-room Regent Porto Montenegro is scheduled to open in May 2014 as part of a mixed-use development in the Porto Montenegro Marina on the Bay of Kotor, a UNESCO World Heritage Site.
A Romantic Gesture From Starwood
Starwood Hotels and Resorts didn’t think a bunch of roses or a box of chocolates would suffice, so it is giving Paris, the legendary city of romance, a particularly special Valentines’ present this year in the form of the W Paris – Opéra, which is due to open next Tuesday in the city’s Opéra area. Formerly a vacant office building, Barcelona-based private equity group Meridia Capital Partners purchased the site in 2008 and lovingly converted it into the five-storey, 91-room hotel. This is Starwood’s fifth hotel in the French capital.
IHG Adds A Splash Of Colour To Berlin
InterContinental Hotel Group’s (IHG) Indigo brand has made its grand debut in Germany. The 81-room Hotel Indigo Berlin Centre Hardenbergstrasse opened recently in Germany’s capital. It is IHG’s fifth Indigo-branded hotel to open in Europe. A second Indigo is due to open in Berlin in May, on the city’s Alexanderplatz, and three more UK properties are expected to open later this year.
Living The High Life In London
Dubai-based Jumeirah Group is now taking bookings for its first serviced residence property in London: the Grosvenor House Apartments by Jumeirah Living, which can be found on the city’s exclusive Park Lane. The luxury hospitality group will operate the 133 apartments under a management agreement. Bookings are being taken from 20 February and the hotel will be fully operational by 2 April.
Dedeman Reveals Its New Brand
At a recent press conference in the Dedeman Istanbul, the chief executive of Turkish group Dedeman Hotels & Resorts, Tamer Yürükoglu, gave the world a glimpse of the group’s new brand: Dedeman Park, which, aimed at short-stay business travellers, will feature simple and modern design and the latest technological equipment. Dedeman has signed a management agreement with Apeas Engineering and Consultation for ten Dedeman Park hotels, planned to open over the next five years. Hotel number one will be the 120-room Dedeman Park Denizli in the industrial city of Denizili, southwestern Turkey. The new brand won’t just be confined to Turkey, however, as hotels are already planned for Kazakhstan and Russia.
A Marriott Marquis For Dubai
Marriott International is planning to open its second JW Marriott Marquis-branded hotel and its first outside of the USA. When it opens in October 2012, the 1,608-room, 1,164-foot-high JW Marriott Marquis Dubai, in the UAE, will become the world’s tallest hotel tower, knocking the 1,093-foot-high Rose Rayhaan by Rotana (also in Dubai) off its current top spot. The hotel is owned and being developed by the Emirates Group.
Shangri-La On Its Way To Doha
Hong Kong group Shangri-La Hotels and Resorts has signed management agreements with Faisal Bin Qassim Al-Thani & Sons Holding Company, a subsidiary of Al Faisal Holding, for two hotels in Doha, Qatar. Developed by Al Rayan Tourism Investment Company, also part of Al Faisal Holding, the five-star, 272-room Shangri-La Hotel, Doha and the four-star, 238-room Traders Hotel, Doha are both expected to open in 2013. Shangri-La currently has five hotels in operation in the Middle East (in the UAE and Oman). Greg Dogan, president and chief executive officer of Shangri-La International Hotel Management Ltd, commented that the news “reconfirms our commitment to expansion in the Middle East”.
A Saudi Arabian Rose For Best Western
Best Western made its first appearance in Saudi Arabia this week with the opening of the 48-room Best Western Plus Sand Rose Suite Hotel. Commenting on the newest addition to the Best Western family, Glenn de Souza, the group’s vice president of international operations, said that the opening marked “not only the addition of another superb hotel to our portfolio, but also our entry into the Kingdom of Saudi Arabia. With many more hotels planned, we expect this booming country to become a key member of our global family.”
Gabon Gets Two Marriotts
Marriott International has signed agreements with Prime Hospitality SA for two hotels in the port of Libreville, the capital of Gabon, Central Africa. The 250-room Libreville Marriott Hotel and the 40-unit Marriott Executive Apartments Libreville are both scheduled to open on the waterfront in 2015, in the city’s central business district. They will be Marriott’s first hotels in the country.
Starwood’s Results For The Final Quarter Of 2011
Starwood Hotels and Resorts has recorded a net income of US$167 million (US$0.85 per share) for the fourth quarter of 2011, a drop of approximately 50% on the same period in 2010. However, 2010 benefitted from a gain of US$132 million reflected in discontinued operations related to the final settlement with IRS regarding the 1998 disposition of World Directories, Inc. Adjusted EBITDA for the last three months of 2011 was US$321 million, a rise of 19.3% on 2010. RevPAR for the group’s hotels was US$113.14 and average occupancy was 66.2%. Starwood’s W brand achieved the highest overall occupancy and RevPAR, with 74.9% and US$212.60, respectively. During the quarter, management fees, franchise fees and other income increased 12% on 2010; 36 hotel management and franchise contracts were signed (approximately 7,600 rooms); and 28 hotels and resorts opened (approximately 7,900 rooms). “Our strong and growing presence in the emerging markets fueled almost 21,000 room openings in 2011, the most in our company’s history. These openings bring our five-year total to 389 new hotels,” said Frits van Paasschen, Starwood’s chief executive officer. “As we look to 2012, it is shaping up to be another record year of room additions and strong RevPAR growth,” he added.
The news from Spain by Esther Gladen, Business & Market Intelligence Analyst, HVS Madrid. Starwood Hotels and Resorts has announced its first Sheraton hotel in Madrid: the 180-room Sheraton Madrid Mirasierra Hotel & Spa. The existing Mirasierra Suites Hotel is currently being adapted to Sheraton standards and is expected to be rebranded this spring. A new owner for Oca Hotels: Mas Costas Group is to invest €18 million to incorporate Oca Hotels into its hotel division; Oca Hotels comprises three new establishments, two in Galicia and one in Brasil. A new hotel for Gran Canaria: the City Council of Las Palmas de Gran Canaria has released a viability plan to build a four-star business hotel in the area of El Rincón. The property is expected to offer 200 to 300 rooms, food and beverage facilities, a wellness centre, a commercial and business centre and meeting space for events.
Absolute Share Price Performance Over the Past Week – 2-9 February 2012
Meliá Hotels International – Meliá continued a significant uptrend, increasing 2.3% on firm volume.
Accor – Exane BNP lifted Accor's share price target to €28.
Millennium & Copthorne – Millennium hit a six-month high during the past week.
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