P-P-P-Pick Up A Piccadilly | US-based lodging real estate company Host Hotels & Resorts has purchased the 266-room Le Méridien Piccadilly, in London, UK, for a total of £64 million (including the assumption of a £33 million mortgage). This is Host’s second hotel in the UK; hotel number one being the 350-room Sheraton Skyline Hotel London Heathrow. The company’s European portfolio now comprises 12 properties across six countries. HVS provided valuation services to Host for this acquisition.

Travelodge In Cornwall | As part of its expansion plans, Travelodge has been on the look out for a suitable site in the county of Cornwall, southwest England, for a while now. This week, however, the search was finally over as the UK budget brand bought the 42-bedroom wing of the Victoria Inn and Lodge, in the village of Roche, from the Cornwall-based family owned St Austell Brewery for an undisclosed sum. The lodge, originally a coaching inn, dates back to 1642. And if the hotel’s guests find themselves in need of refreshment after a day’s sightseeing they won’t have far to go as the rest of the building houses a restaurant and a bar. Travelodge has purchased the leasehold of the property and part of the deal includes the refurbishment of the 42-room hotel. The bar and restaurant will continue to be operated as a St Austell Brewery managed house.

A Coventry Tale | Travelodge and Host were not the only companies expanding their portfolios in the UK this week: Talash Hotels bought the historic 90-room Allesley Hotel in the city of Coventry, in the West Midlands, from Princeton Hotels and Investments for an undisclosed sum. The original building dates from the 17th century and the hotel’s new owner now plans to embark on an extensive refurbishment of the property. Talash Hotels also operates the 63-room Best Western Falstaff Hotel in the town of Leamington Spa.

A Second Waldorf=Astoria For The UK | Hilton Worldwide has announced that it has signed an agreement with the Ability Group to open a new luxury hotel in Syon Park, West London: the London Syon Park, A Waldorf=Astoria Hotel. HVS is pleased to have advised the Ability Group on this development. The 137-room hotel, scheduled to open in November 2010, sits close to Syon House, the London home of the Duke of Northumberland. London Syon Park will become only the second hotel in the UK to operate as a Waldorf=Astoria, the other being The Bentley London. It will be the fourth Waldorf=Astoria property to open in Europe, although a fifth is due to open in Berlin in 2011.

Starwood To Debut In Ukraine | Starwood Hotels & Resorts is set to make its debut in Ukraine with the new Four Points by Sheraton Zaporozhye, in the city of Zaporozhye, the industrial capital of Ukraine, on the Dnieper River. Starwood has signed an agreement with Budhouse Group LLC to manage the 167-room hotel, which will be part of a mixed-use development. Roeland Vos, President for Europe, Africa and the Middle East for Starwood Hotels & Resorts said: “Zaporozhye is a major industrial centre with extensive commercial links and the reputation of the Four Points by Sheraton name will assist further positioning this city as an important business destination.” Due to open in the first half of 2011, the hotel will be operational in time for the 2012 UEFA Football Championships, which is to be hosted by Poland and Ukraine.

Swiss Ski Resort To Sing The Blus| In China the number eight is considered to be a very lucky and auspicious digit; this bodes well for Rezidor Hotel Group which has just announced that is to open its eighth hotel in Switzerland. The Radisson Blu Resort, Andermatt is expected to open in 2013 as part of Orascom Development Holding’s mixed-use Andermatt Swiss Alps development in the resort of Andermatt, at the foot of the Gotthard Massif mountain range. Development company Andermatt Swiss Alps AG, a subsidiary of Orascom, is the owner of the 240-room hotel.

Sleeperz Hotels To Spread Its Wings | According to The Sunday Times, fledgling budget hotel chain Sleeperz Hotels has plans to fly the nest and increase its presence in the UK market; the company has raised a total of £7 million in order to develop its next hotel in Newcastle, northeast England, and it also has plans for hotels in Manchester, Birmingham and Liverpool. Sleeperz currently has two other properties in the UK: the 74-room Sleeperz Hotel Cardiff and, its first hotel, the 25-room Sleeperz Cambridge. Sleeperz hotels are all in close proximity to mainline railway stations as the company has a partnership with Network Rail in which it builds its properties on land owned by Network Rail and in turn pays the rail company a share of the earnings.

Best Western’s Adventures In West Africa | Best Western International has increased its portfolio in Africa with the opening of three new hotels this week. The 89-room Best Western Premier Accra Airport Hotel is a newly constructed property in the port of Accra, in Ghana, West Africa. This hotel marks the debut of the company’s Best Western Premier brand on the continent. The new-build Best Western Island Beach Hotel opened with 142 rooms in the city of Lagos, in Nigeria, on the Gulf of Guinea, and the Best Western Harcourt Hotel in Port Harcourt, also in Nigeria, reopened after undergoing a renovation that will result in it being rebranded as a Best Western Premier hotel later this year.

Accor’s 2010 Half-Year Results | Alongside the hope that the hotel industry is starting to pick up again now that the recession seems to be receding, Accor has announced a good performance for the first six months of the year. The French hotel company has reported a revenue from its hotel business of €2.7 million for the first half of 2010, a like-for-like increase of 5.1% on the same period in 2009. Accor has opened a total of 10,900 rooms during the first half of the year, adding €40 million to its revenue and 1.6% to reported growth. Revenue for the second quarter of 2010 alone amounted to €1.5 million, an increase of 11.3% on the second quarter of 2009, as reported. A RevPAR of €59 was recorded for upscale and midscale hotels in Europe for the first six months of 2010, a like-for-like increase of 4.9%. RevPAR for economy hotels in Europe was reported to be €38, a like-for-like increase of 1.7%.

Starwood Hotels & Resorts’ Second-Quarter Results | Starwood Hotels & Resorts reported an increase in management and franchise revenues of 14% for the second quarter of 2010, compared to the same period in 2009. Adjusted EBITDA was US$226 million. During this quarter, Starwood signed 25 hotel management and franchise contracts (approximately 6,400 rooms) and opened a total of 18 hotels and resorts (approximately 4,100 rooms). Income from continuing operations of US$79 million was recorded for the quarter, a decrease of approximately 44% on the US$140 million reported for the same period in 2009. Commenting on the results, Starwood’s chief executive officer Frits van Paasschen said: “Starwood’s global footprint and strong brands drove the Company’s [sic] second quarter revenues and earnings above expectations.”

Gladen’s Tidings | The news from Spain by Esther Gladen, Business and Market Intelligence Analyst, HVS Madrid. An entrepreneur from Las Vegas, USA, announces investment plans for Spain: Sheldon Adelson, owner of the Las Vegas Sands Corporation, which includes several hotels and casinos in Vegas, has announced his intention to invest more than €8 billion in a mixed-use tourism development in Spain. The entrepreneur has initiated conversations with the relevant authorities in order to analyse possible locations in Madrid or Barcelona. This immense project would be the first of its kind in the country and would certainly be an important demand generator in the region. The Hotel Puro Oasis in the historic centre of Majorca has reopened after a refurbishment and extension. The small, luxury hotel, housed in a small 18th-century palace, has increased its room stock by 20 new guest rooms, and the property also has a new entrance, three areas for meetings and events and a VIP area in the restaurant.

Glion Goes Online | The Swiss-based Glion Institute of Higher Education, part of Laureate International Universities, is now offering its fully accredited MBA in International Hospitality Management in an online format. The Swiss institute has announced that the programme has been designed specifically to meet the unique needs of working professionals in the hospitality, tourism and wider service industries. Christian Beek, chief executive officer of Glion, commented on the programme, “As leaders in hospitality management education, we feel it is important to find new and flexible alternatives for industry managers to reach their full potential”. For more information on the course visit www.gliononline.com/.

About HVS
HVS is the world's leading consulting and services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 2,000 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. We are client driven, entrepreneurial, and dedicated to providing the best advice and services in a timely and cost-efficient manner. Through a worldwide network of 30 offices staffed by 400 seasoned industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.