In 2016, 7,400 hotel rooms are expected to enter Russia, according to JLL. Moscow, 02 February, 2016 – In 2015 the quality hotel supply of Russia, CIS and Georgia increased by 6,000 rooms, slightly more than a half of which – 3,300 – was in Russia, JLL reports. More than 8,900 rooms were scheduled for opening last year, including 5,200 rooms in Russia.
Most hotel industry professionals define a buyer’s market as the one that is not performing at the top of its historic track record and therefore the one that allows for significant room for asset appreciation and performance upside. However, without making headlines like Ibiza, and featuring a 12-month hotel season, the Canary Islands has been quietly and gradually reaching to the top arrivals ranking of the holiday market in the entire Europe, Middle East and Africa region. Only behind UAE, but ahead of leading tourism markets such as Croatia, Egypt, South Africa and Bulgaria, this Spanish region has attracted 13 million tourists in 2015, a record year in the history of tourism in this holiday destination.
The sharing economy might be in the U.K. to stay, but there are plenty of opinions that believe tougher regulations need to be enforced. Some worry that the sharing economy will weaken London’s current housing market, which is already close to bursting.
A business owner starts looking for a buyer when the company is performing well and worth a lot, or when going it alone begins to look scary. Both of those scenarios are likely behind the decision of Carlson to consider its options for its Radisson brand and the rest of its hotel operation.
To be honest, this list of new hotel openings that our Forbes Travel Guide editors are most excited about could have easily been 50 or 75 entries long. With so many people traveling these days, high-end hotel brands are doing their absolute best to keep up with the demand. But even with our inbox overflowing with press releases regarding new projects, these 20 properties have somehow managed to stand out. From an imposing entry in Lower Manhattan to an eye-catching gem in Macau, these are the vacation properties of our dreams that will finally become a reality this year.
Virgin Hotels, the lifestyle hotel brand by Virgin Group founder Sir Richard Branson, is set to open and operate a new hotel in Palm Springs, CA. Expected to open in late 2018, the property will be managed by Virgin Hotels and developed by Wessman Development.
Choice Hotels International has launched a fourth brand – the upscale Ascend Hotel Collection – in the UK. The five-AA-star, 18-bedroom the Howard and the 42-bedroom Channings hotels, both in Edinburgh, have become the first UK properties to join the soft brand, which currently comprises 148 independent hotels in the US, Canada, Australia, Sweden and Ireland. It is hoped that they will be joined by a further eight to 10 hotels in the UK over the next three years.
Minnesota-based AmericInn Hotels and Suites is entering the international lodging market with an upscale, value-based hotel concept, Hotel Business has learned. Beginning this year, the Midwest chain plans to open at least 20 new hotels across the Middle East and the Indian subcontinent over the next five years as part of a long-term commitment to growth.
Within minutes, the revelry of New Year's Eve in Dubai turned to horror as those gathered for fireworks downtown watched flames race up the side of one of the glistening city's most prominent luxury hotels. But the fire at the 63- story The Address Downtown Dubai wasn't the first, second or even third blaze to spread swiftly along the exterior of skyscrapers that have risen from the desert at a torrid pace in and around Dubai over the past two decades.
Business travelers looking for a home on the road will have lots of new choices this year, as a building boom gives rise to hundreds of new hotels from New York to Houston to Los Angeles. At least 865 hotels, with 103,230 rooms, are currently under construction and scheduled to open in 2016, according to hotel research firm STR, as developers boost investments to match surging demand.
Yesterday, we noted that total hotel sales worldwide had reached $42 billion for the first half of 2015 alone. While we have yet to see the final numbers for the second half, it's safe to say that this was a boom year for hospitalitity investors. In November and December alone, two game-changing deals made headlines worldwide, and made it seem likely that hotel brand consolidation would follow the path laid by the ever-shrinking airline industry. But before we talk about the mergers of Starwood and Marriott and of Accor and FRHI, let’s look at some other big portfolio buys that made 2015 one for the record books.
Once a year, when the River Tome in Sweden’s Lapland freezes, an amazing establishment opens its doors: The Ice Hotel, with hand-carved rooms, welcomes guests for just three months from now until April when temperatures will rise above zero and the hotel will melt away and run back into the river. This year’s 19 magical rooms, each created by a different artist chosen from 130 proposals submitted from around the world, were designed around the themes of animals and movies.
Rowsley Ltd has entered into a joint venture with former Manchester United football stars Gary Neville and Ryan Giggs to redevelop Manchester’s historic Northern Stock Exchange building into a boutique hotel.
The number of hotel rooms in London is expected to grow by 12 per cent over the next three years according to new data compiled by London & Partners and AM:PM, with the increase being driven by an uplift in budget and five star hotel accommodation across the capital. These new properties and hotel extensions will add 17,769 more rooms across the capital over the same period, up from the current figure of 138,769.
Our firm does a lot of hospitality underwriting and due diligence work for real estate investment funds, potential first- time hotel owners as well as asset management work for some hotel ownership groups. While the majority of the firms we come across are very savvy real estate hotel investors, we are still surprised at how many hotel investors do not have anyone on their team that has worked in hotel operations.
Celebrating the brand’s 40th anniversary, Residence Inn by Marriott has opened its 700th hotel worldwide. The Residence Inn Chicago Downtown/Loop will be the largest hotel in the extended stay leader’s portfolio, a historic building located in the new distinctive hub in the center of Chi Town. The property, located at the intersection of LaSalle Street and Madison Avenue, will be Residence Inn by Marriott’s urban flagship with 380 rooms and 7500 square feet of meeting space.
The “Grand Old Lady” of downtown Winston-Salem has a new name — Kimpton Cardinal Hotel — and a debut date of February. Kimpton Hotel & Restaurants confirmed Thursday it will operate a 174-room boutique hotel on the bottom six floors of the historic former R.J. Reynolds Tobacco Co. headquarters at 401 N. Main St. The initial goal was reopening the building this fall.
Zone by the Park Chennai (Tamil Nadu, south eastern India) is now open, with 36 rooms and four suites. The hotel is the third Zone by The Park property and the first to open in Chennai. Priya Paul, Chairperson of The Parks Hotels said, “Though different from The Park, we wanted to create a brand that would channel its inimitable spirit. A new brand with a new vision for the global citizen.” The hotel’s design is overseen by London-based designers Project Orange, working with Priya Paul, Chairperson of The Parks Hotels. The hotel seeks to establish a connection between the traveller and the local culture by creating a contemporary collage of the country and its’ traditions.
Jurys Inn Hotel Group, a member of Amaris Hospitality, has announced it will add eight new hotels to its UK portfolio, totalling 36 hotels across the business. Commencing November 2015, the eight hotels, previously part of The Hotel Collection will include; The Oxford Hotel, Godstow Rd, Wolvercote, Oxford (pictured above). The Parc Hotel, Park Place, Cardiff. The Middlesbrough Hotel, Fry Street, Middlesbrough. The Hinckley Island Hotel, Watling.Street, Hinckley. The East Midlands Skyway Hotel, East Midlands Airport. The Inverness Hotel, Millburn Rd, Inverness. The Aberdeen Skyway Hotel, Aberdeen Airport. The Golden Valley Hotel, Cheltenham
Harbour Hotels has announced three new acquisitions, with properties now confirmed in Brighton, Bristol and South Sands (Salcombe). The Group’s ambitious expansion plans will now introduce the brand into some of the UK’s most desirable and vibrant cities, confirming its position as one of the most exciting luxury hotel Groups.