Development External Articles - Hospitality Net

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August 13, 2014

Interview: Morgans Hotels Tries to Get Its Groove Back With Mondrian London | skift.com

Morgans Hotels posted an energetic new video this morning to promote the 359-room Mondrian London at Sea Containers hotel opening September 30. Located on the shores of the Thames inside a retro 1970s ex-office complex in London’s South Bank, the Sea Containers could potentially help the Morgans Hotels umbrella brand to reclaim some of its mojo on the international hotel scene, following years of stiff growing competition in the design hotel space. If you’re a hotel person you’re pulling for Mondrian to reinvigorate the Morgans flag, because you remember when the original Morgans Hotel in Manhattan and sister Delano in Miami changed the world of hospitality forever.

London, United Kingdom

External Article

August 11, 2014

Jailed Indian tycoon tries to sell New York Plaza | cnbc.com

It's hardly the $30,000 a night royal suite, but after five months in India's biggest jail, the owner of the New York Plaza and London's Grosvenor House is thrilled to be able to use a modest office as he tries to sell the iconic hotels. Indian tycoon Subrata Roy is putting up the two trophy properties and another luxury New York hotel for sale to raise $1.6 billion for the bail bond that will get him out of Tihar, a sprawling New Delhi prison complex that houses about 12,000 inmates.

New York, New York, United States

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August 7, 2014

Hotels and Resorts: Investing Essentials | fool.com

For most people, the topic of hotels and resorts conjures up visions of exotic vacations in faraway places. But hotels and resorts make up a huge industry, and investors have found many different methods of making money from companies that provide places for travelers to spend a short time away from home. From owning hotel and resort real estate itself to managing their operations, various companies use well-tailored business models to maximize their profit opportunities and give investors a comfortable risk profile. Let's take a closer look at the industry with an aim toward understanding how its biggest players have been successful.

The Motley Fool

External Article

July 23, 2014

If 4 Atlantic City casinos close in September, then what? | philly.com

This resort faces the prospect of having four major vacancies on its famed Boardwalk come mid-September. The grim reality sank in July 14 when Trump Plaza issued layoff notices and targeted Sept. 16 as the date to cease operating as a casino. Perception is reality in tourism, experts say, and the Boardwalk is synonymous with Atlantic City. How will four hulking, empty buildings sit with visitors - especially at night - and will they impede tourism when Atlantic City needs it the most? "When an area goes dark, and there are increased vacancies, it generally sends out more than a subtle message that things are not promising on the horizon," said Don Moliver, dean of the Leon Hess Business School at Monmouth University.

Atlantic City, New Jersey, United States

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July 22, 2014

Blackstone’s $12 Billion Gain on Hilton Shares Highest in Private Equity History | skift.com

The Blackstone Group has done pretty well so far on its 2007 acquisition of Hilton Worldwide for $26 billion as the recession kicked in — historically well. Blackstone Group CEO Steve Schwarzman said last week that Hilton’s share price was trading at “a multiple of 2.8 times our original investment and implies a total gain of almost $12 billion, which we believe is the largest private equity gain in history.”

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July 21, 2014

India: 'Hotels As A Business Vertical Are Not For The Impatient' | businessworld.in

It's intriguing to see so many real estate firms getting into hospitality services and expanding in that arena, especially as generating returns are much more difficult as compared to office space or apartments. Several realty firms, in fact, have lost value over their hotel investments. The Brigade group ventured into hospitality in June 2004 with serviced residences, and over the last ten years has expanded into lifestyle membership clubs like Woodrose, Augusta, Galaxy and Regent, MLR convention centres and the more recently, a standalone restaurant HIGH Ultra Lounge. Brigade Hospitality also has two operating hotels – Sheraton Hotel Bangalore at Brigade Gateway and Grand Mercure, Bangalore and 8 in the pipeline. BW| Businessworld's Chitra Narayanan quizzed Brigade Hospitality Services CEO & Executive Director Vineet Verma on growth plans...

businessworld.in

External Article

June 6, 2014

InterContinental Boss Doesn't Need Deals to Keep Growing | businessweek.com

InterContinental Hotels Group (IHG) has made its shareholders “a lot of money,” Chief Executive Officer Richard Solomons says, and the company faces no pressure to sell itself or pursue another lodging chain. He declines to discuss a Sky News report that the parent of Holiday Inn has rejected a $10.1 billion bid—not just once but five times—in the course of an interview on Monday. Solomons, 52, who is about to celebrate his third anniversary as InterContinental’s CEO, dismisses the story as “speculative” and a distraction without directly calling it incorrect.

businessweek.com

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Hospitality Financial and Technology Professionals (HFTP)

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Why Hospitality Net Leads B2B in Hospitality

Learn what makes us the industry-leader in what we do.

Hospitality Net

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June 4, 2014

ARC Hospitality to Buy $1.9 Billion of Hotels From Goldman Funds | bloomberg.com

American Realty Capital Hospitality Trust Inc. agreed to pay $1.93 billion for a group of hotels that’s indirectly owned by funds managed by Goldman Sachs Group Inc., creating one of the biggest hospitality-focused real estate investment trusts in the U.S. The company is buying 126 hotels in 35 states operated by brands including Holiday Inn, Hilton Garden Inn and Hyatt Place, the New York-based company said in a statement today. The properties, known as the Equity Inn portfolio, are the largest ever acquisition by ARC Hospitality.

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June 2, 2014

Over £13bn invested in UK hotel industry in ten years | bighospitality.co.uk

More investments are still in the pipeline, with 9,300 more rooms planned for 2014 and 2015 in London and over 14,700 rooms elsewhere in the UK, according to the Institute of Hospitality’s Hospitality Digest 2014. The ten-year period to the end of 2013 was the largest expansion in the industry’s history, with 106,380 new rooms. However, with the closing of over 40,000 rooms, the net addition is in more around 66,000.

bighospitality.co.uk

London, United Kingdom

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June 1, 2014

Check Into London's Newest Hotels | forbes.com

There are hotel towns and then there are hotel towns, and London is at the top of my list as the city that gets the hospitality thing just right. From crisp linens and piping hot breakfasts to the kindest, most capable staff, London hotels set the bar high. And while they’ve traditionally been a tad fusty (think leaky — but charming! — showers and plenty of overstuffed chintz chairs), they’ve also provided top-notch service and hefty doses of old world charm.

London, United Kingdom

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May 30, 2014

Video: Do U.S. hotel chains attempt to domicile overseas to avoid paying U.S. taxes? | cnbc.com

Discussing if big U.S. hotel chains will attempt to domicile overseas to avoid paying U.S. taxes, with Patrick Scholes, SunTrust. SunTrust Robinson Humphrey (STRH) is a leading, full-service corporate and investment bank dedicated to helping you successfully manage and grow your company through a comprehensive range of strategic advisory, capital raising, risk management, financing and investment solutions. We also offer a complete array of sales, trading and research services in both fixed income and equity.

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May 28, 2014

Bulgari to open seahorse-shaped hotel in Dubai | arabianbusiness.com

Dubai-based real estate development company Meraas Holding on Tuesday signed an agreement with Bulgari Hotels and Resorts to bring the luxury hospitality brand to Dubai. The Bulgari Hotel in Dubai will be the world’s fifth Bulgari Hotels and Resorts property and will follow in the footsteps of Milan, Bali, London, and Shanghai and is anticipated to open in 2015.

arabianbusiness.com

Dubai, United Arab Emirates

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Why Hospitality Net Leads B2B in Hospitality

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Hospitality Net

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May 28, 2014

Intesa Sanpaolo agrees to sell a stake in NH Hoteles | reuters.com

Intesa Sanpaolo said on Monday it agreed to sell a stake in Spain's NH Hoteles for 132.7 million euros ($181.2 million) through a share sale and purchase agreement with China's HNA Group. After the transaction is completed, Italy's biggest retail bank will hold 7.6 percent of the Spanish hotels group, Intesa said in a statement.

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May 27, 2014

IHG spurns acquisition bid, but talk of possible sale not finished | hotelmanagement.net

It'll cost more than $10.1 billion to own the InterContinental Hotels Group. We know that because over the weekend, an unnamed suitor approached the UK-based chain, owner of such brands as Crowne Plaza and Holiday Inn, with an offer of that amount to take over the company. The news was reported by UK's Sky News, and already there is speculation about who it may have been, with names such as Starwood Hotels & Resorts Worldwide and Starwood Capital Group (no relation) being tossed out.

hotelmanagement.net

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May 25, 2014

Langham's new CEO on reaching 500 Hotels | hotelsmag.com

Langham Hospitality, which recently announced plans to pump up its portfolio from 22 hotels to a whopping 500 hotels in the next 10 years, isn’t really aiming for the impossible, Robert Warman, new CEO of the Hong Kong-based group recently told HOTELS. The former president and CEO of the Capella Hotel Group and 18-year veteran of The Ritz-Carlton Hotel Co. said the ambitious expansion will be powered by a predominance of management deals in combination with opportunistic acquisitions. Perhaps most importantly, growth will be significantly powered by a new brand targeting Chinese business travelers, the name of which will be revealed in the near term. What Warman could disclose at this time was that one of the group’s existing Hong Kong properties would be rebranded into this new offering.

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May 6, 2014

Is new supply ‘the biggest disruptor coming our way?’ | hotelmanagement.net

Now may be an ideal environment for hotel business, but what should exit strategies look like in five years? Experts from HVS, RW Baird, PKF Hospitality Research and PwC agree that now is a good time to transact hotels. “We’re in the sweet spot; fundamentals are exactly where we want them to be,” said PKF-HR’s Mark Woodworth. Still, chinks in the armor do exist that will affect exit strategies moving forward.

hotelmanagement.net

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April 22, 2014

Robert Futterman on Tommy Hilfiger’s Raleigh buy | therealdeal.com

Robert Futterman happened to be sitting next to Tommy Hilfiger during an Art Basel Miami Beach party in December when the fashion icon mentioned his plan to launch a new hospitality venture. That’s how the seeds were planted for Hilfiger’s Raleigh Hotel purchase, which closed last week, said Futterman, who brokered the deal for sellers David Edelstein and Sam Nazarian. The real estate heavyweight told The Real Deal how he seized the opportunity to mention that Edelstein, Futterman’s longtime client and investment partner, and Nazarian could be interested in selling Hilfiger the 105-room hotel at 1775 Collins Avenue.

therealdeal.com

Miami, Florida, United States

External Article

April 22, 2014

Leela group to sell Delhi, Chennai hotels | indiatimes.com

Hotel Leelaventure Ltd is in talks with sovereign wealth funds of Abu Dhabi, Qatar and Malaysia to sell its prime properties in Delhi and Chennai for around Rs 1,850 crore to pare debt. The firm, which owns, operates and manages hotels, palaces and resorts, is likely to hive-off the two properties into separate entities. While the foreign investor may pick up 74% interest in the hived-off entities, Leelaventure will retain 26% stake and continue to manage the five-star hotels, industry sources said.

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April 22, 2014

Richard Branson's Virgin Hotels Are Slow to Launch | wsj.com

Billionaire entrepreneur Richard Branson made headlines in 2010 when he boasted that Virgin Hotels, his new boutique hospitality brand, would shake up the industry. The first property was projected to open within 18 months, with up to two dozen more operating within seven years. Reality, so far, hasn't lived up to those lofty expectations. Nearly four years after Mr. Branson's boast, Virgin Hotels still hasn't opened a single property, and has had to deal with the departure of two top executives. The brand's maiden hotel is due to open in Chicago in the fall—a year behind schedule—and has been marred by cost overruns.

Chicago, Illinois, United States

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April 18, 2014

Virgin Hotels to Open Nashville Hotel by 2016 | wsj.com

Virgin Hotels, billionaire entrepreneur Richard Branson's boutique hospitality brand, announced it would open a 240-room hotel in Nashville, Tenn. Nashville is the third city where Virgin Hotels has announced plans to open a property, following Chicago and New York, though the company has offered few details on what the hotels will look like or what amenities they might offer. The Chicago property is slated to open first when it welcomes guests in the fall.

Nashville, Tennessee, United States