Development External Articles - Hospitality Net

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January 28, 2014

ALIS to showcase positivity for lodging industry in 2014 | hotelmanagement.net

The theme for this month’s Americas Lodging Investment Summit here is “Going Up?”, and while the idea reflects the positive performance metrics the U.S. lodging industry delivered in 2013, the question mark suggests that the industry’s increasingly higher occupancy, average daily rate and revenue per available room numbers posted in the past few years aren’t necessarily a sure-fire thing going forward.ALIS last year attracted more than 2,400 owners, developers, hotel company executives and other attendees to the L.A. Live complex, site of this year’s conference as well.

hotelmanagement.net

Los Angeles, California, United States

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January 27, 2014

Top 10 new London hotels in 2014 | londonhotelsinsight.com

This is a guest post by Nassar Khalil who provides an alternative perspective to standard business consulting, operating as an independent hotel and hospitality consultancy. Nassar shares with us the 10 new London hotels set to have an impact in 2014. 2013 saw continued growth of London’s hotel industry, with the opening of numerous new properties at all levels of the market, from the stylish London Edition to the fashionably affordable Nadler Soho. The first quarter of 2013 saw record numbers of overseas tourists visit the capital, damping down fears of a post-Olympics slump.

londonhotelsinsight.com

London, United Kingdom

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January 16, 2014

Japan's tourism boom fuels hotel growth | hotelmanagement.net

Is Japan the next development boom? Numbers sure don't lie. Last week, government data showed that a record 11.25 million tourists visited Japan last year, up 22.7 percent from a year earlier. Why the boost? Analysts say a combination of factors are involved, including a weaker yen, cheaper air fares, less strict visa requirements in the region and an overall boost to Asia-Pacific tourism, which has seen tourist visits double since 2,000. Hoteliers are taking note. For one, Red Planet Hotels, the major shareholder of budget brand Tune Hotels. It's CEO told CNBC it plans to open up 20 hotels by 2020 in Japan to benefit from this growing trend.

hotelmanagement.net

External Article

December 19, 2013

Hotels Targeted by U.S. Activists Seeking Higher Returns | bloomberg.com

Strategic Hotels & Resorts Inc. (BEE), owner of Manhattan’s JW Marriott Essex House, is under pressure from Orange Capital LLC to consider a sale. Morgans Hotel Group Co. (MHGC), an operator of boutique properties, is being targeted by both billionaire Ron Burkle and an activist firm after a shareholder ouster of its board. Chatham Lodging Trust (CLDT) last month rejected a takeover bid from a top investor that is considering more moves.

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November 29, 2013

Report: Blackstone going IPO route for La Quinta | hotelmanagement.net

Blackstone Group's indecision over whether to sell or seek an IPO of La Quinta has reportedly now been settled. Bloomberg reports that Blackstone plans to file for an initial public offering rather than sell the company on the private market, as it believes it will get higher returns through an IPO.

hotelmanagement.net

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November 28, 2013

Dorchester Seeks to Add Luxury Hotels From New York to Asia | bloomberg.com

Dorchester Collection is seeking to add to a group of hotels that have hosted celebrities from Marilyn Monroe to Queen Elizabeth II by opening properties in New York and Asia. “Beijing, Shanghai, Hong Kong and Singapore are cities where we’d like to be represented,” Christopher Cowdray, chief executive officer of the Brunei Investment Agency-owned company, said in a Bloomberg Television interview. “We would like to be in New York and that’s really our key focus.”

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November 27, 2013

Accor to Separate Operating From Investing Units in New Plan | bloomberg.com

Accor SA, Europe’s largest hotel operator, announced a reorganization that will focus the business on operating and owning hotels, reversing a previous plan to divest properties. The stock fell as much as 5.5 percent in Paris trading. Accor, based in the French capital, will build two businesses managed by a new executive committee with regional directors, the company said in a statement today. HotelServices will operate 3,600 properties, including Ibis, Novotel and Sofitel hotels. HotelInvest will own and purchase hotels. The new strategy spells “the end of expansion through leases and no further disposals of hotels, unless they are structurally underperforming assets,” the company said in the statement.

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November 19, 2013

Dubai Atlantis Resort to be sold to mitigate debt | hotelmanagement.net

The Atlantis Hotel resort on Dubai’s Palm Island is preparing to be sold by Istithmar, the investment arm of Dubai World, according to Construction Weekly. The Investment Corporation of Dubai is currently in talks to purchase the Atlantis as part of a bid by the government to buy off domestic assets in debt. While no price has been set for the resort, Istithmar took control of the property last year when it purchased a 50 percent stake in the hotel for $250 million, a stake previously held by Kerzner International.

hotelmanagement.net

Dubai, United Arab Emirates

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October 15, 2013

Hotel Ritz and Crillon Paris Are Deep Into Their Beauty Sleeps | hotelchatter.com

While the Peninsula Paris might be slowly revealing its Beaux Arts façade on Avenue Kléber, a hop and a skip down the Champs Élysées, two other Parisian luxury hotels are still very much off in the land of dreams. Hotel Ritz, on terribly chic Place Vendôme, is coming up to the midway point of its two-year plus closure, or as the French put it so much more eloquently, “vers une nouvelle legende”. If possible, the building is even more obscured from prying eyes than it was last time we walked by, earlier this year.

hotelchatter.com

External Article

October 9, 2013

Hotels Swell in Manhattan | wsj.com

New York is experiencing its biggest hotel expansion in a generation, attracting a host of new brands and developers betting that the good times will continue. But the race to build or convert dusty properties into modern lodgings already has sparked a debate about whether the additional rooms can be absorbed without putting downward pressure on hotel-room rates by next year. The number of hotel rooms in Manhattan is expected to rise about 10% to more than 90,000 by the end of 2014, says Jones Lang LaSalle Hotels, which tracks hotel projects planned and under way. Manhattan's expected lodging growth tops the U.S. by a wide stretch and is more than double the rate of the next fastest-growing major markets, Miami and Washington, according to forecasts from Lodging Econometrics.

New York, New York, United States

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October 2, 2013

As Travel Picks Up, Hotels Gain Allure for Investors | nytimes.com

Skittish developers have delayed new hotels across much of the country until the economy returns to health, and financing does, too. But in Austin, developers aren’t that wary. A $300 million JW Marriott hotel, the biggest JW Marriott in the country and the city’s biggest hotel at 1.2 million square feet, is under construction on a full block near the Capitol. Developers broke ground on a Westin over the summer and a $350 million Fairmont will be going up a few blocks away.

Austin, Texas, United States

External Article

September 13, 2013

In Hilton I.P.O., a Losing Deal Turns Around | nytimes.com

In early 2009, it looked as if Blackstone, the investment firm, had struck one of the worst deals ever. Two years earlier, Blackstone had acquired Hilton Hotels for $26 billion, one of the largest buyouts of all time. It was a big deal but just part of the prevailing trend of a heady era. Private equity shops were targeting ever- larger companies, global real estate values were booming and hotel occupancy rates were high.

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September 12, 2013

Abu Dhabi Fund Buys 31 Accor-Branded Hotels in Australian Cities | bloomberg.com

Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, bought Australia’s largest owner of hotels, Tourism Asset Holdings Ltd., gaining ownership of 31 properties in major cities. A subsidiary of the Abu Dhabi fund has signed a conditional contract to buy the closely held hotel owner, the Sydney-based company said in an e-mailed statement without disclosing a value. The hotels will continue to be operated by Paris-based Accor SA (AC), Tourism Asset Holdings said.

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September 9, 2013

The New Hotel Tycoons: Why Private Equity Loves The Lodging Industry | forbes.com

What do Hilton Hotels, the Palms Casino Resort, Motel 6 and the Fairmont San Francisco have in common? They’re all owned by private equity firms. The leveraged buyout industry can’t seem to get enough of the risky lodging industry acquiring over 4,700 hotels and resorts since 2000 with a total deal value of over $80 billion. Blackstone, Apollo, Starwood Capital and Oaktree are among some of the biggest buyers of the last decade.

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September 3, 2013

Capitas, IFA set up JV targeting the development of Yotel branded hotels in Saudi Arabia | arabnews.com

Capitas Group International (CGI) has announced the signing of an exclusive joint venture (JV) agreement with IFA Hotel Investments (IFA HI), targeting the development of Yotel branded hotels across the Kingdom. IFA HI is the majority owner of Yotel, a specialized international hospitality brand, headquartered in the UK. Considered the “iPod” of the hotel industry, Yotel’s rooms provide a flexible and convenient first class experience in a modern, efficient and comfortable space. Situated in both airport and city center locations, YOTEL hotels currently operate within Heathrow and Gatwick airports, Amsterdam Airport Schiphol and in New York’s Times Square.

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September 2, 2013

Tata's Orient-Express Hotels investment value plunges by 67% | indiatimes.com

The value of Indian Hotels Company's (IHCL) six-year old stake in Orient-Express Hotels has reduced by two-thirds, further narrowing the options India's largest hospitality chain has for the British hotels-to-trains group. IHCL, known best for operating the Taj chain, holds about 7% stake in Orient-Express, which is now worth $86 million based on the NYSE-listed firm's Friday closing price. According to IHCL's latest annual report, its cost of acquisition towards Orient-Express shares was $262 million.

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June 19, 2013

China's Dalian Wanda to Build Hotels Overseas | wsj.com

Chinese property conglomerate Dalian Wanda Group plans to expand its luxury real-estate and hotel business overseas, as it builds the world's first Chinese luxury hotel outside of China's mainland to cater to the country's booming outbound travel market. Wanda said it plans a luxury hotel and development in London with a total investment value of £700 million ($1.09 billion). It will build luxury apartments and a luxury hotel in London, it said.

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June 12, 2013

Australia: Blackstone eyes $574m hotel bid | theaustralian.com.au

BLACKSTONE is tipped to secure a $574 million-plus hotel portfolio from its private equity rival Brookfield as the pair continue to dominate local real estate. Canada's Brookfield is selling five hotels as it recasts plans for the $1 billion-plus Wynyard redevelopment in central Sydney. Sources say the project will likely make a "grand statement" and feature a dynamic office skyscraper in line with other landmark projects the group has embarked on globally.

theaustralian.com

External Article

June 10, 2013

Hotels eye opportunities in Africa | bdlive.co.za

WITH limited opportunities for expansion in South Africa, a slew of hospitality players are eyeing the rest of the continent, where an undersupply of quality hotels and upbeat economic growth prospects are fuelling the scramble. Protea Hospitality Group has signed a deal that will see it moving into its 10th African country, Rwanda, the company said last week.

External Article

June 8, 2013

Hotel construction is lagging the real estate rebound in many U.S. markets | dallasnews.com

Apartment building is booming. And warehouse construction is picking up steam. Even office building activity is rebounding. But what about hotels? Well, not so much. Even though hotel occupancy levels and rates have grown significantly in the last couple of years, there’s very little hotel development going on in most U.S. markets, according to Mark Woodworth with PKF Hospitality Research.

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