Finance Europe Press Releases

June 26, 2009

Report from 1st joint Cornell - ESSEC Annual Forum on Commercial and Hospitality Real Estate

On June 5th, Cornell University’s School of Hotel Administration and ESSEC Business School jointly organised the first Annual Forum on Commercial and Hospitality Real Estate at the Hilton Arc de Triomphe in Paris, France. Led by Professor Dan Quan of the Centre for Real Estate at Cornell University and Professor Michel Baroni of Essec Business School, nearly 100 alumni and other industry executives from the real estate, banking and financial sectors participated in a lively debated on current developments in hospitality finance and real estate.

ESSEC IMHI

Paris, France

Press Release

June 10, 2009

Accor Sells Stake in Club Méditerranée

As part of its refocusing strategy, Accor today sold 1,063,830 Club Méditerranée shares, corresponding to around a 4% interest in the company’s capital, to Group Crédit Agricole SA for €9.40 a share, representing a total amount of €10 million.

Accor

France

Press Release

June 4, 2009

Orient-Express Hotels Sells Lapa Palace Hotel, Lisbon

Orient-Express Hotels Ltd. (NYSE: OEH) (http://www.orient-express.com), owners or part-owners and managers of 51 luxury hotels, restaurants, tourist trains and river cruise properties operating in 25 countries, today confirmed that it has sold its Lisbon hotel, Lapa Palace, to a private Portuguese investor for EUR29.4 million, ($41.8 million).

Belmond

Portugal

Press Release

May 26, 2009

Golden Tulip says 13 Netherlands hotels bankrupt | reuters.com

Loss-making Dutch hotel operator Golden Tulip will file for bankruptcy for 13 hotels in the Netherlands that it directly owns and operates, it said on Tuesday. The decision will not affect franchised or affiliated hotels, of which there are 720 in more than 50 countries, and the affected hotels will continue to operate during the proceedings, the company said. The group owns 60 hotels directly.

reuters.com

The Netherlands

Press Release

May 5, 2009

UK Hotel Industry Continues To Suffer Through First Quarter Of 2009

Deloitte, the business advisory firm, has confirmed that the hotel industry continued to suffer during the first quarter of 2009 with a sharp decline in leisure and corporate travel. UK cities overall experienced a decline in revenue per available room (revPAR) by an average of £5 (9%).

Deloitte

United Kingdom

Press Release

April 30, 2009

Interview with Berno-H. Feuring, founder of Feuring Hotel Consulting GmbH

In 1959, Berno H. Feuring was 21 years old and the youngest hotel director in Germany. He founded his own company in the same year and for 50 years now has - on behalf of hotel chains and investors - developed hotels mainly in the luxury segment and from the first idea to their opening. Amongst them are impressive names like Le Royal Méridien Hamburg, the Steigenberger Hotel de Saxe Dresden, Le Royal Mansour Casablanca or the Bristol in Warsaw, which was re-structured by Feuring. To this day, Feuring as a company has been involved in more than 400 hotel projects all over the world. In the following interview, the senior managing director talks about the special challenges in the hotel sector, his financial strategy as well as passing on the company to the next generation.

Feuring – Visionary Hotel Development

Germany

Press Release

April 15, 2009

Spain Tourism Sector Faces Consolidation - Barcelo | Reuters

Spain's tourism sector will face further consolidation as structural problems and sharp falls in numbers of new visitors hit earnings, the co-chairman of the country's third largest hotel group said. "The sun and beach model isn't exhausted, but with low profitability, companies are increasingly less able to act and, in the long term, we will pay," Grupo Barcelo's Simon Pedro Barcelo said in an interview in Expansion on Tuesday.

reuters.com

Spain

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Hospitality Net

Press Release

March 17, 2009

Real Estate Eyes Future At MIPIM 2009

Cannes | Some 18,000 delegates, spanning all sectors of the global real estate industry and representing 80 countries, leave Cannes today saying that MIPIM confirmed their belief that €15 trillion international property industry remains a solid long-term investment asset and that the industry is getting back to basics.

Reed Midem

Cannes, France