HVS EMEA Hospitality Enews – Week Ending 28 November 2008
Baglioni Hotels Group To Expand Outside Of Europe | Some say that the best way to beat the credit crunch is to spend, spend and spend…Baglioni Hotels Group, its purse bursting with an investment of €30 million from Milan-based private equity firm Sator, is heeding this advice with a plan to take its brand of boutique hotels outside of Europe. The company currently has properties in the pipeline for locations such as Dubai and Marrakesh. Baglioni operates 13 hotels across Italy and France and one in London; however, it plans to nearly double this portfolio by 2012.
Interval International Counts Monte Cairo Among Its Affiliations | US Timeshare Company Interval International has affiliated its second property in Cairo: the 80-unit Monte Cairo resort will now be added to its global network of timeshare services alongside the Dream Plaza Vacation Club in Giza. Interval also currently has 11 affiliated resorts on Egypt’s Red Sea coast.
Raffles Hotels And Resorts To Gain A New President In The New Year | Diana Ee-Tan has been at the helm of Raffles Hotels and Resorts as President of the company since the integration of Raffles and Fairmont in 2006, and during this time Mrs Ee-Tan has seen another 15 hotels and resorts added to the company’s pipeline. However, Diana Ee-Tan has announced that she will be stepping down in January 2009 commenting that “This is an opportune time for a change and for someone else to take Raffles to the next level of expansion”. It has not yet been confirmed who is step up to wheel of the Raffles ship after Mrs Ee-Tan’s departure, but several candidates have been indentified.
Kiessling’s Corner | The latest news from Spain by Gabriele Kiessling, HVS Analyst, Madrid. Juan Antonio Hoteles has increased Valladolid’s hotel supply with the opening of the three-star, 56-room Hotel Topaco for an investment of approximately €300,000.The five-star Maricel Hotel, on the island of Majorca, recently completed an extension of an additional 22 rooms and a spa. Rafaelhoteles has increased its portfolio by opening the four-star, 132-room Rafael Hotel Forum Alcala in the city of Alcala de Henares northeast of Madrid. The owners of La Bodega Señora de Nevada are to construct a four-star, 32-room hotel in a former Finca in Villamena, in Granada; This hotel is expected to open in December 2009. IBB Hotels is to operate a new hotel in Menorca: the five-star Cugo Gran, owned by Gupo Von der Hayden, is expected to open in June 2009. IBB Hotels plans to expand its brand by another five hotels in Spain by the end of 2009.
Absolute Share Price Performance Over the Past Week 20-27 Novmeber 2008
- Marriott International - Marriott International was upgraded to 'overweight' by Thomas Weisel.
- Sol Meliá - Sol Meliá reported to be in uptrend while in top quartile by p/e.
- NH Hoteles - NH Hoteles' target price was lowered from €3.5 to €2.5 by JP Morgan.
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