Whitbread - Shares fell despite a reported 73% rise in sales for Whitbread's Costa Coffee outlets. | Accor - S&P Equity Research changed its recommendation to "hold" from "sell" and lowered the share price estimate to €33 from €35. | NH Hoteles - The company traded at €3.68, 13.8% below its volume weighted price of €4.27. — Photo by HVS

InterContinental Hotels Group’s Splendid New Venture | For 34 years the 447-room InterContinental London Park Lane has been the only InterContinental branded hotel in London. However, this is all about to change as InterContinental Hotels Group (IHG) has announced this week that it is to open its second InterContinental property in the city. IHG has signed a 20-year management agreement with its franchisee Splendid Hotel Group for the InterContinental London Westminster. This 254-room hotel is expected to open at the end of 2011 at an estimated cost of £100 million.

A New Garden To Be Planted At Luton Airport | The previous four times that Hilton Worldwide and London-based Ability Group got together resulted in two Hilton hotels and two Doubletree by Hilton properties being developed in the UK. For their fifth project the two companies decided to start a gardening group; their first meeting, a fruitful venture, saw the signing of a management agreement for a second Hilton Garden Inn property at Luton Airport near London. Work on the site is to start later this year and the 250-room hotel is expected to open in 2011 alongside the 157-room Hilton Garden Inn Luton North.

Autumn Brings A Golden Tulip To Noordwijk | What do you get when you cross Golden Tulip Hospitality with Golden Green Hotels? A new hotel, of course, but not just any old hotel. The seed planted from such a merger could only flower into a Golden Tulip property. The ground was prepared for this venture when the two companies signed a franchise agreement which will see the 82-room Mercure Noordwijk hotel in the resort town of Noordwijk, the west Netherlands, rebranded as the Golden Tulip Noordwijk Beach as of 1 November 2009. This is not the first time that Golden Green has crossed paths with Golden Tulip as this is the fifth franchise agreement between the two companies.

Sign Up For A Free Webinar | Do you want to gain an insight into how to plan for the future in these uncertain times? If your answer is a resounding yes then Bench Events' webinar could be just the thing for you! The webinar, titled Securing Your Investments In Today’s World In The Hospitality Industry Against Unknown Events, Safety & Security Of Guests, Staff and Property, is to take place next week at 14:00 on Tuesday 3 November. The event is to be moderated by HVS London’s very own Russell Kett and will feature a world class panel of industry experts. Click here for more information or to register.

A Tale Of Two Imperials | Cairn Hotel Group has bought the freehold to the former Swallow-branded Imperial Hotel in the city of Newcastle, northeast England. The 122-room hotel was placed on the market by a fund managed by F&C Reit Asset Management for a guide price of £5 million. This is Cairn Hotel Group’s fifth hotel in Newcastle and it is rumoured that the group intends to invest a sizable amount of money in refurbishing the hotel. In the south of England, the county of Kent to be exact, permission has been granted for a £12 million extension and refurbishment of the Mercure Hythe Imperial Hotel and Spa. Work on the 100-room hotel is expected to start at the beginning of 2010.

Fantastic Four On Yas Island | Yas Island, a mixed-use development off the coast of Abu Dhabi, has been a hive of activity this week with not one but four new hotel openings. InterContinental Hotels Group (IHG) unveiled the 428-room Crowne Plaza Abu Dhabi, Yas Island and the 164-Unit Staybridge Suites Abu Dhabi Yas Island. This is IHG’s second Crowne Plaza hotel in the UAE’s capital, alongside the 236-room Crowne Plaza Abu Dhabi, but the new Staybridge Suites is its first extended stay property in the emirate. Rezidor made its debut in Abu Dhabi as the curtain was raised to reveal the 397-room Radisson Blu Hotel, Abu Dhabi Yas Island and the 204-room Park Inn Abu Dhabi, Yas Island, the UAE’s first Park Inn.

Rocco Forte To Rock Cairo | Rocco Forte Hotels has signed a management contract with the Egyptian General Company for Tourism and Hotels (EGOTH) for the Shepheard Hotel in Cairo, Egypt. Rocco Forte will take on the management of the 290-room hotel in November 2009 but will operate it outside of its main brand for the time being. The hotel is to close in December 2010 for a full refurbishment and it will then reopen at the end of 2012 as a Rocco Forte Collection hotel. This is Rocco Forte’s fourth management contract in the Middle East and Africa region with hotels in the pipeline for the UAE, Saudi Arabia and Morocco.

Kiessling’s Corner | The news from Spain by Gabriele Kiessling, Analyst, HVS Madrid. Parador is to invest €26 million in the renovation of its establishments in Tortosa and Aiguablava. The work is expected to be finished in 2012 and after the renovation Parador’s hotel in Tortosa will have 70 guest rooms instead of 72. From 2010 onwards, Domus Hoteles will manage and operate the Almanzor Hotel in Ciudad Real under its City Express brand; the two-star, 62-room hotel is to undergo a light renovation. Since the beginning of October, German hotel chain Maritim Hotels has managed the Esquinzo Beach Hotel in Fuerteventura. The four-star, 389-room hotel was previously managed independently.

  • Whitbread - Shares fell despite a reported 73% rise in sales for Whitbread's Costa Coffee outlets.
  • Accor - S&P Equity Research changed its recommendation to "hold" from "sell" and lowered the share price estimate to €33 from €35.
  • NH Hoteles - The company traded at €3.68, 13.8% below its volume weighted price of €4.27.

About HVS

HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.