HVS EMEA Hospitality Enews - Week Ending 30 October 2009
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.
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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.
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