HVS EMEA Hospitality Enews - Week Ending 27 November 2009
End-Of-Year Promotion | All the effort that the Hyatt Regency Istanbul has put into renovation work in recent years will have its reward on 1 December. That is the day when the 360-room hotel will be promoted to Hyatt’s own premier league and become the Grand Hyatt Istanbul. It is a select league is Grand Hyatt – there being only 38 hotels worldwide – and Turkey’s first entry into the league already has consolidation on its mind, with additional renovation work planned as far ahead as 2011.
Doubletree On Its Way To Saudi Arabia | The first Doubletree by Hilton hotel in Saudi Arabia goes to the city of Al Khobar on the country’s east coast. Hilton Worldwide has signed a management agreement with Hamad Bin Abdulaziz Almousa Trading Group, for whom the 304-room Doubletree by Hilton, Al Khobar is a first foray into the hospitality segment. The hotel will be part of the high-rise Shobily development and the hotel is expected to open in the final quarter of 2012.
Cairo In Receipt Of A Radisson Blu | Rezidor Hotel Group now has a sixth Radisson Blu hotel in Egypt with the opening of the Radisson Blu Hotel, Cairo Heliopolis. The 427-room hotel, which Rezidor announced in May 2008, is the company’s first in the capital Cairo. With the Park Inn Sharm el Sheikh Resort included, Rezidor now has a total of 2,350 rooms in Egypt.
Barnsley House To Be Renovated | Renovation work on Barnsley House, in Barnsley, Gloucestershire, is to begin next February. The 18-room, Grade II listed hotel, which is known worldwide for its gardens, will be fully refreshed by next spring. Calcot Health and Leisure this summer paid a reported £6.6 million to rescue the hotel and The Village Pub from administration.
Kiessling's Corner | Iberostar has opened the new five-star boutique hotel Grand Hotel Salomé on Costa Adeje, in Tenerife; the hotel has 23 suites. The Mandarin Oriental Barcelona has opened after an investment of €150 million. The hotel has 98 rooms, and its most expensive suite measures 235 m². The Vincci Selección Posada del Patio is to be the first five-star hotel in Málaga. The hotel is expected to open in March 2010. According to the owner, the total investment in the hotel was €22 million. By Gabriele Kiessling, Analyst, HVS Madrid
- InterContinental Hotels Group - UBS had a 'Sell' rating and raised its target price from 620p to 700p.
- Starwood Hotels & Resorts - Fitch Ratings assigned a 'BB+' rating to Starwood's senior notes due 2019. Fitch kept its rating outlook at 'Negative'.
- Sol Meliá - Natixis had an 'Add' rating and cut its target price from €9.0 to €8.3.
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