Whitbread - Shares rose this week after the announcement that the Premier Inn chain is expected to increase from 42,740 rooms to 55,000 in the next four years. | Starwood Hotels & Resorts - Share prices increased this week despite the company reporting a drop in revenue in its fourth-quarter results for 2009. | Accor - Goldman Sachs raised Accor's target price to €40.00 from €39.50 after raising estimates to reflect a swifter recovery in hotels in Europe than previously forecast. — Photo by HVS

Choice Brings Some Clarion And Quality To Poland | Worldwide hotel franchisor Choice Hotels International has made its debut in Poland this week with not one but six new properties in the country. All of the hotels are owned and managed by Polish real estate company Hotel System®, a subsidiary of property developers Salwator Capital Group. The new additions to Choice’s portfolio are the 133-room Clarion Hotel Grand Baltic Resort & Spa, in the town of Dzwirzyno in northwest Poland; the 116-room Quality Hotel System Katowice South, in the city of Katowice in the south; the 101-room Quality Hotel System Krakow West and the 159-room Quality Hotel System Krakow North, in Cracow (Krakow); the 107-room Quality Hotel System Poznán North, in the city of Poznán in central Poland; and the 107-room Quality Hotel System Wrocław NEast, in Wrocław in the southwest.

Hilton’s Adventures In Gelendzhik and Liverpool | Hilton Worldwide has signed a franchise agreement with InvestGroup Hotel LLC for the 379-room Hilton Gelendzhik Resort and Spa, which is scheduled to open this summer in the resort town of Gelendzhik, on the Black Sea, in Southern Russia. Once opened, this hotel will be Russia’s second Hilton-branded property along with the 273-room Hilton Moscow Leningradskaya, in Moscow. Hilton Worldwide also officially opened its first Hilton-branded hotel in the city of Liverpool in northwest England this week: the 215-room Hilton Liverpool, which has become the group’s fourth property in the city.

Stockholm Swaps A Park Inn For A Radisson Blu | The city of Stockholm in Sweden was expecting a new Park Inn hotel; however, Rezidor Hotel Group has changed its mind and decided to give the Swedish capital a new Radisson Blu instead. The 418-room Park Inn Stockholm Waterfront Hotel, which is currently under development, is to be rebranded as the Radisson Blu Waterfront Hotel, Stockholm. When it opens at the beginning of 2011, this will be Radisson Blu number six for Stockholm.

A New Lease Of Life For The Shepherds Bush Pavilion | The London Borough of Hammersmith & Fulham has granted planning permission to London-based company 58 Shepherds Bush Green LLP for the conversion of the Shepherds Bush Pavilion, in west London, into a 242-room four-star hotel. The Grade II listed building, which opened as a cinema in 1923 and was later also used as a bingo hall, has lain empty since 2001. Part of the building will be demolished during the work but its famous façade will remain intact.

Rezidor Extends Its Partnership With Mvelaphanda Holdings | Rezidor Hotel Group currently has an agreement with South African investment company Mvelaphanda Holdings (Pty) Ltd for the 144-room Radisson Blu Hotel Waterfront in Cape Town, South Africa. This week the group has extended this joint venture agreement to cover the management of all existing and future Rezidor properties (and all Rezidor brands) in South Africa, Lesotho and Swaziland.

Accor Feels The Pull Of Morocco | Accor Hotels has opened its first Pullman-branded hotel in Morocco. The Pullman Mazagan Royal Golf & Spa opened this week in El Jadida Bay, in the port of El Jadida, on Morocco’s Atlantic coast. The 117-room property, which previously operated under Accor’s Sofitel brand, has just undergone an extensive renovation.

Interval International’s Vacation In Egypt | Global timeshare company Interval International has affiliated the Porto Vacation Club in Egypt to its network. The club, which is being developed by Amer Group, will initially comprise the mixed-use Porto Marina complex on Egypt’s Mediterranean coast in the town of El Alamein; the complex will include a 378-room hotel and 1,200 apartments. Later this year Golf Porto Marina, with 5,100 apartments and a luxury hotel, will become part of the club. Porto Sokhna, on the Red Sea, will bring another 1,600 apartments and a 42-unit all-suite hotel to the Porto Vacation Club in 2011.

Taj Hotels Heads For The Hills... | ...Well, the Egyptian real estate company Palm Hills Development (PHD) to be exact. Taj Hotels Resorts and Palaces has signed a memorandum of understanding with PHD which will see the Indian hotel company make its debut in Egypt by managing PHD’s three hotels. The hotels are currently being constructed in PHD's projects in Hacienda Bay on the north coast, Ain El Sokhna on the Red Sea and the city of Aswan. The first property to open out of the three will be a 200-room boutique hotel in Hacienda Bay in 2013.

Starwood Hotels & Resort's 2009 Fourth-Quarter Results | Starwood Hotels & Resorts has reported an adjusted EBTDA of US$247 million for the fourth quarter of 2009. RevPAR for hotels in Europe decreased by 1.8% and RevPAR for the Africa and Middle East region decreased by 11.9%. Total revenue for owned, leased and consolidated joint venture hotels was US$430 million for the three months ending 31 December, a decrease of 12.8% on the same period in 2008. Worldwide RevPAR for total hotels in the last quarter of 2009 was reported to be US$101.55, a decrease of 7.2% on the same period in 2008. However, occupancy for total hotels worldwide reached 61.9%, an increase of 0.7% on 2008. Starwood’s chief executive officer Frits van Paasschen commented that “After being buffeted by headwinds throughout 2009, our portfolio is set to begin a rebound in 2010 from a deep drop-off”.

The Fractional Summit In London | For those of you interested in fractional real estate then this is your month! The Fractional Summit, the largest fractional real estate conference in Europe, is taking place over the 18 and 19 February at the London Marriott Hotel Grosvenor Square. Philip Bacon, managing director of HVS Shared Ownership Services (EMEA & Asia) will be taking part in the conference. Click here to book your ticket or for more information on the event.

  • Whitbread - Shares rose this week after the announcement that the Premier Inn chain is expected to increase from 42,740 rooms to 55,000 in the next four years.
  • Starwood Hotels & Resorts - Share prices increased this week despite the company reporting a drop in revenue in its fourth-quarter results for 2009.
  • Accor - Goldman Sachs raised Accor's target price to €40.00 from €39.50 after raising estimates to reflect a swifter recovery in hotels in Europe than previously forecast.

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.