HVS EMEA Hospitality Newsletter – Week Ending 10 May 2013
TOGA AND FAR EAST ORCHARD LAUNCH NEW FUND
Australian-based property development, construction, investment and management firm Toga Group, the parent company of European serviced apartment company Adina Apartment Hotels, has formed a joint venture with Singapore-based developer Far East Orchard that will seek acquisitions and invest in hotel developments across Europe and Asia-Pacific. Orchard has provided €180 million for the joint venture, which is to start with the development of 50 serviced apartments and hotels (6,800 rooms) under the Adina, Medina and Vibe brands and Travelodge hotels across Germany, Denmark, Hungary, Australia and New Zealand. The joint venture also plans to use acquisitions to expand the portfolio of Adina properties in Germany from five to 15-20.
DOMINVS INVEST IN ASTON HOTELS
Dominvs Investments has purchased Hotelier Group’s Aston Hotels portfolio for an undisclosed sum. The portfolio comprises three hotels across the UK: the 71-room Aston Hotel Dumfries, in southern Scotland; the 78-room Aston Hotel Sheffield/Rotherham, in the north of England; and the 80-room Aston Hotel Darlington, in northeast England. Dominvs now plans to invest substantial capital in the properties to refurbish and upgrade the hotels and add leisure facilities. The group are also on the look out for further acquisitions in order to expand the chain. “We have invested over £100 million since 2012 on property and are delighted with our latest acquisition of the Hotelier Group,” said Preetpal Ahluwalia, a director with Dominvs Investments.
MELIÁ MAKES WAVES IN ANDALUSIA...
Meliá International has opened its first Meliá Hotels & Resorts property on the Andalusian coast in Spain: the beachfront Meliá Atlántico – Isla Canela, which has 358 guest rooms and is set in 10,000 m² of gardens. The hotel’s building was first constructed in 2000 and has recently been renovated.
...AND MOBILONA TO BOLDLY GO WHERE NO HOTEL HAS GONE BEFORE
Also in Spain, Apogee Investors has signed an agreement with Los Angeles-based Mobilona Space Hotels to manage the €1.5 billion financing for the 2,000-room Mobilona Space Hotel on Barcelona Island, a man-made island off the coast of Barcelona. At 984 ft tall, the new-build, first of its kind, ‘Space Hotel’ is expected to become the tallest hotel in Europe when completed. It is to be part of a mixed-use project also containing condominiums and a 24-hour shopping centre (the Space Mall). “Immersive displays inside the Mobilona Space Hotel on Barcelona Island will provide guests with stunning views of some of the most remote galaxies in our universe,” said Mobilona’s chief executive officer, Jermone Bottari. Mobilona is also developing Space Hotels in Los Angeles and Hong Kong.
TWO NEW DOUBLETREES TO BLOSSOM IN LONDON
After undergoing a £20 million refurbishment, two former Jarvis hotels in London are to reopen this summer, refreshed and rebranded as the 228-room DoubleTree by Hilton London Hyde Park and the 189-room DoubleTree by Hilton London Ealing, bringing Hilton Worldwide’s portfolio in and around London to 31 properties. The two hotels will remain under franchise agreements with Westmont Hospitality. Additionally, it was announced this week that the opening of the much anticipated Shangri-La Hotel, at The Shard in London has been delayed. The 202-room hotel is now due to open in the 310-metre-high tower in September.
THE GRITTI IS DEFINITELY NOT GROTTY
The Gritti Palace, a Luxury Collection Hotel in Venice has reopened this week following an extensive 15-month renovation. The historic palace was once the home of the Doge of Venice, Andrea Gritti, in 1525, and it became a luxury hotel in 1895. The €35 million restoration is part of Starwood Hotels & Resorts’ plan to invest more than €150 million in renovating its most iconic Luxury Collection Hotels in Europe. The Gritti Palace now has 61 guest rooms and 21 suites.
ELEVEN DAYS UNTIL THE BOUTIQUE HOTEL SUMMIT
HVS is delighted to be Platinum Sponsor at Europe’s only conference for the boutique and lifestyle hotel sectors: Boutique Hotel Summit 2013, which takes place in just 11 days on 22-23 May at The Montcalm Marble Arch in London. HVS subscribers can receive a 10% discount on delegate tickets by entering the promotional code HVS1 when prompted on the ticket booking page www.boutiquehotelssummit.com/delegates/buy-tickets. This year’s speakers include Mark Chambers, managing director at Eden Hotel Collection; Aline Keuroghilian, head of PR and marketing at Mr & Mrs Smith; Preben Vestdam, founder of HotelSwap; Nathalie Salas, who runs the Perfect Boutique Hotel website;HVS London’s very own chairman, Russell Kett; plus many more!
SCANDIC’S GOT A HOTEL ON GOTLAND
Scandic has signed a franchise agreement with GotlandsResor for its first hotel on the Swedish island of Gotland. The Visby HamnHotell, in the medieval city of Visby (a UNESCO World Heritage Site), has just emerged from a refurbishment and extension, and in June it will open as the 214-room Scandic Visby. “We’ve long had our eye on Visby and in Scandic Visby we’ve found the perfect hotel for holidaying families as well as business and conference guests,” said Anders Ehrling, Scandic’s president and chief executive officer.
TASHKENT GETS A HYATT REGENCY
Hyatt Hotels Corporation plans to make its debut in Uzbekistan with its Hyatt Regency brand. An affiliate of the group has signed a management agreement with State Unitary Enterprise for the 300-room Hyatt Regency Tashkent. The hotel is expected to open in Uzbekistan’s capital in January 2015. Hyatt now has six hotels under development in the CIS.
MANDARIN ORIENTAL ON THE BOSPHORUS
Mandarin Oriental is set to manage a hotel in Istanbul, Turkey. The Mandarin Oriental Bosphorus Istanbul is expected to open in 2016 in the city’s Besiktas area, on the European shore of the Bosphorus. The 130-room hotel is owned and being developed by Astas Real Estate Investments and Tourism. Once open, it will become Mandarin Oriental’s second hotel in Turkey – Astas is also developing the Mandarin Oriental Bodrum, Turkey, which is scheduled to open in 2014.
IT’S GOING TO GET WYNDY AT DUBAI MARINA BUT IT’S A GREAT DAY FOR RIYADH
Wyndham Hotel Group has signed a management agreement with Sigma lll Ltd, a subsidiary of Dubai-based, British-owned development company The First Group, for the Wyndham Dubai Marina. The 33-storey, 497-room hotel, expected to open within the next three years, will be the group’s first Wyndham Hotels and Resorts property in the UAE. The group currently has one Wyndham hotel in operation in Qatar, and two in the pipeline for Bahrain and Saudi Arabia. Wyndham also announced this week the opening of its first Days Inn hotel in Saudi Arabia. The 56-room Days Inn Hotel Olaya in Riyadh is the first of ten Days Inn properties due to open in Saudi Arabia as part of an exclusive development agreement between Wyndham and Riyada International Hotels and Resorts.
VIDA’S COMING TO DOWNTOWN DUBAI
Five years after it launched its upmarket Address Hotels + Resorts chain, Emaar Hospitality Group has unveiled a new brand, Vida, which is targeted at the younger generation of business and leisure travellers. “The profile of today’s global traveller is changing, with a more youthful, upwardly mobile audience now seeking a distinct hospitality experience to suit their needs,” said Emaar Propeties’ chairman, Mohamed Alabbar. The Emaar-owned and operated Qamardeen Hotel in Dubai will be converted into the group’s first Vida, becoming the Vida Downtown Dubai.
SHAZA HOTELS AND ANANTARA TO DEBUT IN DOHA
Dubai-based Shaza Hotels is planning its first appearance in Qatar with a hotel in Doha. The 180-room Shaza Doha is scheduled to open by spring 2016. “We are a natural fit for this project and look forward to being a part of this aspiring city,” commented Shaza Hotels’ president and chief executive, Simon Coombs. Shaza currently has two hotels in operation, in Bosnia & Herzegovina and Saudi Arabia, and a further seven (including the Shaza Doha) under development across the EMEA region. Additionally, Thailand-based Minor Hotel Group announced its hotel debut in Qatar this week (it already has an Anantara spa in Doha). The group is to team up with Al Rayyan Hospitality to develop the Anantara Doha Island Resort and Spa. The resort will be located on a 13-hectare island just off the coast of Doha, with 91 guest rooms, 34 pool villas and 11 two- and three-bedroom overwater pool villas. The resort is due to open early next year and will become Minor’s ninth property in the Middle East. The group currently operates five properties in the UAE and has three under development in the country due to open this year. It is also looking at opportunities for further growth in the region with its Anantara, AVANI and Oak brands.
DOUBLETREE AND SWISS-BELHOTEL TO MAKE THEIR FIRST APPEARANCE IN BAHRAIN
Hilton Worldwide has signed a management agreement with Tashyeed Properties Company for its first DoubleTree by Hilton hotel in Bahrain. The 350-room DoubleTree Suites by Hilton Bahrain – Juffair is expected to open at the end of 2015 in Manama. The hotel will be part of a wider upscale mixed-use development. Hilton now has a pipeline of 13 DoubleTree by Hilton properties due to open in the Middle East over the next three years. Hilton isn’t the only new kid on the block in Bahrain. Swiss-Belhotel has signed a management agreement with Miami Property Company that will see it makes its debut in the kingdom with the 29-storey, 149-room Swiss-Belhotel Seef. The hotel is due to open in the first quarter of 2014 in Manama’s central business district.
HOLIDAY INN MAKING ITS WAY TO MAURITIUS
InterContinental Hotels Group has signed a franchise agreement with Airport Hotel Ltd for its second property in Mauritius, and its first Holiday Inn for the country. The Old Manor House and its three-acre grounds at Plaisance Airport are to be developed and transformed into the 140-room Holiday Inn Mauritius – Plaisance Airport.
RITZ-CARLTON TO TEE OFF IN RABAT
Construction is underway on The Ritz-Carlton Company’s first property in Rabat, Morocco. The Ritz-Carlton, Rabat is due to open within the grounds of the Royal Dar Es Salam golf club in December 2014. Near to the tenth tee of the main course, the urban resort, a ten-minute drive from the city centre, will have 120 guest rooms, 15 one-bedroom villas and five two-bedroom villas. Ritz-Carlton now has three hotels under development in Morocco.
ABSOLUTE SHARE PRICE PERFORMANCE OVER THE PAST WEEK – 2-9 MAY 2013
Meliá Hotels International – Meliá lifted 2.5%.
Rezidor Hotel Group – Rezidor rose 0.7% on low volume.
InterContinental Hotels Group (IHG) – Cantor cut IHG to "hold".
Phone: +44 20 7878 7701