Firstly, we would like to congratulate Andy Murray for winning Wimbledon and for joining our hotel family following his acquisition of Cromlix House Hotel near Dunblane.

On a more business-like level, the financial pressures that have been brewing for some years now are finally boiling over into a rush of deals. Already in the first six months of 2013, we have seen some big portfolio sales, corporate transactions and structural refinancing. Two of the biggest portfolio deals were related to the ongoing clearance of entities in receivership in the UK (namely a portfolio of 42 Marriott Hotels and the Malmaison/Hotel du Vin collection).

Of particular note is the clear emergence of investment out of China. Notable deals in the region included: New Century Hospitality’s acquisition of the Golden Tulip in Offenbach, Germany (€10.5m); HNA Group acquiring a 20% stake in NH Hoteles (€234m); China Glory National Investment acquiring the Venus Rock Golf Resort in Cyprus (€290m); and China State Construction Engineering Corporation (CSCEC) to invest in the Viceroy Dubai Palm Jumeirah project in Dubai (US$1bn).

Philip Camble
Director
+44 20 7195 1482
Whitebridge Hospitality

Related