HVS EMEA Hospitality Newsletter – Week Ending 17 September 2010

Accor To Sell Its Stake In Groupe Lucien Barrière | In line with its strategy to refocus on its hospitality business, Accor has confirmed this week that it intends to divest its entire stake in Groupe Lucien Barrière for an indicative price range of €16.10 to €19.60 per share. Accor’s 49% stake in the French casino and hotel operator represents a maximum of 17,511,725 shares. The final price issue is reportedly going to be set on 30 September and Groupe Lucien Barrière is to float on the stock market at the beginning of October.

Dutch Group To Get Citizenship In London | After opening its first hotel in the UK last week for €100 million (the 198-room CitizenM Glasgow, in Scotland), Amsterdam-based chain CitizenM has announced plans to build two new properties in London. Construction is due to start later this year on a 209-room hotel behind the Tate Modern gallery, in the city’s Southbank area, and a 384-room property above Tower Hill London Underground station. Both of the new hotels are expected to open near the end of 2011, in time for the 2012 Olympic Games. CitzenM’s chief operating officer, Michael Levie, commented that: “the London sites were acquired at a low point in the hotel trading cycle.” CitizenM hasn’t just set its sights on expanding in Europe, however, as the company is headed across the Atlantic to the USA with two sites confirmed for New York.

Russia Calling Out For Hotel Investment Spies | If you have been lurking around looking for hotel investment opportunities in emerging markets then it’s time to pull out your fur hat and head to the 6th Russia & CIS Hotel Investment Conference, which is to take place on 25-27 October 2010 at the Renaissance Moscow Monarch Centre Hotel. This large gathering of hotel investors, operators and developers from Russia and the CIS will not only provide you with ample opportunities to meet potential business partners, it will also help you get the inside track on new developments and how hoteliers are driving profits in these challenging times. Key speakers at this year’s event include Andrey Yakunin, VIY Management LLP; Murat Yilmaz, Capital Partners; Alexander Gendelsman, Azimut Hotels Company; and David Geovannis, London and Regional Properties LLC. Holding the fort for HVS London will be Russell Kett, Elke Geieregger and Saurabh Chawla. More details on the conference can be found at . Register by 24 September 2010 and you will receive a 15% discount on your ticket.

Act One: Radisson In Kaliningrad | The curtain rose this week for Brussels-based Rezidor Hotel Group’s Radisson brand as it took to the stage to make its debut in the Russian port of Kaliningrad, in the western most part of the Russian Federation. After a quick bow to its audience, the 178-room Radisson Hotel Kaliningrad threw open its doors and welcomed its first guest. Rezidor reportedly now has nine Radisson properties in operation in Russia.

Macdonald Hits Half A Century With A New Crown Jewel For Windsor | Privately owned British hotel group Macdonald Hotels & Resorts can now boast that it has 50 properties across the UK with the opening this week of the Macdonald Windsor Hotel, in the county of Berkshire, south England. The 120-room hotel has been developed in the shadow of Windsor Castle, on the site of the historic Caleys department store, which served the royal household for almost 200 years until it stopped trading in July 2006.

Adagio Strings Out A New Opening In France | Adagio City Aparthotels, a brand that was created in 2007 by Accor and Pierre & Vacances Center Parcs Group, is continuing its expansion across Europe with a new property in the town of Saint-Étienne, east central France. The 86-unit Aparthotel Adagio Saint-Étienne Centre, which is to due to open soon, is housed in the former Nouvelles Galeries shopping centre; the building underwent a full refurbishment to bring it in line with brand standards. According to Adagio’s website, by 2014 the brand plans to have 80 properties in operation across major European cities. Adagio’s debut in the UK is to take place in the northwest city of Liverpool in late 2010/2011.

Four Seasons But Two New Hotels | Canadian hotel firm Four Seasons Hotels and Resorts recently travelled to the Middle East to meet up with Switzerland-based development company Orascom Development. The result of this encounter was the signing of two management agreements for new hotels in the region. First to arrive will be the Four Seasons Resort Oman, which is expected to open in 2013 with 200 rooms and 75 residential units in the sultanate of Oman, at the Jebel Sifah integrated tourism complex, an hour’s drive from Muscat. Hotel number two is the Four Seasons Resort El Gouna, which is to open in 2014 in the resort of El Gouna, on Egypt’s Red Sea coast, with 150 rooms and 65 residential units. Commenting on the news, Scott Woroch, Executive Vice President Worldwide Development Four Seasons Hotels and Resorts, said: “We look forward to the opening of both our Oman and El Gouna resorts in the near future, and to continuing to explore new opportunities with Orascom.”

Gladen’s Tidings | The news from Spain by Esther Gladen, Business and Market Intelligence Analyst, HVS Madrid. The NH Príncipe de Vergara in Madrid has reopened after undergoing a refurbishment. The existing 173 rooms have been converted into 155 larger units, including eight junior suites with living rooms. A new audio system and new plasma televisions have been installed. The hotel now also offers 16 meeting and conference rooms for up to 150 people