HVS EMEA Hospitality Enews - Week Ending 21 August 2009

Steigenberger Hotel Group Sold

The Frankfurt-based Steigenberger Hotel Group has been sold to Egyptian tourism company Travco for an undisclosed sum. Travco has acquired a 99.6% stake in the company from the Steigenberger family as part of a plan to expand its international operations.

Emaar Gets Two New Addresses In Dubai

Emaar Hospitality Group’s five-star hotel chain The Address Hotels + Resorts already has two properties in Dubai, UAE: the 196-room The Address Downtown Burj Dubai and the 242-room The Palace – The Old Town. Now the chain has announced that it is to further expand its portfolio in the emirate with The Address Dubai Mall and The Address Dubai Marina, which are expected to open with 244 and 200 rooms, respectively, by the end of 2009.

Four Seasons Hotel London To Be Transformed

The Four Seasons Hotel London, on Park Lane, has temporarily closed its doors to the public in order to undergo an extension and a complete renovation and refurbishment. The scope of the work includes an entirely new floor and a rooftop spa. The hotel is expected to reopen in 2010.

Bespoke Made Merry

If you ever find yourself taking a stroll around Sherwood Forest, in the county of Nottinghamshire, UK, you are unlikely to come across Robin Hood or any of his merry men in this day and age, but you might just spot Bespoke Hotel Group’s latest addition to its growing portfolio: the Clumber Park Hotel & Spa. The 73-room property, which is owned by Leeds-based Moorgarth Leisure, will be managed by Bespoke.

Travelodge Sees A Bright Future On The Wirral

A new Travelodge hotel is to open in the seaside town of New Brighton on the Wirral Peninsula, northwest England, as part of Liverpool-based Neptune Development’s £60 million regeneration plan for the town. The 66-room hotel will be part of a mixed-use building, which is due to be completed in 2011.

Ode To The International Hotel Conference

As summer fades and starts to slip away, fear not the coming of autumn and the shortening of days; for the arrival of autumn brings us even closer to the seventh International Hotel Conference! From the 21 to 23 October hospitality professionals from 50 countries will be gathered at the Hilton Molino Stucky, in Venice, Italy, to hear the 100 speakers and peruse the Exhibit Hall. HVS London will be represented by Russell Kett, Tim Smith, Gabi Baumann and Sophie Perret. Those who book by 31 August will receive a €50 discount per night on accommodation at the Hilton Molino Stucky and a free water taxi transfer to and from the airport. Click here for more information.

Kiessling’s Corner

Gabriele Kiessling, HVS Analyst, Madrid, with the news from Spain. A new hotel in Cordoba is planned for development with a total investment of €1.6 million from the local government; an existing building in the Peñarroya-Pueblonuevo area is to be converted into the four-star, 11-room hotel. The Camino de Santiago (a collection of old pilgrimage routes) has attracted investment from the hotel industry. A total of seven upscale and seven budget establishments are planned for development at locations along the Camino routes for an investment of more than €44 million. Horreos del Camino will be responsible for the construction of the seven upscale hotels in O Cebreiro, Tricastela, Sarria, Portomarin, Palsa de Rei, Arzua and O Pino. Viajes Viloria and Travelodge will develop the budget hotels in Portomarin, Palas de Reis, Melide, Arzua, O Pino and Santiago de Compostela.

Absolute Share Price Performance Over the Past Week 13-20 August 2009

Whitbread - Share prices rose amid rumours that the company could be a possible bid target for private equity firm Duke Street.

InterContinental Hotels Group (IHG) - Cazenove upgraded IHG to "outperform" from "in-line".

Rezidor Hotel Group - Despite a fall in share prices this week, Rezidor reached a nine-month high on high volume.

For the latest in the hospitality industry, please visit: http://www.hvs.com. You are also welcome to contact the following personnel.