Dalata Acquires Freehold Interests in Dublin

Dalata Hotel Group has entered into an agreement with Kieran Wallace to purchase the freehold interest of certain elements of two hotels in Dublin, Ireland, for a consideration of €62.5 million, payable in cash. The group has acquired the freehold of the ground and lower-ground floors of the 304-room Clayton Hotel Cardiff Lane, in the city’s Docks area, bringing the number of rooms owned in this hotel by Dalata to 193. Additionally, Dalata has agreed to acquire the freehold of the core hotel of the 353-room Clarion Hotel Liffey Valley, to the west of Dublin, including 159 bedrooms, the leisure centre, meeting rooms, reception, bar and restaurant, car park and two vacant retail units. The deal is expected to close in June 2017.

Nine Group Purchases Hotel in Reading

Real estate investment company Nine Group has acquired the Best Western Plus Reading Moat House for an undisclosed sum from affiliates of MCAP Global Finance (UK). The 129-room hotel is five miles from Reading city centre, around 42 miles west of London. The hotel is housed in a Grade II-listed former 19th-century mill house overlooking the River Loddon. The deal is “a very strategic and long-term purchase” for Nine Group said the firm’s director, Vivek Chadha. The group now plans to spend millions refurbishing and developing the hotel, which was on the market with a guide price of £12.5 million.

HVS Releases the HVI Online Tool

This week, HVS London has unleashed the Hotel Valuation Index Online. This new facility gives you the chance to explore the 33 markets included in this year’s HVI publication in greater detail. Not only that, our new online service also shows the percentage change in RevPAR and value for each market in easily downloadable graphs. Delve into the detail at www.hvs.com.

Leonardo Signs a Second NYX Hotel for Germany…

Following the announcement last week of Leonardo Hotels’ first NYX hotel for Germany (due to open in Munich in 2018), the group has signed a lease agreement for its second NYX project for the country. A former office building in Düsseldorf, in western Germany, is to be transformed into a 261-room NYX hotel. The hotel is scheduled to open in spring 2019.

…As NOVUM Continues its Expansion Across the Country

NOVUM Hotel Group has formed a strategic alliance with Aroundtown to take over three hotels across Germany previously operated under international brands. Two four-star hotels in Hamburg, with a total room count of 339, are to be operated under the group’s NOVUM Select brand and a three-star property in Osnabruck will be reflagged as a NOVUM hotel. All three hotels are to undergo renovation. The pair are also planning further deals. Commenting on the partnership, Dave Etmenan, NOVUM’s managing director, said, “'We see it as a significant milestone in our development. As we work together with this highly professional property investor, we can see a whole range of new opportunities opening up that will help both sides meet their ambitious growth plans.”

A Dusit Thani Resort to be Constructed in Ethiopia

Dusit International has got together with Fretsega Real Estate & Construction to bring a Dusit Thani resort to Ethiopia, in the Horn of Africa, marking the Thailand-based group’s first appearance in the country. A total of US$150 million is to be invested in the 358-unit resort, which is to be developed on a 400,000 m² plot of land in Legadadi, 23 km from the capital, Addis Ababa. Construction is due to start in 2017 and the hotel, which will comprise nine two-storey buildings, is expected to be ready in four years.

First Ritz-Carlton Signed for Jordan

Marriott International has signed an agreement with Al Eqbal Real Estate Development for the first Ritz-Carlton hotel in Jordan. The 233-room Ritz-Carlton Amman is expected to open in 2020 at the heart of the Jordanian capital. The project also includes 90 Ritz-Carlton Residences, housed across a 20-storey building. “Jordan is an integral part of Marriott International’s growth strategy in the Middle East. We have a strong presence in the country with five hotels in operation and now, with the signing of The Ritz-Carlton, we are on track to double our portfolio in the market in the next four years,” said Alex Kyriakidis, president and managing director, Middle East and Africa, Marriott International.

Mama Shelter to Make Middle East Debut in Dubai

AccorHotels has decided that Dubai will be the location for its first Mama Shelter hotel in the Middle East. The hotel, which will be designed by French designer Philippe Starck, is excepted to open before 2020.

Absolute Share Price Performance Over the Past Week – 11-18 May 2017

Disclaimer: Information provided above has been gathered from various market sources. HVS has not independently verified the accuracy of the information provided. Interested parties should not rely on the information as statement of facts and are advised to make their own independent checks to verify the information provided. For further information, please feel free to contact HVS London.