Featured in this EMEA Hospitality Newsletter - Week Ending 28 March 2008
Minor International (MINT) and Kempinski Hotels are forming a joint venture that will look into strategic development opportunities in Europe and Asia. MINT is the leading hotel operator in Thailand (16 hotels under brands including Anantara, Marriott and Four Seasons) and one of the largest spa operators in the Asia Pacific region. So, MINT should surely know how to rub Kempinski up the right way. It will look for locations in Asia and Kempinski will reciprocate by focusing in particular on the Mediterranean region and sites suitable for the Anantara brand.
Fattal Buys A Couple Of Tulips
Fattal Hotel Management is reported to have paid a total of US$60 million to take ownership of two hotels in Israel that are already under its management. The 282-room Golden Tulip Club Eilat and the soon-to-be-open 247-room Golden Tulip Privilege Eilat, which both stand in the resort of Eilat, were sold by Israeli property billionaire Yitzhak Tshuva.
Blue Circle Cements Hotel Deal In Israel
The Israeli press reports that Blue Circle Hotels, which is owned by the Gertler family, has paid Avner Levy US$16.6 million for the 103-room, three-star Mercure B and P Tel-Aviv, which stands in the Israeli city of Tel Aviv. It is a city that the Gertlers know well: they have a stake of 40% in the 270-room Tel Aviv Carlton, a 50% stake in the 250-room Tel Aviv Metropole and are destined to reopen the 60-room Tel Aviv Savoy in August.
Only The Best For Africa
America’s Best Franchising (ABF) is well-known in the USA, is becoming acquainted with India and Argentina, and is on nodding terms with neighbouring Canada. Now a friendly hand belonging to MIDC of Nigeria has reached out across the ocean and into it ABF has placed a master licence for the America’s Best Inns & Suites brand covering not only Nigeria but also the nearby West African countries of Togo, Benin, Liberia and Sierra Leone. Countries elsewhere in Africa, including Tanzania, are covered too. MIDC will begin by applying the brand to a new 25-room hotel in the Nigerian city of Lagos and to an existing 220-room hotel elsewhere in Nigeria.
A First Ibis Opens In Kuwait
The first Ibis hotel has opened in Kuwait; and where that one leads, another is sure to follow. The 175-room Ibis Salmiya will be joined early next year by a sister in the Sharq district of the Kuwaiti capital. Accor plans to have 22 Ibis hotels open in the Middle East by 2011.
Rome Cavalieri Hilton To Join The Waldorf=Astoria Collection
It is a touch over two years since Hilton Hotels Corporation announced that The Waldorf=Astoria Collection was the name of its new luxury brand. And in that time five hotels have entered the collection. The first in Europe to walk in the door is the Rome Cavalieri Hilton, in Italy. The 370-room hotel will open under its new name later this spring. Over the next 12 months the hotel will gain a third swimming pool and a new congress centre.
Hotell Skogshöjd To Take The Scandic Brand
In January 2007 Pandox, the hotel property company acquired Hotell Skogshöjd, a 225-room hotel in the town of Södertälje, on the outskirts of the Swedish capital Stockholm. On 1 May 2008 the hotel will run down its Best Western flag and salute instead the flag of Scandic. Pandox, which has signed a revenue-based lease agreement with Scandic Hotels, will complete an investment of SKr20 million (roughly €2 million) in the hotel.
Absolute Share Price Performance Over the Past Week 20-27 March 2008
NH Hoteles - The company was the subject of fresh takeover speculation.
InterContinental Hotels Group - The share price fell as the company traded without the right to dividend.
Accor - The company announced plans to open five Pullman hotels in China by 2010.
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