HVS EMEA Hospitality Enews - Week Ending 26 September 2008

The latest hospitality news from Europe, the Middle East and Africa

Sator Bags Stake In Baglioni

At a time when many are nailing shut their wallets or purses, Sator too finds itself reaching for a hammer; not to knock in nails with but to crack open the piggy bank that is its private equity fund. Out spilled €30 million, which, happily enough, was exactly the amount needed to buy a stake of 40% in Baglioni Hotels. With this money the two Italian firms were wed into a strategic partnership. The honeymoon is likely to be spent in destinations including the Middle East and Russia, where Baglioni will be looking to secure the management contracts or suitable buildings it will need if it is to expand beyond Italy, France and the UK and double its collection of 14 luxurious boutique hotels.

Plantation Resort In Seychelles To Be Redeveloped

How appropriate that a company called Mantis should answer a praying resort. The resort that has been seeking deliverance from the evils of liquidation is the Plantation Club Resort & Casino, which stands on the island of Mahé, the main island in Seychelles. Mantis Development International, in partnership with European Hotels and Resorts, is to invest US$350 million in the renovation of the existing hotel, turning it into a 130-suite, four-star hotel, and the construction of two new luxurious boutique hotels. Mantis Development International is part of Mantis Collection Group, which has a portfolio of 14 luxurious hotels worldwide.

Limitless Opportunity On The Edge Of The World

The developer Limitless, which is part of the group Dubai World, is to spend US$350 million on the creation of World Island Resort. The development will cover 10.5 hectares of a man-made island that lies 14 km off the coast of Dubai, on the northeastern edge of that gigantic development The World. Limitless will begin work later this year by building 53 villas and waterfront homes, 30 of which will provide the accommodation for a luxurious hotel that will be built subsequently. Limitless aims to be operating the finished resort in around 2010.

Earth Moves For Dolce Munich

Had you been standing close enough, your hair would have been ruffled this week by the breeze created by Striebel Projektmanagement’s swing of the ceremonial pick. As the tip struck the sod, those nearest to the point of impact would have reached for their combs to tidy themselves up before the builders arrived to develop the 2.5 acres surrounding the shallow hole they had seen created. The topsoil to be disturbed belongs to the town of Unterschleißheim, in Bavaria, and, from the naked earth beneath, Dolce Hotels and Resorts’ second hotel in Germany will rise. The 255-room, four-star Dolce Munich, which should be finished in April 2010, will stand next to the BallhausForum Munich, Dolce’s existing conference facility.

Accor Keen On House In The Garden Of England

Accor is reported to have applied for permission to develop a 96-room budget hotel in the town of Maidstone, in Kent, southeast England. If Accor is successful in its bid, then the four-storey hotel would replace a Victorian terraced house recently vacated by the town council.

Kiessling's Corner

Accor has opened a new Ibis hotel in Madrid. Located on the northern outskirts of the Spanish capital, in the Polygon Industrial Zone, in Alcobendas, the 120-room Ibis Madrid Alcobendas is the tenth hotel in Madrid to have Accor’s Ibis brand. Accor currently has 35 properties (across all of its brands) in Spain and these hotels share a total of 3,689 rooms. By Gabriele Kiessling, Analyst, HVS Madrid

Hospital Will Need To Be Patient If It Wants To Become A Hotel

Devon Lifestyles Exeter, a developer, has applied for permission to convert Dean Clarke House into a 49-room hotel. The building, which served as a hospital for some 200 years until 1974, dates from the mid eighteenth century and is Grade II listed. Dean Clarke House stands in the Southernhay district of the city of Exeter, in southwest England.

Discover The Russia & CIS Hotel Investment Conference

Above you the onion domes, around you a press of eager hospitality types, and passing before your eyes a slideshow of distinguished speakers and panellists. Welcome to Moscow and the 4th Russia & CIS Hotel Investment Conference. This year’s event is to be held at the Ritz-Carlton from 21 to 22 October and is entitled “The Art of Discovering Hotel Investment Opportunities”. Helping to paint in the fine detail on this broad canvas will be Charles Human, the managing director of HVS Hodges Ward Elliott and one of the “esteemed panel of industry leaders” who will be sitting with Davor Gjivoje, the chairman of Networld, and discussing “Inbound and Outbound Investment Opportunites”. You might also brush up against Tatiana Veller, the managing director of the Moscow branch of HVS Executive Search; she will be on a panel asking “Where Are The Staff Coming From?”. Add some colour to your life this autumn by visiting www.russia-cisconference.com click here to book your place.

Myhotel Brighton Rocks

My, my, myhotel Brighton, what a lot of nominations you have secured ahead of the European Hotel Design Awards 2008. Why, why is the hotel on the south coast of England up for awards in five categories? Well, well, because it satisfies the criteria: a new hotel (the 80-room hotel opened this summer) that “not only demonstrate[s] creative excellence but commercial viability”. Myhotel Brighton was developed by Mill Group, which was introduced to myhotel with assistance from HVS. The European Design Awards 2008 will be held at the Business Design Centre, in London, from 4 to 5 November.

Absolute Share Price Performance Over the Past Week 18-25 September 2008

Whitbread - Credit Suisse had an 'Outperform' rating and gave a target price of 1,420p.

Accor - The share price fell back on news of worrying European economic data.

InterContinental Hotels Group - Jefferies placed a 'Hold' rating.

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

Russell Kett, Managing Director rkett@hvs.com
Charles Human, Managing Director – HVS HWE chuman@hvshwe.com
Hadrien Pujol, Director hpujol@hvs.com
Demetris Spanos, Managing Director – HVS Athens dspanos@hvs.com
Hala Matar Choufany, Managing Director – HVS Dubai hchoufany@hvs.com
Christopher Mumford, Managing Director – Executive Search cmumford@hvs.com
Philip Bacon, Managing Director – HVS Madrid and Managing Director, EMEA & Asia – HVS Shared Ownership Services pbacon@hvs.com
Adrian Jones, EMEA Hospitality Enews Author ajones@hvs.com