Global Hospitality Report (May 31, 2016)

HVS Releases the Spring 2016 Broker Survey 

HVS gets you inside the mind of today’s hotel broker. HVS has just released the Spring 2016 Broker Survey, a report featuring insights from more than 30 North American hotel brokers into hotel transactions markets in the U.S. and Canada. What’s the scoop? The cost of debt is on the increase, and REITs have declined on the hotel transactions scene. Which are the most active markets, and which entities are buying and selling? The Spring 2016 HVS Broker Survey also collects the latest information on marketing times, cap rates, and transactions levels in major U.S. and Canadian hotel markets.

HVS Key Takeaways: Hotel Opportunities in Latin America (HOLA) 2016 
By Luigi Major

The 2016 HOLA conference roused both enthusiasm and caution for Latin America’s hotel industry. Major markets benefit from their alignment with the U.S. dollar, but hurt from oversupply. Smaller markets, however, may be poised for growth.

Hong Kong Gambling Tycoon Purchases Cuscaden Bungalow for S$145 Million 

The Hong Kong-listed conglomerate Shun Tak Holdings Ltd., founded by gambling billionaire Stanley Ho, has made its first foray into the Singapore property market. Shun Tak Real Estate (Singapore), a subsidiary of Shun Tak Holdings paid S$145 million (S$2,145 per square feet per plot ratio, including development charges) – one of the highest sums ever paid for a landed house – for 9 Cuscaden Road, a bungalow put up for sale by the descendants of famed philanthropist Tan Tock Seng. The site is flanked by The St. Regis Singapore and Four Seasons Hotel, and is located within a prestigious enclave about 200 meters off Orchard Road. The 25,741 square feet freehold site is zoned for hotel development and is the first hotel redevelopment site on sale in the Orchard area in more than a decade. However, the plot could also be used for residential development, subject to approvals.

Starwood's Grand Plan for London 

The 303-room Sheraton Park Lane Hotel in London is to be reflagged under Starwood Hotels & Resorts' Sheraton Grand brand later this year, marking the first appearance of the brand in the UK capital. The 90-year-old iconic property has been getting a makeover with a multimillion pound renovation taking place at the hotel. It will be renamed the Sheraton Grand London Park Lane. HVS has been pleased to advise the owners of this hotel with regard to this redevelopment. Starwood launched the Sheraton Grand chain in 2015 and it currently comprises 27 hotels, six of which are in the Middle East and Europe.


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