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Appetite for quality hotel assets in Stockholm continues into 2013
According to Jones Lang LaSalle’s latest Hotel Intelligence report Sweden.
Investor appetite for Swedish hotel assets is expected to continue as we look to 2013 according to Jones Lang LaSalle Hotels' latest Hotel Intelligence report for Sweden. A stable economy, as a result of the country quickly rebounding after the economic crisis in 2009, and robust operating conditions in Stockholm has resulted in investment interest increasing and hotel assets in Stockholm showing one of the lowest yield requirements in Europe, at 5.9%.Transaction activity in 2012 at year-to-date June 2012 has amounted to just below $100 million. A total of four hotels changed owners, the largest transaction being the 4-star, 128 bedroom Renaissance Malmö, which was sold for €45 million to Fastighets AB Balder. Jon Hubbard, CEO UK and Northern Europe Jones Lang LaSalle Hotels commented: "The hotel investment market in Sweden is dominated by domestic investors and only a limited number of foreign acquisitions have been witnessed in recent years. Despite the presence of a number of foreign operators, Sweden is likely to stay predominantly in the hands of Nordic brands, which are well known to domestic visitors, who continue to account for the Lion's share of demand. This type of asset will continue to attract interest from domestic investors; however, they may struggle to raise the interest of international capital, which tends to focus on international branded hotels."
2013 Hotel Plus — the Mockup Hotel Room Show Launched in Shanghai
China's tourism industry has now entered a new era featuring industrial development and popularisation. Furthermore, tourist brands are becoming increasingly important in China. The quality and quantity of star-level hotels are linked directly to the development of China's tourism, its cities and commercial real estate. Moreover, the high demands from business travellers for business trips, enterprise meetings, out-house training and incentive travel are all factors driving the development of the hotel industry in China. The second edition of Hotel Plus – the Mockup Hotel Room Show (www.hdeexpo.com) will be launched in Hall W3 at the Shanghai New International Expo Centre from April 1st to 3rd 2013, and will be co-organised by the China Tourist Hotels Association and Shanghai UBM Sinoexpo International Exhibition Co., Ltd. The total exhibition area will be over 1000 sqm and serve as the annual assembly of the leading domestic and international hotel management groups, commercial property developers, hotel engineering & equipment suppliers, interior decorative material manufacturers, and hotel designers and architects. The Hotel Plus show is devoted to demonstrating the most cutting-edge decorative art and material technologies in hotel space design by setting up six demonstration suites in hotel guest rooms on-site. About Shanghai Hospitality Design & Engineering Expo.
ITC Classics growth destinations for 2013
With glorious climates, warm seas and divine scenery, Caribbean holidays have long been the preferred choice for holidaymakers looking for a luxury escape. ITC Classics predicts that demand for Caribbean holidays will continue in an upward trend in 2013, with a handful of new destinations expected to see greater growth than more traditional Caribbean hotspots. New flight connections, fabulous new hotels and a chance to discover more untouched corners of the Caribbean are prompting UK travellers to take a look at Grenada, St Vincent and The Grenadines, Bermuda, Mexico and St Lucia. “ITC Classics has been operating in the Caribbean for nearly forty years and we love it as much today as we did then. It’s so exciting to introduce our clients and their families to new islands, exposing them to the very best this diverse region has to offer,” comments Jennifer Atkinson, CEO of ITC Classics. ITC Classics is finding that clients who have enjoyed holidays on Barbados and Antigua are now looking to discover new islands. Grenada is an obvious choice. One of the most beautiful of all the Caribbean islands, the ‘Spice Island’ as it’s affectionately known, retains much of its traditional West Indian charm and offers a relaxed contrast to cosmopolitan Barbados. Grenada’s harbour-town capital, St Georges, with pastel coloured French villas and narrow, winding streets, is often voted the most attractive in the region. Guests have the choice of two wonderful hotels: Calabash and Spice Island Beach Resort, both offer every conceivable luxury with a refreshingly understated charm.
Key Appointments in the Industry
Congratulations to these new appointments…
The World Travel & Tourism Council (WTTC) announced the appointment of Caroline Plant to the position of Business Development Director. Ms Plant was previously Group Marketing Director for Manchester Airports Group (M.A.G.). Reporting to WTTC’s President & CEO, David Scowsill, Ms Plant will be responsible for generating membership, driving sponsorship revenues and developing new business opportunities by working closely with WTTC Members. She will take up her new position on 20 August 2012.
COMO Hotels and Resorts has appointed Paul Linder to head up the group’s two Bali properties — inland adventure retreat Uma by COMO, Ubud and its flagship wellness resort, COMO Shambhala Estate. Swiss-born Paul Linder joins COMO with a wealth of experience managing distinguished hotels and wellness resorts all over the world. His previous role was with Chiva-Som in Thailand, where he was General Manager for over 10 years. On his appointment, Paul says: “I am thrilled to have joined COMO at such an exciting time for both Uma Ubud and COMO Shambhala Estate. The Estate is renowned for its 360-degree approach to wellness and was recently voted the world’s best destination spa by Condé Nast Traveller magazine and Asia’s best destination spa by Asia Spa magazine. It is an honour to be overseeing one of the most respected wellness retreats in the world.”
The Latest in Hotel Opening
Aloft Goes To Germany Setting Sights In Stuttgart and Munich. Remember all the hype when Starwood introduced its Aloft brand? They had us waiting and waiting for Lexington (MA) to be the first ever Aloft destination, and then Canada got the scoop. That was only four years ago, and believe it or not, there are now over 60 Alofts worldwide. On this side of the pond, we’ve so far had to make do with Aloft London ExCel (where we witnessed some Photoshop battling), and more recently Aloft Brussels Schuman. That’s set to change with the announcement of two new hotels in Germany, Aloft Munich and Aloft Stuttgart, both scheduled to open in 2015. Aloft Munich will be next to the city’s central station and easily accessible from the international airport, with a total of 184 guestrooms. Aloft Stuttgart will be slightly smaller, with 165 rooms in a new mixed-use complex called MILANEO, which combines shopping, restaurants, entertainment venues, office space, and residences in the city’s European quarter. Given that it’ll be a few years before the hotels open, we expect them to sport those “floating moments” and other new furniture designs the brand has been tempting us with. Both hotels will also feature the usual Aloft re:mix lounge and w xyz bar for guests to mingle over a game of pool, or curl up with a book. There’s the re:charge fitness centre, and 24-hour re:fuel deli to grab a bite to eat or a drink on the go.
The Luxury Collection Hotels & Resorts Invests $200 Million to Restore Iconic Heritage Hotels in Europe — Hotel Alfonso XIII in Seville, Hotel Maria Cristina in San Sebastian, The Gritti Palace in Venice, and Prince de Galles in Paris, Brought Back to Original Splendour.
From the International Luxury Travel Market (ILTM), The Luxury Collection Hotels & Resorts, part of Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT), today announces that the company and its owners are investing $200 million to renovate and restore some of its most celebrated hotels in Europe. The brand is already off to a strong start with the reopening of two iconic hotels in Spain this year: Hotel Alfonso XIII in Seville and Hotel Maria Cristina in San Sebastian. This will be followed by the debut of the restored Gritti Palace in Venice and Prince de Galles in Paris in 2013. “We are delighted to reintroduce these historic icons, carefully restored by some of the world’s most renowned architects, interior designers and craftsmen who have preserved the authentic elegance and distinct personality so beloved by its guests, while bringing the landmark hotels into the 21st century.” “The Luxury Collection has an intimate understanding of today’s luxury travellers who, more and more, aim to stay with a brand that offers a consistent level of impeccable service, while celebrating each hotel's heritage and unique character,” said Paul James, Global Brand Leader, The Luxury Collection Hotels & Resorts, St. Regis and W Hotels Worldwide. “We are delighted to reintroduce these historic icons, carefully restored by some of the world’s most renowned architects, interior designers and craftsmen who have preserved the authentic elegance and distinct personality so beloved by its guests, while bringing the landmark hotels into the 21st century.” To read more, Click Here.
Rezidor opens Park Inn by Radisson Lille Grand Stade in France. The Rezidor Hotel Group has opened the 127-room Park Inn by Radisson Lille Grand Stade in France. The chic and colourful mid-market property is located in the city of Villeneuve D’Ascq (nicknamed “green technopole” thanks to the implantation of many researchers) and adjacent to one of Europe’s most high tech football venues, the Grand Stade Lille Métropole that will host the LOSC Lille Metropole football club, major events & conferences, and the 2016 UEFA European Football Championship. “We are delighted to bring our dynamic brand Park Inn by Radisson to Lille, Northern France’s most important economic and cultural city. “The triangle of Belgium, Luxembourg and Northern France is an important cluster zone for Park Inn by Radisson, and we aim to further strengthen our presence in this area,” said Kurt Ritter, president, Rezidor. The Park Inn by Radisson hotel offers guests unrivalled access to football and rugby matches, concerts and events in the Grand Stade. Nearby companies include Auchan, Bayer, Decathlon, France Telecom, Leroy Merlin, and Petrovox – so the area also hosts major business meetings and conferences. As part of the Grand Stade Lille Métropole complex, the hotel scores with excellent transportation links and great connectivity. Train stations serving Thalys and Eurostar are easily accessible, and the airport is less than 10 kilometres away.
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