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Asia Pacific on track for another record year in international visitor arrivals
International visitor arrivals into Asia Pacific destinations have expanded at better than eight per cent over the first part of the year according to preliminary estimates released by the Pacific Asia Travel Association (PATA). Across the 31 destinations for which data is currently available, this translates into more than eight million additional arrivals over and above those received for the corresponding periods of last year. These results are consistent with the growth predictions made by the PATA forecasts of visitor demand and place the region well on target to achieve an expected international inbound volume of around 495 million for the full 2013 calendar year. First half results for 2013 are available for 16 of the Asia Pacific destinations – which incidentally also account for 84 per cent of the inbound arrivals volume so far this year – and at close to 145 million foreign arrivals, are within three per cent of the predictions as made in the PATA forecast report. “Forecasts with this degree of accuracy, detail and a timely quarterly update are essential if we are to effectively respond to opportunities as they emerge,” said Martin J. Craigs, Chief Executive Officer of PATA. “Additionally, numbers such as these alert investors to the risks, and of course the many rewards offered by Asia Pacific's world-leading visitor economy.”
Jones Lang LaSalle’s Capital Markets Alternative Investment team and Hotels & Hospitality Group has announced the completion of two hotel funding acquisitions of Premier Inn buildings in central London and the forward funding sale of a Premier Inn in Winchester.
Exterior Premier Inn LondonActing on behalf of Standard Life Investment, the team acquired Premier Inn Goodman’s Fields, Aldgate. The proposed 250 bed hotel was bought on a forward commitment basis at a price of £39 million reflecting a net initial yield of 5.50%. In addition, on behalf of CBRE Global Investors, the team has acquired a 90 bed Premier Inn in Dalston on a forward funding basis at a price of £9 million which reflects a net initial yield of 5.65%. Outside of the capital, Jones Lang LaSalle has completed on a £9.2 million sale of a Premier Inn forward funding in Winchester on behalf of Reef Estates. The 101 bed hotel was sold to AXA Real Estate at a net initial yield of 5.45% According to Jones Lang LaSalle, the price achieved reflects a new benchmark for the funding of a regional Premier Inn.
Carlson Rezidor Hotel Group reaches 220 eco-labelled hotels across Europe, the Middle East and Africa
Rezidor, one of the most dynamic hotel companies worldwide and a member of the Carlson Rezidor Hotel Group, continues to go green: across Europe, the Middle East and Africa, Carlson Rezidor counts more than 220 eco-labelled hotels – and is on track to become the first international hotel group to have all its properties eco-labelled by the year 2015. "We are proud that two-thirds of our entire portfolio in operation is eco-labelled. Carlson Rezidor is a responsible organisation – we care for our planet and act in a sustainable way", said Wolfgang M. Neumann, president and chief executive officer of Rezidor.
Key Appointments in the Industry
Congratulations to these new appointments…
Longtime Northwest hospitality executive and consultant Ken Daugherty was hired as the new general manager of Skamania Lodge, an all-season resort and conference center nestled in the Columbia River Gorge. Daugherty is returning to Skamania Lodge after serving as its general manager from 1999 to 2005, and helping it achieve financial and legislative backing to get built in 1993 with developer John Gray.
Benchmark Hospitality International®, a leading US-based hospitality management company, has named Jerry Jensen director of sales and marketing for Scottsdale Resort & Conference Center. Brenda Weskamp, general manager for the property, a Benchmark Resort® located in Scottsdale, Arizona, made the announcement.
The Latest in Hotel Openings
Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced the debut of Le Méridien Columbus, The Joseph, adding this cosmopolitan Midwest city to Le Méridien brand’s rapidly expanding global portfolio. Owned by The Pizzuti Companies and operated by Wischermann Partners, the new build 10-story hotel will offer 135 modern rooms with all of the Paris-born brand’s signature amenities and services. Located in the Short North Arts District, the city’s cultural center, Le Méridien Columbus is slated to open in early 2015, and the ground-breaking ceremony, attended by representatives from Pizzuti, Starwood, and Wischermann Partners, marked the start of construction for not only Le Méridien Columbus but also the office and retail building and parking garage that make up Pizzuti’s The Joseph mixed-use development project.
Atlantica Hotels International t announced the signing of the Radisson Hotel Rio de Janeiro, scheduled to open January, 2014. The converted landmark beachfront hotel will offer 292 guestrooms and suites, and will be the eighth Radisson hotel in Brazil. Over the next five years, an investment of $5.5 in enhancements will be made to the hotel.
Waldorf Astoria Hotels & Resorts, Hilton Worldwide's luxury brand of landmark hotels, has announced the opening of Waldorf Astoria Ras Al Khaimah, the brand's first hotel in the UAE and the 25th addition to the global Waldorf Astoria portfolio of 25 hotels and resorts, globally. Offering sweeping views of the Arabian Gulf, the highly anticipated 346-room Waldorf Astoria Ras Al Khaimah will delight connoisseurs of luxury with many distinctive features and amenities designed to bring the luxury and sophistication of Waldorf Astoria to the award-winning Emirate of Ras Al Khaimah for the first time.
Centara Hotels & Resorts has announced that it will further expand its presence in Phuket by the addition of a second Centra, a value brand hotel on the island, signing a management contract for a new property that is being built in Bangtao. Centara, Thailand’s largest operator of hotels, has four of its brands in Phuket, extending its reach across a range of tourism market segments. The management contract was signed at the Centara head office in Bangkok on 24 July with owning company Adler Group Co. Ltd., with the opening expected during August 2016.
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