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Hotel News in BriefFeb 06, 09 | 1:46 am
Malta-based CHI Hotels & Resorts (CHI) has announced that within months of entering Abu Dhabi with the scheduled operation of its first Ramada Hotel in the Mafraq region, it has now concluded negotiations for the operation of a second Ramada Hotel in the centre of the Emirates' capital. The 15-year technical services and operations agreement for the new 313-room Ramada Abu Dhabi Beach hotel was signed by CHI's vice-president for business development Paul Pisani and Major General Khalil Dawood Badran on behalf of the Social Security Fund of the Ministry of the Interior of the United Arab Emirates, owners of the upscale project. The new hotel, targeted for a 2011 opening, is being developed on a 31,000 square-metre site with a 300 metre beach front, and is within a short drive from Maqta Bridge, at the entrance to Abu Dhabi city centre. The Ramada Abu Dhabi Beach will feature 313 guest rooms and suites on seven floors, several meeting rooms, a two-storey ballroom, three restaurants, indoor and outdoor pools and a Health Club with gymnasium, squash courts, massage rooms, a sauna and solarium. Sofitel remodels the Buenos Aires hotel. The Sofitel chain announced an investment of US $ 1.2 million in order to remodel its Sofitel Hotel located in Buenos Aires. The funds were used for the renewal of the gym's area, which includes the purchase of new machines and Italian equipments. The Hotel also announced that it will return to its membership program for clients in general during this year. Source: TRAVEL@LatinAmerica Taj Safaris' (the joint venture between andBEYOND and Taj Hotel Resorts & Palaces) third jungle safari lodge in India welcomed its first guests in December 2008. Pashan Garh Panna Wilderness Lodge features just 12 luxurious stone cottages and is situated a mere 50km from the renowned temples of Khajuraho - a World Heritage Site featuring erotic sculptures dating back 1000 years. Pashan Garh, meaning ‘stone house', draws inspiration from the dry-packed stone houses of north-central India. It is located a mere 12km from Panna National Park's entrance and is surrounded by 190 acres of private jungle wilderness. The stone cottages are set atop a small hill, with magnificent views over the forest and a large nearby waterhole, which has been host to numerous tiger and resident antelope sightings. The Expert: U.S. Transaction Volume Fell 82 Percent in 2008. The U.S. experienced an 82 percent drop in hotel transaction volume during 2008, from $45 billion in 2007 to $8.2 billion, based on transactions of at least $10 million. As a near-term market recovery is unlikely, volume is forecast to soften to $7 billion this year. The first half of 2009 will be as idle as late 2008, but more divestment activity is forecast for the second half, as some owners make strategic decisions, sometimes on an unwilling basis, to dispose of assets even while pricing remains relatively weak.Though equity is available in the marketplace, it is not yet ready to jump into hotel ownership, and many equity investors are seeking to acquire loan positions or highly distressed situations instead. These factors, combined with the lack of debt liquidity and continued decline in hotel fundamentals, will continue to be the greatest challenges facing hotel-sale transactions during 2009. Source: CPN Almost half of holidaymakers will not change their plans despite the recession, according to a survey by Continental Research. The research shows 48% will not change their holiday plans, while 34% of those who said they would change because of financial worries will reduce their holiday budget and/or look for last-minute bargains. Over a quarter (27%) said they would be holidaying in the UK rather than going abroad for their main holiday. The majority of respondents aged 20-54 chose the UK as their top destination for their main holiday this year, but 55-74-year-olds buck the trend, with a quarter choosing Spain as their top holiday destination. The research also reveals how the internet has influenced the holiday plans of Britons, with 44% saying it had made them more adventurous in their choice of holiday. Colin Shaddick, director at Continental Research and author of the report, said: ‘Travellers of every age are using the web to research and book travel and to look for bargains and say they have become more adventurous as a result of the choices offered to them online. Source: e-tid.com Hotels Cut Capital Spending. The U.S. hotel industry is scaling back capital expenditures to their lowest levels in years, although industry analysts said travelers are unlikely to see any drastic amenity cuts as a result. Bjorn Hanson, an associate professor at New York University's Tisch Center, this month released a report forecasting a nearly 30 percent drop in capital improvements on U.S. hotels, down to $4 billion from a record $5.5 billion in 2008. This is the first year since 2003 that the industry will spend less on capital expenditures than in the prior year, he said. Hotels could see profits drop as much as 25 percent to 30 percent, and Hanson said they will look to trim expenses in terms of amenities. Hanson in a subsequent report said that the amount of fees and surcharges that U.S. hotels collect in 2009 would drop to $1.65 billion, from $1.75 billion collected in 2008. He attributed the drop to decreased demand, particularly in higher tiers with the most fees and surcharges, and reticence by hotels to introduce or increase those fees. Source: BTNonline 
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