International News

International News

Nearly 200 hotels at design stage in the GCC

Saudi Arabia and the UAE are leading the field in the development of new hotels There are close to 200 hotels at the design stage in the GCC, according to statistics revealed by intelligence platform ProTenders. Data up to 1 July, 2019, shows there are 196 hotels at the design stage across the Gulf, insight from construction intelligence business ProTenders revealed. The total value of the GCC hotel market, which includes projects at the planning, design, tender and construction stage, is $501.8bn (AED1.8tn), sister publication Commercial Interior Design revealed. Saudi Arabia and the UAE are leading the field in the development of new hotels, as both countries continue to prioritise tourism as a means of supporting economic diversification. It was revealed in August that five hotel chains are due to be selected by the Qiddiya Investment Company as part of the hospitality offering of Saudi Arabia’s entertainment gigaproject Qiddiya. The announcement came when the company, a subsidiary of the Public Investment Fund, unveiled details of the Six Flags theme park that will be built in 2023. In the UAE, a significant number of hotels are being developed in the run-up to Expo 2020 Dubai, which opens its doors in approximately 13 months.

Create: Sep 7, 2019 Edit: Sep 14, 2019

IHCL identifies properties for buyout possibility

The hospitality group is attempting to reduce its debt The Indian Hotels Company (IHCL) and its Singapore-based partner GIC have reportedly lined up seven to eight hotel properties for a possible buyout. A few months ago, IHCL created a platform (worth US$600 million) with Singapore-based wealth fund GIC to acquire operational hotels in India’s luxury segment. According to a report by moneycontrol.com, Puneet Chhatwal, IHCL’s MD told analysts that the group is now in the process of identifying a list of seven to eight assets, including “several distressed” ones. Chatwal said that the company was looking forward to be able to announce the buyout of at least one asset within the next three months. The group is currently attempting to reduce its debt that stands at INR1,975 crores (net debt) to less that INR1,000 crore. According to reports, IHCL could even look at its own properties for acquisition but is currently refraining from doing so as the market in India is slow.

Create: Sep 4, 2019 Edit: Sep 5, 2019

Al Bustan Centre & Residence hosts employee training programme to promote sustainability

Initiative educated associates on eco-friendly practices, methods to cut down on energy and water usage in hotels l Bustan Centre & Residence organised training programmes for its employees to create awareness and promote sustainable environmental approaches. During the training, green initiatives and knowledge in supply chain sustainability were discussed to identify critical risks to improve long-term profitability. The programme focussed on educating its associates on eco-friendly practices and methods to save energy and water in hotels. The initiative also encouraged staff participation so that they can educate and encourage guests about these sustainable practices. \Speaking about the programme, Moussa El Hayek, chief operating officer of Al Bustan Centre and Residence said: “Through our sustainability training programmes, we aim to create awareness among our team through continuous engagement. We can achieve our mission by being committed environmental stewards as tourists and travellers these days are eco-conscious with their options in choosing hotels, it’s no longer only about comfort but sustainability as well. “Ultimately our goal is to create a sustainable environment supporting the initiatives of Dubai Sustainable Tourism (DST),” he added.

Create: Sep 2, 2019 Edit: Sep 5, 2019

Address Fountain Views all set to open for business The property comprises 193 rooms

Emaar Hospitality Group’s Address Fountain Views is all set to open for business, officials have announced. Bookings for the seventh Address hotel in Dubai, are open for stays from October 2019 onwards. Located in Downtown Dubai, the hotel has 193 guestrooms. peaking about the hotel, Chris Newman, chief operating officer of Emaar Hospitality Group, said: “Address Hotels + Resorts has raised the benchmark in service excellence. Our new addition – Address Fountain Views – assures the same personally enriching experience while defining its own individuality, which is the hallmark of every Address hotel.” He added that the property will appeal to both leisure and business visitors. Guests staying on the Club Rooms will be able to access the Club Lounge. The restaurant at the property interprets a luxury apartment and guests can choose from the dining room, the closet, a library or the outdoor terrace. The restaurant will serve authentic Mediterranean cuisine combined with Arabian inspired flavours.

Create: Sep 2, 2019 Edit: Sep 5, 2019

Shaza Hotels recently announced the opening of the Al Badayer Oasis– a Sharjah collection lodge by Mysk.

Owned by Sharjah Investment and Development Authority (Shurooq), Al Badayer Oasis is a desert retreat set against the dunes of central Sharjah. Shaza Hotels’ president and CEO, Simon Coombs stated: “We are delighted to expand our presence in the UAE with Al Badayer Oasis and Shurooq. This latest opening, joining two other properties- namely the Kingfisher Lodge and Al Faya Lodge in the Sharjah Collection- creates a three-in-one travel circuit for visitors to discover the culture, traditional Arabian hospitality and natural beauty of Sharjah.” Featuring 21 rooms and 10 tents and showcasing by Arabian decor, Al Badayer Oasis is designed for luxury camping experiences. Included in the facilities are a restaurant offering authentic Emirati cuisine, an all-day-dining eatery, two meeting rooms, an indoor pool and a gym. The property also comprises an amphitheatre in the heart of the Caravanserai to host live events. Al Badayer Oasis will also offer recreational activities such as quad biking, horse riding, desert safaris and camel tours.

Create: Sep 1, 2019 Edit: Sep 1, 2019

Radisson Hotel Group launches multi-brand global platform

The website will comprise all hotels within the group’s portfolio RADISSON Hotel Group has launched its new multi-brand and ‘mobile-first’ global website in several launguages. The new website comprises the group’s portfolio of more than 1,100 hotels across the world. The group will also launch the Radisson Hotels mobile application by the end of July 2019, officials said. Speaking about the platform, Radisson Hotel Group’s executive vice president and global chief commercial officer Eric De Neef said: “The launch of RadissonHotels.com is a key milestone on our journey towards the top. Having one single touchpoint for all our brands will strongly enhance the user experience and drive SEO value. RadissonHotels.com is a core commercial initiative of our five-year operating plan, which is transforming our business.” The platform showcases every property from across Radisson Hotel Group’s seven distinctive brands, including the Radisson Collection, Radisson RED, Park Plaza, Park Inn by Radisson and Country Inn & Suites by Radisson – as well as the art’otel brand managed by the group’s strategic partner, PPHE Hotel Group.

Create: Aug 26, 2019 Edit: Aug 29, 2019

Hilton to open most luxury hotels in company history

Group’s luxury pipeline also includes more than 30 properties, 25 of which will open through 2025 HOSPITALITY group Hilton has announced that it will be launching more luxury properties in 2019 than in “any previous year of its 100- year history”. The group’s president and CEO Chris Nassetta said that seven hotels are expected to open by the end of 2019. This is in addition to four that have already been launched this year. Hilton’s current and projected luxury openings in 2019, which join the existing luxury properties include: Waldorf Astoria Dubai International Financial Centre, Waldorf Astoria Los Cabos Pedregal and Waldorf Astoria Maldives Ithaafushi. The list also includes LXR and Conrad properties across the world. Hilton’s luxury pipeline also includes more than 30 properties, approximately 25 of which are expected to open through 2025, the group announced.

Create: Aug 26, 2019 Edit: Aug 29, 2019

Lightstone Raises $70 Million for Moxy East Village

National real estate investor and developer Lightstone completed its sixth round of EB-5 investment funding, raising $70 million for the development of the company’s 286-key Marriott Moxy hotel in Manhattan’s East Village. Fundraising is already underway for Miami’s 202-key Moxy South Beach and the 744-key Moxy Downtown Los Angeles—Lightstone’s largest EB-5 funding project. Moxy East Village is set to open this fall. Conceived by Rockwell Group as a vertical timeline, each floor of the hotel draws inspiration from a different era in East Village history. The property will have four new F&B concepts by TAO Group.

Create: Aug 11, 2019 Edit: Aug 21, 2019

EOS Investors Acquires Kingston Resorts

EOS Investors LLC, a privately held real estate investment firm, has acquired Kingston Resorts, a multi-property destination located on 2,800 linear feet of Atlantic Ocean beachfront in Myrtle Beach, South Carolina. Hilton Hotels & Resorts will continue to manage the resort on EOS’s behalf. Kingston encompasses two premium-branded, full-service resorts—the 255-room Embassy Suites Myrtle Beach Oceanfront Resort and the 385-room Hilton Myrtle Beach Resort—and more than 1,600 residential condominiums and townhomes. “EOS is excited to become a part of the long history of Kingston Resorts, the premier oceanfront resort destination in Myrtle Beach,” said Jonathan Wang, president of EOS. “The resort is a great example of an irreplaceable resort in a desirable destination market that defines our investment approach. We are looking forward to the opportunity to work with Hilton and to invest in the resort and build upon Kingston’s long history of success and create the next chapter in the resort’s legacy.”

Create: Aug 11, 2019 Edit: Aug 21, 2019

HREC Arranges Sale of Four Points by Sheraton in Newark

HREC Investment Advisors has arranged the sale of the 120-room Four Points by Sheraton Newark Christiana Wilmington located in Newark, Delaware. The firm exclusively represented the seller during the transaction. The marketing, negotiations, and final sale were led by Ketan Patel, managing director in HREC’s Washington D.C. office, and Andre Collins, an affiliate broker in Delaware. Located in Delaware’s most highly populated county, Newcastle County, the hotel is near companies headquartered in Newark, including W.L. Gore and Associates and JPMorgan. Other major demand generators in the immediate area include the University of Delaware, Denver Technology Park, White Clay Creek Park, Christiana Mall, Glasgow Regional Park, and the Newark Reservoir.

Create: Aug 10, 2019 Edit: Aug 21, 2019

Banyan Investment Group has acquired and will operate the 110-room Courtyard by Marriott Houston Pearland in Texas.

Banyan Investment Group, a hotel investment and management company that acquires and manages select-service hotels in the United States, has acquired and will operate the 110-room Courtyard by Marriott Houston Pearland in Texas. Located in the Pearland Town Center, the five-story hotel is 15 minutes from NRG Stadium (home of the NFL’s Houston Texans) and within 20 minutes of the Texas Medical Center, downtown Houston, and William P. Hobby International Airport. “We continue to seek institutional quality assets, such as the Courtyard by Marriott Houston Pearland, in major markets with numerous demand generators,” said Andy Chopra, founding principal and chief investment officer, Banyan Investment Group. “The hotel benefits from its location within Pearland Town Center, a popular mixed-used development with 937,000 square feet of open space location within the South Houston marketplace that includes 140 specialty stores, 234-unit apartment complex building, and more than 50,000 square feet of office space. The hotel requires minimal capital expenditures, and we are confident the property will achieve its economic objectives with immediate cash flow.”

Create: Aug 10, 2019 Edit: Aug 21, 2019

Blue Sky Hospitality Acquires Two Marriott Hotels

U.S. hotel owner/operator Blue Sky Hospitality (BSHS) has acquired the 220-room New Orleans Marriott Metairie at Lakeway, La., and the 615-room Long Island Marriott in Uniondale, N.Y. The New Orleans Marriott Metairie at Lakeway is situated in the hub of Metairie’s central business district and a few miles from Audubon Aquarium of America, New Orleans Botanical Gardens–City Park, and the French Quarter. A complete renovation program is scheduled to take place over the next three years. The Long Island Marriott is a recently renovated Nassau County hotel in Uniondale near the LIRR and within a short distance of Hofstra University, Cradle of Aviation Museum, and Jones Beach State Park. “The hotel cycle is maturing, which creates growth opportunities for experienced operators and investors with a contrarian approach to the industry,” said David Fincannon, COO, BSHS. “We have accumulated a substantial portfolio of managed and owned properties in just six months, and we have a substantial appetite to do more. We currently own and operate all 52 properties in our portfolio and now have the infrastructure, operating systems, and structure to take on third-party management contracts. As we grow, we will pivot to focus predominantly on operations on behalf of other ownership groups.”

Create: Aug 10, 2019 Edit: Aug 21, 2019