Beaver Hotel in Earl’s Court sold to Malaysian investors

The Beaver Hotel, situated in Earl’s Court, has been sold to a Malaysian-based investor with experience in the hospitality sector.

The hotel had been owned and operated by the Lis family for two generations, spanning over 60 years. The sale will enable Mr & Mrs Lis to embark on retirement and ensure the hotel’s legacy is preserved through the future interests of the new owners.

The purchasers, who already have existing hotel assets within the UK, now intend to invest additional capital into the hotel, including a full refurbishment, with the aim to “substantially enhance” its quality and guest experience.

Andrew Evangelou, director and justin Davies, senior broker at Christie and Co, who oversaw the transaction, said: “During the disposal process of the Beaver Hotel, we undertook in excess of 15 individual viewings and received bids from five interested parties. Bids were submitted on a cash and debt funded basis from both domestic and overseas hotel operators.

“The successful sale of the Beaver Hotel reinforces how London remains to be an attractive market for both domestic and foreign investment. Furthermore, the sale demonstrates that when an opportunity to acquire a sizable London freehold hotel presents itself, we receive substantial interest from a range of prospective purchasers.”

Mr Lis added: “As a family, we are thrilled with the result and now look forward to the next chapter of our lives. Both Andrew and Justin at Christie and Co provided our family with the upmost professionalism throughout this process, which we are immensely thankful for.”

Property advisers, Dron and Wright acted on behalf of the purchasers.

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Merseyside hotel completes ‘major’ refurb

Holiday Inn Express Liverpool/Knowsley, in Merseyside, has reopened following a £700k refurbishment.

The refurbishment has seen each of the 86 bedrooms revamped, allowing guests to have a more “modern and comfortable stay”. Signature lighting has also been installed along with bespoke bedding and new air conditioning units, whilst extra space has been created for families.

The hotel has been part of the Crest Hotels portfolio for 16 years and Jason Hiley, group operations director, said: “We’re delighted with the outcome of what is a huge investment made by Crest Hotels.

“All of the bedrooms have been updated as have other aspects of the hotel, in order to give a seamless customer journey of the utmost comfort. In an extremely competitive market, we felt it was vital to make this sort of investment and we are delighted with the result.”

GM Lindsay Jones added: “The renovation has come at an ideal time, myself and the team are extremely proud to be a part of it.

“The property is now at the top of the tree in an extremely competitive market. We’re extremely happy with how the new bedrooms look and more so how the hotel is suitable for not only businessmen and women but also families as we have so many wonderful amenities and attractions on our doorstep.”

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Cross Hotels Limited acquires Cringletie House

Cross Hotels Limited has acquired the Cringletie House hotel near Peebles, Scotland.

A former Baronial castle, the property features 12 bedrooms, a luxury suite and a self-catering property in the grounds.

Cross Hotels was established in September 2006 and was founded by Bill and Ann Cross.

Bill has “extensive experience” in the hotel industry, having commenced his career in hotel operations in his native New Zealand, before moving to Australia in 1975.

Ann also has a background in the hotel business and is a graduate of a leading hotel management school in Australia.

Since forming Cross Hotels, Bill has undertaken hotel property consulting assignments in the UK, New Zealand and The Netherlands, and the company had owned and operated The Castle Inn at Castle Combe in Wiltshire until January 2017.

Bill Cross said: “We are very excited about operating in Scotland. The setting in the Scottish Borders is incredible and its proximity to Edinburgh makes it an ideal location for a country house hotel.

“During their ownership, the van Houdt’s have invested heavily in the property and the result is a warm, welcoming hotel which we will be working to enhance and in due course, extend. We wish Jacob and Johanna van Houdt much happiness in their well-deserved retirement and look forward to working with the team at Cringletie.”

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Landmark London named in Times’ 100 Best Companies 2019

The Landmark London hotel, located outside of Marylebone Station, has been named in The Sunday Times 100 Best Companies to Work For 2019 for the second consecutive year.

The property is one of only two hotels to receive the “prestigious accolade”, and the hotel took the highest placement, listed as 6th. The hotel said this “exceptional positioning” builds on a successful 2018 which saw The Landmark London listed as 27th.

The list ranks Britain’s best companies to work for based on a number of criteria. It is mainly centered on surveys of employee satisfaction and is a “reflection of the people whose hard work builds the success of the organisation and determines the position and inclusion in the list”.

The hotel has undergone an extensive overall renovation with completion date set for later this year, coinciding with the hotel’s 120th anniversary on 1 July.

Brian Hladnik, managing director of Lancaster Landmark Hotel Company, said: “We are exceptionally proud to have The Landmark London achieve such a high-profile accolade again in 2019. There is no doubt that the hard work of our team has made this achievement possible along with our continual investment into their development.

“The whole team is extremely committed to achieving excellence in all they do, and work hard every day to deliver memorable moments to each other and to the hotel guests.”

Andrew Batchelor, GM of The Landmark London, added: “We are delighted and incredibly proud to have made it on this prestigious list for a second time, and it is truly down to the hard work of all our employees that this achievement has been made possible.”

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Samlesbury Hotel saved from administration

KRO Hospitality has bought Samlesbury Hotel out of administration in a multi-million pound deal that has saved 50 local jobs.

The Preston hotel will now undergo a £1.5m revamp and will be rebranded and relaunched in April 2019 as Mercure Preston Samlesbury Hotel. KRO has chosen Mercure, part of the Accor brand family, as a franchise partner, and will also operate the hotel.

The 80-room hotel, which was voted the best in Lancashire last year, is complete with restaurant, bar and eight meetings and events spaces including the Canberra Suite, which can hold up to 160 guests and is fully licenced for weddings and other events.

KRO said “great effort” has gone into researching the aircraft manufacturing heritage of Samlesbury and part of the refurbishment plan will be to “tell this story through art”.

Owner of KRO Hospitality, Kim Eivind Krohn, said: “We are delighted to welcome the Mercure Preston Samlesbury Hotel to our portfolio. It is a fantastic hotel with enormous potential and is situated in an ideal location to attract business travellers and leisure guests alike.

“The hotel is of huge importance to the region. It was recently shortlisted in the Hotel of the Year category for the 2018 Lancashire Business Awards, a title it won in 2017 and we are very pleased that we can help ensure the hotel remains an important part of the community. We can also confirm there will be no disruption to day to day operation.”

Cristina de Oliveira-Frewen SVP franchise operations at Accor northern Europe added: “The Mercure brand combines the strength of an international network with the flexibility to ensure each hotel is individually tailored to its local community, so it is a perfect fit for this award winning hotel.

“We are thrilled to be partnering with KRO Hospitality to ensure the hotel achieves its full potential as a high quality, authentic destination for leisure and business travellers and the local community.”

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Hotel Football partners with Marriott’s Tribute Portfolio brand

Tribute Portfolio, Marriott’s newest independent hotel brand, today announced its arrival in Manchester as Hotel Football joined its portfolio of extraordinary independent hotels.

Manchester’s Hotel Football has joined Marriot’s independent hotel brand Tribute, under a franchise agreement.

Hotel Football remains majority owned by Singaporean businessman Peter Lim and former Manchester United players Gary Neville, Ryan Giggs, Nicky Butt, Paul Scholes and Philip Neville. GG Hospitality, the management company owned by the same group, will continue to manage and operate the property.

Situated just a few metres away from Old Trafford, Manchester United’s home ground, the experiential 133-room hotel marks Tribute Portfolio’s second opening in the UK as it continues to open more characterful hotels for travellers in high-demand destinations across Europe.

John Licence, VP Premium and Select Brands Europe, Marriott International, said: “We are delighted to welcome Hotel Football as the first Tribute Portfolio property in Manchester. With its playful character and bold identity, the hotel is a true reflection of Tribute Portfolio’s stay with character ethos.”

Inspired by its location next to Old Trafford, all 133 guest rooms feature nods to the owners’ joint passion for football, including bespoke Class of ’92 amenities. Room categories include King, Stadium View, Squad  and The Class of ’92 rooms.

Winston Zahra, CEO of GG Hospitality said: “We have established Hotel Football as a very strong concept in Manchester over the past four years. This new association with Marriott International helps us reach new travellers looking for remarkable accommodation, characterful design and vibrant social spaces. We are very much looking forward to working closely with Tribute Portfolio to continue to deliver the best in hospitality to our guests.”

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Dalata Hotel Group revenues jump 11.8% in 2018

Dalata Hotel Group, which operates hotels in Ireland and a growing number in the UK, has reported revenue growth of 11.8% to €393.7m (£339m) for the year ending 31 December 2018.

The hotel operator saw revenue per available room (RevPAR) increase by 4.7% to €94.13 (£81), with adjusted EBITDA also up 4% to €119.6m (£103m) during the year.

Additionally, Dalata opened over 1,150 new rooms during 2018, including openings in Clayton Hotel Charlemont in Dublin and four new Maldron hotels in Dublin, Cork, Belfast and Newcastle.

It said trading across its three regions is “in line with expectations” for the first quarter of 2019, and added it is “confident in its outlook” and noted the “positive economic projections for Ireland and the increasingly strong tourist numbers”.

Pat McCann, Dalata Group CEO, said: “I am delighted to report that 2018 was another year of record earnings growth with adjusted EBITDA increasing 14% to €119.6m and adjusted basic EPS increasing 11.7% to 42.8%. As I reflect on 2018, I am very pleased with our performance and achievements which required a tremendous amount of hard work.

“Together, we opened over 1,150 new rooms, executed valuable deals and delivered a strong operating performance. These results embody the innovative and ambitious spirit of our people at Dalata and their dedication to excel at everything they do.”

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Perle Hotels snaps up Lochardil Hotel in Inverness

Perle Hotels has acquired the Lochardil Hotel in Inverness, adding to its Scottish hotel portfolio which currently includes the Perle Oban Hotel as well as the Marmalade and Bosville Hotels on Skye.

The hotel brand said it purchased the property due to a “desire” to add an Inverness hotel to its portfolio given the “increasing popularity of the area”, with visitors to Scotland venturing further north from the Central Belt to enjoy the “dramatic scenery” in the Highlands.

The property features 12 bedrooms within the original hotel building, with a further 16 letting rooms provided in a two storey annex building. Family owned and operated for over 30 years, previous owners, Eileen Fraser and Graeme MacBean, said they decided to sell hotel to “enjoy a well-earned retirement”.

Stuart Drysdale, director at Christie & Co, who handled the sale, said: “We were approached by the owners of The Lochardil Hotel to undertake a discreet marketing process as there was no rush to sell given the strong profit margins consistently recorded.

“The hotel has enjoyed healthy turnover levels and profits over the years and we are confident Perle Hotels will be able to build upon the historic trading levels as Inverness continues to enjoy increased visitor numbers.”

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European hotel rooms see ‘strong growth’ in value, HVS finds

Hotel values across Europe registered another strong year in 2018 showing 3% growth and reaching new highs, according to the annual European Hotel Valuation Index (HVI), compiled by global hotel consultancy HVS.

Although it was a more modest growth than that of 2017 at 3.9%, 2018 saw recovery for many cities as well as a levelling off in values for some markets, which had previously been depressed compared with the European average.

The annual HVI ranks the percentage change in the values of typically four-star and five-star hotels across 33 major European cities, both in Euro and local currency terms, as well as ranking each market in terms of the average price per hotel room.

Hotels in Lisbon, Moscow, Paris, Brussels and Berlin filled the top five slots in terms of highest percentage growth in values in euro terms, with Lisbon (9%), the year’s biggest climber.

On the back of the FIFA World Cup Moscow’s hotels recorded 8% growth in this year’s index with a RevPAR increase in euros of over 180% for June and July. St Petersburg showed a 6% increase, ranking it sixth in the HVI. In local currency value growth in these markets was even more pronounced.

Paris returned to the top five in this year’s index up 7%, while Berlin completed the top five also with 7% growth.

Only six of the 33 markets analysed experienced a value drop, with those at the bottom of the index, in euro terms, including Barcelona, which was badly impacted by the civil unrest caused by the strengthening of the Catalan independence movement; Hamburg, Manchester and Warsaw, which all suffered from an influx of new supply in the market; and Geneva and Stockholm, which were impacted by currency dynamics in 2018.

In terms of the absolute value of hotel rooms, those in Paris, London, Zurich, Geneva and Rome filled the top five slots for the most expensive in Europe, with Birmingham, Sofia, Bratislava, Bucharest and Manchester at the bottom end of the ranking.

Sophie Perret, director at HVS London, said: “Demand for hotel accommodation remains vigorous across most markets in Europe, and while economic growth for this cycle might be beyond its peak hotel demand is unlikely to suddenly fall away.

“For investors the advice is to factor in a slightly longer exit window and be cautious, but there are some good deals to be had by those seeking to acquire hotels in many European cities.”

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Dalmahoy Hotel undergoes ‘major’ £2m refurbishment

The Dalmahoy Hotel and Country Club, on the outskirts of Edinburgh, is undergoing a £1.6m refurbishment of its bedrooms that will be completed in spring 2019.

The three-month modernisation project, led by Scottish design firm 10 Design, is part of a two-year £2m upgrade of the resort, which the hotel said comes with “minimal guest disruption”.

With a history dating back to the 13th century, the former home of the Douglas family, one of Scotland’s most influential families, is now a four-star, independently-run hotel with 215 bedrooms including seven suites.

The latest upgrade, which includes all 208 of the bedrooms in the newer part of the hotel, marks the latest in a series of major investments that have been made since the hotel became an independent property in August 2016. The seven manor house rooms and suites were recently refurbished.

Alistair Kinchin, GM of Dalmahoy said: “This is a very exciting time for Dalmahoy. In the two years since we began operating as an independent resort we have increased our turnover and substantially increased our profits.

“We have also created seven new jobs across reservations, marketing and sales for the wider Edinburgh hospitality market.  By putting a major investment into our resort, this will ensure we continue to grow in Edinburgh’s highly competitive four-star market.”

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A recent survey from hotel solutions provider HRS has found that the demand for innovative technology in hotels is on the rise


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