London sees the occupying force; Tristan Fund adds to Amsterdam – HOTELSMag.com

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Highest occupancy rate in London hotels: The hospitality industry in London recorded its highest monthly occupancy rate since February 2020, preliminary data for April 2022 by STR showed.

  • Occupancy: 72%
  • ADR: £151.42 (US$186.67)
  • RevPAR: £108.98 ($134.35)

While occupancy increased month-over-month, it was still 11% below the comparable pre-pandemic rate. The absolute level of ADR was slightly lower than last month but above 6% compared to April 2019. London daily occupancy remained above 60% with the exception of April 18 (50.2% ). The highest occupancy rate was reported on April 26 (83.7%), while an overall improvement in weekday levels indicated a return to business demand.

Ruby Emma in Amsterdam

Tristan Fund acquires in Amsterdam: London-based Tristan Capital Partners‘ EPISO 5 fund has acquired the 288-key QO Hotel in Amsterdam for 92.1 million euros ($97.09 million). The property will be renamed Ruby Emma and operated by Munich-based Ruby Group. As part of the rebranding process, the hotel’s facilities and public areas will be upgraded to include a restaurant/bar. The hotel currently has a rooftop greenhouse, a living facade and 1,600 fully responsive thermal panels. The 4-star hotel was among the first hotels in Europe to achieve LEED Platinum status. The fund was advised by Greenberg Traurig; PwC; Drees & Sommer; HVS; and longevity partners.

JW Marriott’s early days in Tokyo: Marriott International has signed an agreement with East Japan Railway Co. to introduce the JW Marriott brand to Tokyo. The JW Marriott Hotel Tokyo will be part of the Takanawa Gateway urban development project, JR East’s redevelopment of the former JR Shinagawa Depot Railway Yard and is expected to open in Spring 2025. The hotel will consist of 200 rooms and suites and interiors will be designed by Yabu Pushelberg. Comprised of five buildings, the mixed-use development will include residences, commercial facilities, conference and convention centers. The hotel will occupy from 22 to 30and floors of the station complex building (south). Marriott currently operates more than 70 hotels in Japan across 18 brands.

Kempinski Residences in Dubai: Kempinski has announced the launch of Kempinski Residences The Creek, a collection of 285 apartments ranging from one- to four-bedroom duplexes in Al Jaddaf on the shores of Dubai Creek in the UAE Kempinski has signed a management agreement with Swiss Property for the property with possession of the residences are planned for the end of 2024. The property includes landscaped gardens, a swimming pool, paddle tennis, beach volleyball and basketball courts, a gym and fitness centre, a club -house for residents and a private cinema. The announcement of these projects follows the recent signing of Kempinski Floating Place. These two properties will join Kempinski Hotel Mall of the Emirates and Kempinski Hotel & Residences Palm Jumeirah to form a quartet of Kempinski-managed properties in the UAE.

IHCL develops Taj in India: Indian Hotels Co. Ltd. (IHCL), Mumbai, India, has opened the second Taj branded hotel in Kolkata, Eastern India. The 147-room Taj City Center New Town is the city’s second Taj-branded hotel after 33 years. Composed of 137 rooms and 10 suites, the hotel also has three restaurants, a spa and six banquet rooms. The hotel, which operated as a Swissotel branded property from 2010 to 2020, is owned by Ambuja Neotia Group, which is headquartered in Kolkata. Harshvardhan Neotia, Chairman of Ambuja Neotia Group, said it took 15 months and around Rs. 80-90 crore (US$10.39-11.69 million) to convert the former business hotel into a Taj luxury hotel. IHCL has entered into a partnership with Ambuja Neotia for six properties and aims to increase it to 10. The Taj City Center New Town marks IHCL’s fourth hotel under this agreement and the sixth overall hotel in Kolkata across multiple brands, one of which is under development. A Ginger-branded hotel is expected to open in the next six to eight months near the city’s airport, IHCL MD and CEO Puneet Chhatwal told HOTELS.

The record acquisition of Viva Land in Singapore: Viva Land, based in Ho Chi Minh City, Vietnam, has agreed to acquire the 134-key So/Singapore from Singapore-based Royal Group for 240 million Singapore dollars ($173.09 million and 1. $29 million per key). The acquisition should start the process of a new integrated development in the city’s downtown area. The purchase price would have set a new price-per-key record for a hotel in Singapore. The boutique hotel is located next to the Robinson Point office tower which was also acquired by Viva Land for 500 million Singapore dollars (US$360.61 million) in 2020. The two properties combined will give the new owner a total of 3,260 square meters of commercial sites in the city center.

Accor will manage the Queen Elizabeth 2: Accor has announced the addition of the Queen Elizabeth 2 (QE2) cruise ship, Dubai’s first and only floating hotel, to its management portfolio. Accor will resume operations from May and the cruise ship will undergo renovations and upgrades before joining the MGallery Hotel Collection. Once renovations are complete, the new MGallery Queen Elizabeth 2 will feature 447 rooms, nine dining venues, 10 meeting rooms, six retail outlets, a 5,620 square meter area for outdoor events, a swimming pool and a hall sport. Accor collaborates with Ports, Customs and Free Zone Corp. (PCFC) Investments, a private equity firm under the Government of Dubai. Currently, Accor operates 62 properties with a total of 18,562 keys in the UAE with 20 properties in the pipeline.

Hawaii numbers reinforce: Hawaii’s hotel segment strengthened on improving ADRs and occupancy rates, according to CBRE’s Hawaii Hotel Figures Q1 2022 report. RevPAR increased 195.8% YoY from $86.65 in Q1 221 to $256.29 in Q1 2022, with ADR improving 34.5% from $269.3 in Q1 2021 at $362.14 to Q1 2022. Q1 2022. Based on ADR, Maui continues to show the best performance of all the islands with an ADR of $609.73 with its Kaanapali/Lahaina submarket /Kapalua at 535.14 USD. At US$405.48 and US$405.14, the next highest rates were in Kauai and Big Island, respectively. The statewide ADR was $269.30 in the first quarter of 2021. In terms of occupancy, Kauai saw a major increase of +5060 BPS, which was followed by the Waiki submarket on Oahu at +4080 BPS and Big Osand at +4000 BPS. All islands were above the national occupancy rate of 59.9%, with Kauai at 74.6% and the Big Island at 76.5%.

Grand Prix drives up Melbourne fares: Melbourne’s hospitality industry recorded its highest ever monthly rates, pushed by the Australian Grand Prix, according to preliminary April data from STR.

  • Occupancy: 65.1%
  • ADR: AU$238.3 (US$168,511)
  • RevPAR: AU$155.14 (US$109.7)

Market occupancy was at its highest since February 2020, while RevPAR was at its highest since November 2019. On a daily basis, the night before race day (April 9) saw the strongest performance highest for the month: occupancy rate (89.2%), ADR (387.51 AUD/274.02 USD) and RevPAR (345.68 AUD/244.44 USD). The Grand Prix weekend (April 8-10) was the only time of the month when the daily ADR exceeded A$300 (US$212.14).

Swiss-Belhotel EMEA expansion strategy: Swiss-Belhotel International, Hong Kong, has announced its intention to double its portfolio in the EMEA region by 2025, as part of its expansion plans in the region. The company said Africa has significant potential for its brands. Swiss-Belhotel is also expanding into the European market with offerings for owners and investors and said it is attracting strong interest. The group opened three new properties during the pandemic.

Practice Hospitality adds in California: The 24-room Mojave Resort in the Coachella Valley enclave of Palm Desert, Calif., has appointed Dallas, Texas-based Practice Hospitality to oversee hotel operations and lead the property’s upcoming renovations . The renovations will improve the rooms, private courtyard, pool, spa and lounge areas. Food and beverage offerings and amenities are also expected to be added as part of the resort’s reimagining.

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