European cities looking good
Dublin, London and Paris will see the best revpar growth in 2014, with Madrid the only European hotel market continuing to see negative performance. Occupancy and rates are set to improve through 2014 and 2015, report consultants PwC.
Hilton grabs Munich airport hotel
Hilton has won the bidding to rebrand the Kempinski hotel at Munich airport. The 389 room hotel, the only one at the airport with a direct link to the main terminal, will relaunch as a Hilton in January 2015.
German InterCitys bought
Invesco Real Estate has bought four InterCityHotels in Germany, on behalf of a UK investor client. The EUR80m deal covers hotels in Darmstadt, Mainz, Frankfurt airport and Rostock.
NH turns a corner
NH Hoteles saw momentum pick up in 2013, with revpar up 2.7% in the final quarter after turning positive from the second quarter. While room rates weakened, occupancy rose 3.4% for the year.
Call for new deal for owners
Hotel owners need to demand a new type of management agreement, focusing on shared interests. Current management agreements are detrimental to value growth, argues investor Anders Nissen of Pandox.