• Issue 1029

Currency moves hit M&C

 

The strength of sterling hit reported results at Millennium & Copthorne. Revpar was down 2.4% in the first half, but was up 3.6% in constant currency terms.

 

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Dublin opportunity

 

A buyer is being sought for a 330 room hotel project alongside Dublin’s convention centre. The site with development permission is among assets being sold by liquidators to owner Spencer Dock Development. 

 

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Sofitel for Mexico

 

Accor is to launch its Sofitel brand in Mexico. A 290 room hotel will open in Reforma in the first half of 2017. 

 

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Rio’s Olympic boom

 

A pre-Olympic building boom will give Rio de Janeiro 75 new hotels, adding 19,500 rooms to the city’s stock by 2016. The USD1.8bn investment will add 60% capacity to the hotel market in just six years, reports the Wall Street Journal. 

 

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Kenya market hit

 

Tumbling tourism numbers have hit profits at Kenyan hotelier TPS Eastern Africa. The company reported first half profits down by almost three quarters, reports Reuters.

 

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