• Issue 1057

Strong summer for Premier Inn

 

Whitbread grew sale at Premier Inn by 14.7% in the second quarter. Revpar was up 8.6% and occupancy up 3.1% to a record 87%. 

 

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Crowne for Addis

 

IHG has signed to open its first hotel in Ethiopia. A 210 room Crowne Plaza will be developed in Addis Ababa with local partners Tsemex Hotels and Business.  

 

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Prague rebrand

 

Russian private equity investor GledenInvest has bought the Augustine hotel in Prague. The 101 room hotel, which opened in 2009 and was formerly run by Rocco Forte, is to be rebranded under an international hotel flag.

 

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Thai Retreat

 

Starwood has signed to open a W Retreat in Phuket’s Phang Nga Bay. The property will have 79 villas, with private outdoor areas and plunge pools, and will open in 2018.

 

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Nigerian expansion

 

Nigeria’s Transcorp Hotels has filed an IPO to raise almost USD50m, to help fund hotel expansion. The company’s current flagship property is the Hilton in the capital Abuja, reports Reuters. 

 

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