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    Accor fund for Africa 

    AccorHotels has announced a USD1bn fund alongside Katara Hospitality to drive growth in sub-Saharan Africa. The fund will target around 9,000 rooms across Accor’s portfolio of brands, as the company looks to return to its position of strength in the continent. The fund will amount to up to USD500m in equity, of which Katara Hospitality [...]

    Hard Rock, EasyHotel for busy Dublin 

    Hard Rock and EasyHotel have both announced hotels in London as they bolster their positions in Europe. The announcements came as performance and investor appetite remained strong in the city, increasing competition for sites. Tifco signed a franchise agreement with Hard Rock to open a 120-room hotel in early 2020, operating the site itself. Todd [...]

    EU migration into UK falls 

    The number of EU citizens coming to the UK last year fell by 12%, according to the ONS, with the EU Referendum named as a key driver for the drop. The industry responded with alarm, as the hospitality sector continued to face a shortfall in employees, notwithstanding Brexit. ONS figures from earlier this year showed [...]

    Emaar to sell assets 

    Emaar Hospitality Group has confirmed that it will sell hotel assets to focus on growth through management contracts. It is thought that the company could sell around USD1.4bn in assets, including USD700m in hotels, with an IPO also being mooted. In an interview with CNBC, Mohamed Alabbar, chairman of Emaar Properties, said: “It is the start [...]

    Beaumont marketed as investors look to luxury

    Grosvenor property group has put the Beaumont hotel on the market, reportedly looking for up to GBP120m. The move is hoping to tap into residual optimism in the London hotel market, despite faltering performance. The site is managed by Corbin & King, which relinquished the leasehold of the hotel in 2016, two years after it [...]

    Huazhu builds on upgrades

    Hauzhu, which last month changed its name from China Lodging, reported ongoing growth in its domestic market, where it has continued to move away from its budget roots. The results came as the company’s stock was identified as the strongest performing across the hotel sector in the past year. Stronger room rates lifted average revpar [...]

    Serviced apartments continue to rise

    The serviced apartment sector continues to move from alternative to mainstream, growing stronger market presence, stronger brands and attracting more funding. Positive numbers have led to what consultants HVS call a “boom”, with supply across Europe adding up to 20,000 units being delivered over the next five years. Operators are buoyed by a strong 2017 [...]

    Amaris returns to growth 

    The Amaris hotel platform is in growth mode once more, after new owner LRC acquired seven Doubletree branded properties from seller Oaktree. The move takes Amaris to 30 properties, while LRC has publicly stated its desire to grow the group to 50 hotels around the UK. Privately backed LRC has, to date, preferred other commercial [...]

    Minor lays out NH plans

    Thai investor Minor International (MINT) has made clear its plans to act as a supportive, majority stakeholder in Spanish hotel group NH. An exhaustive presentation document lays out MINT’s hopes to retain NH as a listed company, albeit with the Thai group in a majority shareholder position, as this would ensure transparency for all future [...]

    CEIBA looks to brighter Cuban future

    Cuba specialist CEIBA Investments is planning a London stock market listing, looking to raise up to GBP100m to plough into further hotel developments. The company already owns four hotels in Cuba, along with office properties. The fundraising is expected to pay for upgrades to existing properties, and support a new build, 400 room hotel in [...]

    Pandox unfurls the Union Jack

    Swedish hotel group Pandox is readying itself for further acquisition activity, having successfully integrated the purchase of the Jurys portfolio in the UK and Ireland. Pandox CEO Anders Nissen said that his new properties had already performed strongly since acquisition, and the UK remains a highly attractive market where Pandox will be looking for further [...]

    UK outlook remains sunny

    Inverness, Brighton and Edinburgh are the most attractive UK hotel markets for developers, according to a report from Knight Frank. And, with a tranche of institutional funds still waiting to be invested, developers are finding it easier to pre-sell new build hotels. But one cloud on the horizon is the impact of disruptors such as [...]