Issue 2570 - 10 November, 2020

    Six Senses adds Brazil

    IHG is to launch its first Six Senses resort in the Americas. It will reflag the Botanique Hotel & Spa in Brazil’s Mantiqueira region, launching it during 2021. The hotel will launch with seven suites and 13 villas, and has extensive wellness facilities. The property will also have 37 residences, while a further phase of [...]

    Axcel wins in Bath

    Operator Axcel Hospitality has bought the former Country Living hotel in Bath, UK. The 61 room property was sold by Savills and Carter Jonas with a GBP8m asking price. Axcel currently lists nine hotels, largely under Marriott, IHG and Accor flags. In Bath, it already operates the Henrietta House hotel, under the Radisson Individuals brand. [...]

    Apartment resilience

    Serviced apartments across Europe have faired better than other accommodation, through the Covid-19 pandemic. Consultants HVS said most have remained profitable, despite a 25-50% fall in topline revenues. Of investors surveyed, HVS found more than 70% want to increase their exposure to serviced apartments. Of 20,000 pipeline units over the next five years, 29% will [...]

    Atlas loan breached

    London & Regional is in talks after loan covenants were breached on its 49-strong Atlas portfolio. The GBP350m loan is securitised, making negotiations complex, reports Bisnow. One ratings agency has written down the portfolio to GBP367m, against a value of GBP546m when the loan was agreed at the end of 2019. The hotels operate under [...]