Issue 1963 - May 16, 2018

    Barbados stabilises

    Elegant Hotels saw revpar up 5% in the first half, with revenues up 8% to USD38.8m. Management said forward bookings are strong, with occupancy up 1% to 67%. In December, Elegant opened the 35 room Treasure Beach hotel, while its Hodges Bay resort on Antigua is nearing completion. A centralised warehouse has been created, to [...]

    Dublin opportunity

    Dublin’s Citi Hotel is being sold, backed by a new 25 year lease. Agent Savills is asking EUR10.7m for the 27 room historic property. The building comes with an initial rental income of EUR66ok a year, representing a 5.69% yield. There may also be the potential for vacant possession, say the agents.

    Two for Dalata

    Dalata Hotels has signed to lease new build hotels in Bristol and Birmingham. Artisan Real Estate Investors will back the Bristol scheme, which will open as a Clayton in 2020, reports RTE. McAleer & Rushe will develop the Birmingham Maldron, for an expected 2021 opening. Dalata now has over 1,700 rooms in its UK development pipeline. [...]

    Movenpick signs Ho Chi Minh

    Swiss brand Movenpick has added another hotel to its growing Vietnamese pipeline. It will brand a new development in Ho Chi Minh, with 288 rooms and 527 serviced apartments, to open in 2020. International arrivals were up 29.5% in the first four months of 2018, with Vietnam on schedule to easily beat last year’s record [...]