W’s First Act In Paris | If you are planning at trip to Paris, France, in 2011, head for the Opéra area and you might be lucky enough to catch the opening night of Starwood Hotels & Resorts’ W brand as it makes its grand debut in France with an aria dedicated to the W Paris-Opéra and its 90 guest rooms. Starwood has signed a management agreement with the hotel's owner Barcelona-based private equity firm Meridia Capital. When it opens, this hotel will be W number eight for Europe.

The Importance Of Being Rezidor | What is the importance of the numbers three and 58 to Rezidor Hotel Group? Not sure? Well, I shall tell you. After announcing this week that it is to open three new hotels in three capital cities, adding three new countries to its portfolio, Rezidor will soon have properties in 58 countries across the EMEA region. The 142-room Radisson Blu Hotel Lusaka is to open in the latter part of this year in Lusaka, Zambia; the 257-room Radisson Blu Hotel Luanda is to open at the beginning of 2012, on Africa’s southwest Atlantic coast, in Luanda, Angola; and the 210-room Radisson Blu Hotel Skopje is to open at the beginning of 2011 in Skopje, Macedonia.

Rezidor’s Missoni Mission In Oman | Rezidor Hotel Group has also announced another new entrance this week: the Hotel Missoni Jebel Sifah is to take a bow as it debuts as the first Missoni hotel in the Sultanate of Oman, in the Middle East. The curtain will rise at the beginning of 2012 on the mixed-use Jebel Sifah resort, near the capital Muscat, to reveal the hotel's 250 rooms and 50 apartments and villas. This hotel will bring the number of Missoni properties, Rezidor’s newest brand, up to three; the 130-room Hotel Missoni Edinburgh is to open in May this year, followed closely by the 200-room Hotel Missoni Kuwait in summer.

A New Hotel For Maputo | After a US$30 million investment, Portuguese company the Visbeira Group has opened its second hotel in Mozambique’s capital Maputo, in the south of the country. The 190-room Girassol Indy Village opened during the past week to join its sister property in the city the 27-room Girassol Bahia Hotel. The other two hotels in the Girassol portfolio are also in Mozambique: the 72-room Girassol Lichinga Hotel in the city of Lichinga, in the northwest, and the 28-room Girassol Nampula in the northern city of Nampula.

A Hotel For The Trafford Centre | Shopping is a serious business and sometimes one day just isn’t enough! But soon those spenders travelling to the Trafford Centre shopping complex in Manchester, northwest England, will be able to stay right next to that shoppers’ paradise and shop from dawn ‘till dusk for as many days as they like as Peel Holdings has been granted planning permission by Trafford Metropolitan Borough Council for the development of a four-star, 210-room hotel adjacent to the centre. The 15-storey hotel is expected to cost £30 million to develop.

The Berlin Dozen | A dozen what? I hear you ask…conferences of course! For 2009 is the year of the 12th International Hotel Investment Forum in Berlin, and those of you who have been lucky enough to attend from the beginning will be able to boast to first-time attendees "I’ve been here a dozen times now, you know". Last year, the forum was so successful that its organisers have decided to add another day to this year’s event. The conference will be held over three days from 9 to 11 March in the InterContinental Berlin. HVS London’s Russell Kett ("Hotel Companies Going Global! Where...Why…How?", 9.20am, Wednesday 11) and Tim Smith ("The IHIF Game Show Challenge", 10.20am, Wednesday 11) and HVS Hodges Ward Elliott’s Charles Human ("Where Are The Deals And What is The State Of The Transactional Market In Europe?", 11.30am, Wednesday 11) are taking part in this year's event, and also attending is Philip Bacon, HVS Madrid. With less than a month to go, time is ticking so click here for more information or to book your ticket.

InterContinental Hotels Group Reports Its Preliminary Full-Year Results For 2008 | InterContinental Hotels Group (IHG) reported continuing revenue of US$1.8 billion for 2008. RevPAR for its properties in the EMEA region increased by 3.6% for the full-year 2008, and operating profit from continuing operations increased by 28% for the region, from US$134 million to US$171 million. However, IHG still didn’t manage to escape the gnashing teeth of the credit crunch which caught up with it during the fourth quarter of 2008, when RevPAR decreased by 6.5%. IHG’s chief executive Andrew Cosslett commented on the year ahead for the company "It has been clear for some time that 2009 will be a challenging year and we have taken action to prepare the business."

Kiessling’s Corner | The latest news from Spain by Gabriele Kiessling, Analyst, HVS Madrid. Alexandre Hotels has increased its portfolio with the acquisition of the Prestige Congress Hotel in Barcelona, previously part of hotel chain Prestige. Alexandre Hotels has three other properties: the Hotel FrontAir Congress, also in Barcelona, and the Hotel Gala and the Hotel La Siesta in Tenerife. The city council of Madrid has recently approved the initial phase of the renovation of the Hotel Ritz Madrid, which is be carried out by architect Rafael de la Hoz. The hotel’s room count will be reduced from 172 rooms to 168 in order to create more space in each room. The renovation also includes the restoration of the glass ceiling in the hotel’s lobby and an additional Jacuzzi. However, no date has been set yet for the project.

Absolute Share Price Performance Over the Past Week 12-19 February 2009

  • Rezidor Hotel Group - Shares rose owing to high volatility and an expanding price range.
  • InterContinental Hotels Group - Shares fell as the company reported a drop in full-year profit for 2008.
  • Millennium & Copthorne - Shares dropped in price as the group halved its dividend.

If any colleagues in your organization would also like to receive HVS Hospitality Enews, please send an e-mail with full contact details to: [email protected], noting 'subscribe' in the subject box. Please remember to include the e-mail address where you wish to receive HVS Hospitality Enews. For the latest in the hospitality industry, please visit: www.hvsinternational.com You are also welcome to contact the following personnel at HVS International's London or Madrid (Laurent de Kousemaeker) offices.

Russell Kett, MD at [email protected]
Charles Human, MD Investment Services at [email protected]
Dominique Bourdais, Director at [email protected]
Christopher Mumford, MD Executive Search at [email protected]
Laurent de Kousemaeker, Director at [email protected]

HVS International is a hospitality services firm providing industry skill and knowledge worldwide. The organization and its specialists possess a wide range of expertise and offer market feasibility studies, valuations, strategic analyses, development planning, and litigation support. Additionally, HVS International supplies unique knowledge in the areas of executive search, investment banking, environmental sustainability, timeshare consulting, food and beverage operations, interior design, gaming, technology strategies, organizational assessments, operational management, strategy development, convention facilities consulting, marketing communications, property tax appeals and investment consulting. Since 1980, HVS International has provided hospitality services to more than 10,000 hotels throughout the world. Principals and associates of the firm have authored textbooks and thousands of articles regarding all aspects of the hospitality industry. Click here for more...