- Shares in Intercontinental Hotel Group turned positive in late trade on Friday, with traders citing market chatter that the hotel firm could be subject to a bid from a U.S. firm. The hotelier spiked as much as 1.1 percent higher, before closing up 0.2 percent at 2,722p, well off its session low at 2,684.5p. The company traded twice its 90-day average volume. InterContinental Hotel Group declined to comment on the speculation. (Reporting by Alistair Smout; Editing by Lionel Laurent)
12 Mar '15
Hyatt Hotels eyeing up purchase of luxury Grosvenor House Hotel: Hyatt Hotels is considering purchasing the Grosvenor House Hotel in London, after the landmark building was put up for sale earlier this month.
8 Mar '15
Hotel Market conference in Berlin
Bumper year in prospect but search for yield gets trickier * Focus on budget sector and buzzy lifestyle hotels * Report predicts $68 bln in hotel real estate deals in 2015 By Victoria Bryan BERLIN, March 8 (Reuters) - Investors are expected to pump more money into buying, converting or building hotels in 2015 than in any year since the start of the global financial crisis, with a focus on budget and 'buzz'. In a sector enjoying the benefits of economic recovery and growing traveller numbers, yields are attractive compared to alternative real estate like office, industrial or retail. "It's not about people loving hotels, it's about investors searching for a return on their money which they can't get these days on government bonds," said Nick Skea-Strachan of law firm BLP at this month's IHIF hotels conference in Berlin. But investors say there are signs of overheating in some areas, making it more challenging to hit target returns that are typically around 6.5 to 7.5 percent. That is forcing them to seek out niches and jump on new trends like lifestyle hotels, serving a generation of travellers looking for a hip place to hang out, not just somewhere to sleep. Typically featuring smaller rooms, local-themed design and buzzy lounges, lifestyle covers both luxury and budget classes and includes hotels such as Starwood's W, IHG's Indigo , Citizen M, and Moxy. Hilton, Best Western and Germany's Steigenberger are among those recently announcing new brands in this space. Examples of the genre include the privately owned 25 Hours Hotel in Berlin, where visitors flock to a 10th floor bar and restaurant that overlook the neighbouring zoo. Liran Wizman, a developer and owner who is opening two W hotels in Amsterdam this year that will be managed by Starwood, told Reuters he had shifted his focus in the past couple of years from mid-scale hotels to lifestyle, which now makes up half his portfolio.
3 Mar '15
Grosvenor House Hotel on the market: London landmark the Grosvenor House Hotel has been put up for sale after its Owner, Sahara Grosvenor House Hospitality, was put into administration.
2 Mar '15
London’s hotels to benefit from 20 year high for occupancy rate: London’s hotels are set for a record 2015 with occupancy rates expected to reach a 20 year high, according a new report published
2 Mar '15
Sports attractions fuel capital’s hotel boom: London is in the midst of a hotel boom as a growing economy and events such as this year’s rugby World Cup push occupancy rates to their highest levels for 20 years.
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