News & Stories

Frankfurt. The times when the initiators of Euro Ejendomme AG celebrated their debut in Germany with champagne are over; the Danish commercial real estate investor located in Frankfurt is now facing its end. The Frankfurt local court ordered preliminary insolvency proceedings on September 22, 2010.

Bangkok. Dusit Thani’s shareholders have approved a major property management project to have three of its luxury hotels under the umbrella of a property fund, as well as to invest in up to one-third of the fund’s investment units and manage the three hotels.

London. Invesco Real Estate announced the launch of a second pan-European hotel fund with an exclusivity agreement to purchase a 168 million Euro seed portfolio.

Munich. Even two years after the dramatic start of the financial crisis, the financial resources are only coming in a slow trickle. And this will not change in the next few years, said experts at the hotel conference "Hospitality Industry Dialogue" during the Expo Real 2010 last Monday. The funds and finance representatives gave the high spirits at the trade fair stands a hard dampener – and pointed out the contradictions between the capital overflow in the market and the slow cash flow.

Paris. On Tuesday, the French listed real estate investment trust Foncière des Murs has signed a purchase agreement with the B&B group for a portfolio of hotels, representing 1,980 rooms, for a price of approximately 85 million Euro including fees.

Hamburg. Union Investment is not adverse towards concluding franchise agreements. This type of operation is another opportunity for the open investment fund of investing in hotels. However, strong brands are in high demand as partners. But Union Investment is also interested in professional franchisees in the form of individual hotels at highly attractive locations. Dr. Frank Billand, Managing Director of Union Investment, on funds and franchising – an issue he and his team would like to discuss at this year’s Expo Real.

Frankfurt/M. According to Hotour consultancy, a second wave of the structural change lies ahead of the German hotel industry. After the number of chain hotels has nearly tripled in the last ten years, lease agreements are now expiring for many hotels.

Augsburg. Every conversation about the situation of ArabellaStarwood hotels over the past few days has shown complete disbelief. The speed of the decision from the Schoerghuber Company Group leaves everybody baffled. Given that the hotel group still has neither a time nor action plan for the coming months, speculation has already begun. hospitalityInside.com has asked bankers and hotel groups how they view the main argument put forward for the decision – the imminent increase in risk resulting from the proposed new IFRS 17 accounting rules. In contrast to the Schoerghuber Group, most approach the subject objectively and look for solutions where they fear disadvantages in the wake of any changes.

Klagenfurt. After all negotiations around the sale of the Capella Schlosshotel Velden including apartments have failed up to now, Hypo Group Alpe Adria isoffering the property for a price as cheap as chips by launching an advertisement campaign. In the meantime, Star Chef Silvio Nickol is leaving the hotel.

Cologne. In spite of many difficulties, Anno August Jagdfeld is still holding the Fundus empire together. Nevertheless, annoyance at his business practices is growing among investors. Now, a recent decision from the Regional Court in Aachen could cause problems.