News & Stories

Madrid. Everything is just one big misunderstanding. This is at least the view being taken in the headquarters of Santana Cazorla on Gran Canaria. There, everyone is convinced that the corruption accusations made against their boss are "completely unfounded". All of the group's activities are, it was stated, "completely above board and legal". Yet Club-Aldiana owner and property developer Santiago Santana Cazorla now enjoys his freedom on borrowed time, after he was arrested and interrogated on corruption charges on 5 February of this year. In the Spain of today, this is no single occurrence.

Rosenheim. The real estate industry can be more than satisfied with 11.6 billion Euro investment capital after the omission of tax benefits. Not even the optimists expected this result. Real estate funds even achieved an increase of about one billion Euro reaching 4.96 billion Euro. This positive trend was also apparent with regard to hotel investments, but on a lower level. Only about 5.1 percent of the investment total was attributed to hotels. A few days ago, the renowned fund specialist Stefan Loipfinger from Rosenheim presented his fund analysis.

Berlin. The Grand Hotel Heiligendamm operated by Kempinski remains in troubled waters producing negative headlines. On February 1, 2007, in the midst of the prepartion for the G8 summit in June, General Manger Torsten Dressler resigned from his position. To crown it all, HypoVereinsbank prematurely called in a loan. hospitalityInside explains the background.

Vienna. Warimpex Finanz- und Beteiligungs AG, Vienna, a real estate development and investment company with a special focus on hotel properties in Central and Eastern Europe, is to be floated on the Vienna and Warsaw Stock Exchanges. I a joint venture with a leading European hotel chain the group is said to invest up to 500 million Euro in economy hotels.

Munich. The new Accor CEO Gilles Pélisson set the pace for September. Within the framework of risk minimisation, Accor is now looking for investors for a package of around 90 contracts.

Malta. International Hotel Investments plc of Malta, an investment subsidiary of the Maltese Corinthia Group, is increasing its issued capital to over Euro 500,000,000, welcoming Istithmar Hotels of Dubai as a new strategic investor and partner.

Stockholm. The IPO of the Rezidor Hotel Group was successful: Shareholder SAS said the offer was approximately 9 times oversubscribed, and it will book a capital gain of around 4.7 bln skr from the sale.

Brussels. As of next Tuesday, November 28, 2006, the first shares of Rezidor Hotel Group will be traded on the Stockholm Stock Exchange. The subscription period ends today, Friday.

Zurich. After Raffles and Four Seasons, Moevenpick Holding is now to be withdrawn from the stock exchange: Moevenpick's major shareholder, Carlton Holding AG located in Allschwil, made a corresponding bid to Moevenpick Holding in Adliswil near Zurich on Thursday.