Topic Finance

News & Stories

After the insolvency announcement: Golden Tulip to keep stony silence
A lot of room for speculations
10.4.2009

Amersfoort. Ailing Golden Tulip Hospitality Group is still negotiating with potential split up. The background behind the difficulties is slowly getting clearer. In the meantime, Golden Tulip keeps stony silence.

Golden Tulip under receivership
3.4.2009

Lausanne. Golden Tulip Hospitality Group voluntarily applied for receivership on March 31. However, by its own account, the group is negotiating with two potential partners about continued existence.

New Recovery Fund for non-performing assets
26.3.2009

London. A "Global Hospitality Recovery Fund' is raised up to 500 million Euro in order to acquire luxury hotels, and is now actively seeking investment from both institutions and individuals. Sought-after are non-performing assets with negative cash flow, delinquent assets being disposed of by institutional investors, distressed assets in negative equity and assets that are in breach of covenants by borrowers.

12th International Hotel Investment Forum Berlin: Whispers & opinions
In the world of Saints and Sinners
20.3.2009

Berlin. The 12th International Hotel Investment Forum, the hotel investment community's annual jamboree, took place last week at the Berlin Intercontinental Hotel. The talk of the town was how long the current recession will last, coupled with confidential whispers everywhere about how people are 'really' doing. Attendees predictably for a conference costing in excess of over 2,000 Euro per entrance pass were down on previous years, 1,550 compared with 1,850 last year. No doubt, participants benefitted from the slightly less crowded atmosphere in the InterContinental Hotel compared with previous years. A summary of the sessions.

Switzerland: Changes to lump-sum taxation could also affect hotels  
Wealth - open to negotiation
13.3.2009

Zurich. Alongside Switzerland's secretive banking laws which have come under fire from many fronts of late, the right of lump-sum taxation for rich foreigners has now also been questioned. Following a referendum in Zurich, this privilege will be revoked as from 2010 in the Swiss capital. Opponents of lump-sum taxation in other cantons have drawn strength from the move. Should this prevent rich foreigners moving to Switzerland, the Swiss luxury hotel industry is also likely to be affected. Many hotels were and continue to be financed by means of luxury apartments in or in the vicinity of the hotel.

Euro Ejendomme with details on the hotel fund
20.2.2009

Frankfurt. The 40th fund launched by the Danish real estate investor Euro Ejendomme will be administered and controlled in Frankfurt. It is the first institutional fund to be set up by the company in Germany. The plan to offer such a fund for subscription was announced as far back as October last year; now, details have been published.

NewGen AG in transaction
20.2.2009

Moenchengladbach. Since January, NewGen AG, Moenchengladbach, has been under transaction. Now, the company remaining out of the failed takeover of Dorint Hotels by Accor S.A. has started the squeeze out finally.

Feri Symposium: Hotels remain a popular nice product
Funds initiators like it more simple
13.2.2009

Munich. Initiators of closed German real estate funds are returning to simplicity. For a long time, more risky constructs such as opportunity funds and project developments were popular; now, the classical real estate funds with portfolio real estate are entering market again. This development became obvious at the "Feri Symposium der Beteiligungsmodelle 2009" in the Kempinski Airport Hotel Munich last week. Hotels could move into the focus of investors again. In the past, this was not always the case. However, exotic products remained attractive as nice products among real estate investments.

Funds Initiator August Jagdfeld struggles with more and more problems
Visions under the microscope 
13.2.2009

Berlin. The German funds initiator, Anno August Jagdfeld, still likes to paint himself as an optimistic visionary, even in times of economic difficulty. Above all, his glamorous real estate properties are dear to his heart and of these he feels especially close to the Grand Hotel Heiligendamm. Yet after Kempinski surprisingly decided to terminate its contract for the Grand Hotel last week, a whole era for the "Pearl of the Baltic Sea" and its comfortable existence in the middle of nowhere seems to be over. Anno August Jagdfeld now intends to take matters into his own hands and to polish the hotel into a new diamond - just like to old family led luxury hotels. Yet it won't be as simple as he imagines his task to be. Jagdfeld's empire is crumbling considerably in other areas too. Could the break with Kempinski herald the beginning of the end for Jagdfeld?

Design Hotels suspends Xedra trading
23.1.2009

Berlin. Design Hotels AG announced a few days ago it will suspend the continuous trading facility for its shares on Xetra from 1st February 2009 till further notice.

Stock Exchange

Share price performance of the week 20/05/16 - 26/05/16

HI+Share price performance of the week 20/05/16 - 26/05/16

                                                Change %.

Source: Factiva / powered by HVS EMEA Enews

Financial Results

HI+NH: Strong year 2007

Madrid. Net consolidated earnings of the NH Hoteles Group grew in 2007 to 77.4 million Euro, 24 percent up on 2006. This was due to a 38 percent increase in revenues to 1,505 billion Euro. The company's EBITDA improved to 283 million Euro, a 50 percent increase on 2006. Geographically the location of the hotels is mixed well. Only one third of the hotels are located in Spain and Portugal. During the following months the group intends to open more hotels in Central and Eastern Europe.

HI+Design Hotels extend consulting for hotel developments

Berlin. Design Hotels AG based in Berlin increased its revenues for 2007 increased by approximately 19 percent to 7.88m Euro. The consortium counts 174 hotels with 13,256 rooms today, spread over 101 destinations in 43 countries.

HI+Rezidor 2007: Record profit

Brussels. The Rezidor Hotel Group has published its Financial Report 2007 presenting a strong year: "We are able to report a record profit and a record number of new hotels signed", says Kurt Ritter, President & CEO of Rezidor.

HI+Squeeze-out at NewGen plc

Munich. Already at NewGen Hotels' last general meeting in July 2007, the question hovered in the air as to when principal shareholder Accor S.A would finally squeeze out remaining shareholders. And now we know. NewGen has called and extraordinary general meeting for 10th March.

HI+IHG 2007: Strong growth in Asia

London. InterContinental Hotels Group reports a successful year 2007 with strong growth in the Asia-Pacific region. In the Americas RevPar increased with rate generating all of the increase.

{"host":"hospitalityinside.com","user-agent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","accept":"*/*","accept-encoding":"gzip, br, zstd, deflate","x-forwarded-for":"216.73.216.70","x-forwarded-host":"hospitalityinside.com","x-forwarded-port":"443","x-forwarded-proto":"https","x-forwarded-server":"17fef66d9534","x-real-ip":"216.73.216.70"}REACT_APP_OVERWRITE_FRONTEND_HOST:hospitalityinside.com &&& REACT_APP_GRAPHQL_ENDPOINT:http://app/api/v1