HI+Share price performance of the week 15/07/16 - 21/07/16
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Source: Factiva / powered by HVS EMEA Enews
News & Stories
After the insolvency announcement: Golden Tulip to keep stony silence
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.
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.
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
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
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.
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.
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
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
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?
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.