News & Stories
Hong Kong/Paris. Shangri-La Asia has acquired the historic palais of Prince Roland Bonaparte with plans to convert it to the Shangri-La Hotel, Paris in late 2008, marking the group's European debut. The Bonaparte family mansion in Paris' 16th arrondissement will be converted into the capital's first luxury hotel fully owned and operated by an Asian hotel group.
Paris. 2005 confirms the solidity of the French hotel industry. The economic and 4* categories post the best performances. Revenue per available Room rose by 3,1% over the year, drawn by a progression from the average price of 2,3%. Occupancy rates increased slightly.
San Diego. International hospitality consultants identified ten global issues and challenges in the hospitality industry for 2006, also valid for the European market. Energy costs will drive operating costs, for instance, higher brand standards make construction and renovation costs increase, technology is too old or under-utilized, owners or management companies pushing into niche markets will confuse the consumer more than ever.
London. Buy, build, retain or sell? A study has shown that investors are again becoming more confident. Around 35% of those holding assets in Europe are looking to buy in the short term. In Germany the Football World Cup has provided a special boost. German cities surprise with an increase in their internal rate of return.
Berlin. In Berlin hotel building and tourism are booming. The current situation is paradoxical, however: overnight stays are rising continuously while prices are slumping. On a national basis, in terms of room yields, Berlin comes third behind Frankfurt and Munich while European-wide the city has slipped from 13th to 18th . In the luxury sector the squeeze has begun but in the budget sector there would still be room for new hotels, says one of the city’s representatives.
Wiesbaden. Its name may be a little obscure, but for many hotels the hotel whisperer has been the secret of their success: The Wiesbaden based marketing expert and communication coach Tia Vassiliou develops tailor made solutions for private hotels.
Moscow. Marriott's middleclass-hotel brand Courtyard by Marriott, has opened for the first time in Russia, with a 218-room property in Moscow called the Courtyard by Marriott Moscow City Centre.
Madrid. Hard Rock International and Sol Melia Hotels and Resorts will manage Europe's first Hard Rock Hotel in Madrid in a joint venture. The 202 room Reina Victoria Hotel, which is held by Sol Melia under a long-term lease, is in the heart of Madrid's old city in the western end of the pedestrianized Plaza de Santa Ana.
Frankfurt/M. With the start of 2006, Martina Fidlschuster has taken over the management of Hotour GmbH, the consultancy for hospitality and tourism located in Frankfurt.