News & Stories
Less tension
Frankfurt/M. Between 2000 and 2003, Europe’s hotel markets had to cope with the difficult economic conditions. A new study of 25 European hotel markets reveals a more relaxed situation for 4 and 5-star categories in the course of 2004. There are separate analyses for Munich and Hamburg.
Toronto. Fairmont Hotels & Resorts announced two days ago that it has assumed management of five renowned Kenyan hotels following their purchase by Kingdom Hotels International in a joint venture with IFA Hotels & Resorts and Fairmont.
Dubai. Emirates is embarking on yet another large-scale capital investment, only this time it's not an order for more aircraft.
Mumbai. India's Taj Hotels are planning to introduce "IndiOne", a new budget brand, in their country.
London. In 2004 the Middle East was the second-fastest growing region after China. The latest survey of HVS International looks inside. This year the consultancy has pioneered a profitability assessment of the Middle East hotel industry - an assessment of GOPPAR. The results were published first this week in Dubai.
Chicago. The Hyatt Corporation will operate more casino hotels: In Las Vegas the chain will be involved in a new 2,700 hotel and condo-hotel residences of The Cosmopolitan Resort & Casino on the Las Vegas strip. This Hyatt hotel will be the second Hyatt in town and branded as a Grand Hyatt.
Madrid. Italy's biggest insurance company and an Italian investment company will take a stake in the Spanish hotel group HN Hoteles, as became public at the company's annual general meeting in Madrid last week. The business is developing well in Germany.
Hong Kong. Shangri-La Hotels and Resorts will expand in India and in Inner Mongolia. New contracts are just signed and announced.
Moscow. Four Seasons Hotels Inc. confirmed that it has signed an agreement to manage a new hotel on the site of the former Hotel Moskva in Moscow, Russia.