News & Stories
Paris. According to its ongoing asset-right strategy, Accor announced a major real estate transaction in the budget segment in France, with the sale of 158 hotelF1 properties representing a total of 12,300 rooms for 272 million Euro.
Adelboden. On the area of the former hotel Nevada in Adelboden in the Berner Oberland, Switzerland well-known investors from Kuwait are planning a pool and spa complex including a 5-star hotel with more than 90 rooms and an underground parking lot with 140 parking spaces.
Zurich. Orascom Development will develop an integrated 'Eco-town' covering a total area of 6.82 million square meters in Cornwall, United Kingdom, marking its second integrated development project in Europe.
Zurich. Mario Botta, Swiss star architect and known to the hotel industry since the construction of the "Mountain Oasis" in the Tschuggen Grand Hotel Arosa, is once again making a stir. His name once again drives forward large projects in Baden near Zurich and finally on the Rigi. Both are wellness projects. With respect to the expensive and extravagant spa in the Tschuggen Grand Hotel, views still differ to this day.
Ascona. The majority shareholders of the Hotel Giardino in Ascona, Ticino/Switzerland, have sold their luxury hotel to a doctor. The reasoning is weak: "generation change". Nobody wants to say more.
Wiesbaden. The retreat of the American luxury retirement home operator Sunrise marks a turning point in the German residential home market. Integrative concepts, suitable retirement apartments and care homes still have growth potential. Now, hotel developers are also jumping on the bandwagon. Residence concepts developed by hotel chains are increasingly becoming competition for luxury retirement home operators.
Frankfurt/M. Even during economically difficult times, communities set great store by the establishment of new hotels. Particularly in tertiary locations, new hotel projects of renowned international operating companies still rank at the top of the wish list - despite the current economic development. Economic supporters and urban leaders often hope for an upgrade of the location's image and a boost for tourism through the establishment of a 4 or 5-star hotel.
Tel Aviv. The Israeli hotel chain Fattal Hotels - as already reported at the end of June - is now definitely taking over twelve hotels with more than 3,100 beds in Israel. In doing so, David Fattal, the founder of Fattal, was able to accomplish a clever move to further extend the brand Leonardo Hotels and become the leading chain.
Frankfurt. Even if only 15% of the transaction volume of the previous year was realised in the first half of 2009, the hotel asset class is still on the investors' purchase list. The focus is clearly on the budget hotels, followed by 3-star hotels and by the 4-star segment.
Frankfurt. The German hotel investment market reported volume of around 90 million EUR in the first half of 2009. Only four individual transactions were reported by the end of June. In portfolios, no transactions were registered. The slump in hotel investment volume stands at 83% and is drastic, Jones Lang LaSalle confirms.