News & Stories
Augsburg. Banks do not entrust only insolvent hotels to an interim manager. These take over responsibility for a certain time period, but sometimes even longer. However, not every hotel that is back operating in the black is resold. Interim management has its own rules; it is a business in which partners prefer staying in the background.
Munich. Interim management is now institutionalised in the industry. There are even specialised agencies for "temporary managers". More and more unemployed executives are applying for such jobs. The reorganisation of a company is the most common cause for their assignment. But: rogue elements are lurking everywhere.
Andermatt. The Egyptian tourism entrepreneur and immensely rich global player Samih Sawiris is toying with the idea of building a big resort in the Swiss mountain village of Andermatt in the northern Gotthard area. Last weekend, the 48 year-old entrepreneur personally informed the villagers about his ideas. Insiders know Sawiris as a local partner of Moevenpick Hotels in Egypt. It was only in October that the entrepreneur presented his mega resorts at the Expo Real property fair in Munich.
Heiligendamm. The ministers of the G8 countries will arrive in 2007. But contrary to expectations, they probably won't be checking into the historic beach villas of the Grand Hotel Kempinski in Seebad Heiligendamm in North Germany. The Fundus group that owns the luxury complex have now made official that preparations have not been running according to plan.
Augsburg. The first Condo Hotel in London was sold immediately, but Europe's biggest property with 930 units in England's capital is still to be build. For the British, the investment means attractive tax advantages. In France one provider holds many brands. The Condo trend from the USA has finally arrived in Europe.
Augsburg. "Condo Hotels" as further mode of involvement in tourist real estate now seems to be establishing roots in Europe. In the US where this is a long established marketing concept for hotel real estate, the upwards trend remains unfettered. Clear success factor are attractive rent profits for the buyer.
Wiesbaden (November 25, 2005) . Redeveloping a hotel into a retirement home is by no means easy, but certainly possible. Attempts to bring the two concepts together have all failed in the past. The advice remains: either the whole hog or not at all.
New York. The Leading Hotels of the World are building up a new marketing instrument as well as a new source of income: the "Leading Residences of the World". That concept is about buying and/or renting vacant villas and empty suites in hotels according to a timesharing pattern. There are already 13 residence partners, while other chains and renowned hoteliers disapprove of this model. Behind her restraint there is an unspoken fear that their own business will be cannibalized by third parties.
White Plains. Starwood Hotels & Resorts plans to sell 38 of its hotels to Host Marriott for 3.3 billion USD. The proposed stock and cash transaction has a total value of 4.1 billion USD, including 700 million USD of debt assumption, but the deal was immediately attacked by Starwood`s former CEO Barry S. Sternlicht who remains a large shareholder.
