News & Stories
Paris. As part of its real estate management strategy, Accor signed a memorandum of understanding last Monday to sell 72 hotels in Germany and 19 in the Netherlands to Moor Park Real Estate for 863 million euros, including a 43-million-euro renovation program to be paid for by the owner. The Novotel, Mercure, Ibis and Etap Hotel properties involved in the transaction represent a total of 12,000 rooms.
New York. Top trends that will influence the global hotel industry in the year ahead include the stabilizing of the U.S. lodging market, increasing capital flows into the hospitality sector from a broad range of investors, including offshore funds, and superior performance among luxury hotel brands.
Brussels. Timeshare still has great potential in Europe, even though there are many complaints regarding sales practices, and short-trip packages put a strain on the industry's image. Despite this, Anthony Arke, Chief Officer of the Timeshare Organisation of Europe is quite optimistic. He wants the association to become a serious address for the industry and consumers. To achieve this, the OTE has formed an alliance with other institutions and supports a critical examination of the existing timeshare regulations.
Duesseldorf. In the next three to four years, the NPC group from Duesseldorf will invest at least 300 million euros in German hotel real estate on behalf of a national fund. The respective agreements have already been concluded.
New York. The destination club Quintess and The Leading Hotels of the World partner to create a new joint venture and the new brand "Quintess, The Leading Residences of the World".
Berlin. After the Schlosshotel Vier Jahreszeiten, further Spanish companies buy and operate a new 205 room hotel in Berlin's Mitte.
Munich. The transfer of undertakings was completed on 1 October, but the official announcement had to wait till now: Accor Germany has sold the real estate of nine hotels under various brands and thereby withdraws from direct operations.
