News & Stories

Frankfurt. What will happen to Steigenberger Hotels & Resorts? As reported last week, the hotel chain was sold relatively surprisingly to Travco Group from Egypt. There is hardly any news from Steigenberger's headquarter in Frankfurt. General Managers of Steigenberger also appear totally intimidated. In the meantime, there is some more information about Hamed El Chiaty, Steigenberger's new shareholder.

Berlin. The German Advertising Council, the self-regulatory organisation of the German advertising industry, has reminded companies to have more respect for the feelings of consumers. As a speaker for the Council recently reported in Berlin, the number advertising campaigns subject to complaints from the general population has increased by one quarter to 147 in the first six months of the year. A German hostel chain whose campaign was claimed to be humiliating was also subject to the Council's criticism.

Madrid. Spain has been the scene of rapid hotel development over the past two decades, led by major domestic chains, such as Sol Melia, NH Hoteles and Barceló - just to mention three. Yet the budget segment has been left virtually untouched, in spite of the rapid expansion of the service economy in recent years. It is indeed a mystery as to why one of the big local market players has not come forth with a budget lodging product, as has been the case in most other major European hotel markets - the only exception being Italy where the budget hotel sector remains even less developed than in Spain, due to restrictions on room size. Finally, a Spanish budget chain is in sight: Sidorme.

Frankfurt. Dr Ralf Corsten, member of Steigenberger’s supervisory board, evidently fixed up what many have ruled out: Steigenberger Hotels AG has been sold. Today at noon, the agreement was signed in Frankfurt, and the employees were informed in the afternoon. Travco Group International Holding S.A.E. headquartered in Cairo, Egypt’s leading tourist conglomerate, owner of a fleet of Nile ships and three hotel brands with 43 hotels, will act as buyer. It took over the entire 99.6 percent share of the Steigenberger family. The agreement is valid from today. In terms of scope, the deal is comparable to the sale of 54 Astron Hotels to NH from Spain in 2002.

Paris/Duesseldorf. The takeover of Golden Tulip by Starwood Capital is home and dry. Top International Hotels & Corporate Partner, Golden Tulip's former joint venture partner, are devising new strategies for the future.

 

Rostock. As of last week, German Arkona Hotels have a new name and a new definition: From now on they are "arcona" and will be marketed under the slogan "arcona. Good hotels". The company continues to place its expansion focus on city hotels and no longer always under the name of its franchise partner, Steigenberger. Managing Director Alexander Winter also sees a future for boarding houses. The details of a brand relaunch.

Berlin. In Germany, the Spanish hotel group NH Hoteles not only sells hotel beds, but as of late, advertising space too. The hotel group views its own business travellers as the ideal target group. NH moves into advertising.

Zurich. In June, Manz Privacy Hotels, one of the most traditional family concerns in Switzerland, officially celebrated its 120th anniversary. "We are celebrating because we'd like to send a positive message through such difficult times and to thank all our guests, staff and partners," Alexander Manz states, member of the management board of Manz Privacy Hotels Switzerland. Together with his twin, Michael, he is now the fourth generation of his family to manage the hotel. The foundation stone of the Manz dynasty was laid in 1889 by Casper Manz with the acquisition of the Hotel St. Gotthard. "Swiss Hospitality since 1889" is the motto of the Group, which outside Switzerland also holds participations in hotels in South America.

Paris/Lausanne. Last Friday, Starwood Capital Group Global L.P. announced the signature of a binding agreement for an affiliate to purchase Golden Tulip Hospitality BV's Franchise business, its Development & Representation businesses, Joint Venture interests, and the brands, trademarks and intellectual property of Golden Tulip, Tulip Inn and its related brands.

Paris/Lausanne. Negotiations between the Starwood Capital Group and Golden Tulip Hospitality BV and its liquidator were originally scheduled to end already last week, but the parties are still negotiating.