Every week we will be delving into the world of Hotel Property thanks to our friends The Hotel Property Team (THPT). We will be covering 5 recent deals that has taken place over the last 7 days with insights from THPT Managing Partner, Dev Anand.
Magnuson Opens First Branded Hotel in the UK
“This is a truly exciting time for Magnuson Worldwide,” said Melissa Magnuson, chairman of Magnuson Worldwide. “We have established a firm revenue management and marketing base here in the U.K. and we are delighted that properties like the Magnuson Hotel Fines Bayliwick are seeing the promise that our offering can provide.”
Last year, Thomas Magnuson described the need for independent hotels to compete not only with the corporate brands but the sharing economy as the country’s market undergoes fundamental changes.
THPT Comment – As the old joke goes, why would you build such a fine 17th century house so close to a Motorway! Seriously when we first met Thomas in his early days, we were sceptical…I would say that Magnuson has come of age.
Bougary Holding sign 1,200-room Crowne Plaza, to open in Makkah, Saudi Arabia
InterContinental Hotel Group and Bougary Holding have signed for a 1,200-room Crowne Plaza, scheduled to open in Makkah, Saudi Arabia in 2019.
Jeddah-based Bougary Holding Co develops, manages, and maintains properties including residential, commercial, clinical, and marketing complexes.
Located in close proximity to the Holy Mosque, the hotel will join the existing InterContinental and Holiday Inn in the city, totalling three properties there.
THPT Comment – With 15m upwards attending the annual pilgrimage to Mecca, or Makkah as they spell it, you can never have enough hotel rooms!
AXA IM – Real Assets has Bought Four Australian Hotels in an AUD$330.4m Deal
AXA IM – Real Assets said it has bought the Pullman Sydney Olympic Park, Novotel Sydney Olympic Park, Ibis Sydney Olympic Park and the Novotel Canberra.
Kumar Kalyanakumar, the head of Australia, at AXA IM – Real Assets, said: “This transaction presents a rare opportunity to invest in a portfolio of high quality and extremely well-located hotels as well as to build on our team’s strong track record of hotel investments.”
THPT Comment – Good deal for both parties. Have to say I enjoyed a cold beer at the Novotel in Sydney on a certain day in November 2003, prior to when Jonny Wilkinson kicked a classic drop-goal 17 seconds out!
Atlanta Gets New Dual-Brand Marriott Development
This is the first combination of the AC Hotels by Marriott and Moxy Hotels brands under one roof.
These new additions mark the first Moxy Hotel in Georgia and the third AC Hotel in Atlanta (Noble’s second after the AC Hotel Atlanta Buckhead at Phipps Plaza).
Developed on an entire city block, the hotels are a few blocks from Georgia Tech University. The hotel has a pedestrian connector called the Arts Walk, a ground-level path that will connect 13th and 14th Streets. while displaying installations from local artists. The Arts Walk will eventually span from 10th St. to the Woodruff Arts Center.
THPT Comment – Dual and even three-way branding is becoming common now, but good to see these two Marriott brands joining forces. Would love to look at the operating costs of such ventures.
NCB to Build Hilton’s First Hotel in the Cayman Islands
Hilton announces the signing of an agreement for a new-build Curio Collection by Hilton property in the Cayman Islands with NCB Group, one of Cayman’s leading residential and commercial developers. The company is headed up by Naul Bodden, President.
Situated on the edge of George Town, the beachfront hotel boasts 80 suites, with spacious floorplans ranging from one to three bedrooms, which will also be available for purchase. Each suite will feature energy-efficient technologies, in-room yoga mats, fitness equipment and lighting that regulates circadian rhythm. Travellers will also be able to opt for executive and penthouse suites with premier private pools.
THPT Comment – Hilton catching up with IHG’s Kimpton and Holiday Inn, Marriott’s Ritz-Carlton, Marriott Beach and Westin, Wyndham and Margaritaville as the chain-brand hotels in the Cayman Islands.
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between them, they provide a range of skills and experience which is directly relevant to those involved in the hotel property market.
Sign up for their weekly newsletter by clicking here…
All images provided by – www.thpt.co.uk
Main image – richardharriscoaching.com