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.
IHG Opens Second UK Kimpton Property
InterContinental Hotels Group (IHG) has opened its second Kimpton property in the UK and its first in Scotland with the launch of the Kimpton Charlotte Square.
Kimpton Charlotte Square is located in Edinburgh’s Georgian New Town, a UNESCO World Heritage site. It offers views of Edinburgh Castle, along with the BABA Bar, a recently refurbished gym and a spa.
IHG plans to open additional Kimpton hotels in Glasgow and Manchester, along with an InterContinental Hotels & Resorts opening in Edinburgh this year. The group currently operates 345 hotels under eight brands in the UK.
THPT Comment – Kimpton coming along a pace into the UK and we believe will be a major benefit for IHG
Read More – https://thpt.co.uk/ihg-opens-second-uk-kimpton-property/
Lothbury Investment Management Buys 202 room Travelodge, Southwark, London
Lothbury Investment Management has bought the hotel in London on behalf of a UK pension fund. The property has an index-linked lease with 30 years to run.
The newly refurbished 128-bedroom property also has a bar café and separate ground-floor office accommodation which is let to the Secretary of State for Housing, Communities and Local Government.
THPT Comment – Travelodge still proves to be value for money for investment purposes. This post is somewhat old! The deal actually happened in 2017!
Read More – https://thpt.co.uk/lothbury-investment-management-buys-202-room-travelodge-southwark-london/
Germany’s Freo Group form Alliance with UK’s Michels & Taylor
Established in 1996, FREO Group is an independent international investor, developer and manager of high quality real estate. From 13 offices in Germany, the United Kingdom, France, Spain, Switzerland, Luxembourg and the USA, FREO has worked on more than 50 projects totalling in excess of 2 million square metres.
M&T has been able to help numerous hotels across their management and operations; the asset management team uses analysis to support operators, and the hotel management division helps hotels with operational expectations and day-to-day activity.
The deal allows M&T to utilise the investment resources of Freo. At the same time, Freo, which has acquired 25 percent of M&T’s shares as part of the agreement, will have access to M&T’s hotel platform.
THPT Comment – Great move for both parties.
Read More – https://thpt.co.uk/freo-group-form-alliance-with-uks-michels-taylor/
Oakwood Partners Boutique Corporation for Two New Thailand Hotels
Singapore-based serviced apartment operator, Oakwood Asia Pacific Limited, wholly owned by Singapore-based Mapletree Investments, has entered into a strategic partnership agreement with Thailand-based real estate developer, Boutique Corporation, to develop and build new Oakwood-branded properties in key destinations in Thailand.
Oakwood and Boutique Corporation have had a well-established collaborative relationship since the opening of 112-key Oakwood Residence Sukhumvit 24 in Bangkok more than 10 years ago.
Oakwood Asia Pacific Limited currently operates a portfolio of 39 properties in 21 cities across 10 countries. Boutique Corporate currently operates a total of 800 keys, with another 1,250 keys in the pipeline.
THPT Comment – Oakwood expanding nicely and good deal by partnering up with Boutique.
Read More – https://thpt.co.uk/oakwood-partners-boutique-corporation-for-two-new-thailand-hotels/
Hyatt Plans Dual Regency Debut for Spain
The properties are currently known as the Hesperia Madrid Hotel and Hesperia Barcelona Tower
This will bring the total number of Hyatt branded hotels in Spain to five, joining Park Hyatt Mallorca, Hyatt Centric Gran Via Madrid and the recently announced Hotel Sofia Barcelona. Both hotels will undergo significant renovations and will be available on Hyatt’s booking system as Hyatt-affiliated hotels beginning June.
THPT Comment – Interesting to see Hesperia take two of their hotels in another global brand – and if one does this Hyatt Regency would be the right brand to do it with.
Read More – https://thpt.co.uk/hyatt-plans-dual-regency-debut-for-spain/
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.
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Main image – richardharriscoaching.com
