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.
Topland sells Hallmark Hotels in the UK
Confirming the sale, Topland said that it was “looking to expand the current portfolio of Hilton and Thistle Hotels” and that it was “actively looking for new opportunities on individual or portfolio hotel acquisitions, hotel development, hotel financing and hotel [joint ventures]”.
Topland launched the Hallmark brand in 2015, announcing plans to invest “millions” in the portfolio, including a refurbishment of bedrooms as it continued to pursue growth in the UK ahead of a possible floatation, with a target of GBP1bn.
THPT Comment – Not sure the deal was great for Topland considering what the hotels cost, reinvestment and the final sale price….but if it’s part of a greater strategy…
Hilton Portfolio of 9 UK Hotels Sold
The family of Israeli property tycoon Amir Dayan is among buyers of a portfolio of U.K. hotels leased to Hilton Worldwide Holdings Inc.,
The group of nine hotels, which entered a form of bankruptcy protection under U.K. insolvency laws starting in early 2018, was acquired by companies controlled by Vivion Investments Sarl for £246 million (US$315 million), according to a filing by the administrators appointed to oversee the properties.
THPT Comment – Good to see a new entrant to the UK hotel scene.
Northcote Acquired by Owner of The Stafford London
Northcote is part of the Northcote Leisure Group, with 75% of the business owned by Nigel Hall, according to Companies House, chairman of the Jersey-based FCM Trust.
The Stafford is owned by the Egyptian El Sharkawy family, and it is looking to expand its presence in the UK. The Stafford is managed by MD Stuart Proctor, who started his hospitality career as part-time waiter at Northcote.
Britannia said: “We look forward to working with the team at Northcote to continue to drive the performance of the hotel and deliver the exceptional experiences for which the hotel is known.”
THPT Comment – Delighted that this iconic, gourmet hotel and restaurant is going to a “safe pair of hands”. The end of an era…and the start of a new one we hope!
Best Western Hotels & Resorts Acquires WorldHotels
Best Western Hotels & Resorts announced today it has acquired renowned global hotel brand WorldHotel representing a collection of hotels and resorts in premier destinations around the world.
“There is tremendous synergy between Best Western and WorldHotels. By joining forces in this new partnership, we will create competitive advantages for both companies,” said David Kong, President and CEO of Best Western Hotels & Resorts. “I have the utmost respect for WorldHotels and believe in its vast potential.”
The acquisition of WorldHotels was completed last week. The WorldHotels brand will play a critical role in enhancing Best Western’s portfolio of offerings to include the upper upscale and luxury segments.
THPT Comment – OK we have seen Marriott buy Starwood, Accor buy a lot, IHG buy Six Senses, Hyatt buy Two Roads…but this is the first Mega hotel marketing representation company buy a rival of this size. Great move for Best Western.
Iberostar to Open new Historic Hotel in the Centre of Rome in 2019
2019 will see the opening of Iberostar Hotels & Resorts’ first hotel in the centre of Rome, the Iberostar Fontana di Trevi. The company has set its sights on Italy to boost its city hotels segment with this five-star boutique hotel.
Standing just off Via del Corso, the hotel boasts a prime location in one of the city’s most popular shopping areas, offering easy access to all the Italian capital’s major tourist attractions.
THPT Comment – At 67 rooms, this is truly boutique for Iberostar, compared to it’s resort hotels.
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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