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.
Pan Pacific Hotels to Debut Its First Pan Pacific Hotel in London in 2020
With this flagship opening in London, Pan Pacific Hotels Group will join a select handful of Asia-based hotel companies to enter the Europe luxury hotel space, and introduce its brand of sincere hospitality for the first time to a mature and sophisticated market.
Pan Pacific Hotels Group is dedicated to operating with sincerity and integrity as its core values. Beyond the adoption of earth-friendly practices, it is designing and building green hotels right in the heart of cities – and stamping its mark as a leader in sustainable hospitality in Singapore and across Asia.
Pan Pacific London will provide unmatched scale and quality in the area. The Signature Suite of the hotel on the 18th floor is an epitome of luxury complete with spectacular views of city landmark, The Gherkin. Housed within the luxurious Pan Pacific London will be the Square Mile’s first smart ballroom, capable of accommodating up to 370 guests in a banquet seating along with six meeting venues. An indoor lap pool with views of the street, calming spa treatment rooms and a modern fitness centre make up this sanctuary, while a dedicated Studio Lounge provides a comfortable space for early arrivals and late departures.
THPT Comment – Love the environmental stance Pan Pacific with both these new hotels and across the group as a whole.
MEININGER Signs Contract for Hotel in Marseille, France
MEININGER Hotels is executing its expansion strategy to grow further in France, with the signing of the contract for a new hotel in Marseille, France’s second largest city.
MEININGER’s number of prospective beds in France grows to over 2,600.
The deal is between the hotel group and the French real estate developer COFFIM. The new hotel will be located in the middle of the “new Marseille”, the totally renewed urban area around the Marseille harbour.
THPT Comment – Serious growth track record for this major play in the hostel/hotel hybrid sector.
Indian Hotels Company (Taj) Partners Singapore’s GIC to Acquire Hotel Assets
Singapore’s sovereign wealth fund GIC has partnered The Indian Hotels Company (IHCL), South Asia’s largest hospitality company, to create an investment platform to the tune of Rs4,000 crores (US$600 million) over a period of three years.
The investment platform will be used to acquire fully operational hotels in the luxury, upper upscale and upscale segments in India, looking at potential assets primarily in key lodging markets. These will also include distressed or under-performing hotels that can be turned around.
THPT Comment – Fab deal, Taj gets an injection of capital to fund further growth
Gurney’s Resorts Opens Third Property
Gurney’s Star Island Resort & Marina opened in the Hamptons. The 107-room luxury property, owned by George Filopoulos of Metrovest and Lloyd Goldman of BLDG Management Company, marks Gurney’s Resorts third location and second in Montauk, N.Y., the others being Gurney’s Newport Resort and Marina (257 keys) and Gurney’s Montauk Resort & Seawater Spa (146 keys)
“Montauk is a market that is important to us personally and professionally, and we are thrilled to unveil a second location that extends the Gurney’s experience out to Star Island while introducing a new type of stay in the marina setting,” Filopoulos said in a statement.
THPT Comment – Some really great looking properties, including office and other properties on USA’s east coast.
Westmont Acquires the Park Inn Amsterdam City West and B-Aparthotel Westgate
Westmont Hospitality has acquired the VEN Amsterdam, a business and entertainment complex located in Amsterdam’s Sloterdijk area, from real estate firm Omnam Group. The transaction includes the new 476-room Park Inn Amsterdam City West, the 50-room B-Aparthotel Westgate, 4,000 sqm of conference space, a Holland Casino with a total area of 5,000 sqm as well as 6,000 sqm of retail space.
Westmont, a Canadian company and a serious player in the hotel space, with over 500 hotels worldwide with some great properties under all the major brands, including Marriott, Hilton, Accor, Hyatt and others! Founded by the Mangalji family and run today by CEO, Kenny Gibson.
THPT Comment – Omnam, not a company that we are familiar with, have some interesting hotels and The VEN complex…Westmont, a company we know well continue their upward growth path in hotels – we are guessing that B-Aparthotels will continue to run the property at The VEN.
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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