Hotels & leisure news – Page 7
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NTA falls at LXi REIT as group continues with disposal strategy to reduce debt
The value of net tangible assets (NTA) at LXi REIT fell 5.8% during the group’s half-year to the end of September.
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Milton’s administrators to put 25 North East and Yorkshire pubs up for sale
Administrators to property firm Milton Portfolio Op Co 3 plan to put a portfolio of 25 pubs across North East and Yorkshire up for sale early next year.
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PPHE secures consent for new concept Park Plaza Victoria London hotel
PPHE Hotel Group has secured planning permission from Westminster City Council to develop a second hotel within its Park Plaza Victoria London property.
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Former C&W head of hotel transactions rejoins CBRE
Global real estate adviser CBRE has appointed Rob Seabrook from Cushman & Wakefield as an executive director in its hotels capital markets team.
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Youtuber fast-food offering Sides to set up shop in Manchester Arndale
Sides, the fast-food offering created by YouTube group The Sidemen, is to open its first Manchester outlet after taking a 1,222 sq ft unit at the Arndale Centre on a 10-year lease.
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Chancellor announces £4.3bn small business rates support package
The chancellor’s Autumn Statement has unveiled a business rates support package worth £4.3bn over the next five years to help high streets and small businesses.
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LXi closes in on £210m deal to sell 66 Travelodge hotels
LXi REIT is close to selling more than half of its portfolio of Travelodge hotels for £210m.
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‘Remarkable’ growth of competitive socialising set to last, Savills reports
Competitive socialising in the UK is growing at a “remarkable” rate, according to research from Savills, which has labelled the sector as “the biggest development the leisure sector has seen in decades”.
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Sadiq Khan rejects plans for Vegas-style MSG Sphere in Stratford
Plans for the MSG Sphere, a Las Vegas-style mega venue in Stratford, have been blocked by London mayor Sadiq Khan.
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Brookfield shelves plans to sell Center Parcs
Brookfield is reported to be rethinking its plan to sell holiday resort group Center Parcs after failing to find a buyer willing to meet its £5bn price tag.
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Young & Co Brewery to purchase City Pubs in £162m deal
Young & Co Brewery, a managed operator of pubs and rooms to rent across London and the south of England, has reached an agreement to acquire City Pubs for around £162m.
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BrewDog boss slams council and developer over ‘delayed’ Durham bar opening
The boss of brewery and pub chain BrewDog has taken aim at Durham County Council and joint venture developer The Arlington Real Estate and Richardson over delays in opening a bar, which he claims have now stretched beyond 12 months.
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Paramount sues London Resort over £2.5bn theme park plans
London Resort Company Holdings’ (LRCH), which had planned to bring a multi-billion-pound theme park to Kent, is reportedly being sued by entertainment giant and former partner Paramount over allegations that LRCH’s restructuring earlier this year, after it called in administrators, was unfair.
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Landsec looks to prime retail for new opportunities as it reports £193m loss
Landsec is “looking for opportunities to deploy further capital” with a particular focus on prime retail, chief executive Mark Allan said today after the firm posted a £193m loss for the half year ended 30 September.
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KE Hotels lands Holiday Inn London-Luton
A private consortium of investors has sold the 124-room Holiday Inn London-Luton Airport Hotel for an undisclosed sum to KE Hotels, which was funded by Metro Bank.
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Aroundtown sells Hyde Park Hilton for possible resi conversion
German real estate investor Aroundtown has sold the Hilton London Hyde Park hotel in London to an unnamed Dubai-based family office advised by MGI Holdings, for a price believed to be close to £50m.
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Dar Global expands into Saudi Arabia
London-listed luxury international real estate developer Dar Global has announced plans to expand into Saudi Arabia, where it said the tourism sector created “compelling opportunities” to develop hospitality assets.
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London mayor Sadiq Khan set to decide on Vegas-style MSG Sphere in Stratford
Plans for the MSG Sphere, Madison Square Garden’s controversial, proposed 21,500-capacity entertainment venue in Stratford, east London, have arrived at the mayor of London’s office, with Sadiq Khan set to decide in the next two weeks whether to approve the scheme.
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Gym operator to make UK debut in West Midlands shopping centre
Fitness operator XTRAFIT is set to make its UK debut with a 40,000 sq ft gym in a former Debenhams in the Merry Hill shopping centre in Brierly Hill, West Midlands.
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Generator Group completes €750m global refinancing
Upmarket hostel operator Generator Group, owned by Queensgate Investments, has completed a circa €750m (£650m) global refinancing with Ares Management, Värde Partners and Waterfall Asset Management.