Hotels & leisure news – Page 6
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NewsAlternative Income REIT acquires Virgin Active leisure club in London
Alternative Income REIT, which owns a diversified portfolio of UK commercial property assets predominantly let on long leases with index-linked rent reviews, has acquired a Virgin Active leisure club for £5.1m.
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OnlineBNP Paribas REIM acquires 25 Victoria Street offices for £42.5m
BNP Paribas Real Estate Investment Management (REIM) has acquired 25 Victoria Street, a grade-A building in central London, for £42.5m, marking the first UK acquisition of its European Impact Property Fund (EIPF).
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NewsDalata to exceed €600m in hotel revenue for 2023
Dalata Hotel Group, the Irish hotel operator with a growing presence in the UK and continental Europe, said it expects hotel revenue for 2023 to exceed €600m (£517m) compared with €516m (£444m) in 2022.
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NewsHenry Wilson joins Distrkt from Shelley Sandzer
Specialist hospitality and leisure agency Distrkt has appointed former Shelley Sandzer leasing agent Henry Wilson as a director.
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NewsKnight Frank reports UK hotel profits exceed pre-pandemic levels in most markets
UK hotel profits have exceeded pre-pandemic levels in most UK markets this year despite the challenging macro-economic environment, according to Knight Frank.
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News
C&W predicts valuations will bottom out in Q3 2024
Cushman & Wakefield (C&W) has predicted “a bottoming out for valuations” around Q3 next year, when it says rate hikes will end and cuts will commence, according to its EMEA Outlook 2024 report.
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NewsEG Group agrees to sell over 200 KFC restaurants to Yum!
Forecourt and food service operator EG Group has agreed an undisclosed deal to sell all of its 218 KFC restaurants – half of which are drive-throughs – to Yum! brands’ KFC division.
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NewsDivergence in performance across property types ‘likely to persist in 2024’, CBRE says
Divergence in performance across property types is likely to persist in 2024 and obsolescence, particularly of older office and retail assets, will be a key challenge for the UK real estate market next year, according to CBRE’s UK Real Estate Market Outlook 2024.
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NewsCriterion splashes £135m on Haymarket House for hotel redevelopment project
Criterion Capital has acquired Haymarket House in London’s Piccadilly Circus for a reported £135m.
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NewsIrish cinema group to enter mainland UK with Empire theatres acquisition
Omniplex Cinema Group, Ireland’s largest cinema company, has swooped to acquire five cinemas from Empire Cinemas Group, which collapsed earlier this year.
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OnlineGove calls in proposals for Stratford’s MSG Sphere, but developer says the scheme is dead
Housing secretary Michael Gove has officially called in proposals for the Las Vegas-style Madison Square Garden (MSG) Sphere in Stratford, east London, after mayor of London Sadiq Khan rejected controversial plans for the entertainment venue.
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OnlineSaudi’s PIF buys 49% stake in Rocco Forte Hotels for £590m
Saudi Arabia’s sovereign wealth fund is set to buy a 49% stake in luxury hotel group Rocco Forte Hotels for around £590m, according to a report in the Financial Times.
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NewsMichael Gove intervenes on Sadiq Khan’s rejection of the MSG Sphere in Stratford
Housing secretary Michael Gove has ordered a six week pause to determine whether he should have the final say on proposals for the MSG Sphere in Stratford, east London, after mayor of London Sadiq Khan rejected controversial plans for the Las Vegas-style entertainment venue.
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OnlineNTA 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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NewsMilton’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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OnlinePPHE 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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NewsFormer 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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NewsYoutuber 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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NewsChancellor 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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OnlineLXi 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.
