All Hotels articles – Page 3
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News
Dalata 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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Knight 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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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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Divergence 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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Saudi’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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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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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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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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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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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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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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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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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.
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Premier Inn owner Whitbread strengthens property team
Premier Inn owner Whitbread has strengthened its construction and property acquisition teams with four new appointments.
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PPHE Hotel Group close to completing £300m pipeline
PPHE Hotel Group, which develops, owns and operates hotels and resorts, is nearing completion of its £300m pipeline, according to its Q3 update.
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Z Hotels secures lending for new London property
Z Hotels has secured a £23m loan from OakNorth and ASK Partners for the acquisition and refurbishment of a mixed-use building on Charing Cross Road in central London.
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Belfast’s ETAP Hotel on market for offers in excess of £7.2m
Belfast city centre’s budget ETAP Hotel has hit the market with agent CBRE Northern Ireland inviting offers of over £7.17m on behalf of the unnamed vendor.
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Town Centre Securities to ramp up development pipeline
Town Centre Securities is looking to step up investment in its development pipeline, which has an estimated gross development value of over £400m, according to its results for the year to the end of June.