The Blue Swan Daily brings you a round up of the latest key hotel news from across Europe, Middle East and Africa.
- Mayfair to become home to Mandarin Oriental’s second London property
- STR reveals Berlin, Dubai, London and Jeddah November insights
- Rosewood blooms into Bavaria with new Munich property
- Pandox buys Jurys Inn’s UK properties in GBP800 million deal
Mayfair to become home to Mandarin Oriental’s second London property
Mandarin Oriental Hotel Group is to manage a new luxury hotel and branded residences in the heart of London’s Mayfair district. This will be its second London property complementing its existing facility by Hyde Park and which is currently undergoing major refurbishment works. The UK capital will be only the second location to be home to multiple Mandarin Oriental hotels, following Hong Kong. The development, which will be marketed as Hanover Bond, is situated between Bond Street and Regent Street, on Hanover Square, in one of London’s most exclusive residential, retail and fashion districts. The new property will offer 50 hotel rooms and 80 residences, as well as a fine dining restaurant, lobby lounge, bar, spa, indoor swimming pool, fitness centre and private roof terrace with views over Mayfair. It is due to open in 2021 and is being designed by London-based architectural firm Rogers Stirk Harbour and Partners. Above the hotel, The Residences at Mandarin Oriental will be housed on the upper floors of the development and will have access to in-residence dining, housekeeping, valet parking and a dedicated 24-hour residential concierge. The project is owned by Clivedale London, an independent, Mayfair based developer, the UK arm of the Indiabulls Group, a listed $12 billion market cap Group in India with leading Finance and Real Estate businesses.
STR reveals Berlin, Dubai, London and Jeddah November insights
Hotel data benchmarking specialist STR has provided insights into Nov-2017 hotel performance at four cities across the region. In the German capital, Berlin, there were “solid performance levels even with year-over-year declines” with supply up +1.8%, demand down -1.9% and occupancy down -3.6% to 77.9%. Average daily rates (ADR) in Berlin rose +1.3% to EUR94.60, but revenue per available room (RevPAR) slipped -2.3% to EUR73.73. The absolute occupancy level is actually the second-highest for any November on record in Berlin, while ADR was the highest for a November, with the decline in demand said to be attributable to the closure of airberlin in late October. In Dubai the preliminary data shows a significant growth in both supply and demand. Year-over-year comparisons show a +5.6% increase in supply and a +2.7% rise in demand, but deliver a reduction in occupancy of -2.7% to 87.0%, a reduction in ADR of -1.1% to AED754.11 and a fall in RevPAR of -3.8% to AED655.84. The demand (room nights sold) level actually reached an all-time high for a November in Dubai, and occupancy was well above the November average (83.6%). Occupancy also eclipsed 90% four consecutive nights around the Dubai Airshow, according to STR. For Jeddah, it appears Nov-2017 will be the weakest November performance this decade with RevPAR down more than a quarter versus last year, its lowest level since 2007. A significant supply growth of +9.8% and a decline in demand of -9.3% versus the same month last year resulted in occupancy slipping -17.4% to 45.7%, ADR falling -9.7% to SAR702.62 and RevPAR declining -25.4% to SAR321.06. It is a brighter view in London with a 13th consecutive month of ADR growth, boosted by the World Travel Market (WTM) taking place in the city. The preliminary STR data shows supply growth (+3.3%) outpacing demand growth (+0.3%) to deliver a small decline in occupancy of -2.8% to 83.7%. ADR was up +1.0% to GBP153.96, hitting a high of GBP177.25 (and a city wide occupancy of 95.5%) on 07-Nov-2017 during WTM. RevPAR still fell -1.8% to GBP128.87, perhaps due to the shortened length of WTM this year.
Rosewood blooms into Bavaria with new Munich property
Rosewood Hotels & Resorts has been appointed by German real estate company Bayerische Hausbau to manage a new property in Munich, its first in Germany and seventh across Europe. The Rosewood Munich, which will open in early 2023, will be housed in two landmark, historical buildings comprised of the former headquarters of the State Bank of Bavaria (19th century) and the adjacent Palais Neuhaus-Preysing, a former grand aristocratic residence (early 18th century) on Kardinal-Faulhaber-Strasse in the heart of the historic city centre. The hotel will offer 132 guestrooms and suites designed to complement the property’s original façade and iconic stairways, which remain well preserved and contribute to the city of Munich’s ensemble of historical buildings. Rosewood Munich will join Rosewood’s distinctive European properties including Rosewood Castiglion del Bosco in Tuscany, Rosewood London, and the newly reopened Hôtel de Crillon, A Rosewood Hotel in Paris. Additional upcoming properties in Europe include Rosewood Vienna, Rosewood Edinburgh, and Rosewood Hotel, Grosvenor Square in London. It will, according to the company “blend the most exemplary features of traditional German architecture with modern and contemporary elements, creating a warm and convivial atmosphere that captures the spirit of the destination”.
Pandox invests in the UK with GBP680 million Jurys Inn deal after Brexit boosts foreign arrivals
Swedish hotel group Pandox has agreed to purchase the Jurys Inn chain of hotels in the UK in a GBP800 million deal in partnership with Middle East and European hotel owner-operator Fattal Hotel Group. It is paying GBP680 million to private equity investor Lone Star to acquire 20 Jurys Inn hotels from Amaris Hospitality, which will be run on its behalf by Fattal, plus the Hilton Garden Inn London Heathrow, that it will operate itself. Alongside the Pandox purchases, Fattal’s Leonardo brand will manage a further 16 hotels in GBP120 million investment. All 36 hotels will retain their Jurys Inn brand despite the change in ownership and management. Pandox currently has 122 hotels spanning 11 countries, including Norway, Finland and Denmark, offering around 27,000 rooms. Its investment in the UK is understood to be directly driven by changes post the UK’s Brexit vote, with has produced an increase in domestic staycations and more inbound demand driven by the drop in value of the Pound (GBP). “The acquisition fulfils all Pandox’s strategic criteria regarding countries, cities and locations, as well as size, segment and profitability,” says Pandox CEO Anders Nissen said in a statement, also delivering to the company a “considerable market presence in the UK and the Republic of Ireland”.