Absolute Share Price Performance Over the Past Week – 27 January-3 February 2011
NH Hoteles – During the past week, NH Hoteles dipped 0.2% on high volume, falling for a second consecutive day, a two-day fall of 0.5%. | Sol Meliá – Sol Meliá rose 0.8% on high volume, rising for a third consecutive day, a three-day rise of 4.4%. | Accor – Share prices strengthened above the 50-day Exponential Moving Average Price.

A First For Finland

Marriott International announced this week that it will be opening its first hotel in Finland at the beginning of 2013 under a franchise agreement with Scandinavian Hospitality Management. The Helsinki Marriott will grace the shores of the Gulf of Finland in the country's capital city. The 272-room hotel will be owned by Kiinteisto OY Kuninkaansatama, a joint venture between Ultivista OY and BMZ-Invest OY. Commenting on the news, Amy McPherson, Marriott International's president and managing director in Europe, said: "We see strong development opportunities in the Nordic countries and are excited to see our expansion continue into Finland."

A Trio for Kempinski

Kempinski Hotels has signed management agreements for three new hotels in Eastern Europe: the Kempinski Hotel Ekaterinburg in Russia, the Kempinski Hotel Marienbad in the Czech Republic, and the Kempinski Hotel Yerevan in Armenia. The newly built Kempinski Hotel Ekaterinburg will have 200 rooms and suites plus residences. It will further expand Kempinski's Russian portfolio, following management agreements for properties in Nizhny Novgorod, Rostov-on-Don and Novosibirsk. The Kempinski Hotel Marienbad will be the second Kempinski Hotel in the Czech Republic, along with the Kempinski Hybernská Prague which opened in 2008. The 80-room boutique hotel will welcome its first guests in 2012. Last but not least, the Kempinski Hotel Yerevan marks Kempinski's debut in Armenia. The five-star property will have 150 rooms and suites, and is expected to open in 2013.

Rezidor's Park Inns Keep On Rollin' In Russia

Rezidor has announced two new Park Inn by Radisson hotels for Russia as part of a strategic development agreement with Regional Hotel Chain, which it signed in 2009. The new hotels, which will each have 150 rooms, are expected to open in 2013 in the port of Volgograd, in the southwest, and the city of Nizhny Novgorod, in central Russia.

Armani Heading To Russia

Rumours abound that Russia is to be the next location for one of Giorgio Armani's luxury hotels. It is reported that a 100-room property could be built in a spa resort town in the Stavropol region for a cost of US$150 million.

A Bulgari For London

A spokesperson for Bulgari has confirmed that the Rome-based luxury brand is currently in negotiations with Prime Hotels for a Bulgari hotel in London sometime next year. Although no further details have been released yet, it is reported that a £350 million development already under construction on the site of the former Normandie Hotel, in the Knightsbridge area of the city, could be the location for the new property. Bulgari has a 58-room hotel in operation in Milan, but this would be its first hotel in the UK.

A New Macdonald For Manchester

Privately owned Scotland-based Macdonald Hotels & Resorts has taken on the management contract for the former Princess Hotel in the city of Manchester, northwest England. After a £3.5 million refurbishment, the 85-room Grade II-listed boutique hotel has now been renamed as the Macdonald Townhouse Hotel and has become Macdonald's second hotel in Manchester, alongside the 338-room Macdonald Manchester Hotel & Spa.

David Clarke To Say Farewell To Best Western

After half a decade as Best Western's UK chief executive, David Clarke is to resign from the position as of September this year. Mr Clarke has led the group in his capacity as chief executive officer of Best Western's parent company, Interchange & Consort Hotels. Mr Clarke found television fame last year on the Channel 4 series Undercover Boss, which saw him work alongside some of Best Western's staff incognito as a waiter, chef and housekeeper. "I've thoroughly enjoyed the past five years at the helm and we have a strong executive team and board in place to build on our achievements aimed at providing services to the independent hotel sector", said Mr Clarke, commenting on his decision. "Having steered the organization through some major changes, it is now time for me to seek out some new challenges, and I'll continue being involved in companies in the hospitality industry", he added. The search has already started for Mr Clarke's replacement and it is hoped that he/she will be in place by mid September.

The IHIF Is On Its Way

This year's International Hotel Investment Forum in Berlin, Germany, is to take place over 7-9 March at the InterContinental Berlin. The event will include interviews with leading hoteliers, forecasts from top economists and panel discussions on the latest developments, trends and best practices in the hotel and investment industry. Speakers at the event include Russell Kett, HVS London's managing director; Charles Human, managing director of HVS Hodges Ward Elliott; Philip Bacon, managing director of the HVS Madrid office and HVS Shared Ownership Services; and Arturo Garcia Rosa president of HVS Argentina. To register for the conference or for more information click here.

Ibis To Appear In Saudi Arabia

Accor has signed a management agreement with Al Mohammadia Almotahda for Real Estate Investment Company which will result in the first ibis property in Saudi Arabia. The 176-room ibis Riyadh is currently under construction and is due to open in 2012. Accor currently operates nine other ibis properties in the Middle East. The French company also announced this week that it intends to open a further 18 hotels in the region under its various brands by 2014, including the launch of its new Adagio brand in Abu Dhabi late this year or early 2012.

Marriott's Libyan Debut

JW Marriott Hotels and Resorts is to open its first hotel in Libya, North Africa, this month. The JW Marriott Hotel Tripoli is due to open on 15 February with 370 guest rooms and suites. The five-star hotel will overlook the Mediterranean in the city of Tripoli, in north Libya.

Ibis Number 900

Accor celebrated a milestone this week as it opened its 900th ibis hotel: the ibis Tanger City Center. This 196-room hotel is the second ibis property in the city of Tangiers, Morocco, and it brings Accor's portfolio in Africa up to 100.

Starwood Hotels and Resorts' Fourth-Quarter 2010 Results

Starwood Hotels and Resorts has reported that adjusted EBITDA for the last quarter of 2010 was US$269 million. Income from continuing operations was US$206 million, compared to a loss of US$186 million in the fourth quarter of 2009. Net income was reported to be US$339 million and US$1.78 per share in the fourth quarter of 2010, compared to a net loss of US$107 million and US$0.59 per share for the same period in 2009. Starwood's chief executive officer, Frits van Paasschen, said: "We ended 2010 with a strong fourth quarter, and momentum has continued into 2011. Our robust RevPAR growth is fuelled by strong global brands along with sales and marketing initiatives. By containing costs we are translating these higher revenues into higher profits." The company's adjusted EBITDA for the three months ending 31 March 2011 is forecast to be between approximately US$195 million and US$205 million.

Gladen's Tidings

The news from Spain by Esther Gladen, Business & Market Intelligence Analyst, HVS Madrid. Another NH hotel has opened in Madrid: the 224-room, four-star NH Rivera de Manzanares, which is located in the area of the Madrid Rio project. German group Precise Hotel Collection enters the Spanish market: the company will operate the 196-room, five-star Hotel Rompido Golf in Cartaya, Huelva, which it recently purchased. The attached 185-unit, four-star Aparthotel Marismas Club will also be operated by the group. Previously, both properties were operated as Seth Hoteles.

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