Issue 2306 - 9 October, 2019

    Athens bid revealed

    US casino operator Mohegan Gaming is pitching to win a key Athens development site. The winner will develop the former Athens airport site with a scheme including casino, luxury hotel and conference centre, reports Reuters. Mohegan, with local partner GEK Terna, is up against Hard Rock International, also bidding for the 30 year concession. After [...]

    Singapore Andaz sold

    Local investor Hoi Hup has paid SGD475m for the Andaz hotel in Singapore. The price for the 342-room hotel equates to around SGD1.39m per key, reports the Straits Times. The hotel opened in 2017 and was developed by joint venture M+S, as part of the mixed used Duo project. The first Andaz to open in [...]

    Strong demand tightens yields

    European hotel investment volumes were up 4.3% in the first three quarters of 2019, at almost EUR16bn. Continuing strong demand led to yields starting to compress in Q3, reports Savills. The Madrid, Lisbon, Warsaw, Dublin and Copenhagen markets all saw yields shrink, with strong buyer appetites and lower finance costs boosting demand. Cities with growing [...]

    Center Parcs for sale?

    Brookfield Property Partners is weighing up disposal options for its UK Center Parcs holiday villages. The business could attract GBP3bn in a sale or stock market listing, reports Sky News. Brookfield bought the business in 2015, and has since added a new site in Ireland, which opened earlier this year. The business delivered pretax profits [...]