Issue 2307 - 10 October, 2019

    Sofitel sold

    Arora Hotels has sold the Sofitel at Gatwick airport in a deal reportedly worth GBP150m. Arora will continue to run the 518 room hotel under a long term lease with the new owner. The hotel was bought by Schroder Real Estate Hotels on behalf of a JV between BAE Pension Funds and Immobilien Europa Direkt. [...]

    MDAs for IHG

    IHG has signed three multiple development agreements to accelerate its European growth. The aim is to add 50 properties under the deals, over the next decade. MDAs with Success Hotel Group and Tristar will focus on adding 40 hotels in German speaking markets. A third deal with PREM Hospitality will grow brand presence in Belgium [...]

    Talash disposal

    Talash Hotels has put a portfolio of nine UK hotels up for sale. The properties, four of which run under Accor’s Mercure flag, are expected to fetch around GBP30m. Talash will retain three hotels following the disposal, and plan to pursue other business interests. The hotels, totalling 661 rooms, are across the Midlands and north [...]

    HK buyers favour UK

    Investors from Hong Kong are piling into the UK hotel market. Of GBP3.22bn spent to date in 2019, GBP947m has come from Hong Kong, reports Savills. Deal volumes are down 44% year on year, but still above the ten year average. London remains the favourite destination, though as yields tighten, Savills predict growing interest in [...]