Trust that you will find the information below useful.
Market Updates
‘Thank you so much for all you do for this country': Prince Charles praises resilience and fortitude of hospitality sector - Prince Charles Sends Message of Support to Hospitality Industry
https://www.youtube.com/watch?v=HpvSUkqxIVw
UK hospitality industry calls for 'urgent' support
https://www.bbc.com/news/business-53297651
UK's Sunak plans to raise property tax threshold, cut VAT for hospitality sector - The Times
https://whtc.com/news/articles/2020/jul/05/uks-sunak-plans-to-raise-property-tax-threshold-as-high-as-500000-sterling-the-times/1036354/
TRIBE, Accor's Lifestyle brand, will open more than 50 hotels worldwide
https://hospitality-on.com/en/hotel-trends/tribe-accors-lifestyle-brand-will-open-more-50-hotels-worldwide
Shiva Hotels secures GBP 230 milion financing for Marylebone Lane Hotel development
https://www.property-magazine.eu/shiva-hotels-secures-230m-financing-for-marylebone-lane-hotel-development-54970.html
Oyo Is Slashing Footprint and Headcount in Virus-Hit Japan
https://www.bnnbloomberg.ca/oyo-is-slashing-footprint-and-headcount-in-virus-hit-japan-1.1460880
Philippines lands on Forbes' 'Rising Stars in Travel'
https://www.msn.com/en-ph/lifestyle/travel/philippines-lands-on-forbes-rising-stars-in-travel/ar-BB156lJ7
Hotels On Sale
Los Angeles:
Beverly Hills Hotel On Market After Embezzlement Scandal
The Viceroy L’Ermitage Beverly Hills has recently hit the market on Friday, July 3 after an investigation was conducted on the owner for a $2.5 million fraud.
Roseville, California
Roseville lists 11-acre property near Galleria for sale
Buffalo, Niagara, NY State
Amherst to sell hotel site to Uniland for $710,000
Manhattan, NY
One Of Manhattan’s Priciest Hotels Is In Default. A Foreclosure Sale Is Scheduled For This Month.
Phoenix, South Africa
Historic Phoenix Hotel up for sale
Victoria, BC, Canada
Telling tale of two hotel sales
Bath, UK
Lansdown Grove Hotel goes up for sale with £8m price tag
Savills has been appointed to sell Lansdown Grove Hotel in Bath, marketing for offers in excess of £8m.
The 61-bedroom hotel had previously been owned by The Specialist Leisure Group, which entered administration on May 22, resulting in the closure of 44 hotels within the Bay Hotels, Coast & Country Hotels and Country Living Hotels brands.
Dumfries & Galloway, Scotland
Stunning 16th Century castle in Dumfries and Galloway put up for sale for first time in 35 years
A stunning 16th century castle and baronial mansion house hotel in Dumfries and Galloway which doubles as a wedding venue has gone on the market for the first time in 35 years.
Comlongon Castle Hotel, in Clarencefield, has a long and illustrious history having been built, and originally owned, by the Murrays of Cockpool.
It is being marketed by real estate advisor Colliers International with a guide price of around £1.1 million.
Great Yarmouth, East coast of England
‘We’re dreading reopening’: Couple put award-winning hotel up for sale
Edinburgh, Scotland:
Family-run hotel and restaurant outside Edinburgh put up for sale
Koh Samui Island, Thailand
For Sale: 100 hotels on Koh Samui in the Gulf of Thailand
Nearly 100 hotels on the tourism island of Koh Samui are for sale due to the negative impacts of the coronavirus disease 2019 (COVID-19).
Bali Island, Indonesia (From Bloomberg)
BALI HOTELS GO ON SALE FOR CHEAP WITH VIRUS HAMMERING TOURISM
Gone are the Australian surfers and Chinese tour groups. Also missing are yoga aficionados seeking inner peace, like Julia Roberts in “Eat Pray Love.”
With no tourists and no income courtesy of the coronavirus pandemic, struggling hotel owners on the Indonesian resort island of Bali have been forced to put their properties up for sale. Given the dire state of the market, some may have to stomach a loss. For investors with a long view, it’s a chance to grab a slice of paradise on the cheap.
That makes Bali a risky bet. The 5,780-square-kilometer island has more than 4,300 hotels, according to government figures. Intense competition at the budget end of the market had many hotel owners strained even before the virus hit.
“Those with little cash flow to cover the lockdown period and unable to restructure or delay debt payments will likely come under pressure very quickly,” said Govinda Singh, head of hotels and leisure for valuation and advisory services in Asia at Colliers
Tycoon Running 500 Hotels Says Virus Crisis Is Worst He’s Seen (From Bloomberg)
Bill Heinecke thought he’d seen it all in a decades-long career running hotels: the Asian and global financial crises, SARS, and military coups in his adopted home, Thailand. But the current pandemic tops all that, he says.
Minor International Pcl, the hospitality group the tycoon founded in Bangkok, has furloughed thousands of workers and temporarily closed a majority of its more than 530 properties in the Asia Pacific, the Middle East, Africa, Europe and the Americas. Some of the few still open have been re-purposed as hospitals.
https://www.bnnbloomberg.ca/
Hotel Purchased
Melbourne, Australia
Good Vibes: Thai family checks into Melbourne hotel deal
Thailand's Savetsomphob family is poised to double its Australian hotel investment after striking a deal to buy the new Vibe Hotel Melbourne from developer Caydon.
It is understood the purchase price was $108 million, with the deal largely sealed before the COVID-19 lockdown.
Earlier this year, the Savetsomphob family made its maiden Australian hotel investment, buying the 145-room Vibe Darling Harbour Sydney for $108 million.
The family also owns the Intercontinental Samui Baan Taling Ngam Resort in Koh Samui, which it bought in 2018.
Boston and San Francisco, USA
A Look at Recent Hotel Sales
Palm Beach, Florida, USA
Palm Beach billionaire Jeff Greene pays $19M for hotel, expands hospitality portfolio
Palm Beach billionaire and real estate investor Jeff Greene this month expanded his Palm Beach County hotel holdings when he paid a recorded $19 million for a Courtyard by Marriott property in Boynton Beach.
Greene and a company he manages named Boynton Property Holdings LLC this month paid $19 million for the Courtyard by Marriott Boynton Beach property at 1601 N. Congress Ave.
The deal for the 8.1-acre property included the 171-room hotel with 18 two-bedroom luxury townhouse rental units. The property also is home to a Buffalo Wild Wings restaurant and a preschool.
"I was under contract to buy it for $22 million before the pandemic," Greene told the Palm Beach Daily News this week.
But he reopened negotiations with seller Boulder Hotel Management of Delray Beach after the coronavirus crisis escalated.
"They cut $3 million off the price," Greene said, adding that the deal included an agreement to use the Marriott brand at the property for 20 years, a much longer extension of the original time frame.
Rockville, Maryland, USA
Ascend Hotel Collection Adds Trio of Properties
https://www.hotelbusiness.com/ascend-hotel-collection-adds-trio-of-properties/
Market Research
Asia/Australia
Hotel values set to fall up to 30 per cent: JLL Hotels boss
Hotel values could fall as much as 30 per cent across the Asia Pacific region, including in Australia, because of the impact of COVID-19, warns JLL Hotels boss Mike Batchelor.
Bangkok serviced apartments faring better than hotels: JLL
U.S. Hotel Demand Won't Fully Recover Until 2023, Says STR
https://www.northstarmeetingsgroup.com/RSS-Covid19/Coronavirus-Update-Hotel-Resort-Casinos-Closed-Economic-Impact
Spain
COVID-19 crisis raises specter of distress in Mediterranean hotel sector
"It seems inescapable that the European hospitality sector is going to have a bit of a reckoning in the coming months," Matthew Pohlman, a partner in global law firm Goodwin's real estate group, and a member of its hospitality and leisure practice, said in an interview. "And these markets in Italy and Spain are prime for that."
Most exposed to that reckoning are small, independent, often family-owned hotel businesses that rely on a summer influx of tourists, according to several sources familiar with the markets.
Can international tourism ever recover?
https://www.schroders.com/en/insights/economics/can-international-tourism-ever-recover/
Hotels Closed
Dubai, UAE
From Burj Al Arab to Qasr Al Sarab: 10 hotels in Dubai and Abu Dhabi that are temporarily closed
Durban, South Africa
Durban's Edward Hotel stirs up memories
Durban - Memories of Durban’s grand old Edward Hotel were stirred after its closure was announced last week.
South Africa
Marriott International shuts down three hotels in South Africa
Midtown Manhattan, NY
Midtown hotel to close forever; office conversion possible
Malaysia
5-star hotels in KL up for sale as Covid-19 woes drag on
Over 100 Sarawak hotels are closing or have closed down
Coronavirus: 5 hotels in Penang, 2 in Perak shut down amid prolonged movement curbs
Four Points by Sheraton Is The Latest Hotel In Malaysia To Close Down
Portugal
Portugal’s Hospitality Firms Face Bleak Prospects Unless Holidaymakers Save the Season
https://www.euroweeklynews.com/2020/07/06/portugals-hospitality-firms-face-bleak-prospects-unless-holidaymakers-save-the-season/#.XwLPIC2cZBw
New Hotel Openings
Nashville, Tennessee, Austin, Texas
Virgin Hotels Opens in Nashville; More Debuts
https://www.hotelbusiness.com/virgin-hotels-nashville-and-other-u-s-openings/
Vancouver Island, BC, Canada
COAST HOTELS EXPANDS PRESENCE ON VANCOUVER ISLAND
https://www.hoteliermagazine.com/coast-hotels-expands-presence-on-vancouver-island/
Online events to help focus on the recovery
Australia/Asia Pacific
The Road to Recovery webinar to help hospitality venues
https://www.theshout.com.au/news/the-road-to-recovery-webinar-to-help-hospitality-venues/
Canada
FREE WEBINAR : FOLLOWING THE PANDEMIC, WILL YOUR EMPLOYEES BE ABLE TO RECOGNIZE AND DEAL WITH THE EMOTIONAL STATE OF YOUR GUESTS?
https://www.hoteliermagazine.com/free-webinar-signature-canada/
Stay Safe and Best Wishes,
Why I avoid staying in hotels in Europe as far as possible.
ReplyDeleteExperiences in the UK, Germany, Italy, Austria & France in the past 20 years (3 and 4 star category, occasionally 5 star, business and vacation). I was never looking for the cheapest offer but wanted good quality. A few hotels were acceptable but none were ideal:
1--deceptive photos in brochure or website, e.g. noisy location on main road not shown, trees & scenery grafted onto photos, ultra-wide angle shots of interiors and facilities so that they appear larger than in reality
2--undersized/miniature rooms, no floor area specification. For comfort, 2 people need at least 30 sqm
3--air conditioning or heating not present/malfunctioning
4--undersized beds, insufficient pillows
5--extraneous noise disturbing sleep: a/c or heating too loud, pumps, ventilator system or other electric motors transmitting noise through walls and ceiling, elevator noise, loud bar/disco/restaurant near room
6--insufficient cleaning, sewage odors in bathroom, shower malfunction
7--undersized, poor quality or absent public areas such as a lounge
8--mediocre or bad food quality and dining ambience, or no meal facilities apart from breakfast
9--indifferent service
10--high noise-level weddings or other parties blocking facilities for guests and lasting to midnight or later, without informing guests at booking.
11--inadequate parking facilities: too few spaces on the above ground parking lot, spaces in garage small & cramped, no maneuver room; or only public parking available far from the property
If I had to make only one point it would be undersizing in general.
Maybe this is of interest for hotel managers, maybe not. Best regards.