Patron Capital, the pan-European institutional investor focused on property and property-backed investments, has completed the sale of its two flagship hotels at Westfield Stratford City in East London, at the gateway to the Olympic Park. The deal was brokered by CBRE Hotels EMEA, acting on behalf of the seller. The hotels, which are branded as a Holiday Inn and a Staybridge … [Read more...]
Bespoke Hotels: delivering results for hotel owners
At the start of December, Bespoke Hotels took on the management of the 34 hotels of Oxford Hotels and Inns, expanding its eclectic portfolio of boutique hotels to 97 properties worldwide, though this was not in time to have a significant impact on trading over the Christmas period. However, it did spur H&C News to take the opportunity to look in more depth at Bespoke … [Read more...]
Ibis Styles network expands in London
The ibis Styles London Excel has opened its doors following refurbishment of bedrooms and public spaces and now offers 302 bedrooms each featuring a work desk, flat screen TV, tea & coffee making facilities and a shower room. The hotel, ideally located opposite the London ExCeL Conference Centre in the Docklands area of London, is within one mile of London City Airport … [Read more...]
Sales and profit grow at Macdonald Hotels
Macdonald Hotels has reported a profit after tax of £1.9m for the year ended 29 March 2012. This compares to a loss of £5.6m for the previous period to 31 March 2011, which was an 18 month period and included two winter trading periods which, due to the seasonality of the business, are the weaker trading months. In the current year, MacDonalds is achieving further growth in … [Read more...]
2013: ‘year of reckoning’ for UK regional hotel groups?
Jones Lang LaSalle has published its 2013 Property Predictions, based on a transitional year for the UK economy as recovery is slowly re-established, but anticipating movement in the hotel property sector. Economic context Commenting on the firm’s annual research, Guy Grainger, UK Chief Executive at Jones Lang LaSalle, said: “There have been some brighter signs of … [Read more...]