The full year 2010 shows strong profit growth in London but stagnation in the provinces. London hotels showed a double-digit increase in profits, according to the 2010 figures in the latest HotStats survey from TRI Hospitality Consulting. The performance in the provinces, however, was less robust with Gross Operating Profit per Available Room (GOPPAR) dropping by 1.4%. … [Read more...]
5 star Valencia Hilton Hotel sold
Acting as exclusive advisors to Eurohypo, and on behalf of Administrators, Christie + Co has sold the freehold of the 5-star, 304-bedroom Hilton Hotel Valencia in Spain’s third largest city, to Continental Property Investment (CPI), the Paris-based, investment company, for an undisclosed sum. This stylish, contemporary hotel, which was built in 2007 for a reported cost … [Read more...]
Cornish Coastal Hotels acquire the Wellington Hotel in Cornwall
New group Cornish Coastal Hotels acquires first property Acting on behalf of owner Paul Roberts, Christie + Co has sold the freehold of the Wellington Hotel in the village of Boscastle, North Cornwall, to new operator Cornish Coastal Hotels Ltd, for an undisclosed sum, off an asking price of £1.65 million. Situated at the harbour side of the pretty North Cornish village, … [Read more...]
Devon’s Grade I-Listed Boringdon Hall Hotel sold
Acting on behalf of retiring owner, Paul Chapman, Christie + Co has sold the freehold of Boringdon Hall Hotel, the historic Grade I-Listed Elizabethan Manor House, near Plymouth, Devon, to experienced hoteliers the Nettleton family, for an undisclosed sum, off an asking price of £2.25 million. The imposing Manor House hotel is set within extensive gardens and grounds, … [Read more...]
European hotel pipeline for December 2010
STR Global reports Europe hotel pipeline for December 2010 LONDON—The Europe hotel development pipeline comprises 718 hotels totalling 120,251 rooms, according to the December 2010 STR Global Construction Pipeline Report released this week. “The majority of hotel rooms under construction are based in the United Kingdom”, said Elizabeth Randall, managing director of STR … [Read more...]