RYEDALE is set to gain its first five-star hotel, after plans for the luxury development were given the go-ahead. Members of Ryedale District Council’s planning committee unanimously voted to approve the scheme, which will boast a 12-bedroom boutique hotel, a restaurant, swimming pool, gym and spa. Rillington House and Spa will be built at Mill House Farm, in East … [Read more...]
Racy weekends ahead at Newbury Racecourse
Bespoke Hotels Ltd has signed heads of terms with Newbury Racecourse for a ten year management contract of the racecourse’s new 120 bedroom hotel which is set to open in 2014. The hotel is part of a multi-million pound redevelopment scheme of the 320 acre, 105 year old racecourse site which received outline planning consent in April this year. The hotel, named The … [Read more...]
Worldwide hotel transaction levels to reach $28 to 30 billion in 2011
Global hotel investment volumes recovered strongly in 2010 after reaching the lowest level of the decade in 2009. Following this strong bounce back, Jones Lang LaSalle Hotels forecasts that global hotel transaction volume will increase a further 30 to 40 percent in 2011, according to initial results from the firm’s Hotel Investment Outlook 2011 report. The expected increase … [Read more...]
Popular Maidstone hotel sold after 30 years continuous ownership
Acting on behalf of the Salt family, Christie + Co has sold the freehold of the Grange Moor Hotel in Maidstone, Kent, to the Gibbons family, for an undisclosed sum, off an asking price of £2.95 million. Located within easy walking distance of the town centre, the 50 en suite-bedroom Grange Moor is a 3-Star hotel comprising a restaurant and bar; and three function rooms, … [Read more...]
UK Chain Hotels Market Review – October 2010
Growth in RevPAR hides the pain in the Provinces A growth in rooms revenue masked the reality of hotels in the Provinces suffering the biggest drop in year-on-year profitability levels since January 2010, according to the latest HotStats survey from TRI Hospitality Consulting. Despite a 1.6% increase in Revenue per Available Room (RevPAR) to £51.60 from £50.77, the unique … [Read more...]