The Fairmont St. Andrews Hotel and Golf Resort based in Scotland has been sold for approximately £32.4m ($54,000,000 USD) to Kennedy Wilson Europe Real Estate Plc, says CBRE Hotels Group, who handled the transaction.
The European hotel development pipeline comprises 925 hotels totaling 149,866 rooms.
Irish hotel operator Dalata has raised €265 million ($369 million) from an initial public offering, higher that the company's target.
The total European hotel transaction volume in 2013 reached the market's highest point since 2007.
For its tenth year as a standalone company, InterContinental Hotels Group announced a 10 percent annual profit in 2013. The Denham, England-based company said operating profit before exceptional items and tax reached $668 million in 2013.
Meliá Hotels International will open its first location in Austria, in the country's tallest skyscraper. The Meliá Vienna will take up 17 of the 58 floors in the 722-foot-tall DC Tower I, according to a company announcement.
U.S. billionaire Donald Trump has purchased a golf resort in County Clare, Ireland, marking the first Trump Hotel Collection property in Ireland. The property mogul's organization completed the purchase of the oceanfront Doonbeg Golf Club.
Hotel transaction volumes in Europe, Middle East and Africa increased by 17 percent in 2013 to $13.2 billion, led by the core markets of U.K., France and Germany. In 2014, hotel transactions are expected to grow by more than 20 percent to $16 billion.
The first berths at Marina Port Vell, Barcelona's new super yacht marina, are due to be delivered this spring according to owners Salamanca Group. By the end of 2014 Port Vell should provide 167 fully serviced berths and be Europe's first city centre super yacht marina.
U.S.-based private equity firm NCH Capital Inc. gained permission from the Greek government to build a resort on the island of Corfu, Bloomberg reports. The firm will spend 23 million euros ($32 million) for the leasehold and invest approximately 75 million euros.
Moscow's hotel market is forecast to add 13,000 new hotel room by 2018, possibly hindering average rates for the market, according to Jones Lang LaSalle. The market is ending the year relatively flat compared to last year,
The European hotel industry recorded positive yearly results in November for all metrics recorded by STR Global, with demand surpassing North America's hotel market. "North America has steadily outperformed Europe in terms of demand growth on a 12-month rolling basis,"
Global investors are demonstrating more confidence in the amount of hotel transactions in the EMEA region for both the short and medium-term future than they did earlier this year, according to the Global Hotel Investment Sentiment Survey from Jones Lang LaSalle.
Las Vegas Sands Corp. is no longer pursuing plans to invest more than $30 billion to develop a series of integrated resorts in Madrid, Spain. The Spanish government rejected a series of conditions LVS had placed in order to continue with the Europa Vegas project.
Global airline passenger travel is expected to grow by five percent annually until 2017, with the Middle East and Asia-Pacific leading international passenger growth, according an industry forecast from the International Air Transport Association.
The most exclusive property in Austria's most expensive ski resort is for sale with a price tag of €35,000,000 (USD $47,540,525). The 13-bedroom chalet in the Tyrolean resort of Kitzbühel boasts a 16-seater cinema, a gym, sauna and spa complex and underground heated garage.
Lake Nona Golf & Country Club is a 600-acre private residential golf club community set amidst pristine freshwater lakes and a canopy of tall oaks, pines and native cypress trees.
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