Starwood Hotels & Resorts Worldwide plans to increase its European hotel portfolio by almost 40 percent in the next five years.
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.
Valentine's Day, over the years, has become a truly international celebration of romance.
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.
Hotel sales volumes in the U.K. reached £2.4 billion during the first nine months, almost 2.5 times the amount recorded for the same period last year, as investors showed renewed confidence in the market.
Scandic Hotels is investing one billion SEK ($154.8 million) to launch a new hotel chain in major Nordic cities targeting a "new generation of traveler." The new HTL brand will run as a sister company to the Stockholm-based Scandic.
Immofinanz Group has sold the Hilton Vienna Danube hotel for €48.4 million ($63.5 million) to a subsidiary of Internos Real Investors Kapitalanlagegesellschaft, Frankfurt am Main. The sale price was higher than the book value, the company said.
European hostel group Generator Hostels is expanding its European portfolio with new properties in Paris and Rome, which are scheduled to open in 2014. The brand targets travelers who want to explore Europe's major cities at a fraction of the cost.
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