Radisson optimistic about summer: Radisson Hotel Group is optimistic about summer leisure and business travelers, with over 90% of the Group’s hotels in EMEA open. The Group is confident of recovering business on the back of the addition of 33 hotel signings and almost 4,500 rooms across its EMEA portfolio. The Group plans to open around 30 properties this year, including hotels in popular summer holiday destinations like Turkey, Dubai, Italy, France, U.K. and Poland. Destinations like France, Switzerland, U.K., Russia and the U.A.E. are gaining popularity among travelers, with rising occupancy rates. The U.K. and France, particularly, have experienced a robust increase in demand where the Group expanded its presence with several new properties.
US fund buys Nobu in Shoreditch: Electra America Hospitality Group reportedly has acquired for £75 million (US$10.4 million) the Nobu hotel in London’s Shoreditch area. Electra America was formed earlier this year with luxury operator AKA to raise US$500 million to acquire and reposition distressed independent assets. The group acquired for a big discount last month The Roger in New York from Pebblebrook Hotel Trust for US$19 million.
Dunk Island acquisition: Dunk Island in Queensland, Australia, has been purchased by Upsense Media Capital, an Australian private equity firm that specializes in entertainment and hospitality investments. The resort on the island has been in disrepair since Cyclone Yasi ravaged the island in 2011. Upsense said that the future of the resort was yet to be decided. Dunk Island was sold to investment group Mayfair 101 in September 2019 but was repossessed by the family of Australian businessman Peter Bond in 2020 after Mayfair failed to meet payment commitments. Upsense general managing partner Mark Spillane said the resort was purchased for slightly less than the AU$31.5 million (US$23.6 million) Mayfair 101 had agreed but failed to pay.
Seera Group, Kaden Investment in KSA: Travel and tourism company Seera Group and Saudi developer Kaden Investment signed a joint venture to manage and develop hotels in various projects developed by Kaden throughout the kingdom. The first hotel will be launched at Riyadh Front, a major business park for local and international organizations. The hotel is located 10 minutes from King Khalid International Airport and within the business area of Riyadh Front and the shopping area.
NH Hotel completes sale: NH Hotel Group closed the sale of its NH Collection Barcelona Gran Hotel Calderon to LaSalle Investment Management for €125.5 million (US$148.8 million). The hotel will be leased back to NH for 20 years, with the option of two renewals of 20 years each, for a total potential lease term of 60 years. With this deal, the NH Hotel Group expects to generate an estimated net capital gain of €46.7 million (US$55.4 million) and €113 million (US$134 million) of net cash after taxes. The operation brings NH to its target of generating approximately €200 million (US$237 million) of proceeds from asset rotations in 2020, which will be used to boost liquidity and reduce debt.
Call for mass vaccination at the Algarve: Businessmen from the hospitality sector in the Algarve, Portugal, called for mass COVID-19 vaccination and mass testing in the region, along with positive discrimination for those with digital certificates. Summer travel forecast appears negative for the region with many travellers, who had already booked vacations, cancelling and many people not booking holidays at all. Businessman Miguel Gião said only 300 vaccines arrived at Faro, whereas 1,000 people need to be vaccinated, adding that the Algarve was the region where vaccination was most delayed.
Pavilions accepts cryptocurrency payments: The Pavilions Hotels & Resorts has partnered with crypto-payment gateway Coindirect to became the first global boutique hotel group to accept cyptocurrency for hotel bookings, enabling customers to pay with Bitcoin, Ethereum and 40 other virtual currencies. Payments via cryptocurrency will be available for direct bookings through hotel reservation center from July 7 and later will be available on website booking engines as well. The Pavilions Residences, which are available for sale at the group’s Phuket and Niseko resorts, will also accept cryptocurrencies for the sale of properties.