A pretty penny for the Caledonian: Edinburgh’s Caledonian Hotel was sold to an overseas investor in a deal worth £85 million (US$117 million). Its new owner is Abu Dhabi-based Twenty14 Holdings – the hospitality investment arm of Lulu Group International – but the hotel will continue to operate under the Hilton’s flagship brand Waldorf Astoria. The Caledonian joins a portfolio of US$650 million worth of luxury property across the UK, the Middle East and India that Twenty14 has assembled since 2014. Twenty14 Holdings intends to invest a further £20 million (US$27 million) in a program that will see the property enhanced and expanded by 50 guest rooms over a period of two years beginning in 2019.
The deal represents the biggest hotel sale in Scotland in three years and the largest in the UK in the past 12 months.
Giving books the boot: Marriott International, which apologized to China last week over perceived political slights on its website, removed from a local hotel decorative copies of a book that alleges government abuse of the banned Falun Gong spiritual group. As recently as Sunday, hollow, cardboard copies of “Bloody Harvest: the Killing of Falun Gong for Their Organs” appeared on bookshelves in the lounge of the Element by Westin hotel in Chongli, a ski area about three hours northwest of the Chinese capital that is being developed as an Olympics site. China branded the Falun Gong an “evil cult” in 1999 after about 10,000 followers surrounded the Communist Party headquarters in Beijing in a silent protest.
Pay less, get more? Airbnb is rolling out a new feature called Pay Less Up Front, which lets guests stagger the bill for their accommodation. In most cases, guests will pay 50% of the bill upfront, with the remainder before check-in.
Fairfax Marriott sells: Blue Vista Capital Management and The LCP Group, L.P. jointly acquired the Fairfax Marriott at Fair Oaks in Fairfax, Virginia from Apple Hospitality REIT. The purchase price was not disclosed. The 316-room property is located outside of Washington, D.C. The hotel contains 15,000-square-feet of meeting space, the 703 Bar + Kitchen, and the amenities, facilities, and services of a full-service Marriott hotel. The property will be managed by Crescent Hotels & Resorts.
Rezidor signs in Timisoara: Rezidor Hotel Group signed the Radisson Blu Hotel, Timisoara, bringing the group’s portfolio in Romania to four hotels. The hotel, which will have 160 rooms, a signature restaurant and bar concept, ballroom and fitness center, is expected to be completed in 2020.
Spain hotel investment data: In an annual report from consultancy firm IREA, Insights on the Hotel Investment Market in Spain 2017, hotel investment in Spain soared to €3,907 million (US$4,783 million) in 2017 (including investment in both operating hotels and in properties to be converted into hotel use), setting a new all-time record, and easily beating the previous record set in 2015, when the investment volume reached €2,614 million (US$3,200 million). Last year, Spain registered a total of 182 hotel sales, equating to a total of 28,813 rooms, compared to the 147 hotels and 21,646 rooms sold in 2016. Not only did the number of properties sold rise, but so too did the average price per room, which came in at close to €119,000 (US$145,701), circa 30% up on 2016’s average price.
Gloria signs with NCT: Gloria Hotels & Resorts signed an agreement with NCT Group for the addition of 3 overseas properties to Gloria Portfolio. The 3 properties are located in Genting Highlands, Malaysia.
Intercity collaboration: IntercityHotel GmbH instigated a special new link by entering into a cooperation agreement with the Brazilian brand Intercity Hotels. The cooperation arrangements, which were officially launched now, will see the two companies working together in the fields of sales and marketing. In future, guests will be able to use the two Internet presences to obtain information about hotels in Europe or South America in their own language and access the relevant booking screen.
Mövenpick COO Middle East & Africa retires: Mövenpick Hotels & Resorts’ Chief Operating Officer Middle East & Africa Andreas Mattmüller will retire on January 31 following a hospitality career spanning 43 years, more than 16 of which have been spent working in senior positions with the Switzerland-headquartered hospitality firm.