Essential news from around the world…
Schrager’s Paramount hotel in New York to become a Hard Rock Hotel
Ian Schrager’s Paramount hotel in New York has been sold to US venture capitalists Becker Ventures for $126.5m (£68.5m). It will be rebranded as the Hard Rock Hotel New York after a major revamp that will start next year. Lifestar Hotels – the joint venture between Spain’s Sol Meliá Hotels and Resorts and the Rank Group’s Hard Rock Café International division - will develop and manage the property.
Outrigger sells two Hawaiian resort hotels to Blackstone
Outrigger Enterprises of Honolulu has agreed to sell two Hawaiian resort hotels to affiliates of Blackstone Real Estate Advisors for an undisclosed sum. The 521-bedroom Wailea Marriott hotel on Maui and the 545-bedroom Waikoloa Beach Marriott resort hotel on Big Island will retain their franchise agreement with Marriott after the sale.
Radisson opens second Turkish hotel in Ankara
Radisson SAS Hotels and Resorts has opened its second hotel in Turkey. The 153-bedroom Radisson SAS Hotel Ankara includes a rooftop executive lounge, a fitness centre, and 264 sq m of conference facilities including six meeting rooms. The opening room rate is €85 (£56.72) for a standard room.
Starwood picks Barcelona for European debut of its W brand
Starwood Hotels and Resorts will open its first W-branded hotel in Europe in Barcelona in 2008. The 475-bedroom waterfront hotel will be sited at the new entrance to the Port of Barcelona. Starwood is currently scouring London, Paris and Rome for potential W sites. Starwood has also announced its first W hotel in Arizona, which will open in 2007 in Scottsdale and feature 225 bedrooms and up to 30 luxury condominiums.
Pick-up predicted for Warsaw hotels by 2008
Occupancy in Warsaw hotels is predicted to drop to 45% this year due to the high number of new hotels entering the market since 2001, concludes a new study by HVS International. It also anticipates further falls in average room rates, which have dropped by 15-20% among four- and five-star hotels. With more hotels due to open, HVS forecasts that the market will not turn around until 2007 or 2008.
Conrad to run luxury hotel in Indianopolis
Conrad Hotels has signed an agreement with Kite Companies to manage a new-build hotel in Indianopolis in the USA. The hotel, which opens in March 2006, will offer 243 bedrooms, 16 high-end residences, up-scale dining, spa and fitness facilities, and more than 10,000sq ft of meeting space.
SBM to expand hotel bedrooms in Monaco by 50%
Hotel group Société des Bains de Mer (SBM) is spending €320m (£213m) on developments that will boost its bedroom numbers in Monaco by 50% by 2005, from 641 to 978 bedrooms. The key project is the construction of a four-star, 330-bedroom hotel on the Larvotto Peninsula, which will open in October 2005. Last month, SBM completed the addition of two extra storeys to the Hotel Hermitage which created 63 extra bedrooms.
by Angela Frewin
Buy this week's Caterer magazine for more industry news and analysis