Spanish boutique hotel comes to market
The Rocamador, a 32-bedroom boutique hotel in the Extremadura region of Spain has come to market through property company Christie & Co for €12m (£10.1m). The Rocamador is being marketed and sold in conjunction with its smaller sister hotel the six-bedroom La Comarcal, which is situated nearby.
IHG to open beach resort in UAE
InterContinental Hotels Group (IHG) has signed a deal with Seba Properties for the development of the InterContinental Fujairah Resort, a beachfront property in the United Arab Emirates (UAE). The five-star 291-bedroom hotel will be the first IHG property of its type to launch in the UAE when it opens towards the end of 2010.
US hotels post first fall in average daily rate in five years
The US hotel industry saw the first year-on-year decline in average daily room rate in five years during October, according to a report from Smith Travel Research. The rate fell 0.5% to $107.60 (2007: $108.19). The decline broke a 63 month consecutive streak of positive year-on-year growth. Despite this, DTR vice president of global development Jan Freitag warned hoteliers not to heavily discount their rates.
Mandarin Oriental to come to Atlanta
Luxury hotel operator Mandarin Oriental Hotel Group has signed a management contract to run a new hotel and branded apartments in Atlanta, Georgia. The project is due to open in 2011 and will form part of a 53-storey mixed-use development in the heart of the city’s Arts district.
By Chris Druce