W Hotels expand in Thailand
Starwood Hotels & Resorts Worldwide is expanding its portfolio of W Hotels with a plan to launch its second hotel in Thailand, the W Bangkok in 2011. The 400-room hotel will be located on the former Russian Embassy site in a mixed-use development comprising 70,000sq m of grade A office space, luxury boutiques and shops. The W Hotels brand portfolio includes 21 properties worldwide, including the W Retreat & Residences, Koh Samui.

Japan Leisure Hotels goes public
Japan Leisure Hotels is to float on the Alternative Investment Market to raise £100m. On admission the company will acquire a portfolio of five leisure hotels operating under the ‘Bonita’ brand, independently valued at approximately £21m, as well as additional hotels. The booming Japanese leisure hotel market sees visits from some 2% of the adult population on an average day, and is estimated to have annual gross revenue of more than £16.5b.

London & Regional move into Monaco
London & Regional has acquired its first property in Monaco. The private property firm bought the Fairmont hotel for £210m from joint owners HBOS, Saudi investor Prince Alwaleed and the Fairmont Chain, which manages London’s Savoy Hotel. The 619-room hotel, currently undergoing a £30m renovation, is sited on the famous hairpin bend on the Grand Prix circuit. London & Regional currently has interests in more than 40 hotels around the world and is one of Europe’s largest private hotel owners.

Hilton Hotels’ Iceland debut
The Hilton has opened its first hotel in Iceland, the Hilton Reykjavik Nordica. Situated a short walk from the city’s historic harbour, the hotel – formerly known as the Nordica Hotel – has undergone major refurbishment. It comprises 252 bedrooms, including 23 top-floor executive rooms with panoramic views and three luxury suites. Other facilities include the gourmet VOX Restaurant, Bistro and Bar, conference space catering for up to 650 people and the NordicaSpa. The venture brings the Hilton Hotels property portfolio in the Nordic region up to seven.

By Dee Rossi

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