Essential news from around the world...
Sars threat to Marriott
Marriott International saw revenue per available room (revpar) in its North American hotels fall by 1.5% during the three months to 28 March. The drop was caused entirely by lower average room rates. Full-service hotels saw a 1.7% drop, while limited-service and extended-stay brands experienced a decrease of just 1%. Internationally, revpar was up by 6.8% but the Sars outbreak had caused demand to fall significantly in many Asian markets since late March, Marriott said.
Orient-Express buys Ritz
Orient-Express Hotels has bought the 167-bedroom Ritz hotel in Madrid, Spain, for $135m (£85m). The hotel was bought in a joint venture with Spanish investment company Omega Capital. The Ritz is Orient's second hotel in Spain. It was previously owned by Le Méridien Hotels & Resorts.
Poor first quarter for Starwood
US-based hotel group Starwood has reported a $116m (£73m) net loss in the three months to 31 March, compared with a net profit of $32m (£20m) for the same period a year earlier. It blamed expenses related to the expected sale of 18 hotels in North America. Turnover during the period fell by 1.2% to $1.1b (£693m).
Thai treat for Le Méridien
Le Méridien Hotels & Resorts has signed an agreement to manage the five-star, 258-bedroom Le Méridien Khao Lak Beach hotel in Thailand's Phang Nga province. The hotel, which is under construction, is expected to open earlier next year. It will be the group's fourth hotel in Thailand.
Lucky number 13 for Kempinski
German hotel company Kempinski Hotels & Resorts is opening its 13th hotel in Germany. The 150-bedroom Kempinski Resort Hotel Albrechtshaus Harz-Magdeburg will open in 2005.
Profits up for Starbucks
Coffee shop giant Starbucks has announced increases in profits and turnover in the six months to 30 March. The company recorded a 23% increase in turnover to $2b (£1.2b) and a 31% increase in net profit to $130.5m (£82.2m), compared with the same period in 2002. Starbucks said it hoped to record a 20% increase in overall turnover for the full year and added that it would open about 1,200 new coffee shops globally by the end of 2003.
NH opens luxury hotel in Marbella
Spanish group NH Hoteles has opened the Alanda, a five-star hotel in Marbella. The property, which has 199 bedrooms and a spa, will be operated by NH under a lease agreement. NH has invested €24m (£16.6m) in the project.
Euro Disney costs rise
Euro Disney, operator of the Disneyland Resort Paris, reported revenues up by 8% on last year to €472.6m (£328m) during the six months to 31 March. But increased costs meant losses widened by 7.7% to €82.7m (£57m). Hotel revenues were up by 13% to €199m (£138m).