Sale of Grand Hotel Puccini in Milan completed: Singapore-based Group the new Owner

February 4, 2019 Redazione

The Group based in Singapore First Sponsor LTD, mainly involved in asset management, property development, and real estate construction, has completed the acquisition of a hotel building in […]


Prestigious School of Hotel Administration to join Cornell University’s College of Business

May 4, 2016 Redazione

​Cornell University’s prestigious School of Hotel Administration (SHA) will become a part of the new College of business in Fall 2016. SHA will join the Charles H. Dyson School of Applied Economics Management (AEM) and the Samuel Curtis Johnson Graduate School of Management in the new College of Business. SHA will maintain its own identity but the combined college will allow for streamlined administrative support and create more opportunities for course variety. This decision was very controversial on Cornell University’s campus, but was pushed through by the Board of Trustees in January 2016. It is predicted that the formation of the new business school will create more competition for other top comprehensive business schools. The School of Hotel Administration was founded in 1922 as the premier school for hospitality and has since expanded to be “The World’s Most Adventurous Business School.” SHA is consistently ranked as the top hospitality school in the world.


Carlson Hotel Group Acquired by Chinese Conglomerate

May 3, 2016 Redazione

​The end of April 2016, marked the end to more than 80 years of Carlson Hotel Group being a family owned hospitality company. Chinese conglomerate HNA Tourism Group acquired Carlson for an unreleased price, which includes at least a portion of Carlson’s 51.3% stake in Rezidor Hotel Group. It is still unknown how much of Rezidor HNA will actually acquire, based on Swiss takeover laws. HNA Tourism Group is a Fortune Global 500 company with over $25 billion in revenues. HNA is predicted to expand Carlson’s outreach especially with possible deals with HNA’s airlines, and financial groups. Carlson Hotel Group’s portfolio includes Radisson Blu, Country Inn & Suites, and Park Plaza. They have over 1,400 hotels in over 115 countries. These middle to luxury scale hotels have generated revenues of $7.3 billion. All while Carlson Wagonlit Travel, a business travel management company, generated over $24 billion in 2015. Carlson’s headquarters will remain in Minnetonka, Minnesota, and CEO David Berg will remain in his position.


Greek Hoteliers put assets up for sale

May 2, 2016 Redazione

​After Greece’s 2015 economic crisis, many hoteliers are putting their valuable assets on the market well below previous market value. In January 2016, 5% of hotel owners put assets on the market. The total cost of these assets is well over €1.7 billion. Some of the hotels are being sold for as low as €250,000 which is less than a two-bedroom house in many parts of Western Europe. Even with over 480 properties for sale, the numbers of tourists are steadily increasing, especially in Macedonia and Crete. However, tourists tend to flock to the higher end of the chain scale, leaving small and midscale properties in trouble. 


New Delhi’s Taj Mansigh to be Auctioned off

May 1, 2016 Redazione

New Delhi’s Taj Mahal Hotel, informally known as the Taj Mansigh, is set to be auctioned off after its final lease extension. The lease initially ended in October 2011, but has been extended at least 6 times. The 11 story hotel sits on 3.78 acres and has 294 rooms. The New Delhi Municipal Council finally agreed to the auction in January 2016 but the current operators, Indian Hotels Company Limited, still has time in the current least extension. It is set to be auctioned by the end of June 2016, the estimated price is unknown but with revenues consistently over $30 million, it is sure to be worth a lot.


Woodstock Bed & Breakfast For Sale

April 30, 2016 Redazione

​The Wild Rose Inn, located in Woodstock, NY has been put on the market for $1.36 million. It offers 6 guest suites, a penthouse, beautiful porch, swimming pool, dining room, wet bar, and a koi water garden. The Victorian home was built in 1898 and has been continuously restored since 1998. It features a cathedral ceiling with stained glass in the master bedroom of the penthouse; porcelain sinks, custom appliances and tree-top views.


Italy Sees Growth in Occupancy and Hotel Transactions

April 29, 2016 Redazione

​In 2013, Italy had the third largest hotel market in the world according to Italy’s National Institute for Statistics. After the great recession of 2008, Italy struggled to get its occupancy rates up but saw a 3.8% increase in 2011 according to STR Global. A slight dip in RevPAR in 2012 saw another rise in 2013 due to domestic travel. This increase in travel and hotel occupancy has spurred the growth of the number of hotels, especially in the upscale and upper-upscale categories, which often have more rooms than one and two star hotels. Since 2014, international arrivals have increased by 5% and are predicted to overtake domestic travel in the coming years. This international travel is partially due to disorder in Northern Africa which is rerouting many tourists to parts of southern Italy like Sicily and Apulia. With new sophisticated tourists, the number of chains/branded hotels has also increased. In May of 2015 it was estimated there were over 5,000 branded rooms added to the market over the past three years. Many of these rooms are in the luxury and upper-upscale segments in the south and the midscale to luxury segments in northern cities like Milan. These additional rooms, according to Real Capital Analytics, have been a part of over €775 million in new transactions. Included in that figure is Villa Vignamaggio (pictured), in a province of Florence, which was sold at €970,000. It is predicted then number of rooms in tourism-driven cities like Roman, Venice, Florence, and Milan will continue to grow over the next few years.


Sardinian Hotel For Sale

April 26, 2016 Redazione

​Hotel Villa Piras in Alghero has been put on the market. This hotel offers 32 bedrooms, a garden, a multipurpose room and a pizzeria that can also be rented out. The hotel offers views of Capo Caccia and has possibilities for continued renovations. Typical three star hotels in the area, like Hotel Villa Piras, go for €3.9 million.


German Castle-Hotel Up for Sale

April 25, 2016 Redazione

A castle in Germany’s North Rhine Westphalia area has been put on the market for €2.5 million. The castle has four buildings on its property and features 15 luxury rooms, a restaurant-cafeteria, an apartment, and conference halls. There is also a private house with four bedrooms and two bathrooms. The castle was built around 1231, restored in 1913, converted into a hotel in 1962. It also had additional renovations in 2007. The castle is about 400km from Paderborn Airport and exceeds over 900m2 with woodlands that extend over 41,000m2. It is being sold by Spanish Real Estate Agency Kaza Exclusiva.


Paris’ Le Meridien Etoile may be up for sale

April 21, 2016 Redazione

​Paris’ largest hotel, Le Meridien Etoile, may be put on the market in the near future. The 1,025 room hotel, only a 15 minute walk from the Arc de Triomphe, is pending being put on the market by Mount Kellett Capital Management LP. In 2014 Starwood sold the property for €300 million, but maintains its management contract. The city-center hotel is currently valued at €400 million ($450 million).