Tag: Hotel Sales

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Hoxton Hotel Owner Ennismore Buys Gleneagles

July 9, 2015 at 8:25 AM | by | ()

How is that for a surprising headline? Gleneagles, the luxury golf resort in Scotland that hosted the G8 summit and the Ryder Cup last year, was just bought by Ennismore, the group behind Hoxton Hotels. Yes, those Hoxton Hotels: the original in Shoreditch, last year’s addition in Holborn, the new opening in Amsterdam next week, and future hotels in Southwark, Paris, and Williamsburg.

Before you think that means the 232 rooms and suites will go all affordable chic and the two-Michelin starred restaurant will be replaced by a Chicken Shop, don’t worry – that won’t happen. It will be run as a “standalone” business, but will be at the receiving end of “significant sums” of investment.

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The Colony Palms Is the Next Palm Springs Hotel to Get a Facelift

Go To The Hotel's Web 
  Site Where: 572 N Indian Canyon Drive [map], Palm Springs, CA, United States, 92262
July 7, 2015 at 9:41 AM | by | ()

As if there wasn’t already enough upheaval in the wonderful world of Palm Springs, here comes more big news: the Colony Palms has been sold, and is going to spend the next few months getting its face lifted.

Palisades Hospitality Group (which has a 30-strong portfolio across California, Hawaii and Mexico including the El Dorado in Sonoma) and CovoCapital (a San Francisco-based investment company) snapped it up last week, and have already announced “enhancements” to the spa, Purple Palm restaurant, and guestrooms, along with landscaping changes and an extra 1200 square feet of event space being created (hopefully not out of the lush gardens).

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Ultra Cool QT Hotels are Now Off to New Zealand

Where: 90 Cable Street, Wellington, New Zealand, 6011
June 11, 2015 at 6:13 PM | by | ()

There's really no hiding the fact that we are enamored with QT Hotels, the hip, Aussie hotel chain that had wowed us with singing elevators, free WiFi and yummy cocktails. But now we don't have to stick to Down Under to revel in their cool rooms and rad lobbies.

QT will be opening in New Zealand in Wellington for its first international adventure by acquiring the equally as unique Museum Art Hotel. The Capital city hotel is the brainchild of Chris Parkin, a local art collector and Wellington City Councillor who still operates the property today, which was physically moved in 1993 to save it from demolition.

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Starwood Just Sold the Gritti Palace, But Don't Panic Just Yet

Go To The Hotel's Web 
  Site Where: Campo Santa Maria del Giglio 2467, Venice, Italy, 30124
May 13, 2015 at 8:25 AM | by | ()

#Thatmomentwhen one of the most famous hotels in Europe gets sold and you start panicking that it’s the end of an era until you realize that everything’s going to be just fine and it’s just the owners, not the management, that are swapping keys.

That panic was all over us earlier this morning when saw a press release with the words “Gritti Palace” and “closing” in the headline. Could one of Starwood’s two flagship properties in Venice really be leaving the Luxury Collection?

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Qatar Buys Maybourne, Redevelopment for Claridge's and the Berkeley on the Horizon

Go To The Hotel's Web 
  Site Where: Brook Street, Mayfair, London, United Kingdom, W1K 4HR
April 27, 2015 at 8:55 AM | by | ()

It’s possibly the most quintessentially English hotel, but Claridge’s is about to get a little less anglo, as Qatar has just bought the hotel, along with its siblings the Connaught and Berkeley.

Qatar’s Constellation Hotels Group – which already owns the Intercontinental Park Lane – has snapped up a 64% stake in Coroin, which owns the Maybourne Hotel Group (and is mainly owned by the Barclay brothers, who also own the Telegraph newspaper and London’s Ritz).

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Hilton Rose Hall is Not Quite a 'Jewel' But Almost

January 27, 2015 at 1:33 PM | by | ()

The all-inclusive Hilton Rose Hall Resort & Spa in Montego Bay was recently purchased by Sagicor Life Jamaica, owner of the three Jewel Resorts in Jamaica: Jewel Runaway Bay, Jewel Dunn's River and Jewel Paradise Cove.

However, no name change is taking place, at least for now. The 489-room resort will continue to operate as the Hilton Rose Hall Resort & Spa and will be managed by Aimbridge Hospitality. And Hilton loyalists, have no fear! Guests of the resort will continue to have access to Hilton benefits, including participation in the Hilton HHonors loyalty program.

However, there will be some upgrades happening to the resort. In a press statement, Dave Johnson, President and CEO of Aimbridge, talked (vaguely) about the future plans for the property:

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Revel Resort Remains Closed and Now, Ownerless

November 20, 2014 at 10:31 AM | by | ()

The luck has gone from bad to worse to slightly better and then back to worse for the now-closed Revel Resort & Casino on Atlantic City's boardwalk. The Canadian firm who announced last month they would buy the resort for a bargain $110 million has decided to drop the deal.

Toronto-based Brookfield US Holdings LLC has simply said that it "terminated the Revel acquisition." The Press of Atlantic City first reported the news and said the reason for the termination was because " bondholders refused to rework debt connected to construction of Revel’s power plant." The power plant story is kind of a doozy. Read the Press' report to find out more.

So what does this mean for Revel? Well, a backup buyer was named at the bankruptcy auction, developer Glenn Straub. He even appealed the bankruptcy court decision to name Brookfield as owner. The good news is, he's still very interested but he doesn't seem keen to keep the aspect of Revel. Hey, something is better than nothing, right?

Keep reading for another update on the AC Hotel Scene

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The Waldorf Astoria To Be Sold But Will, Of Course, Remain a Hilton Hotel

Go To The Hotel's Web 
  Site Where: 301 Park Avenue [map], New York, NY, United States, 10022
October 6, 2014 at 2:50 PM | by | ()

The legendary Waldorf Astoria Hotel on Park Avenue, the hotel that spawned an entire collection of luxury hotels, is about to be sold to a Chinese insurance company for a whopping $1.95 billion.

But don't worry. It will remain a Waldorf Astoria Hotel. Hilton Worldwide, who unloaded the property, will remain in charge of the hotel's operations for the next 100 years.

Despite the property leaving Hilton's hands, the best news to come out of this sale is that THE HOTEL WILL FINALLY, AT LAST, GET RENOVATED. We've long known that the regular rooms at the hotel are total dogs. The Waldorf Tower rooms are more luxurious but still look a little stale and stuffy. No word on when the renovations will begin but we hope it's ASAP.

[Photo: HotelChatter Flickr Pool]

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Revel May Be Resurrected, Thanks to New Owner

October 1, 2014 at 6:26 PM | by | ()

Just a few short weeks ago, we watched as Revel Resort & Casino, the strikingly modern casino on Atlantic City's boardwalk, closed down after just two years in operation. This closure was followed by more closures and more bad news. However, someone else's metal detector just went off in the sand and it could mean the resurrection of Revel.

Toronto-based Brookfield US Holdings LLC has agreed to buy the Revel Resort in a bankruptcy auction for just $110 million. The casino cost $2.4 billion to build. Brookfield US Holdings LLC (nice name for a Canadian company, eh?) also owns the Hard Rock Las Vegas and the casino at Atlantis Paradise Island in the Bahamas.

There's a little bit of a hurdle for the new owners to overcome as they expect to be delinquent on an interest payment for their Hard Rock property. But a spokesperson said that shouldn't affect Brookfield's ability to buy the Revel. (Um? It probably should.) Anyhoo, tentative plans call for the resort to once again operate as a resort-casino. There's no timeline and there's no word on whether the name Revel will remain (indeed we suspect Hard Rock could come in here) but so far, this looks like much-needed good news for Atlantic City.

[Photo: HotelChatter]

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It's Regent vs. Starwood in a Battle for The Venice Lido

Where: Lido, Venice, Veneto, Italy
June 11, 2014 at 9:22 AM | by | ()

The Excelsior, up for sale

Last week we learned that one struggling Venice island hotel had finally had its prince come along, in the shape of St Regis, and it got us thinking: what’s happening with the grande dames of the Lido?

The glorious old Hotel des Bains – which was the setting for Death in Venice and, more recently, one of the venues of the Venice Film Festival – closed in 2010, to be redeveloped into luxury apartments within a year.

But in Venice a few months ago, we couldn’t help noticing that it was still a building site.

Meanwhile, the Excelsior, which was a Starwood property until 2008 (along with the des Bains) is still operating, but up for sale.

According to Il Sole 24 Ore, everything is up in the air. There’s some complicated real estate fund stuff going on, but basically Est Capital, which bought the properties off Starwood, has foundered, and they’ve been passed to Hines Sgr, which is mulling over the options.

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Riu's Decision to Buy the Radisson Blu St. Martin Raises A Lot of Questions

March 26, 2014 at 11:53 AM | by | ()

At the beginning of the Caribbean season, we told you about a cool opportunity to travel by boat from Princess Juliana Airport to The Radisson Blu in Anse Marcel on the French side of St. Martin.

Well, after only four years of operating under the Radisson Blu brand, the property has been bought by Riu Hotel & Resorts for $45 million and will undergo a name change to the Riu Palace St. Martin on June 1st.

While it has yet to be announced whether Riu will make any physical changes to the property, we do know that it will become an entirely all-inclusive resort under the new ownership. There was an all-inclusive option under Radisson, but it was not an all-inclusive property.

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A Sale May Be Pending But It's Sexy Business as Usual at The Fontainebleau

Go To The Hotel's Web 
  Site Where: 4441 Collins Ave [map], Miami Beach, FL, United States, 33140
September 4, 2013 at 8:54 AM | by | ()

UPDATE 9.6.13: A rep for the hotel emailed us to say, "We're having our most successful year on record since reopening in 2008. We're averaging over 80% occupancy a year and have the highest revenues in the history of Fontainebleau. In fact, Fontainebleau is one of the most profitable non-casino hotels in the world." In other words, party on.

It's unbelievable that even in the face of financial troubles, Miami Beach's legendary Fontainebleau is still partying like all's right in the world.

The hotel capped off their summer of BleauLive concertsthis past weekend with a performance by singer Robin Thicke and Grammy-winning producer/musician Pharrell Williams. The duo took to the stage and performed their monster summer hit, "Blurred Lines."

Meanwhile, the details are equally blurry regarding the upcoming sale of The Fontainebleau to South Florida developer Turnberry Ltd. Dubai World, who has 50 percent stake in the hotel, has already unloaded other assets to repay $25 billion worth of debts, with the SoBe hotel the most recent on the chopping block.

According to an article in Reuters, the sale of the hotel will be completed in a few weeks, but the price is being kept hush hush according to their source, and Dubai World's spokesman would not comment.

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