Worldwide briefing
Essential news from around the world…
Scandic keeps on growing
Scandic Hotels has seen a 10% increase in sales to SEK 4.26b (£291m) for the first nine months of 2000. It added 23 new hotels during the period and sold two, taking its total portfolio to 154.
Stars in their eyes
New York's newest boutique hotel, the 143-bedroom Park South Hotel, is set to open in January 2001. The property, located between Park Avenue South and Lexington Avenue on 28th Street, is part of the Atlantic Stars Hospitality Group, owner of the Avalon hotel in Miami Beach, Florida.
Royal expansion
The Le Méridien Jumeira Beach hotel in Dubai has expanded with the addition of a new 154-bedroom tower, bringing its total number of bedrooms to 500. It has also been renamed Le Royal Méridien Beach Resort & Spa.
Summit for the weekend
Luxury international hotels consortium Summit Hotels & Resorts has added two new destinations in Asia. They are: the 695-bedrooms Hotel Borobudur in Jakarta, Indonesia; and the 500-bedroom Lotte Hotel Cheju on Cheju Island, Korea.
Euro markets still hot
Investors are still keen to put their money into European hotel properties, according to the first Hotel Investor Sentiment Survey. "The hot markets are Berlin, Munich, Frankfurt, Madrid and Barcelona, along with Amsterdam and Paris," said Arthur de Haast, managing director for Europe at agent Jones Lang LaSalle, which produced the survey.
