Hilton to add properties in Africa and South America
Hilton is to launch its first hotel in Ghana, in a move that sees the company open its ninth hotel in Africa. The Hilton Accra Airport City will be a 186-room hotel owned by Grand Real Estates and managed by Hilton Hotels. The hotel, which is schedule to open in 2010, will include a restaurant, bar with garden terrace, eight meeting rooms, an outdoor swimming pool, a health club and gym. Separately, Hilton has announced plans to expand its Embassy Suites Hotel brand by adding sites in Peru and Venezuela in 2008. The hotels in Lima, Peru, and Valencia, Venezuela, will form part Embassy's most recent international growth, which also includes expansion in Canada.
Portugal to receive 10 new hotels by 2010 Portugal is to receive 10 new luxury hotels in the Algarve by 2010 representing a total investment of €1.5b (£1b). The hotels will include eight five-star properties including the Real Marina Hotel & Spa in Olhão, which will comprise a marina, apartments and a spa. It is expected to be completed by 2009 and will be complemented by a 150-room aparthotel. Additionally there will be three developments in the Lagos area, including the five-star 165-room Meia Praia Bay Resort and the four-star 307-room Vila Gale Lagos marketed towards leisure and families.
Shangri-La expands CHI spa brandShangri-La Hotels and Resorts has expanded its spa brand CHI with openings in Guangzhou in China and Manila in the Philippines. The opening in Guangzhou marks the brand's third opening in China following launches at Shangri-La hotels in Beijing and Shanghai. The 12,917sq ft spa features 11 private suites offering herbal steam rooms, infinity baths, rain showers, and vanity areas, as well as two separate suites offering hydrotherapy treatments. The second spa in Manila, which comprises a 32,000sq ft outlet at the Edsa Shangri-La hotel, opened in June this year.
South African hotel revenue on the rise Revenue rates for hotel rooms across South Africa grew 16.7% for the first six months of 2007, marking a 5.3% increase compared with last year. A report by Deloitte on the hotel industry suggests that performance was largely driven by improvements in average room rates, which increased by 14%, while occupancy increased just 2.1%. The survey tracks the performance of more than 3,800 rooms in 80% of South Africa's major three and five-star hotels every month. Cape Town hotels achieved the lowest revenue per available room increase at 13%.
Wyndham announces $200m stock repurchaseWyndham Worldwide has announced that its board of directors has authorised a new stock repurchase programme allowing the company to purchase up to $200m (£100m) of its common stock. The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors. Repurchases may be conducted in the open market or in privately negotiated transactions.
By Kerstin Kühn
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