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Mandarin Oriental sells stake in Macau hotel and other international hotel news

26 January 2009 by
Mandarin Oriental sells stake in Macau hotel and other international hotel news

Hilton hotels to franchise three hotels in French Polynesia Hilton Hotels has entered into franchise license agreements with Louis Wane for three hotels on the islands of Tahiti, Moorea and Bora Bora, in French Polynesia. Three existing hotels will be re-branded as the Hilton Hotel Tahiti, the Hilton Moorea Lagoon Resort & Spa and the Hilton Bora Bora Nui Resort & Spa, effective 16th January 2009. In conjunction with the franchise agreements, the three hotels will be managed by South Pacific Management, one of Tahiti's leading resort management companies. The company also announced its intention to relocate its global headquarters from Beverly Hills, CA, to the greater Washington, DC metropolitan area during the third quarter of 2009.

Park Hotel group to acquire hotels in Japan
Singapore-based Park Hotel Group has outlined plans to accelerate hotel acquisitions in Japan. The Park Hotel Group operates eight hotels in such countries as Singapore and China, adding the Hilton Otaru in Hokkaido to its holdings late last year. At a news conference in Tokyo, the hospitality group indicated that it is evaluating properties in Tokyo, Osaka and Okinawa, with the goal of opening a second hotel in Japan this year. Chief operating officer Allen Law said that over the next few years, the company plans to acquire 10 or more hotels in the Asia-Pacific region. Emphasis will be placed on Japan, and the group is negotiating to acquire hotels in a number of locations.

New Peninsula Hotel set for Paris The Hong Kong and Shanghai Hotels, Limited (HSH) has purchased a 20% interest in a subsidiary of Qatari Diar real estate investment company, which owns the building that currently houses the Centre International de Conferences on Avenue Kleber, Paris, France, for €100m (£94m). HSH and Qatari Diar have agreed to re-develop this building into The Peninsula Paris hotel, which will subsequently be managed by a subsidiary of HSH for 30 years, with an automatic renewal of a further 20 years. The estimated total re-development project cost is €50m (£47m), and is expected to be financed through a combination of commercial borrowings and the resources of Qatari Diar and HSH in proportion to their respective shareholdings. Re-development of the hotel is scheduled to commence in the second quarter of 2009, following vacant possession of the building with completion expected by the end of the first quarter of 2012.

Mandarin Oriental sells stake in Macau hotel
Mandarin Oriental International Limited's wholly-owned subsidiary, Mandarin Oriental Holding Company Limited will sell its 50% interest in Mandarin Oriental, Macau to Sociedade de Turismo e Diversoes de Macau S. A for HK$1.6 billion (£150m) The Group's partner in the hotel, Shun Tak Holdings Limited will sell its 50% equity interest to STDM at the same time. Completion of the 416-bedroom hotel sale is expected by the end of May 2009. On completion of the sale, the hotel will be rebranded by STDM, but Mandarin Oriental Hotel group will continue to manage the hotel for a period of up to two years to ensure a smooth transition of operations to the new owner.

By Gemma Sharkey

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