W Hotels expand in ThailandStarwood Hotels & Resorts Worldwide is expanding its portfolio of W Hotels with a plan to launch its second hotel in Thailand, the W Bangkok in 2011. The 400-room hotel will be located on the former Russian Embassy site in a mixed-use development comprising 70,000sq m of grade A office space, luxury boutiques and shops. The W Hotels brand portfolio includes 21 properties worldwide, including the W Retreat & Residences, Koh Samui.
Japan Leisure Hotels goes public
Japan Leisure Hotels is to float on the Alternative Investment Market to raise £100m. On admission the company will acquire a portfolio of five leisure hotels operating under the ‘Bonita' brand, independently valued at approximately £21m, as well as additional hotels. The booming Japanese leisure hotel market sees visits from some 2% of the adult population on an average day, and is estimated to have annual gross revenue of more than £16.5b.
London & Regional move into Monaco
London & Regional has acquired its first property in Monaco. The private property firm bought the Fairmont hotel for £210m from joint owners HBOS, Saudi investor Prince Alwaleed and the Fairmont Chain, which manages London's Savoy Hotel. The 619-room hotel, currently undergoing a £30m renovation, is sited on the famous hairpin bend on the Grand Prix circuit. London & Regional currently has interests in more than 40 hotels around the world and is one of Europe's largest private hotel owners.
Hilton Hotels' Iceland debut
By Dee Rossi
E-mail your comments to Dee Rossi here.