Hilton Worldwide and Rim Hospitality has announced the opening of DoubleTree by Hilton Los Angeles Downtown, the latest Los Angeles-area property in the Hilton Worldwide portfolio. With the majority of its multimillion-dollar renovation near completion, the former Kyoto Grand Hotel and Gardens is now the DoubleTree by Hilton Los Angeles Downtown as it debuts its refreshed Japanese-inspired rooftop garden, the hotel’s signature outdoor event and meeting space. The DoubleTree by Hilton Los Angeles Downtown’s renovation includes significant design and service upgrades to the hotel’s 434 guestrooms and suites, public spaces and corridors, indoor and outdoor meeting and event spaces, business and fitness centres, and its half-acre rooftop Japanese-style gardens. The look and feel of the renovated areas captures the dynamic energy and essence of downtown Los Angeles through contemporary design elements and vibrant colour combinations.
Guests at DoubleTree by Hilton Los Angeles Downtown will be delighted by the soothing earth tones present in new carpet and wall treatments. Additional changes to the guestrooms include the Sweet Dreams bed; 42” flat screen LCD televisions; ergonomic work desks and chairs; and high-speed internet access upgrades that provide business travellers with comfortable and efficient in-room working environments. Significant updates to guest bathrooms include new wall treatments, granite countertops, custom-made vanity tables, and refreshing Crabtree & Evelyn Citron bath and body products.
A significant investment in gardening and landscaping updates to the hotel’s half-acre gardens has returned the site to its original splendour as a peaceful outdoor oasis. Now called the Kyoto Gardens as tribute to the hotel’s former name, the gardens are one of Southern California’s most sought-after social spaces for weddings, receptions, and galas as well as corporate retreats and events. The gardens also present one of the most stunning views of the downtown Los Angeles skyline.
The DoubleTree by Hilton Downtown Los Angeles also features 15,000 sq. ft. of flexible conference space for conventions, business meetings, banquets, romantic weddings and social events, including the largest meeting room at 4,212 sq. ft., which can accommodate up to 650guests. The hotel offers a 24-hour self-service business centre and complimentary printing service that includes print-from-your room convenience. For guests who wish to keep up with their workout program while travelling at the DoubleTree by Hilton Downtown Los Angeles, a 24-hour state-of-the-art fitness facility is now available.
The contemporary Azalea Restaurant has been redesigned to feature Asian-inspired California cuisine based on locally sourced and seasonal foods, offering guests freshly prepared favourites ranging from crisp salads to hearty sandwiches to grilled fish and chicken. The hotel also serves the brand’s signature Wake Up DoubleTree Breakfast, which includes hot entrees and healthy options to start the day right. Guests can also unwind with a fine selection of refreshing cocktails in the chic atrium of the Rendezvous Lounge and room service also is available during peak dining hours.
Hilton Hotels & Resorts celebrates the official opening of its new landmark hotel, Hilton London Wembley, just days before the start of one of the biggest sporting events in U.K. history. With plans to transform the area into one of the most thriving parts of the capital, for sport, entertainment and architectural excellence, the opening marks a major milestone in the regeneration of the area. Situated directly opposite Wembley Stadium, the 361-room hotel is a striking design-lead property indicative of the iconic events of 2012. Playing on its inherently British location, design features include an eye-catching two-floor feature wall depicting the greatest events in the history of Wembley Stadium and a custom made art installation displaying a sequence of hand-painted porcelain plates following and illustrating the route of the River Thames.
The design of Hilton London Wembley embodies the spirit of Britain through its design and artistic vision. The history and heritage of its location is embraced through every facet, from the open plan ground floor lobby, with its Union Jack motif rugs, to the ninth floor roof bar with its spectacular outdoor terrace and unparalleled views of Wembley Stadium. With both form and function at its heart, Hilton London Wembley offers dynamic and flexible public spaces punctuated by British design elements and patriotic flare.
Wembley City is one of the U.K.’s largest redevelopment schemes, with over one million square feet of construction underway across the area. Quintain, responsible for the regeneration, is transforming 85 acres of former exhibitions lands around Wembley Stadium, which will include a new 280,000 sq ft retail destination – The London Designer Outlet – offering high street and designer brands, as well as a dynamic restaurant and leisure scene.
With architecture and interior design by The Manser Practice, the 281,650 square foot Hilton London Wembley includes 18 suites, a 660-capacity ballroom, 10 state-of-the-art meeting rooms, business centre, boardroom, executive lounge, 200 on-site parking spaces and a full-equipped LivingWell Health Club, complete with 12-metre pool, sauna, steam room, whirlpool and 24-hour gym for hotel guests.
Guests can enjoy spectacular views over Wembley Stadium, Wembley Arena and Wembley Way from the ninth floor roof bar, Sky Bar 9. Its spacious outdoor terrace for up to 150 people is also available for private hire, offering a unique venue for events and private functions. The hotel restaurant, aptly named The Association, seats up to 280 guests and offers a hearty modern-British menu, while the stylish Icons bar is ideal for afternoon tea, a light snack or post dinner cocktail.
The final update ahead of the Games from TravelClick
Just two days before the Olympics opening ceremony, London hotel bookings are looking healthy with committed occupancy currently at an average of 80.4% over the Olympics period.The busiest night in the Capital so far during the Olympics is now Tuesday 31 July, which currently has a committed occupancy of 85.8%. With the men’s road cycling individual time trial final taking place the next day, it seems that the ‘Wiggins effect’ is continuing into the Olympic Games as he aims to add Olympic Gold to his 2012 achievements.
Hotel prices during the Games are up an average of 70% on the same time last year and reach a high of £193 on the night of Sunday 5 August* – the night of the men’s 100m final where we’re hoping to see a record breaking sprint from Usain Bolt.
There is no need to spoil the look of a formal lounge with a large flat screen television, just hide it away. The bespoke cabinets shown here have been designed, created and installed to the exact requirements of a private client in Buckinghamshire. The lounge cabinet houses the client’s collection of artworks and rare books with the TV hidden behind rising doors with faux books. The painted unit in the ‘snug’ which is the room next to the lounge contains books, CDs, DVDs, XBox and of course a large TV.
Bespoke cabinets can be designed to suit any requirements with many different finishes for domestic or commercial projects.
Hotel prices across London have soared to an average £189 over the Olympics period – currently close to a 70% increase in average daily rate (ADR) in comparison to the same time period last year.
With just 11 days until the 2012 Games begin, rates and occupancy have fluctuated as we get closer to opening ceremonies.In the latest report of reservations currently on the books, leading hotel market intelligence provider, TravelClick, has revealed hoteliers are enjoying strong demand in comparison to market data from the previous year over the two week Games period (Jul 27-Aug 12).
At the time of this report committed occupancy across the capital shows rooms currently reserved for the Olympics stands at 77%, an increase of over 40% with a slight decrease possibly due to recent returns of rooms by Games organisers LOCOG, resulting in late bargains at selected hotels.
The busiest day in the Capital so far during the Olympics is Saturday, August 4, coinciding with the Women’s 50m Freestyle and 4x100m Medley Relay finals, as well as the Men’s 1500m Freestyle and 4x100m Medley Relay finals. Occupancy for this date is at 82.3% based on current reservations on the books in comparison to last year.
Editor’s note: The CitizenM Bankside which opened at the beginning of July has said that they will not increase their prices for the period covering the Olympic games. Prices range from £99 – £199 per room per night.
Another article which may be of interest to you is the following:
Olympic Accommodation From £85 A Night at Tune Hotel King’s Cross Or £525 A Night at St Pancras Renaissance Hotel – Which Would You Choose?
Tune Hotel King’s Cross, London (which opened on the 9th July) is offering guests travelling to the Olympic Games, accommodation from just £85 per room, per night. This is in stark contrast to the St Pancras Renaissance Hotel located just 650 metres away, where rooms are priced at £525 a night*.
The small price tag and whopping £440 saving doesn’t ultimately mean guests compromise on quality. Tune Hotel King’s Cross offers space‐efficient, streamlined rooms focusing on high‐quality basics: five-star Hypnos beds, power showers, air conditioned rooms, a clean environment and 24 hour security.
Tune Hotel King’s Cross is ideally located on Gray’s Inn Road, just 500 metres from King’s Cross and St Pancras train stations. Formally Swinton House, the building features 217 bedrooms including twin, double and accessible rooms, with and without windows. Guests can also relax in the large reception area where light refreshments are served.
Similar savings can also be made at any one of Tune’s three other centrally located London hotels, where accommodation starts from £99 a night. Why not swap the Andaz Hotel Liverpool Street at £390 for Tune Hotel Liverpool Street, The Hempel at £349 for Tune Hotel Paddington or The Savoy at £595 for Tune Hotel Westminster. The savings to be had are substantial.
When visiting London how much time do guests really spend in their hotel room? The city is brimming with attractions and if you’re here for the Olympics spending time in the Olympic stadium, Greenwich or Excel is sure to be more favourable than sitting in a hotel room. Tune Hotels offers value, quality and can save visitors a considerable amount of money.
Bedrooms without windows start from £85 a night at Tune Hotel King’s Cross during the Olympics. Bedrooms without windows at Tune Hotel Liverpool Street, Westminster and Paddington start at £99 a night, during the same period.
Through the successful ‘pay as you use’ concept, Tune Hotel guests pay only for their room allowing them the ultimate flexibility to pay extra for the services and facilities that are important to them.
*Prices quoted for the St Pancras Renaissance Hotel, Andaz Hotel Liverpool Street and The Hempel is based on a one night stay on Sunday 29th July 2012, for two people sharing. The Savoy price quoted is based on a one night stay on Tuesday 31st July 2012. Rates were taken from the hotel’s website and were correct as of 10am Monday 9th July 2012.
Dawnvale are proud to announce their involvement with G&G Goodfellows on the launch of their exciting new venture in central London.
In association with Paul & Valda Goodfellow, former owners of a well-known distribution company, Dawnvale are proud to have been chosen for the key association of the new central London showroom located at an award winning Michelin starred Restaurant building.G&G Goodfellows offer a highly personalised and bespoke – product service to the Hotel and Catering industry. As exclusive suppliers, the showroom features market leading and innovative products from some of the World’s leading brands.
‘’We intend to go back to our roots of providing a highly personalised service and supplying the best brands in tableware, clothing, technology & specialist product areas; to those professionals who are looking for individuality & innovation’’.
Goodfellows are delighted to have been chosen by De Berkel as the new distributor in the UK for their highly respected clothing range. ‘’We have assembled a tantalising collection of niche tableware brands, along with our ‘Atelier de Table’ & ‘Concepts’ services which will offer bespoke-produced products and solutions’’.
The showrooms unique setting provided Dawnvale’s group divisions to play an integral part creating the slick environment, from the bespoke bar through to full interior fit out of the unique space. The feature VIP Champagne booth and London furniture collection, designed and manufactured through the companies own contract division; plays backdrop to showcase the best brands in tableware, clothing, technology and specialist product areas.
Having been chosen by De Berkel as the new distributor in the UK for their highly respected clothing range, Goodfellows have assembled a tantalising collection of niche tableware brands, along with our ‘Atelier de Table’ & ‘Concepts’ services which will offer bespoke-produced products and solutions.
As well as providing exceptional hospitality environments for some of the UK’s leading designers and premier operators, Dawnvale boast specialist teams with an all encompassing knowledge and service for both front and back of house requirements.
From our London and Manchester locations, our teams cater for bar, club, restaurant and hotel projects.
Sterling lost ground against euro yesterday having breached the 1.2860 psychological level over the weekend – despite fresh revelations regarding regional pressures on the Spanish economy. The session saw an early high of 1.2878 and a low of 1.2796.GBPUSD continued to fall in line with movement from Friday’s session, opening at the high of 1.5608 but receding to a low of 1.5485. USD barely reacted to the Fed’s purchase of Treasury securities in an extension of Operation Twist.
The Bank of England (BoE) cut its corporate bond holding in its asset purchase facility in the second quarter of 2012 by almost a third to £240m.
Surveys by Markit and Experian said the financial prospect for both UK households and businesses are improving. Manufacturing trade body the EEF said “the sector’s suffering will deepen this year”. ________________________________________
WORLDWIDE
EURUSD was somewhat stable in comparison to the other majors with a high of 1.2136 and a low of 1.2067.
The euro sank to a 10 year low against JPY and is expected to keep falling as Spanish debt problems compound European debt concerns.
Spanish bond yields continue to rise as grave concerns over the financial health of Spanish regions intensify, increasing the likelihood the country will need a sovereign bailout.
Ratings agency Moody’s yesterday lowered credit outlooks for Germany, The Netherlands and Luxembourg from “stable” to “negative” in a clear warning that no economy is safe from the fall out of the Greek financial crisis. These three nations in particular are held to ransom by the need to pay out for further Spanish and Italian bailouts.
Adding to their woes Spain’s National Bank confirmed economic output shrank by 0.4% in Q2 after a 0.3% drop in Q1.
Consumer Confidence in the Eurozone fell in July from -19.8 to -21.6 where a reading of -20.0 was expected.
Today auditors from the troika of Greek creditors are expected in Athens to decide if Greece will receive its next loan of €31.5 billion by September.
Reserve Bank of Australia (RBA) governor Glenn Stevens gave little away about the outlook for interest rates this morning, simply stating settings are “about right”. Some economists still further rate cuts in August, eyes will be on key inflation data due on Wednesday.
Anglo Holt Construction has secured its largest ever project with hotel giants Travelodge, it was announced recently.
West Bromwich-based Anglo Holt has been awarded the contract by clients Merchant Place Developments to build the 219-bedroom Travelodge at Eastern Gate, in Cambridge, which has a project value of around £9 million.The Charities Property Fund has provided forward funding for the project. The design and construction deal extends the company’s successful 12-year partnership with Travelodge, which has seen it complete 54 hotels, with a further eight contracts currently in progress, worth a total of more than £200.5 million.
The new hotel will have a bar café and basement car park. Built on a brownfield site, the six-storey reinforced concrete and timber frame building will have a one MW photovoltaic installation on its roof. Work on the 51-week project is due to be completed in April 2013.
The 62 UK Travelodge hotels, as far afield as Fort William in the north and Paignton in the south, include 5,536 bedrooms. The average contract length is 29 weeks, with an average value of £3 million. Contracts worth a total of £31.4 million currently in progress include Eastleigh, Epsom, St Helen’s, Wincanton, Poole, Fort William, Woolwich and Vauxhall, London. The previous largest individual contract was the building of the £7.5 million, 201-bed Travelodge at Manchester Airport, closely followed by a 200-bed hotel at Birmingham International Airport.
Significant projects recently completed include Birmingham’s largest Travelodge, which is part of the £45 million mixed-use scheme in Upper Dean Street, a key regeneration area identified in Birmingham City Council’s Big City Plan.
After last week’s much improved employment situation in the UK and also the inflation figure falling to 2.4%, this combination of surprising improvements provides a much brighter overall economic situation. Given the recent turn of events perhaps another surprise could come in the Q2 GDP release on Wednesday which is expected to show the UK is still in recession.Public Sector Net Borrowing excluding financial sector interventions stood at £14.447bn in June, up from £13.919bn in the same month a year earlier, compared with the median forecast of £13.2bn.
GBPEUR started the day at the low of 1.2786 but quickly moved towards the psychological level of Oct 2008’s highs at 1.2868 before finding resistance at 1.2866. During the weekend it has broken to a new high of 1.2891 but has settled down to around 1.2860 again this morning.
GBPUSD also started positively at 1.5694 but failed to break 1.57 confidently as the dollar strengthened, moving to the low of the day at 1.5623 as the risk??’off plunge continues. This morning markets have moved to around 1.5560 and the pair may test support levels at 1.5530 today.
The change in the asking price of homes for sale in the UK dropped to -1.7% compared to last month release of 1% and May’s 0.0%. ________________________________________
WORLDWIDE
The euro continued to fall against major counterparts on Friday as the formal approval of Spain’s bank bailout by Eurozone finance ministers offered it little relief after the Spanish Valencia region said it will seek central government help to repay its debt.
EURUSD broke below the 1.22 mark at the beginning of the New York session and hit a fresh 2 year low of 1.2145. We have opened up this morning after moving through a number of support levels and currently trade at a low of 1.2085.
The 10-year Spanish bond yield climbed 28 basis points (bps) to 7.309% of Friday, crossing the psychologically crucial 7% mark for the first time in more than a week. This morning we have seen it continue to increase, hitting levels of 7.55%.
Gerda Hasselfeldt, floor leader of Christian Social Union, has been quoted as saying that the party would reject any efforts by Greece to ease its’ bailout terms. The official said “What’s clear for us in the CSU is that we cannot support any move to renegotiate the substance or timeframe for those conditions” adding “If a country is not in a position to fulfil its obligations or is unwilling to, then it must leave the Eurozone”.
The euro slid to the lowest level since 2000 versus the yen on concern the region’s crisis is far from being resolved even after officials agreed on an aid package for Spain’s banks. Japanese Vice Finance minister repeated that he is ready to take decisive action to intervene in the currency markets. The Yen also moved against the Pound from 123.29 to a low of 122.63.
US stocks opened sharply lower on Friday snapping 3 days of gains, as risk aversion surged amid Eurozone woes.
Asian currencies had a second weekly advance on speculation the US and China will adjust policies to revive the world’s two biggest economies, boosting demand for riskier assets.
Early this morning Australian PPI came in higher than expected this morning and GBPAUD moved from 1.5026 up to 1.5110 immediately after the news.
The University of Creative Arts in Farnham prides itself on helping develop some of the best young talent in the Art and Film world.Thought provoking
The “Allysa Art Deco Mirror” seems to be in perfect harmony with the elegant statue in the University Gardens; the light seems to ripple off the sharp edge of the cut bevelled glass.
Mirrors like this can be made in any size thus giving you, the designer, the chance to create a big impression.
Modern Styles
The “Celine Mirror” is often a hard mirror to find a home for, with its modern contemporary lines it will only fit into the most striking of surroundings.
The amazing modern art in the Gardens at the UCA show off how, in the right room with the right decor how the “Celine Mirror” stands apart.
10 years after its launch, “ILBAGNOALESSI One” by swiss bathroom manufacturer Laufen, created in collaboration with “Italian design factory” Alessi and designed by Stefano Giovannoni, has become a real bathroom classic. Today’s collection sees the introduction of new ceramic designs and a complete new furniture range as well as brassware. “ILBAGNOALESSI One” by Laufen was launched in 2002 and immediately got a strikingly warm reception from both the public and the media standing out as one of industry’s most innovative design collections. Some of its elements have become real “icons” like the Tam Tam floorstanding washbasin and the drop-shaped WC.
Explaining the idea behind the latest products that complement the range, Giovannoni comments: “I felt a great desire to find out how much potential can still be tapped in this successful collection – and what Laufen is capable of achieving with its state-of-the-art ceramic technology.”
The original “ILBAGNOALESSI One” Laufen collection focused on the appeal of each product, rather than covering a wide range of styles. After almost ten years, this collection has been developed to create new design classics, more sophisticated and more related to contract projects and equipped to address a wide range of specific requirements. The new semi-recessed and counter-top basins are larger than the original ones and brand new products stand out for their strong and innovative design, such as the Tuna basin and a new set of Tam Tams as well as new electronic brassware.
What makes the design of Laufen’s “ILBAGNOALESSI One” so timeless and yet still up-to-date is that from the very beginning the aesthetics of the collection has been characterised by unmistakable shapes with a remarkable identity. Giovannoni explains: “They derive from nature itself and are anchored deeply in the collective subconscious of mankind – like the idea of white stone polished by water. The products do not distinguish themselves by their details, but by their strength, the clarity of their concept and by their primal forms, transmitting a message of purity and expressiveness.
“ILBAGNOALESSI One” can be considered as a timeless archetype, fashionable and yet not following any particular style, like something created by nature itself.”
Four Seasons Hotels and Resorts has signed a long term management agreement with the owners of Bilila Lodge, a resort in the Serengeti National Park, and is now operating the property, which will be upgraded and renamed Four Seasons Safari Lodge Serengeti, Tanzania in Autumn 2012.“We have long wanted to expand into Sub-Saharan Africa and offer new outdoor adventure experiences to our guests,” says Kathleen Taylor, president and CEO, Four Seasons Hotels and Resorts. “Now, we’re thrilled to have an outstanding location and partners who share our vision to create a world class lodge like no other in the heart of Africa’s finest safari region.”
Four Seasons veteran James Kostecky has been appointed General Manager as the property transitions to Four Seasons Safari Lodge Serengeti. Most recently General Manager at Four Seasons Resort Chiang Mai and Four Seasons Tented Camp Golden Triangle in Thailand, he has previous experience in Kenya with a hotel group based in Nairobi.
“It’s great to be back in Africa, where each day brings a new wonder,” says Kostecky, an avid photographer with a keen sense of adventure. “This Lodge will be an excellent opportunity for first time safari travellers, families and groups to experience the natural beauty, astounding wildlife and fascinating culture of the Serengeti.
Once more, Hill Cross Furniture is proud to play a part in the London 2012 Olympic Games which commences on the 27th July 2012. Working alongside Penhaligon Event Consultants, Hill Cross has been completing the quick turnaround of various corporate lounge sites. White upholstery and white laminate table tops dominate the theme throughout the lounge venues. Corporate colours of the individual sponsors personalise each separate venue from bold orange polypropylene tub chairs (EDF Energy) to striking green fixed seating (Lloyds TSB).
The EDF Energy lounge has been furnished incorporating 13 meters of straight banquette seating. Each individual section of the seating has been precisely measured and designed lining each join of the seating accurately to each table. The seating is upholstered in a stunning Jasmine white faux leather, matched with the simple Lia side chairs with chrome legs, completed finally with premium white laminate table tops.
Various loose seating furnish the space, from the shapely square frame of the fully upholstered Verona tub chair (Jasmine white, of course) to the cube low stool in a daring and EDF-appropriate ‘paint pot orange’. The ultra modern Gliss tub chair will be also be making a statement in a transparent orange with chrome skids.
Feature seating in a corporate bottle green is spotted through the LLoyds TSB Olympic Lounge. Floating button banquette seating will line the walls of the venue, while a large deep buttoned back to back bench sofa with bolster cushion, a grand 3 meters by 2 meters dominates the centre space of the lounge. Valentina side chairs finish the space upholstered in a vanilla fabric.
Other venues yet to be announced are underway. From arrow head banquette seating booths precisely designed and manufactured using the CNC machine due to their complex shape, to various loose seating in shades of white and chrome, the venues truly are coming together thick and fast in preparation for this huge event.
It is not the first time Hill Cross furniture has supplied furniture for Olympic events. In October 2008, Hill Cross furniture furnished the International Olympic Committee lounge at the winter Olympics in Turin. With the 2012 London Olympics just around the corner we are proud to be part once again of such a prestigious event.
“May you live in interesting times”, runs the ancient Chinese curse. Certainly, times don’t get much more “interesting” than they are today. On one hand, we have political instability across most, if not all, the world’s continents, sovereign debt crises in the Eurozone, policies of cheap money maintained by many nations, and a slowdown, if not stagnation, of global recovery.All significant contributing factors to the increase in exchange rate volatility amongst major currencies – identified as one of the top four risks to growth in the most recent PWC Annual Global CEO survey.
On the other hand, according to the same survey, 45% of CEO’s believe that the world will become more open to free international trade, and 56% think it will be more open to cross border capital flows.
Volatility threatens margins
Any business that has customers, suppliers, assets or part of its organisation or supply chain abroad is inevitably exposed to risk of exchange rate volatility and its corresponding impact on margins.
As the appetite for, and amount of, international trade continues to grow, it can only become even more competitive. The greater the amounts involved, and the lower the margins, the bigger the impact of even small currency fluctuations.
So it’s essential that businesses understand the impact of their currency transactions on those margins and take steps to manage them as effectively as possible.
Strategy first
At IFX we believe that it is impossible to predict the future movements of currency markets with any degree of accuracy, and irresponsible to try.
The needs of any business – regardless of its size or sector – is best served by a strategic rather than a purely tactical approach.
For the many businesses that lack the necessary expertise and operational capability to manage this themselves, the services of a specialist foreign exchange consultancy can be invaluable.
A reputable consultancy will focus not just on the transactions themselves but also on helping clients understand their risk exposure and mitigate that risk at the earliest opportunity.
They will take time to understand their clients’ businesses, needs and concerns, and monitor the relevant currencies and markets on each their behalf – as well as the events, trends, and developments that could impact on them.
Rather than focus purely on obtaining the best rate, they will provide advice and guidance on the optimal timing for their clients’ transactions, and the most advantageous contract for the needs of their businesses.
Mitigate risk, maximise benefit, minimise cost
Strategy in place, a consultant will also be able to add consistent value at the execution phase.
They will be able to execute currency transactions faster and with less risk than their clients could alone. They’ll also provide access to better exchange rates and lower fees and commission charges than are available through more traditional channels.
As a result, they can make the process easier, safer and, in the face of ever-growing pressure on margins, significantly more cost effective.
IFX is one of the world’s fastest-growing specialist foreign exchange consultancies, serving a growing spread of corporate and private clients throughout the UK, Europe, the US and Australasia. IFX is committed to conducting its business with the highest level of integrity, and stringently observes the compliance and reporting regulations of every jurisdiction in which it is active in order to protect the company and its customers.
Accor Greater China has announced that the group has signed 31 new contracts since the start of 2012. The contracts include 1 Sofitel, 9 Pullman, 5 Mei Jue (Grand Mercure), 1 Novotel as well as 15 ibis projects, thus adding 6,572 new rooms. In all, Accor’s development pipeline in China exceeds 90 new hotels committed, and further manifests Accor’s sound momentum in both the upscale and the economy hotel markets. The Pullman, Mei Jue and ibis hotel brands have experienced the strongest demand so far his year and most of these new contracts are being established in Tier 2 and Tier 3 cities, in line with the group’s overall expansion strategy, which looks also beyond the main cities in the country.
This includes hotels such as Pullman Zhoushan Seaview, a 22-storey hotel with sea views for all guest rooms, to open in 2015. The hotel is located in China’s only prefecture-level city consisting solely of islands. The destination is included in the priority group of coastal economic developing cities.
After a major re-engineering that tailored the Grand Mercure brand for the Chinese market announced in February, Mei Jue is meeting with support from developers in the country. One recent contract for the brand is the newly signed Mei Jue Foshan Changcheng, which is ideally situated in the centre of Foshan, in southern Guangdong Province. The brand’s first hotel committed in Foshan is of strategic importance for Accor, as the city is located in China’s most dynamic region and has become the third largest manufacturing base in the Pearl River Delta.
“Accor has had a solid start to 2012 in Greater China, which has seen the debut of the tailor made Mei Jue hotel brand as well as robust expansion”, says Michael Issenberg, Chairman and Chief Operating Officer for Accor Asia-Pacific. “There is a sense of recalibration in the Chinese economy, resulting in the distribution of growth spreading to new economic centers and opening fresh opportunities for Accor. Accor has anchored its presence in the key cities of China and deployed an extensive brand portfolio which has helped build its reputation, making the move beyond Tier 2 and into Tier 3 cities easier.”
“In the economy hotel segment, Accor’s ibis hotel brand has enjoyed a strong start to the year with 15 new projects committed,” says Mr. Wayne Li, Vice President of Development for the ibis brand in China, says. “We are receiving significant demand for new ibis projects under franchise in China and are able to select only the strongest propositions. Within this newly committed portfolio, seven of these projects are destined for Tier 2 and Tier 3 cities like Nantong, Quanzhou, Dandong and Leshan. These additions not only serve as proof of the robust economic growth in those cities, but also demonstrate the desire of investors and customers seeking out high quality products in the economy segment.”
Figures from the China Tourist Hotels’ Association suggest that the economy hotel segment now accounts for 30% of the Chinese mainland’s hotel industry and that the industry still expects huge development potential.
Accor, the world’s leading hotel operator and market leader in Europe, is present in 92 countries with more than 4,400 hotels and 530,000 rooms. Accor’s broad portfolio of hotel brands – Sofitel, Pullman, MGallery, Novotel, Suite Novotel, Mercure, Adagio, ibis, all seasons/ibis Styles, Etap Hotel/Formule 1/ibis budget, hotelF1 and Motel 6 – provide an extensive offer from luxury to budget. With more than 180,000 employees* in Accor brand hotels worldwide, the Group offers to its clients and partners nearly 45 years of know-how and expertise.
*Including 145,000 in owned, leased and managed hotels
Great Hotels of the World has expanded its portfolio with the addition of five properties from the Pride Hotels. Pride Hotel Ahmedabad, Pride Hotel Bangalore, Pride Hotel Kolkata, Pride Hotel Chennai and Pride Hotel Pune have all joined Great Hotels of the World’s corporate collection. Since June 2011, Great Hotels of the World has increased its hotel signups in Asia by 120%. The alliance will continue to place a strong focus on Asia as it stands as one of the world’s fastest growing markets in today’s current climate.
Pride Hotel Ahmedabad, Ahmedabad, India Pride Hotel Ahmedabad is a five-star luxury property situated in the heart of the elite business area of Satellite. Close to many of the city’s attractions and just 18km from Ahmedabad international airport, the property boasts 164 well-appointed rooms and suites, equipped with state-of-the-art technology. In addition, the hotel features seven meeting rooms of various sizes, with capacity for up to 1000 persons in its Imperial banqueting space.
Guests can enjoy two excellent restaurants: Casablanca, a fine dining restaurant serving international cuisine accompanied by live music, and Café Treat, a 24-hour café offering light meals and snacks. Other facilities include a business centre, gym, steam room, spa, jacuzzi and swimming pool.
Pride Hotel Bangalore, Bangalore, India Ideally situated in the heart of Bangalore’s city centre, Pride Hotel Bangalore is located within close vicinity of many tourist attractions such as the Vidhana Soudha, Cubbon Park and the Vishweshwaraya museum. The property is just 45 minutes from Bangalore international airport. With 100 contemporary bedrooms, the hotel offers all the modern comforts of a luxury property as well as a 24hr concierge service and airport transfer service.
Pride Hotel Bangalore features a business centre and five meeting rooms, accommodating from 10 to 200 delegates. Avant-garde fine dining can be enjoyed at Casablanca, the Resto Bar where guests can experience global cuisine and a warm ambience. Cafe Treat, a 24 hour coffee shop and Puran Da Dhaba, an authentic rooftop ethnic Indian Restaurant with live music, are amongst the other restaurants present at the property. A well equipped gym and a travel desk are also available.
Pride Hotel Chennai, Chennai, India Set in Chennai’s city centre, Pride Hotel Chennai is a four-star property which boasts 115 comfortable guestrooms and suites complete with state-of-the-art amenities. The hotel is located 18km from ANNA international airport. Featuring two meeting rooms, two banquet halls, a boardroom and a business centre, the hotel serves as an ideal venue for various events.
Pride Hotel Chennai also features a rooftop restaurant, Puran Da Dhaba, which serves authentic North Indian cuisine to reflect the traditional and rustic ambiance with live Indian music. Cafe Treat, a 24 hour coffee shop, and the Fuel Bar are also highly recommended for guests. An outdoor swimming pool and health club with a gym, massage rooms, jacuzzi and steam room complete the hotel’s facilities.
Pride Hotel Kolkata, Kolkata, India Having opened in January 2012, Pride Hotel Kolkata is a brand-new property set in the heart of Kolkata’s business centre. With easy access to Kolkata’s IT hub and just 7km from Kolkata’s international airport, the hotel offers guests traditional hospitality with modern comforts. The hotel comprises 153 guestrooms and suites. It offers 24-hour room service, business centre as well as four conference halls and two boardrooms.
Pride Hotel Kolkata boasts a lounge bar, a 24-hour coffee shop, a fitness centre, swimming pool and spa on site.
Pride Hotel Pune, Pune, India Pride Hotel Pune is one of the city’s leading five-star properties with an excellent central location. The hotel is also just a 20 minute drive from Lohegaon airport. The hotel comprises of 112 luxurious guestrooms and suites. In addition, five meeting rooms are at the disposal of guests for business events of all sizes, out of which one is outdoor. Furthermore, the business centre offers a meeting space, various services and secretarial assistance.
Guests can enjoy a wide variety of cuisine at the hotel’s three restaurants. Cuisine ranges from international and Punjabi dishes to seafood and grilled meat. After dark, the Xtasy Grill Room & Bar boasts a lively atmosphere with an array of refreshing drinks to choose from. Guests can also choose to visit the outdoor pool or health club, complete with a gym, sauna, steam room and jacuzzi or enjoy one of the various treatments on offer.
Centara Hotels & Resorts has signed a management contract for an existing resort hotel on Koh Samui that will operate under the “Centra” value brand with effect from 1 July 2012.The contract was signed with owner PDTS Company Limited on 5 June 2012.To be named Centra Coconut Beach Resort Samui, the property is located on Thong Tanote Beach and was originally known as Coconut Villa Resort & Spa.
“We are delighted to add this beautiful beachfront property to our Samui portfolio and thereby extend our Centra value brand to one of Thailand’s most popular tourism destinations,” says Thirayuth Chirathivat, chief executive officer of Centara Hotels & Resorts.”This is an intimately scaled hotel and fits perfectly into the brand.”
Centra Coconut Beach Resort has 55 guestrooms, with one all-day dining restaurant and two swimming pools.
The resort is located directly on secluded Thong Tanote Beach, on the south side of the island, with views across to Koh Tan and Koh Mutsum, both of which are renowned diving and snorkelling spots.
“To have our Centra value brand represented on Samui Island gives us a very sound marketing strategy there,” says Chris Bailey, senior vice president for sales and marketing at Centara Hotels & Resorts.”We are now able to offer three of our hotel brands on the island, which gives us a very strong marketing mix.”
The 24 Deluxe Pool Access guestrooms are spread through the tropical setting and feature sun decks to relax on the patio beside the swimming pool. The room size is approximately 37 sqm, including balcony. There are six Sea View Villas with a living space of 44sqm and one Beachfront Villa of 50sqm, each with a furnished terrace and a Jacuzzi in the bathroom.
The resort will feature Cense by Spa Cenvaree, Centara’s new spa value brand that offers a selection of core treatments for guests who want to look and feel good but who don’t require a full range of spa services.
Thai and international cuisines with an emphasis on fresh seafood are served at the beachfront restaurant, and there is also a beach bar and a pool bar.
One of the swimming pools is located at the beach, while the other is set like a canal running through the resort grounds.
Hotel Indigo has recently announced the opening of its second location in Atlanta in one of Georgia’s largest historic districts and just minutes from Hartsfield-Jackson International Airport.The hotel, located at 1776 Harvard Ave. in historic College Park, offers guests a unique hotel experience with a comfortable design that blends well with the surrounding neighbourhood. As unique as many of the area’s historic homes and buildings, the hotel offers guests the intimate service typically associated with boutique lodging along with the peace of mind and consistency expected from a large hotel group.
The 142-room, five-story hotel offers a warm and inviting environment with each room featuring a vibrant décor with touches of starbursts and turquoise. Vintage photographs of the neighbourhood can be found throughout the hotel that invite and inspire guests to explore the surrounding historic areas in the city of College Park. Common areas, including the reception area, are well furnished and reflect the region with layered marble brought in from Tate, the marble capital of Georgia.
The College Park neighbourhood has a small town feel where shops and restaurants are family owned and operated along College Park’s Main Street. The town’s architecture mimics the historic Georgia Military Academy founded in 1900 that is now home to Woodward Academy, one of the largest private schools in the nation.
The new hotel is reflective of its surroundings from the artwork on the wall to the menu at BlueGoose Bar and Kitchen, which serves breakfast, lunch and dinner in a casual environment. Guests can enjoy outdoor dining on the spacious patio and visit the exclusive wine and scotch bar that’s open nightly. Whether they’re visiting the restaurant or attending a function in one of the hotel’s two meeting rooms, guests will discover outstanding service provided by a staff that is courteous and intimately familiar with the surrounding area.
For business travellers, the new Hotel Indigo is within five miles of the headquarters of Delta Airlines, Chick-fil-A and AirTran Airways. It is also close to Federal Aviation Administration offices. Among the nearby attractions are the Georgia International Convention Center, the Georgia Aquarium, Six Flags Over Georgia and Turner Field.
The hotel offers free high-speed wired and wireless Internet access in guest rooms and public spaces, a 24-hour business centre and a fitness centre.
Reflective of the trend toward creature comforts with a smaller footprint, space-efficient guestrooms feature plush bedding, high-definition flat-screen TVs, iHome stations and spa-inspired showers with Aveda products. Hard surface flooring with area rugs create a fresh, residential feel.
Hotel Indigo Atlanta Airport College Park is owned and managed by College Park Hotels LLC under a license agreement with a company in the InterContinental Hotels Group.
Fameed Khalique, the expert in innovative and inspiring surface materials for the interior design industry introduces a ground-breaking collection from Kyle Bunting, redefining how hide is used in interior applications and adding an entirely new dimension to the trend for statement rugs. Khalique brings the company renowned for their luxury collection of decorative hide floor and wall-coverings, to the UK exclusively for the first time. Embracing the trend for rugs in bold colourways, high quality materials, interesting textures and patterns, Kyle Bunting rugs provide an objet d’art for the floor and wall, and a focal point for the room.
Kyle Bunting hide rugs and wall-coverings are among the finest in the world; made with hair-on-hide leather, their luxurious texture and sterling design have attracted international attention and successfully bring an entirely distinctive look to the home. Kyle Bunting uses a pioneering technique for his hide creations where no stitching is used; instead hides are fused onto a rubber backing, ensuring a seamless and flawless look whilst being incredibly versatile.
Sterling gained against the currencies of the U.S., Europe and Switzerland, reaching new highs not seen since October 2008 against the Euro and a 17 month high against the Swiss Franc.Sterling reached a high of 1.2834 despite having followed the EUR upside on EFSF rumours, the EU’s official rejection of those talks didn’t trigger a retracement unlike in the Euro. At the time of write GBPEUR is at 1.2793
Aginst the CHF, sterling a high of 1.5408 having climbed up from a high of 1.5296 on the back of risk reversal away from the safe haven currencies.
U.K. retail sales disappointed for June up by 0.1% from May and by 1.6% from the previous year, coming in lower than analysts’ respective growth forecasts of 0.5% and 2.2%. ________________________________________
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The GBPUSD rally that saw it break the psychological 1.57 level ahead of the US jobless claims data wasn’t retracted by the weak figures and has continued to stay above the 1.57 level. GBPUSD reached a high of 1.5721, up from 1.5646 at the start of the session.
EURUSD initially managed to hit a week high of 1.2320 on the back of rumours of a EFSF rumour before retracting to hit a session low of 1.2232. EURUSD is currently trading at 1.2274 With tight supplies of affordable homes limiting first-time buyers in the US, the NAR released a report showing an unexpected drop in existing home sales last month. They fell 5.4% to an annual rate of 4.37 million in June from an upwardly revised 4.62 million in May.
After reporting a notable drop in first time claims for U.S. unemployment benefits last week, the Labor Department released a report showing that initial jobless claims rebounded by more than anticipated in the week ended July 14th. They said jobless claims jumped to 386,000 from the previous week’s revised figure of 352,000 Manufacturing firms in the Philadelphia area continued to report weak business conditions in July. While the Philly Fed said its diffusion index of current activity rose to a negative 12.9 in July from a negative 16.6 in June, a negative reading points to a continued contraction in manufacturing activity.
The European Commission that the 100 billion euro rescue fund destined for Spain are to be solely used for the recapitalization of the countries distressed banks. Putting a stop to rumours that earlier in the day that the money could be earmarked for other needs as well.
Spain’s cost of borrowing soared with The Spanish Benchmark 10-yr yield jumping back above 7%, suggesting that despite the respite provided by the latest round of quantitive easing there is still poor demand for Spanish debt.
French yields declined as investors dumped the peripheral nation’s debt in their flight to the perceived safety of the French debt. The five-year paper in particular fetched a record low of 0.86%
Business conditions in Australia weakened in the June quarter, partly reflecting weak demand both at home and abroad. NAB said that its business conditions index fell to -1 in the second quarter from 3 in the previous 3 months.
Hillswood have recently completed a new restaurant at the Holiday Inn Express T5 following a large bedroom extension, making this Holiday Inn Express the largest in Europe with over 300 bedrooms. Hillswood submitted a special stain colour on all the chairs to match one of the upholstery colours. The fixed seating was supplied with three different back heights to suit the particular areas of the restaurant. All the seating had fully sprung seats with solid beech frames making the seating extremely strong and comfortable.
Hillswood worked closely with RSD Interiors, the designers, and also liaised directly with the owners to ensure that the whole project ran to budget and time.
Click here to contact Hillswood Furniture in the Directory
The British made Aquaduct drain covers combine art and functionality, adding a designer finish to any bathroom or wetroom. The mirror finish stainless steel drain covers are available from Marmox in a range of Style, Contemporary and Modern, totalling 12 standard designs. In addition Marmox is offering a bespoke design service allowing leisure clubs or hotels to build their branding into the shower areas.”Until now interior designers have been very limited in the finished look of their bathrooms and wetrooms. Bringing the Aquaduct beautifully engineered and elegantly designed drain grills to market enables us to offer our customers much more choice than before. We are very much looking forward to the opportunities it will open up,” commented Sarah Viney, Managing Director at Marmox UK.
John Harte of Aqua Innovations had this to say; “Aquaduct are delighted to team up with Marmox, renowned for their innovative and high quality products, to provide a shared vision for the wetroom and shower market. With our unique synergy, we will be able to provide a top quality finish to bathrooms and wetrooms around the UK. We are excited that Marmox, as the new Aquaduct distributor, will be able to offer a new customer base for our designer products.”
Marmox launched the new drain covers on 16th July when standard designs will be available from stock, direct from Marmox UK. Bespoke designs will be available upon request.
Only two of the nine members of the Bank of England’s policy panel voted against additional monetary stimulus at July’s meeting, arguing that the raft of measures put in place by the UK’s lender of last resort were sufficient to support the economy. The pound weakened against the euro and the dollar after Bank of England policy makers said they may reconsider the case for an interest-rate cut after assessing the impact of new measures on the economy.
An unexpected drop in UK unemployment boosted the UK stock market on Wednesday. The FTSE was up 0.1% at 5633.33. The index was lifted by the UK unemployment rate dropping to 8.1% for the three-month period ending in May 2012, down 0.2% from the previous period, and better than analyst’s expectations of an 8.2% level.
GBPEUR was a fairly volatile pairing through yesterday’s trading hitting a high of 1.2771 from a low of 1.2708. GBPUSD traded as high as 1.5668 and hit a session’s low of 1.5581. Minutes released from the MPC indicated that the bank may discuss reducing its benchmark rate to below 0.50%, but no for several months. The Eurozone financial crisis and slowing global demand are hurting growth in the UK, the BOE said Wednesday in the minutes of its July 4-5 meeting, and these symptoms could also trigger higher unemployment in the coming months as UK exports weaken.
UK inflation slowed to 2.4% in June, and the MPC said it is likely to be lower than the bank’s forecast in the near term. ________________________________________
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The US economy expanded at a moderate pace in June and early July but the jobs market showed only small gains, the Fed said in a report released last night. The economy expanded at a moderate pace in the central banks 12 districts the Fed published in last night’s beige book. The labor market appeared to show more weakness since the last report, with employment levels growing at a “tepid pace” in most districts, the report stated.
Spain’s housing market continued to weaken in the second quarter, with prices declining 8.3% year-on-year, a government report showed Wednesday. Compared with the first quarter, Spain’s housing price index fell 2.5%.
Housing starts in the US. climbed to its fastest rate in June since October 2008, signalling that the residential housing construction market may be picking up. The number of privately-owned housing starts grew 6.9% to a seasonally adjusted annual rate of 760,000 in June, following 711,000 housing starts in May that was upwardly revised from 708,000 originally reported.
German Chancellor Angela Merkel Wednesday said that despite the on-going difficulties she remains optimistic that rescuing the euro can succeed. Ms Merkel reiterated recent comments that Germany will emerge stronger from the crisis, but warned the country was no island and that Europe’s largest economy cannot do well if the rest of the region is in recession.
Business conditions in Australia weakened in the June quarter, partly reflecting weak demand both at home and abroad. Confidence fell for a second consecutive quarter, despite the central bank’s interest rate cuts since November last year.
Belgium will meet its European Union target of a budget deficit of 2.8% of gross domestic product this year, and balance it by 2015, the country’s prime minister said Wednesday, setting out the government’s latest budget review and measures to spur economic growth.
An auction of German two-year notes today drew a negative yield for the first time as investors sought the safety of Europe’s benchmark government debt as a haven from the financial turmoil in the 17-nation currency bloc.
Swiss investor confidence saw a small boost in July, but still overall negative. The Credit Suisse ZEW survey for expectations was reported at -42.5%, versus -43.4% in June. However, the survey for current economic situation dropped from 19.7% to 18.4% in July. Swiss Franc dropped against the US Dollar following the survey, falling in line with dips in other risk-correlated currencies.
South Africa’s annual inflation rate in June dropped below economists’ expectations, data showed Wednesday, likely giving the reserve bank further room to focus on tepid growth rates.
Canada’s dollar erased losses against its US. counterpart after the Bank of Canada said in its monetary policy report that consumers and business investment will lead modest economic growth through 2014, while weaker global demand curbs exports. The central bank reiterated the next move in interest rates may be upward. The Swedish krona advanced to the strongest since December 2000 against the euro, appreciating as much as 0.9% to 8.4781 per euro. It was 0.4% higher at 6.9311 versus the US dollar. Sweden’s currency climbed amid speculation the nation’s central bank won’t act to halt gains in the currency of the largest Nordic economy.
Politicians in the lower house of Germany’s parliament are expected to vote this afternoon in favour of the Spanish bank bailout after finance minister, Wolfgang Schaeuble, gave assurances that Spain would remain liable for the aid.
Plettenberg is not like any other resort town I’ve been to. It perches on top of the rocks above beaches and a salt water lagoon, giving stupendous views along the coast. It has its season when the population booms, but off season it is largely made up of the empty properties that are the second homes of global travellers as well as wealthy South Africans. In season like any resort it is busy, busy, busy.
The main street is a mix and at one end sits the café that is the Grand Café & Rooms. Multi-levelled, the entrance is up a steep flight of steps leading to an eclectic set of interiors and a terrace with breathtaking views along the coast . Dining here is a pleasure, the hard worked small kitchen producing marvels and the view, brushed with a glass of excellent local wine, entrancing. The kitchen is a part of the dining room. With only 9 bedrooms the dining room works hard all day and evening as the core of the operation.
Decor is reasonably sophisticated but spoiled by some tricks like sticking postcards and photographs onto the wall, creating a counter point to the sophistication of the fireplaces and solid wood furniture. White table cloths speak of a desire to be a little upmarket but the posters, post cards and ad hoc additions to the original decor work against this aim pulling in the opposite direction.
Reception desk works as the hotel reception and the maitre d’ desk for the dining rooms and the entrance lobby is informally stylish, dominated by what appears to be a large wood oven, apparently no longer in use.
Whitbread continued to deliver on its sustainability strategy by saving thousands of tonnes of CO2 across its hotels, restaurants, and coffee shops in 2011. The carbon savings were revealed in Whitbread’s tenth annual Environment Report, published on the 1st June 2012.The owner of the Costa and Premier Inn brands achieved an absolute reduction of CO2 emissions of more than 1,579 tonnes in 2011 – equivalent to taking approximately 250 medium-sized cars off the road – whilst opening 29 new hotels and more than 100 coffee shops across the country. The savings represent an 11% reduction in carbon emissions relative to sales revenue.
Chris George, head of energy and environment at Whitbread Hotels and Restaurants, said: “Our ambition at Whitbread is to lead the hospitality industry to a more sustainable future. To do that we have set ourselves stretching targets to reduce our energy and water consumption and cut waste across the business. Our recent performance shows we can hit the numbers whilst delivering strong returns to our shareholders.”
Installing energy saving technologies at existing Whitbread sites, investing in new sustainable hotels and restaurants and educating staff to save energy and water all contributed to the reductions.
Every existing Whitbread hotel and restaurant has electricity, gas and water data logging meters installed to record consumption and eliminate unnecessary wastage. At new sites, Whitbread is continuing to lead in the design of new sustainable hotels and restaurants and the business opened its tenth sustainable hotel and restaurant in Camborne, Cornwall in January 2012.
Whitbread employs over 40,000 people and serves 19 million customers every month in its 2,200 outlets across the UK.
Chris continued: “Given the scale of our business, the small changes we make at our sites to mitigate our energy consumption can yield huge carbon reductions across the UK and minimise the impact of our business on the environment.”
The Environment Report also outlined Whitbread’s progress in other key corporate responsibility areas including cutting water consumption by 5% relative to sales and diverting 83% of its site waste from landfill, whilst continuing to deliver its aggressive expansion strategy.
As part of its strategy to lead the hospitality industry to a more sustainable future, Whitbread has set itself the target of delivering a 25% reduction in carbon emissions, a 15% saving in water consumption and zero waste to landfill from direct operating activities by 2017, relative to sales and measured from a 2009 baseline.
Whitbread is also working with its suppliers to lower the carbon emissions generated from its supply chain and has published a new target to deliver a 10% carbon reduction across supply chain activities by 2017 as part of this latest Environment Report.
Hotel La Tour is a spectacular new concept hotel, which recently opened in Birmingham city centre. Its ultra modern and exquisite interior sets new standards of style and sophistication. The hotel boasts 174 guest rooms, stylish restaurant and an Executive Business floor.The hotels Operations Director asked the Brintons design team to work with Hotel La Tour on developing new custom carpet designs to complement the contemporary design of the property. Brintons designed and manufactured over 6,000 sqms of carpets for the guestrooms, corridors, bar areas, and conference rooms.
” From the outset of our project to design and build Hotel La Tour Birmingham, it was critical that we were working with partners who were as passionate as we were and who understood, and could adapt to, our collaborative style of working. The team at Brintons proved to be invaluable both in terms of their creative ideas in helping me to create innovative designs, in keeping with our brand values. We are delighted with the quality of workmanship and the finished product which has helped to create a real wow factor to our building” – Adrian Colman, Operations Director, Hotel La Tour
Project details 6,100sqm of Woven Axminster and Hand Tufted Rugs
Perfectly timed for summer, JAB Anstoetz has launched its latest collection of stunning outdoor only fabrics, called, UV PRO. This fresh and stylish collection of upholstery fabrics offers a vast range of colours in pinks, blues and greens with contrasting stripes, plaids, plains and geometric prints. Ideal for covering cushions and ottomans, the advanced colourfastness and UV, stain and chlorine resistant technology means your fabrics will stay bright for years to come.
To celebrate the launch of an extensive refurbishment project on the 19 July, Park Plaza Leeds took a suite to the street last week, creating a replica of one of its new hotel suites, showcasing their new and excellent standards to people passing through Leeds’ City Square. The Park Plaza Hotel team recreated the suite down to the smallest detail; from the carpeted floor, bed with headboard, flat screen TV, telephone, side tables, lounge chairs, coffee table, crisp linen, plump pillows, scatter cushions and the new and original art work displayed on easels by Leeds College of Art Students, who won a competition earlier this year to have their work displayed in the hotel.Park Plaza Leeds will officially unveil the suites and guest rooms to invited guests and local businesses on Thursday 19 July at the tallest hotel in Leeds situated on the corner of Boar Lane. The hotel’s full refurbishment includes a redesign of all 185 guest rooms, two new bedrooms increasing the total number of rooms to 187 and the creation of the Penthouse suite, situated on the top 20th floor, featuring two en-suite bedrooms, two lounges, private kitchenette, dining area and Leeds’ first hotel waterproof televisions built into the end of the deep baths within the 2 bathrooms. The two top floor suites also come complete with music docking stations, 46inch flat screen TV’s and telescopes for those looking to make the most of the incredible views over Leeds and beyond!
One of 17 contemporary Park Plaza hotels throughout the UK and Europe, the refurbishment has used over a tonne of paint, 748 tubes of silicone, 7,676sqm of carpet (that’s almost enough to cover the Leeds United pitch at Elland Road!) and 3000 linear metres of feature wallpaper situated behind 187 new beds. The work represents the first major investment since the hotel’s opening in 2003.
The project, which has been ongoing since September 2011, will have taken 24 workmen 2166 hours to complete, and includes the refurbishment of over 1500 items of furniture and the purchase of new Italian designed white leather desk chairs.
Park Plaza Leeds’ newly designed guest rooms and suites will incorporate a distinctive jewel-tone colour palette featuring deep amethyst and crimson. Each room will also feature artwork produced from the winning photographs taken by Leeds College of Art Students who entered Park Plaza Leeds’ recent photography competition.
Paul Rogers, General Manager of Park Plaza Leeds, said:
“So much hard work and effort has gone into this project since we began September last year. I’ve seen the hotel transformed, all twenty floors of it, and we are very excited to finally be able to reveal the results of our hard work to the general public. This is an exciting time for Leeds with the Trinity development as well as the new Leeds arena both scheduled for completion by 2013. We are committed to not just delivering a great product and experience to our guests but also in delivering a great service to our customers that exceeds their expectations when visiting Park Plaza Leeds. This is why since our refurbishment has started we have also invested in staff training in developing and delivering exceptional service and have seen a substantial improvement in guests’ feedback both in regards to the new product as well as service levels. This refurbishment will bring the Park Plaza Leeds Hotel back to the fore in terms of facilities and design, and we hope that in turn will attract new business from the leisure and business markets.”
Updates to the hotel’s public spaces will include the addition of a ground-floor executive lounge and a refurbished lobby, check-in area and Scene Coffee Bar, which overlooks City Square.
In early European trade on Tuesday the pound fell after a report showed that the UK inflation annual inflation unexpectedly eased in June to reach the lowest level since November 2009.After choppy trading against the euro and the Swiss Franc during the Asian session, CPI data revealed inflation slipped to 2.4% from 2.8% last month causing the pound to fall to 4-day lows of 1.5255 against the Swiss franc and 1.2695 against the euro, compared to yesterday’s close of 1.5305 and 1.2737, respectively. The next downside target level for the pound is seen at 1.52 against the franc and 1.2658 against the euro.
Against the US dollar, the pound fell to as low as 1.5554 after Ben Bernanke’s testimony in New York drove up dollar demand, GBPUSD fell from a near 2-week high of 1.5680 seen earlier in the day.
Bank of England governor Mervyn King said Tuesday that the Bank of England had no evidence that banks were deliberately misreporting their borrowing costs in 2008. King told lawmakers on a parliamentary panel that scrutinizes economic policy that neither the BoE nor the Fed had evidence of dishonesty in the setting of the Libor, but agreed the process was flawed. ________________________________________
WORLDWIDE
Spanish borrowing costs declined on Tuesday in its first debt auction since the government announced the latest round of austerity measures last week in a bid to attain deficit targets amid a severe recession.
Eurozone finance ministers are likely to meet on July 20 to finalize the €100bn Spanish bank bailout deal struck last month. Spain is set to face a tougher challenge on Thursday when it auctions its medium-to-longer term bonds. The country plans to raise between €2-3bn German investor sentiment declined for the third month in a row to its lowest level in six months, adding to signs that the euro area debt crisis is hurting the outlook for the region’s biggest economy. The ZEW Indicator of Economic Sentiment dropped to -19.6 from -16.9 in June.
Bouncing back from multi-year lows EURUSD hit a weekly high of 1.2317 yesterday and 1.2340 is seen as the next resistance level.
Canadian factory shipments declined in May, the fourth drop in five months, as refinery shutdowns weighed heavily on results and offset gains in the transportation sector. Financial turmoil in Europe, slowing growth in emerging markets and the US has dampened global demand.
As widely expected, the Bank of Canada retained its benchmark interest rate at 1%. The Canadian dollar edged higher against its major opponents following the rate announcement. As of 1400pm, the Canadian dollar was trading at 1.5842 against the pound.
US consumer prices were flat in June as energy costs continued to fall, keeping inflation at bay. The lower inflation of recent months could give the Federal Reserve more confidence as it considers whether to take further steps to bring down unemployment and stimulate the economy.
Industrial production in the U.S. increased by slightly more than anticipated in the month of June, according to a report released by the Federal Reserve yesterday, with the increase partly due to a rebound by output in the manufacturing sector.
Homebuilder confidence saw a substantial improvement in the month of July, according to a report released by the National Association of Home Builders yesterday, with the index of homebuilder confidence rising to a new five-year high.
Federal Reserve Chairman Ben Bernanke delivered a bleak assessment of the US economy to lawmakers on Tuesday, citing a slowdown in economic activity this year and a stubbornly high rate of unemployment and sounded sharp concerns over weakness in the labour market, which Fed officials have made clear is central to whether they decide to enact more stimulus programs.
GBPEUR traded the day within the 1.27 trading range on Monday with very little in the way of UK data releases to create volatility in the markets. The currency pair posted a high of 1.2768, a more than 3 year high against the low of 1.2705 set in early morning trading. GBPEUR now finds support at 1.2706 and 1.2634.GBPUSD spent the morning trading within the 1.55’s until the release of the US Retail sales where poor figures missing expectations allowed sterling to gain against the greenback and push into the 1.56’s, setting an overnight high of 1.5676. Cable will find support at 1.5592 and 1.5517.
Markets look towards the Inflation data being released from the UK this morning, where forecasts are predicting the lowest level of inflation in two years at 2.8%.
Jerry Del Missier, former Barclay’s chief operating officer said yesterday the bank’s then-chief executive phoned him in 2008 to instruct him to lower the bank’s interbank lending rate submissions but that he didn’t view the decision as “improper.” ________________________________________
WORLDWIDE
EURUSD traded within a 114 pip range yesterday posting a high of 1.2289 against a low of 1.2175, however overnight the pair have pushed higher and has broken above the 1.23 levels in early morning trading.
Yesterday the International Monetary Fund approved the latest tranche of its emergency bailout program for Portugal, applauding the debt-beleaguered nation for its efforts to return to economic health.
US data failed to meet expectations as retail sales posted a negative figure of -0.5% against the forecast 0.1% figure forecast, showing a huge slowdown in the sector, which triggered a rally in the GBPUSD price through 1.56.
Federal Reserve Chairman Ben Bernanke heads to Capitol Hill today for the first of two days of questions, comments and haranguing from lawmakers as he delivers the central bank’s semi-annual report to Congress. With two weeks until the Fed’s next policy meeting, lawmakers are likely to hound Bernanke on whether the central bank plans to launch another round of bond-buying.
New Zealand’s central bank has ample room to keep rates on hold after annual inflation slowed to its lowest level since the fourth quarter of 1999. Statistics New Zealand said this morning that the consumer price index rose 0.3% on the quarter in the second quarter, below expectations of a 0.5% rise. The index was up 1.0% on the year, compared with expectations of a 1.1% rise.
China needs more active fiscal policies among others to support its recent credit loosening measures, which may not be as effective as expected, Yan Qingmin, assistant chairman at the China Banking Regulatory Commission, wrote in Financial News. “Effects of credit loosening policies are waning as the demand for credit is weakening,” Mr. Yan said “Thus (we) urgently need support from fiscal and other policies.”
The Adria boutique hotel has opened its doors in the centre of London just in time for the very busy 2012 summer. The major refurbishment of a classical building has been completed down to the finest detail. Jestico and Whiles, the interior designers, have created a luxurious environment as an ideal haven from the busy streets of Kensington and Chelsea. Frank Hudson furniture were commissioned to design and make bespoke desks for the reception and the suites with discreet wire management and hand carved details to the cabriole legs and worktops. Very large wall hung and floor standing mirrors were also produced to create a lighter more airy feel to some parts of the public areas.
For more information on how Frank Hudson can help with your project, please visit www.frankhudson.com
Encompass are pleased to announce that we will now be acting as the UK distributor for Skantherm.Skantherm are one of Germany’s finest stove manufacturers and a market leader in their field world-wide. Their ranges include varying designs from more contemporary stoves, such as Shaker pictured above and below, to more traditional classical designs which can be viewed on our website.
Models vary in heat output and a colour choice of black, grey or brown is also available for most models.
PICO – SKANTHERM Designed by Sebastian Buscher for Skantherm, Pico is a 7kw log burning stove with integrated log storage. Pico’s contemporary design is enhanced with three glass sides which allow the warmth of the flickering flame to be enjoyed from anywhere in the room. A striking clean design means Pico is suitable for modern and contemporary spaces. A choice of colours broadens the stove’s versatility.
IVO – SKANTHERM Skantherm’s Ivo stove was designed by Akantus and has been awarded the Red Dot design award. A 6kw log burning stove with a generously sized burning chamber, Ivo has a softer aesthetic than other Skantherm stoves, lending itself to a wider scope of installations.
SOLO – SKANTHERM Solo is another Akantus design for Skantherm. This stove is an impressively proportioned 6kw log burner. Solo can either be bought as a standard fixed module or with the option of being rotatable through 60 degrees. Optional heat retention modules also help to improve the efficiency of this stove. Front inlays can optionally be specified in a range of finishes, allowing a certain amount of customisation to suit your requirements.
TRIGO – SKANTHERM At just over 1.2 meters in height Trigo houses one of the largest burning chambers in the Skantherm collection. The fire place has three glass sides thus opening the flame to three aspects of the space in which it is installed. Another Akantus design for Skantherm, Trigo’s 7kw heat output makes it suitable for larger rooms and the integrated log storage increases its functionality further still.
ZIO – SKANTHERM Like Solo, Zio can be rotated through 60 degrees in both directions. Although standing taller than some other Skantherm stoves, Zio has an output of 5kw making it ideal for installation in smaller spaces where the focal point simply has to be a roaring flame.
Many look at the glamorised television shows and think ‘I can do that’. Like being a footballer, anyone can kick the ball, but the level of skill needed to rise to the top is considerable and beyond the capabilities of many people.
What I describe here is a common path. It is not the only path, but this is the one that inculcates the correct skill set. Do not believe siren voices that say you can do it by a shorter method. You may be able to. You may even be successful, but this method provides a surer path, and provides alternative routes if you realise you are on the wrong road. First thing I would say is start young (although I ran a Foundation course for adult returners that was very successful). Not, as one fool told me “because I’ve been doing my bedroom regularly since I was 5” but because the core skill is to have a visual curiosity. To build your own vision this needs feeding. My dad taught me to draw when I was about four – I mean draw, not just hold a pencil. He taught me to look, and if you start drawing for half an hour or so every day you will also sharpen your eye. So keep a sketch book – carry one with you and every time you sit, draw. Don’t mess with your phone, take off the ear phones and tune into the reality around you.
A sketch book, not a scrap book – keep one of those if you want – but a book you draw in will build your own visual vocabulary. No pen? Use whatever comes to hand – a lipstick, stick dipped in mud, learn to make marks, understand their symbology and build your own visual vocabulary. Do it steadily and it will build into you own visual library. Experiment, change the parameters, take risks and it will open your mind as well as your eyes.
Do some research into how your eyes work – I recommend a book called ‘The Eye and Brain’ by E. L Gregory – old but still an excellent primer. Look at galleries and exhibitions – fine and applied art, locally and national. Immerse yourself in the visual language of art and design, theatre and music of all sorts.
If you find none of this appealing do something else.
Roman, the leading UK shower manufacturer, have further expanded their range of bath screens with an Outward Opening Folding Bath Screen, which joins their popular Orbital range of enclosures and bath screens.The Orbital Outward Opening Bath Screen has been designed to cleverly overcome common space restrictions in hotel bathrooms. It features a fixed panel, at the tap end, which prevents water from leaking out from this commonly weak area. The hinged panel can then be opened outwards for easy access, but it stops at 90° to avoid contact with basins and other bathroom furniture.
The bath screen features 8mm thick glass with minimal framing, for a stylish finish. It is also power shower approved; ensuring the area around the bath will remain splash free for easy cleaning.
The Orbital Bath Screen is supplied with an optional bracing bar, for a totally sturdy finish. It also comes with a bath top aluminium seal and horizontal PVC seals for additional water integrity.
Like all Roman Bath Screens, the Orbital Outward Opening Folding Bath Screen incorporates Roman Ultra Care Pre-coated Glass Protection, to ensure it keeps a lasting sparkle and for easy cleaning. It is also service backed by Roman’s Truelife, Lifetime Guarantee for total peace of mind.
David Osborne, Managing Director at Roman, comments: “Showering over-the-bath is still very much a popular showering solution for many hotels which can often be limited by space, therefore Roman offers a diverse range of bath screens to suit a variety of taste, space, situation and budget requirements. Showering is an essential part of the morning routine and is key part of the hotel bathroom, therefore the addition of the shower over the bath can help overcome space restrictions.
“With the addition of this Outward Folding Bath Screen, Roman now has a bath screen to suit every situation. With our collection of bath screens you can install a stylish, powerful and modern showering facility, which just happens to be over the bath.”
Contra Curtains Ltd are pleased to announce the completion of the latest citizenM hotel (read the latest miniview here).
citizenM London Bankside brings one of the most revolutionary spaces for sleep, work and play to the capital.This new property takes what guests love about the brand – high end design, trailblazing technology, innovation, a certain ease and flexibility – and improves it with subtle tweaks that even better suit what modern travelers want and need.
Contra supplied all 192 bedrooms with Silent Gliss “Wave” system sheers, “Wave” was also used in the inspirational public spaces.
Completion of London Bankside continues Contra’s successful relationship with citizenM.
Contra’s project director Chris Wicks says “After working successfully with the project team at citizenM Glasgow, we were delighted to be involved again at Bankside. The citizenM concept brings a vibrancy and energy to the hotel industry, this energy is transmitted throughout the project and I feel the finished property reflects this.”
Contra are working closely with the citizenM team across numerous future locations including two New York properties and three further properties in London.
Best Western International (BWI) has officially launched its first hotel in Kuala Lumpur; BEST WESTERN PREMIER Dua Sentral.
The recently open luxury hotel marks not only Best Western’s debut in the fast-growing Malaysian capital, but also the debut of the luxury BEST WESTERN PREMIER brand in the country. The landmark property has now become Best Western’s flagship hotel in Malaysia.Located in Kuala Lumpur’s new business and transportation hub, KL Sentral, the new 364-room property is less than 30 minutes from Kuala Lumpur International Airport via the KLIA Express rail service and a short ride from the city’s main shopping and entertainment districts, making it the perfect place for a relaxing vacation or important business meeting.
“We are delighted to open this stunning new hotel and introduce our BEST WESTERN PREMIER brand to Malaysia,” said Glenn de Souza, Best Western International’s Vice President International Operations – Asia & the Middle East.
“The location is perfect – just minutes from both the city and airport, it is the ideal place from which to base a business or leisure trip. The hotel’s exquisite facilities also make it wonderful destination in its own right,” Mr. de Souza added.
BEST WESTERN PREMIER Dua Sentral offers a range of contemporary rooms ranging from 34 to 183m², each including upscale facilities such as LCD interactive TVs, DVD players and iPod docking stations. As with all Best Western hotels around the world, it will also offer complimentary in-room internet access.
Guests will be treated to an array of culinary experiences, including the Kembali Kitchen which serves traditional Malaysian and international dishes, Hugo’s on 6, a fusion restaurant combining Mediterranean and Oriental flavors, and Grill 582, which offers the finest steaks and sumptuous seafood.
Business travelers and groups are catered with eight function rooms able to host from 12 to 192 delegates, while those wanting a more relaxing experience can unwind in the infinity-edged swimming pool and Best Western’s signature Bhuvana Spa.
The opening of BEST WESTERN PREMIER Dua Sentral marks a major milestone in Best Western’s Malaysian expansion plans. Also opening in 2012 will be the BEST WESTERN Wana Riverside Hotel in Melaka, while future developments will see new Best Western hotels rise in Kuala Lumpur, Ipoh, Klang, Shah Alam and Petaling Jaya. In total, Best Western will operate 11 properties in Malaysia by 2015, offering more than 1,700 rooms across nine unique destinations.
Friday’s trading saw a 0.5% improvement in the value of sterling against the euro. From an opening rate of 1.2643, sterling continued to rally throughout the day reaching a high of 1.2717 at 12:40pm. Despite a slight dip in the early afternoon sterling returned to highs as the session closed, and has averaged at a rate over 1.27 for the duration of the weekend. A close above 1.27 today will confirm Friday’s rally and pave the way for gains towards resistance of 1.2840 this week.Friday’s data was light for the UK with only the Conference Board leading index released at 10:00. Although regarded as having muted influence on exchange rates, the CB Index revealed a gloomy outlook for economy posting a negative 0.8% as opposed to positive 0.2%.
The Ernst & Young ITEM Club report says that it expects consumer price inflation to end 2012 at around 1.7% which will serve to spur consumer spending. Despite this predicted relief to the UK’s struggling economy GDP is still expected to be flat for much of 2012.
On Friday GBPUSD saw a rally with the opening of the US session. Cable moved from 1.5441 at midday to close UK trading at approximately 1.5557. In pre-market trading this morning GBP is holding above 1.5550, but expect movement as today will see the release of both core and non-core retail sales figures for the States; both are expected to show a fractional increase for the sector. Support at 1.5467 is likely to be tested during today’s session and a close above 1.5632 could lead on to further gains. ________________________________________
WORLDWIDE
Friday was also a quiet day for global market data. Most analysts were watching out for signals resulting from the Italian ten year bond auction. Contrary to the euro’s movements down against its major peers, yields on the Italian 10yr came in lower than expected. It was feared yields would exceed 6.19%, but 5.82% may give traders some confidence.
Early in the US session on Friday EURUSD jumped from 1.2162 to 1.2254 within a few minutes after the Michigan Consumer Sentiment Index fell. Simultaneously, the US dollar also lost ground to sterling, GBPUSD moved up from 1.5459 to 1.5547.
EURAUD has seen extreme losses for the single currency. The current 1.1959 is the strongest AUD has been against the euro in its history. This indicates both that resources remain attractive to diversified investors, and that provided fiscal and monetary policy is being actively managed, as the RBA has demonstrated it is, risk appetite remains in certain sectors.
A Japanese bank holiday has meant that volumes were less in Asian trading, however Asian shares improved slightly on the back of more positive sentiment. The GBPJPY 100 day moving average indicates JPY could move back to around 121, but at present the pair trade at 122.94, with EURJPY at 96.65.
Friday’s US data surprised the market as PPI confounded expectations and posted positive 0.1%. Although not hugely up, forecasts had suggested a contraction of -0.5%.
Friday’s slide of Chinese figures was largely positive reading. The absence of a further slowdown and signs of improvement in some of the key figures suggest the current cycle in China has bottomed out. The figures were received positively in the markets and Asian stocks rose after China announced it will increase measures to support growth.
The focus for currency traders is now on Ben Bernanke, who will hold his semi-annual presentation on monetary policy in the Congress on Tuesday and Wednesday. Here the market will look for signs of further monetary policy easing, under a scenario where the US economy slows again.
The first guests to see the enhanced Legian Bali checked in last month as the resort put the finishing touches on a four-month refurbishment.
With contributions from its guest feedback folder, the 68-room property reopened June 1 to reveal a new 30-meter infinity lap pool and beachfront sun deck, freshly landscaped gardens, improved lighting in half of its guest rooms and upgraded views of the spectacular Indian Ocean from its private, three-bedroom Beach House.Essential elements of the resort experience — natural light, easy airflow, prime ocean views and inviting green space — were all refreshed in the Legian’s most extensive facelift since its opening in 1996.
“The past half-year has been all about taking a near-perfect property and layering in the subtleties (and one grand swimming pool!) to make it that much better,” said Kevin J. Abramowicz, the resort’s general manager. “Our guests love the Legian’s design, but they wanted more light, so we worked on more light.”
Guests wanted a space to enjoy sundowners, so the resort laid down a deck; they wanted to do laps, so the resort built a gorgeous infinity pool right above the sands.
“We absolutely listened to guest comments when planning the improvements,” said Abramowicz.
In the first of two stages of renovations, workers took tools to half of the Legian’s guest rooms. They fixed the plumbing for better temperature control. They recalibrated the air circulation system in the bedroom, and they installed new lighting possibilities on the terrace.
Starwood Hotels & Resorts Worldwide, Inc. has recently announced the opening of Four Points by Sheraton French Quarter at the centre of New Orleans’ world-famous historic district. Previously known as The Inn On Bourbon, the former Ramada property completed a multi-million dollar renovation prior to opening under the Four Points flag. Four Points by Sheraton French Quarter offers 186 comfortable and stylish guest rooms, more than 4,000 square feet of market-leading meeting facilities, an outdoor pool, 24 hour fitness and all the other amenities that have made Four Points a favourite with travellers worldwide.The hotel sits on the site of the original French Opera House, which opened in 1859 and reigned for many years as New Orleans’ cultural epicentre. It is walking distance to the city’s famous jazz clubs, historic French Market, St. Louis Cathedral, the Mercedes Benz Superdome, and countless shops, restaurants and bars. Guests can book balcony rooms either overlooking Bourbon Street or the quiet, elegant hotel courtyard.
Cafe Opera, the hotel’s full-service restaurant, recently opened under the direction of French native and culinary master, Chef Philippe Andreani. Cafe Opera’s menu offers some of the area’s best continental and Creole cuisine for breakfast, lunch and dinner.
Starwood Hotels & Resorts Worldwide, Inc. has announced the opening of Four Points by Sheraton Colonia Roma in Mexico City. Owned and managed by Sora Group, the new hotel is the third in Mexico for the fast-growing Four Points brand, which now includes more than 160 hotels around the world. Twenty-three Four Points hotels are slated to open in 2012 alone, giving it the second largest pipeline among all Starwood brands.The 90-room Four Points by Sheraton Colonia Roma exemplifies the brand’s “best for business” proposition for travellers who seek great hotels at great rates. Among its hallmarks are a stylish and functional guest room workspace, free in-room internet, free WiFi in public spaces, and the best local beers from the brand-wide Best Brews program.
Other features include a 24-hour fitness centre, an international restaurant, and a relaxing bar and lounge. Seven meeting rooms provide more than 9,300 square feet of flexible meeting space. The hotel’s location in Colonia Roma puts it within walking distance of shopping and cultural treasures, close to corporate headquarters including the World Trade Center, and just eight miles from Mexico City’s Benito Juarez International Airport.
“The introduction of the Four Points by Sheraton Colonia Roma represents the fifth brand of the Starwood portfolio to open in Mexico City and reaffirms our commitment to growing the options for both international as well as domestic travellers to this key business and tourism destination,” said Osvaldo Librizzi, president of Starwood’s Latin America Division. “We are delighted to launch this partnership with the Sora Hotel Group and are confident that Colonia Roma is an ideal location for our guests to enjoy the Four Points by Sheraton and all that Mexico City has to offer.”
Brian McGuinness, Senior Vice President of Specialty Select Brands for Starwood, added, “Four Points by Sheraton enjoys a loyal worldwide following and we’re pleased to offer guests a new lodging option in one of the world’s great centres of culture and business. We believe that Four Points’ contemporary style and ‘best for business’ services and amenities are an excellent fit for Mexico City.”
Mexico City’s first suburban development, Colonia Roma has enjoyed a renaissance as a centre of art, design, shopping, and dining. The Four Points hotel is located near the neighbourhood’s main thoroughfare, Alvaro Obregon Street, affording its guests easy walking access to world-class attractions including the Casa Lamm cultural centre, the MUCA contemporary art museum, and Casa Universitaria del Libro.
Rezidor, one of the fastest growing hotel companies worldwide and a member of the Carlson Rezidor Hotel Group, has opened a new flagship in Qatar: the Radisson Blu Hotel, Doha. The outstanding property featuring 583 rooms has been converted and completely renovated. Qatar is one of the world’s richest countries, and is using its immense oil and gas wealth to diversify the economy into real estate, tourism, and air travel. In 2022, Qatar will be hosting the Football World Cup. Rezidor operates the brands Radisson Blu, Park Inn by Radisson and Hotel Missoni across the Middle East, and currently has 30 hotels with more than 12,700 rooms in operation and under development in the region.
The Radisson Blu Hotel, Doha enjoys an excellent location in the city centre, only 4 kilometres from Doha International Airport and close to the bustling West Bay business district. Visitors find innumerable opportunities for shopping and dining nearby, while beachcombers can bask on the stunning shoreline. Memorable cultural attractions include the Museum of Islamic Art, designed by I.M. Pei.
Besides 583 rooms and suites with Radisson Blu signature services such as free high speed internet access, the hotel features fantastic in-house dining options: Guests can chose between 12 restaurants – including fine dining and more casual options for anything from a leisurely meal to a quick bite.
The restaurants have just received two major awards from Time Out Doha: Best Chinese Cuisine and Best Japanese Cuisine. 6 stylish bars and nightclubs complete the impressive food & beverage programme.
For moments at leisure, the hotel comprises swimming pools, saunas and gymnasiums, squash, basketball, badminton and tennis courts. Business guests enjoy more than 2,000 square metres of airy, contemporary conference space.
The Inn at the White Elephant Village opened in June 2012 with 14 suites and six deluxe guest rooms. Located on South Beach Street, in the heart of Nantucket town, the new Inn and existing White Elephant Residences makes up the newly-created White Elephant Village, a natural extension of the award-winning White Elephant hotel that continues to be rated among the top hotels in the world. The Inn is the latest property for Nantucket Island Resorts who owns and manages Nantucket’s most iconic hotels including the Relais and Chateaux Wauwinet, The Cottages and Lofts on the Boat Basin, Jared Coffin House, White Elephant Hotel and the White Elephant Hotel Residences. The group also owns and manages the 240 slip marina – the Nantucket Boat Basin.
Celebrated Nantucket interior designer Kathleen Hay brings a warm, neutral palette to the Inn, providing a sophisticated and comfortable décor. Reflecting the ambiance of its island location, the Inn features oversized windows, allowing natural sunlight to illuminate the rooms, and quintessential Nantucket wainscoting detail throughout the lobby and corridors. Each of the suites and deluxe guest rooms comes complete with HD flat-screen TVs and miniature refrigerators as well as linens by Pratesi, plush Turkish towels, bathrobes, and cosy slippers. Ideal for families, the 14 suites offers sofa beds to accommodate couples travelling with children and four of the suites features fireplaces.
As part of the expansion, the Village has its own lobby, including reception area, concierge, fireplace, gift shop, and business centre. The lobby serves morning coffee, pastries, all-day snacks, and late-afternoon port and cheese – creating a natural hub for guests. Guests of the White Elephant Village may enjoy exclusive use of the Village’s heated pool and cabanas, fitness centre, and complimentary bicycles.
Managing Director of Nantucket Island Resorts Khaled Hashem sees this expansion as a positive sign that tourism in Nantucket is continuing to grow. “We are excited with the addition of the Inn that will further enable us to host families and groups in the award winning accommodations these travellers expect from the White Elephant.”
DoubleTree by Hilton proudly announces the opening of an upscale full-service hotel, situated near London Heathrow Airport (LHR). The 200-room DoubleTree by Hilton London Heathrow Airport is located just ten minutes from LHR and central London is easily accessible via public transport to the city’s historic attractions, world renowned neighbourhoods and business districts.Formerly the Ramada London Heathrow hotel, DoubleTree by Hilton London Heathrow Airport is celebrating its new affiliation with a variety of new product, service and design enhancements, including the Hilton HHonors guest loyalty programme, luxurious Sweet Dreams by DoubleTree® bedding and the signature DoubleTree by Hilton chocolate chip cookie welcome.
The DoubleTree by Hilton London Heathrow Airport is owned and managed by Focus Hotels Management Ltd, and operated under a franchise license agreement with a subsidiary of Hilton Worldwide.
The tastefully appointed and spacious guestrooms and deluxe rooms at DoubleTree by Hilton London Heathrow Airport feature modern comforts and conveniences suited to today’s business and leisure travellers. In-room facilities include wireless high-speed and hard wired internet access in guestrooms and public areas throughout the hotel; spacious work desks with ergonomic chairs; high-definition LCD TVs; MP3-compatible alarm clocks; plush bedding and combed cotton linens; in-room gourmet coffee and tea service; and refreshing Crabtree & Evelyn Citron bath and body products.
The hotel features an open plan bar and restaurant area with complimentary WiFi access, which guests can make use of whilst enjoying dishes from the restaurant menu. The restaurant offers a variety of classic British menu items in a casual, friendly atmosphere. The hotel also serves the brand’s signature Wake Up DoubleTree Breakfast, which includes hot dishes and healthy options to start the day. At the end of a busy day, guests can unwind with a fine selection of refreshing cocktails at the hotel’s bar. 24 hour room service also is available with a full menu selection during peak dining hours.
DoubleTree by Hilton London Heathrow Airport features six meeting rooms, totalling 221 square metres of flexible conference space for conventions, business meetings, training seminars, banquets and social events, which can accommodate up to 150 guests. The hotel offers a 24-hour self-service business centre and complimentary printing service that includes print-from-your room facilities.
At Decoratif Design we are able to supply PLAIN GLASS, DISTRESSED and COLOURED mirror glass cut to size, all we need from you to quote is:1 – Type of Mirror Glass a. Plain (Maximum Panel size 2540mm x 1605mm) b. Antique (Maximum Panel size 2250mm x 1605mm) c. Colour (Maximum Panel size 2250mm x 1605mm)
2 – Thickness of Mirror a. 4mm (Plain only) b. 6mm (Plain, Antique/Distressed or Coloured)
3 – Fixings a. Screw (Number and Position of Holes) b. Clips (suitable for smaller mirrors) c. Adhesive d. Concealed Fixings (suitable for smaller mirrors) e. Corner clips (suitable for smaller and medium sized mirrors)
Antique / Distressed Glass
Antique mirror glass isn’t old – it just looks like old, distressed silvered mirror glass. It has the look of aged, vintage mirror glass. Antique mirror glass can be used in architectural and decorative settings.
Antique/Distressed Glass can come in different styles, different coloured tints and depth of the antique effect, from light to heavy.
With Decoratif Design Ltd all is possible!
Contact Steve Driver for a FREE consultation or Quotation today and as always with Decoratif Design….anything is possible!
Sterling has benefited in recent months from being seen as a safe haven alternative to the euro zone’s fiscal turmoil, although some market players said the gloomy outlook for the UK economy could limit the pound’s gains.The pound fell to its lowest level in a month versus the dollar on concern efforts to pull the U.K. out of its first double-dip recession since the 1970s will be hampered by the euro-area crisis and declining global growth.
GBPUSD’s fall from 1.5516 to 1.5389 was also down to positive US Jobless Claims data. Looking ahead a break and close below 1.5380 could again revive the possibility of a significant down trend. Although, this levels looks like it could hold for now with any intraday bounces being capped at 1.5530.
GBPEUR had opened trading at 1.2655, before falling to 1.2632, and overall had a quiet day with a mere 35 pip trading range, finishing at 1.2642. A close below 1.26 will be needed to relieve immediate upside pressure. ________________________________________
WORLDWIDE
Chinese Q2 GDP slowed to 7.6% y/y, although still a fantastic growth figure, it marked the sixth consecutive quarter of decline and revealed the slowest growth pace since the first quarter of 2009.
Moody’s downgraded to Italy overnight to Baa2 with negative outlook. A Baa2 rating from Moody’s sees Italy now one notch below S&P and two notches below the Fitch rating. This could further weigh on euro sentiment and will likely see increased focus on the Italian bond auction this morning.
EURUSD fell to another fresh 2 year low of 1.2164 from 1.2245. Key support still comes in at 1.2132, any bounces should find near-term resistance at 1.2336
The euro’s drift lower came in spite of a surprise rise in euro-zone industrial production data for May, which showed output climbing 0.6% on the month, compared with expectations for a 0.2% fall. However, the year-on-year drop of 2.8% was the biggest since December 2009, highlighting the weakness of the sector Spain is looking to tighten next year’s deficit targets for regional governments and plans to leave this year’s targets unchanged despite the European Union loosening overall targets for the country, Spain’s government set a target of 1.5% of gross domestic product for the regions’ budget deficit in 2012, and of 1.1% of GDP in 2013
Unemployment in Greece continued to rise, April’s figure rose from 22.5% from 20% in March. Investors sold perceived riskier currencies against the dollar after the release of June minutes from the Federal Reserve, which suggested growth in the world’s largest economy would have to worsen for the central bank to launch more quantitative easing.
In a surprise move overnight the Bank of Korea cut interest rates 0.25% down to 3%, citing signs of US economic deterioration, problems in the Eurozone, and slower emerging market growth. Brazil also recently cut interest rates by a 0.50% down to a historically low 8%. Add that to the easing measures of late by the US, the UK, the EU, Australia and China and it becomes clear that global growth could soon get markedly worse.
US Initial jobless claims fell by 26,000 to a seasonally adjusted 350,000 in the week ended July 7, sending claims to their best level since March 2008. And if this trend continues it could validate the Fed’s decision to hold back on another round of Quantitative Easing as the market could be recovering on its own without their additional assistance.
U.S. mortgage rates dropped, with 30-year loans reaching a record low for a fourth straight week, amid signs of improvement in the housing market. The average rate for a 30-year fixed mortgage fell to 3.56 % in the week ended today, the lowest in Freddie Mac records dating to 1971, from 3.62 %.
ZAR fell to its lowest level this month as bond yields dropped to a record on speculation South Africa’s central bank will follow Brazil and Korea in cutting interest rates to stimulate growth.
The turnover of CEOs amongst the world’s 50 largest hotel companies doubled in 2011, compared with 2009, with 12% of companies now being led by a new chief executive.
However, the choice of CEOs is becoming more conservative in the sector, with internal promotions more common, or appointments from within the hotel industry. These were the key findings of a study by HVS Executive Search, co-authored by Chris Mumford and Thomas Mielke. This biennial CEO monitor tracks succession rate, as well as the profiles and demographics of outgoing and incoming CEOs. The largest company in the top 50* is InterContinental Hotels Group (with 4,437 properties), while MGM Resorts International is the smallest (with 17 properties).
The previous HVS study showed an average of five companies in the top 50 changed their CEO each year. The onset of the economic downturn in 2008 saw this rate spike to seven changes, then drop to just three in 2009 as boards opted for stability. A further rise in 2011 demonstrates that as companies become increasingly stable and see the beginnings of economic improvement they are prepared to make major business changes such as appointing a new CEO.
“During the early days of the global economic meltdown we certainly witnessed shareholders and boards electing to either stick by their management teams and support them out of recession, or to make a quick change and recruit a CEO suitable for the tough times ahead,” commented Chris Mumford, HVS Executive Search, President – Europe, Middle East & Africa.
“Increased CEO turnover over the past two years could be also attributed to boards starting to lose patience with the executive leadership at those companies where the impact of the financial crisis is still being felt and recovery is taking longer than forecast.
“As we look ahead to the next two years we anticipate that changes will largely be driven by economic conditions; a company with financial stability and an aggressive growth strategy requires a different leadership skill set to one in survival mode,” he added.
While the majority of CEO changes were planned events in 2011, there were twice as many planned successions as there were forced changes in leadership (8% versus 4%). Disagreements in strategy between directors and management gave rise to an increase in forced succession, such as at NH Hoteles and Accor.
The study also reveals a change in the typical profile of a hotel company CEO due to the influx of Chinese companies into the top 50 largest hotel companies. Leaders of these companies tend to be younger that their Western counterparts and are typically first-time CEOs groomed into the role by the Chairman or previous CEO.
The average age of an incumbent hotel company CEO is 52, with the majority of CEOs in Europe and North America in their early 50s.
The number of Chinese hotel companies in the study caused the average age of a CEO in Asia drop from 56 in 2007 to 46, with incoming CEOs being an average of 44 years old. European and North American CEOs are six years older on their date of appointment.
As the Chinese market matures and the talent pool grows bigger the average age of a CEO across the study is expected to rise accordingly, and the CEO profiles begin to more closely mirror those of Europe and North America.
At the same time, as North American companies further increase their global reach more ‘global citizens’ are likely to occupy the top seats. This in turn may see a reintroduction of CEOs from other sectors with experience of growing international brands.
The study also reveals that CEOs of privately owned companies tend to be younger than those of publicly listed companies at 46 years old, compared with 51.
* The study included data from the 50 largest hotel companies as published by HOTELS Magazine in September 2011.
The typical hotel CEO… • Is 52 years old • Is male – only 2% are female • Is unlikely to hold dual roles – only 30% of hotel companies now have joint CEO and chairman • Is in his first CEO role – only a third have held the title previously • Is from within the company if it’s a privately owned company (88% are from inside) • Is more likely to be from outside if it’s a publicly owned company (33% are from outside) • Is from within the hotel sector (43%) • Is well qualified – 27% of CEOs have an MBA or Masters degree • Has no experience of foreign markets – only one third has this experience • Has been in the job for an average of six years.
Featuring up to four different spray patterns, GROHE Power&Soul™ offers individualised showering experiences – for a fresh start to the day or for simple relaxation. The Rain spray pattern allows for gentle water flow that envelopes the whole body, while the innovative Rain O2 is enriched with air which results in soft bursts of water that massage your head and body. The Jet spray pattern effect functions like a deep tissue massage that eases tight muscles after a workout or a long day at the office. While the Active Massage spray pattern, inspired by the aboriginal head massage technique called ‘Bokoma’, offers ultimate relaxation that revitalises the body with a moving, circular spray. “One-click showering” makes all of the difference. The GROHE AquaDirect™ spray selector fuses advanced engineering with outstanding design. Four buttons on the shower head give direct access to four single spray patterns and another unique seven mix patterns. This feature takes personalised showering to a new level.
The GROHE Power& Soul™ line delivers an unparalleled choice of designs, sizes and spray patterns – for any preference, any occasion and any style. The range includes showers with diameters of 100, 130 and 160 millimetres.
Matching hand showers to all GROHE ranges help to create a coordinated design throughout the bathroom. From minimalist modern Cosmopolitan design to organically shaped showers in Contemporary style.
The product already garnered the iF product design award 2012 and the red dot design award 2012.
Following Germany, Israel, Belgium, Hungary and Switzerland, Leonardo Hotels is now also to have a presence in Vienna. The first Leonardo Hotel in Austria has opened its doors: the 4-star Leonardo Hotel Vienna. “By coming to Vienna we’ve been able to add another important European location to our hotel portfolio,” explains Daniel Roger, CEO of Leonardo Hotels Europe. Vienna’s Leonardo Hotel is located in a central position right on Europaplatz just 100 m from the city’s main shopping street, Mariahilfer Straße, and has 213 bedrooms and 3 function rooms with up to 85 sqm. The reconstruction was financed by the IMMOFINANZ Group, the owner of the hotel property: “We are very pleased to have gained a strong partner for this appealing location with Leonardo Hotels. Together we will further highlight the growing district around the recently newly opened Westbahnhof railway station in Vienna,” says Manfred Wiltschnigg, Member of the Board of the IMMOFINANZ Group.
The hotel’s highlight is the generously proportioned, open lobby, which combines bar, restaurant and lounge to form a spacious entrée. “That’s our centrepiece and the hotel’s ‘living room’, which invites people from all over the world to linger, unwind and make new contacts,” says interior designer Andreas Neudahm, explaining his concept. In a major renovation project led by him, the premises got transformed into a modern, fresh lifestyle and business hotel. In order, despite the purist style and modern design, to nevertheless create a link to Vienna and its sights, several special artworks featuring typical Viennese scenes are being produced exclusively for the hotel and will be found in varying sizes throughout the premises.
One very special feature of the hotel is the business level, which extends over two floors and provides bedrooms specifically tailored to the needs of people travelling on business. They feature, for example, spacious desks at which guests sit in extra comfortable ‘Relax Chairs’. The colours convey an especially elegant and refined ambience.
At the new Leonardo Hotel Vienna guests travelling on business experience true exclusivity in the VIP lounge, which has been designed specifically with them in mind — A relaxing atmosphere combined with comprehensive extra service, extended culinary offerings and free Internet access leave nothing to be desired.
Legal & General Property is pleased to confirm that work has started on site to build St Stephens Place Leisure Park, the first cinema anchored development in Trowbridge for over 20 years.
Last week Leadbitter Group, a Bristol based company, were formally appointed lead contractor for the development and will carry out the regeneration of a long-neglected part of Trowbridge town centre. Work started on site on 6 June 2012, creating over 100 jobs for local tradespeople. Legal & General Property, the firm behind St Stephens Place Leisure Park and owner of the neighbouring Castle Place Shopping Centre, completed contracts in April with ODEON and Premier Inn. The development will provide a new seven-screen ODEON multiplex cinema, a new 80-bed Premier Inn hotel, as well as a range of family restaurants, cafes and bars, 111 new car parking spaces, new landscaped areas of riverside open space, which once completed will create over 200 new ongoing jobs for Trowbridge.
Formerly home to a Tesco store, the site has lain dormant since the mid-1990s. The site will now become a hive of activity – construction will gather in pace over the summer, with a view to St Stephens Place Leisure Park opening for the people of Trowbridge in October 2013.
Ken Taylor, Property Director, ODEON Cinemas, comments: “ODEON Cinemas is delighted that construction of our cinema at St Stephens Place Trowbridge has started. We know how much local residents have missed a cinema in the town. A start this week means that we will be able to open in time for Autumn 2013.”
Tim Russell, Senior Asset Manager at Legal & General Property, comments: ”With the appointment of contractors we are sending out the strong message that St Stephens Place Leisure Park is happening and happening right now. We are delighted to have delivered on the promise we made to people of Trowbridge that, unlike other schemes that have been suggested for Trowbridge, only to fall by the wayside, we are here to stay.
“We believe in Trowbridge as a vibrant town full of potential with much to offer as the County Town of Wiltshire and we are delivering the cinema and leisure facilities that the people want and deserve. Our development will inject new life into the town centre, which is such an essential part of the identity and vibrancy of any town. I look forward to being here in October 2013 to welcome the people of Trowbridge and beyond into the newly opened St Stephens Place Leisure Park.”
Rob Bradley, Regional Director, Leadbitter Construction, comments: “Leadbitter Construction is delighted to have been chosen to build the ODEON Cinema, Premier Inn hotel and restaurants at St Stephens Place in Trowbridge. At its peak our construction site will provide over 100 jobs for local tradespeople.”
Nick Brown, from SK Fruits, comments: “The start of this construction can only be good news for Trowbridge. It’s about time someone did something with the site. The proposed facilities look terrific and will only be of benefit to the local community.”
Tino Pelledri, chairman, Trowbridge County Town Initiative, comments: “I am in full support of this development, and I’m delighted that construction has begun. I think this development is key to the future of Trowbridge town centre. The town desperately needed this.”
Savills acts as the retained agent on St Stephens Place.
The proposals can be viewed online at www.trowbridgecinema.co.uk and local people can follow the scheme’s progress on Twitter – @StStephensPlace.
The Isle of Man’s latest hospitality venue – a stylish new 30-bedroom hotel being built next to Ramsey Park – is on schedule to open in mid-August, bringing 15 to the local area.
Owned by Isle of Man resident Trevor Hemmings, Ramsey Park will be a contemporary hotel with each of the bedrooms having views of Mooragh Park, the lake or the sea, and some having views on both sides. It includes the stylish 50-cover Lake View Restaurant for hotel guests and non-resident diners.The hotel is the latest to come under the Classic Lodges ‘Associate’ hotels umbrella and will be run by the newly-appointed General Manager, Steve Dawson. Steve, a resident of Douglas for more than 30 years, is relishing the challenge of getting the hotel up and running: “I have worked in the hospitality industry for many years,” he says, “but this is the first time I have been involved from the very beginning and it is incredibly exciting to have an input into how the hotel will operate.”
Steve believes that as well as the hotel’s luxury accommodation, style and location, the restaurant will become a destination in its own right: “I am sure that with the fine food we will be serving, and its impressive location on the shore of the lake, the Lake View Restaurant will soon be a favourite for locals and visitors alike,” he says.
Richard Grime, Managing Director of the Classic Lodges chain of hotels, says that Ramsey Park represents a multi-million pound investment for the Group, and into the local community: “We are delighted to be adding Ramsey Park to our portfolio of hotels,” he says.
“Ramsey Park is slightly different in that it is a modern building, whereas most of our current properties are historic properties, but the location, and the quality of service it promises, is entirely consistent with the Classic Lodges brand. I have no doubt that Ramsey Park will become its own modern-day classic.”
The buzz about the new ME by Meliá Hotel in Covent Garden is all about its Foster + Partners design…..but with a destination hotel like this, the devil is in the detail. No matter how striking and inventive the design concept, if the finishing touches don’t meet the same stringent standards the whole effect could be ruined. It’s for that reason that wiring accessories specialist, The Wandsworth Group, was brought on board to provide design-led sockets and switches that would both carry through the design concept and maintain the exacting quality standards specified throughout the hotel. A company with a 108-year track record that still manufactures in the UK, The Wandsworth Group supplies everything from the most traditional to the most contemporary wiring accessories and many installations have stood the test for time for 50 years or more.
Explains Andy Howe, head of sales at The Wandsworth Group, “ME by Melia London is the first UK hotel to be created by the brand and aims to offer a ‘personality-led’ experience in one of the world’s ‘leading capitals of culture and cool’. The wiring accessories are often over-looked as a commodity requirement but here incorporating design-led wiring accessories into the interior scheme in order to maintain the ultra-stylish look was all part of the attention to detail that is obvious throughout.”
The Wandsworth Group has provided wiring accessories from the company’s grid-mounted Series 3 range, ensuring clean lines and an elegant finish with screw-less fittings. White accessories have been selected for use on the white leather padded wall in each room, with matching black accessories used to complement the black wall opposite. For the entrance to the bathroom area, The Wandsworth Group has created bespoke chrome plates to match the chrome door surround and complement the white and black accessories.
Andy adds: “This is not an off-the-shelf hotel so an off-the-shelf approach to specifying the wiring accessories would not have been appropriate. Our UK manufacturing base allows us to design and manufacture bespoke ‘specials’ quickly and with the same quality guarantees that customers can expect across the range: that’s the kind of finishing touch that turns a great hotel into a stylish destination.”
Bank of England Governor Mervyn King said the UK economy doesn’t show “great signs” of recovering from recession. King mentioned the impact of the pound’s appreciation on exports may further dent prospects for the UK economy.Despite King’s comments the pound managed to strengthen against the euro for a fifth day in a row as investors grow more cautious over the outcome of the German court hearing on the Eurozone bailout fund and a surge in UK manufacturing and industrial production in May.
GBPEUR remained above the 1.26 mark opening at 1.2614 and closing off at around 1.2650. The gains continued overnight as GBPEUR hit a high of 1.2677 a level not seen since 2008 during the pound’s dramatic decline at the height of the credit crunch. Although showing signs of being over-bought, 1.2750 has become the big key level to watch out for if a close above 1.2685 is seen.
GBPUSD opened the day at 1.5503 gaining slightly to reach a high of 1.5541 before dropping in the early afternoon to close the session under the 1.55. As GBPUSD continues to trade above the 1.5450 figure, we may see the pair track sideways ahead of the BoE Minutes due out next week, and the official statement should set the tone for the remainder of the month as market participants weigh the outlook for monetary policy. Any moves higher would find significant resistance at the 38.2% Fibonacci level of 1.5683. ________________________________________
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The euro remained under significant pressure in the aftermath of last week’s decision by the ECB to cut interest and deposit rates and reports from yesterday’s Eurozone Finance meeting suggested that Spain is still some way off agreeing terms of a recapitalization package. Spanish Prime Minister Rajoy has to produce a two year deal by the end of this month to receive the €100bn bailout for his troubled banking sector.
EURUSD fell from a high of 1.2329 to a 2-year low of 1.2238, with the momentum of the declines and a lack of significant data to help prop up the euro, we could see further lows across the board. The next support level to watch is the June 2010 low of 1.2233 which with the current trend is just around the corner.
The IMF have warned that even after successful financial reforms and austerity measures Italy may become the next Eurozone member to require bailout funds as government debt yields rise. This morning Consumer Price Index in Germany fell in June to its lowest annual rate in a year and a half showing inflation fell by 0.1% in June from May, and rose by only 1.7% on the year.
Greek Finance Minister Yiannis Stournaras said yesterday Greece will not get fresh bailout money before September, and doesn’t expect to get more time to meet creditor-imposed fiscal targets until the country gets its austerity program back on track.
Strong production data from Sweden has sent the Krona to a near 12-year high against the euro during European trading yesterday. EURSEK fell to as low as 8.5843 its weakest since December 2000 after Swedish industrial production data rose 3.5% in May, easily beating expectations of a 0.6% increase.
China, the world’s second largest economy is predicted to report a slowdown in the second quarter when it releases Gross Domestic Product data on July 13. The country lowered interest rates on July 5 for the second time in a month to stimulate the economy.
Australia’s dollar fell toward a one-week low after data showed imports rose less than forecast in China, the nation’s biggest trading partner. Australian government bonds were little changed, with the yield on benchmark 10-year debt at 3%.
Mercure has recently celebrated the opening of its first hotel in Russia, the Mercure Arbat Moscow. The hotel, which is owned by ARD, is operated by Accor under a management contract. The hotel is ideally located in the city’s historic district in a pedestrian street famous for its artists’ workshops, boutiques, cafés and restaurants. It has 109 rooms, including 18 Privilege rooms and four Suites. The hotel has a restaurant, “La Promenade”, which serves Franco-Russian dishes; a bar; a fitness center and meeting rooms. All of the hotel’s rooms have free Wi-Fi and tea and coffee making facilities.
The Mercure Arbat Moscow is Accor’s twelfth hotel in Russia. The group has been in Russia since 1992 and is now among the top five hotel Group in the Russian market. Accor intends to continue and step up its expansion in the coming years. For the Mercure brand alone, it plans to open two other Mercure hotels in Russia by the end of the year, including one in Sochi, host city for the 2014 Winter Olympics. The introduction of the Mercure brand of non-standardized hotels will enable Accor to accelerate its expansion in this country.
Accor intends to have a network of 50 hotels (nearly 10,000 rooms) by 2016 in the Russia-CIS region. The group currently has 14 hotels (3,500 rooms) in the region in Russia, Ukraine and Turkmenistan. It plans to expand into new countries, notably Armenia, Belarus, Georgia, and Kazakhstan. The Sofitel, Novotel, ibis and now Mercure brands are already established in the region and the group also plans to launch Pullman and Adagio there in 2013 and 2014 respectively.
“The opening of the Mercure Arbat Moscow represents an important step in our expansion in Russia,” explains Yann Caillère, Accor’s President and Chief Operating Officer. “Thanks to our strong brands and distribution network, we are ideally positioned to seize the growth opportunities in this market where demand is growing considerably, particularly in the midscale and economy segments.”
With London in the global spotlight this summer, Hilton Hotels & Resorts, the flagship brand of Hilton Worldwide, prepares to open its latest landmark property, Hilton London Wembley.Situated directly opposite Wembley Stadium – the UK’s largest scheme – and next to Wembley Arena, the hotel opening marks a major milestone in the transformation of Wembley, which aims to turn the area into one of the most thriving parts of the capital and a beacon of sporting, entertainment and architectural excellence.
The new visually stunning 281,650 sq ft, 361-room Hilton London Wembley boasts a number of leading features including 18 suites, a 660-capacity ballroom, 10 state-of-the-art meeting rooms with a Business Centre and boardroom, an Executive Lounge, 200 parking spaces and a LivingWell Health Club with a 12 metre pool, sauna, steam room, whirlpool and 24 hour gym for residents.
The hotel will also offer a spectacular roof bar Sky Bar 9 with space for 150 people through private functions. It is situated on the ninth floor of the hotel with an outdoor roof terrace and views over Wembley Arena and Wembley Way. The hotel will also see a restaurant, aptly named The Association, which can seat up to 280 guests which will feature a modern-British menu.
Adjacent to the Stadium, Quintain has begun construction of a new 280,000 sq ft retail destination – The London Designer Outlet – which will add a fresh dimension to Wembley, bringing high street, designer brands and dynamic restaurant and leisure operators to the heart of the scheme.
John Rogers, vice president operation UK, Hilton Worldwide, said, “Hilton London Wembley is a landmark hotel at the heart of the revitalisation of Wembley which will play a pivotal role in turning the area into a leisure destination of choice. This latest London opening for Hilton Worldwide will increase our presence to more than 30 hotels across the capital and provide a unique and high quality Hilton experience, setting the tone for the future of Wembley.”
Jack Nicholas, general manager, Hilton London Wembley, said, “This is not only a significant hotel for the area of Wembley, which will attract millions of visitors from across the country and beyond but also fantastic gateway to the rest of London. With the West End less than 10 minutes away we anticipate a new breed of savvy guest looking to make the most of how easy it is to get to Wembley, the value against some London hotels and it’s proximity to the rest of the metropolitan area.
“Further, Hilton London Wembley will be a key player in attracting back the much needed conference and events market to the area. With ample facilities to host events and meetings on any scale, Wembley is an attractive destination for business travellers, which is a hub for sport, comedy and music.”
The regeneration of Wembley is central to Brent Council’s aspirations for the borough. Quintain is responsible for London at Wembley regeneration scheme and is transforming 85 acres of former exhibitions lands around Wembley Stadium to create a retail and leisure destination which will deliver people, businesses and economic growth to the heart of Wembley. The main contractor is John Sisk with The Manser Practice as the architect and interior designer for the hotel.
James Saunders, Director of Estates and COO at Quintain said: “The opening of Hilton London Wembley is a significant milestone in bringing people, businesses and economic growth to the heart of Wembley.
“Wembley already attracts 4 million people per year to events at the football stadium and Arena and so the arrival of quality hospitality and conferencing facilities, coupled with other elements of the scheme, namely the London Designer Outlet, will help drive the creation of a new leisure and lifestyle destination which operates 365 days a year and one that is open to local people, day-trippers and tourists.”
The hotel is only minutes from London’s city centre theatre district in the West End and, with its 200 car park spaces on site, is the ideal point to explore greater London and its surroundings such as Windsor Castle, the races at Ascot, a behind the scenes tour of Harry Potter at the Warner Bros. Studio in Watford and historic Oxford.
July sees the launch of a luxurious new collection from the Accents range by Skopos.
Minerva, an opulent, chenille velvet, delivers textural interest and a radiant lustre across 27 fashion-inspired colours. Ranging from must-have neutrals through to a rich palette of jewel-like tones Minerva brings excitement, drama and contrast to hotel and leisure contract interior schemes. Available in an inherent FR curtain/bedding quality – Minerva presents a soft drape and silken handle. As an upholstery quality, with flame retardant Crib 5 backing, Minerva is a durable, heavy-weight contract option delivering 50,000 Martindale rubs.
Both qualities are available with small minimums and short lead-times and offer a contemporary solution at a competitive price point. Customer interest has been evident prior to the official early July launch.
Skopos is an ISO9001 accredited company and has over 30 year’s specialist experience in the design and manufacture of high performance FR contract fabrics for the hospitality sector.
GBPEUR continued to trade above the psychological 1.25 level, opening at 1.2588 and closing the day comfortably at 1.2602. Earlier in the day GBPEUR hit a new three and a half year high of 1.2632 as investors grew increasingly concerned about the Eurozone debt crisis and bought sterling as an alternative to the euro.On the back of Bank of England Deputy Governor Paul Tucker testifying before the treasury select committee yesterday, the US dollar surprisingly lost some of the gains it made towards the end of last week rising from a low of 1.5473 and closing for the day at 1.5508.
The BOE’s Paul Tucker is pushing back at Barclay’s ex-CEO Bob Diamond’s contention that the BOE instructed him to keep Libor low to avoid the appearance of a raging banking crisis. He also told MP’s yesterday that the FSA investigations should be extended to other self-certifying markets such as Gold and Oil. ________________________________________
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EURUSD traded within a tight range yesterday; opening below Friday’s low at 1.2273 and struggled to break the 1.23, closing at 1.2298 in UK trading hours. The next significant resistance lies at 1.2360.
Yesterday, ECB President Mario Draghi said that the recent slowdown in growth in the Eurozone as well as the weakening of inflationary pressures in the area induced the central bank to cut the main interest rate, as well as the deposit and lending rates by 25 basis points at their July monetary policy meeting.
Finance ministers met yesterday and have proposed that the head of the Luxembourg central bank, Yves Mersch, should take a vacant board seat at the European Central Bank.
The EU’s head, Juncker announced that ministers from the 17 Eurozone nations reached a tentative agreement after 9 hours of debating which includes a ‘first disbursement’ of €30bn for Spanish banks by the end of the month.
The timing of the meeting was fortuitous as the yield on Spanish 10-year bonds auctioned yesterday exceeded the key level of 7%, which market experts consider unsustainable.
In Greece the Greek coalition government has won a vote of confidence in Parliament as Prime Minister Samaras told reporters he plans to accelerate privatisations and bring forward much needed reforms to try and stall the slowdown of the economy.
Disappointing economic news from the US, China and Japan have reduced appetite for the Australian dollar, which remains correlated with global growth. We saw sterling move from a low of 1.5167 to a high of the day at 1.5250 yesterday against AUD.
The Beijing Tourism Group (BTG) and international hotel management group GHM have formalised a joint venture partnership and announced plans to launch an upscale resort concept branded Ahn Luh. The partners, together with a third investor, the Great Ocean Group (GOG), said the group’s first properties will debut in the next two-to-three years. This was announced in March at the signing ceremony for the new hotel group’s first project, the Ahn Luh Dujiangyan in Chengdu.Created by BTG Chairman Duan Qiang, GOG founder Whitney Duan and resort visionary Adrian Zecha, who founded Amanresorts and co-founded GHM with Hans R. Jenni, the Ahn Luh brand will encapsulate the best while distilling the essence from the various brands that Adrian Zecha has successfully introduced over the years. Ahn Luh will cater to the world’s most discerning travellers, as well as the growing Chinese tourism market. According to the Secretary of the World Tourism Organisation, China is set to become the world’s most visited country and the planet’s top source of foreign tourists by the year 2020.
Said BTG’s Chairman Duan: “Resorts in the new Ahn Luh brand aim to promote and practice what we have termed the ‘China services’ concept. In essence, this concept marries internationally accepted standards of quality with distinct, local features. The result is the fusing of old-world Chinese hospitality with contemporary elegance to create value added products, while contributing to an eco-friendly environment.” The design at each Ahn Luh property will differ, with each handcrafted resort incorporating elements reflective of the arts and culture of its particular locale.
“The Ahn Luh Dujiangyan is a project where the historical and cultural elements feature prominently given that the Dujiangyan Irrigation System, along with Mount Qingcheng, are placed together on the UNESCO World Heritage List,” said Douglas Zhao, Executive Chairman of the Ahn Luh group. He added, “We’re planning to build on the great architectural traditions that have evolved in China over the past three thousand years, but at the same time, we’re looking to exude the enthusiasm and the innovative spirit that abounds throughout China.”
Ahn Luh is charting future developments in major cities and tourism destinations throughout China. In the pipeline are hotels in Beijing, the Pearl River Delta and Southwest China. Ahn Luh’s hotels will come to market as 50- to 100-room and villa properties, featuring 60-square metre rooms and 120-square metre suites. As a complement to each hotel’s spa, a resident Tai Chi master will manage an on-site Tai Chi Centre.
Other distinguishing features include ‘dian xin’ breakfast, an all-day Chinese-style tapas bar, indoor and outdoor pools, a library and cigar lounge, airport concierges and a fleet of Wi-Fi-enabled cars. Each hotel will also house a retail shop selling regional goods as well as traditional Chinese medicine. Some Ahn Luh properties will include private villas and residences. All will feature meetings facilities that provide intimate spaces for executive retreats.
The British Furniture Confederation (BFC) is to highlight the importance of Britain’s furniture industry during a four day exhibition at the House of Commons.
As the voice of the British furniture and bed industry, the BFC will showcase the excellence and variety of furniture manufactured in the UK in the heart of Westminster from Monday July 9.The aim is highlight the fact that the industry contributes £7 billion to the economy and supports in excess of 100,000 jobs across more than 6,000 companies.
Said BFC chairman Paul von der Heyde: “The BFC has been working with government and parliamentarians to improve recognition of the industry. This exhibition demonstrates the size and contribution made by the industry to the economy and showcases key manufacturers in the UK.”
The high profile exhibition is being held at the Upper Waiting Hall, House of Commons (July 9 to Thursday July 12 between 10am and 6pm) and will be seen by MPs, peers and civil servants.
The exhibition is sponsored by Stephen McPartland, MP, chair of the All-Party Parliamentary Furniture Industry Group and is being supported by a launch event at the House of Commons at 4pm on July 9.
A PR campaign, focusing on attitudes towards ‘Buying British’, will underpin the BFC’s latest initiative with results of a major consumer survey due to be released to online and offline national print and broadcast media to coincide with the start of the exhibition.
Said Paul von der Heyde: “It’s clear from this research that British made furniture still has a lot of support across the UK. While the sector has undoubtedly experienced weaker demand across world economies, there is a loyalty towards British made product that has enjoyed a fillip as a result of royal celebrations, the Euros and forthcoming Olympics.
“UK furniture manufacturing remains a substantial industry and while there is widespread recognition of that fact among the public, our focus during the exhibition will be to reinforce to government and parliamentarians the sector’s significance.”
Morgan Furniture, the market-leading British designer and maker of contemporary contract furniture, has produced around 560 individual items of original seating and tables for the Hotel La Tour in Birmingham. Opened in Spring 2012, the newly-built 4 star hotel represents a new concept for city centre hotels which exalts modern comfort delivered with classic values and levels of service.With contemporary, luxurious and comfortable as watch words for the design brief, Morgan was appointed to entirely furnish the reception, lounge, bar and dining rooms and provide key items of soft seating for all four categories of guest accommodation.
Led by Design Director, Katerina Zachariades, the in-house design team at Morgan create original, inspired collections with distinctive style, eleven of which were selected for Hotel La Tour. Chevy, City, Seville, Siena, Verona, Opera, Hampton, Trevi, Diva, Pastille and Lima. Morgan was also asked to design some individual products based on their collections. One example is the stunning ultra high back Opera 169 chair which creates eye-catching seating groups in the hotel entrance lobby. The form for this originated from the existing Opera 168AU and keeps the original show wood base and flared arm detail. The chair back was extended in height to a towering 1460mm with a vertical button detail. When positioned on bespoke rugs, these chairs provide an elegant and dramatic welcome. The Opera chairs are teamed with oval coffee tables from the Trevi collection.
Also bespoke, are the extended length Hampton sofas with vibrant red bolster cushions which act as informal dividers and provide a chic and original alternative to banquette seating. The Hampton seating collection with its contemporary profile and timeless detailing is a perfect partner for the brand personality of Hotel La Tour and thus, features throughout the communal areas in various forms: as armchairs, armless side chairs, two-seater sofas and modular combinations.
Sterling made gains against euro throughout Friday’s session, opening at the low of 1.2525 to reach a 3 and a half year high of 1.2607 as investors concerned about the debt crisis cut their exposure to the Eurozone.GBPUSD fell to a 1-week low of 1.5472 from the 1.5550 high, this was helped along by positive data from the US labour market. This break should open up support targets around the 1.5400 level. Traders are looking for a close above 1.5550 for any potential upside, strong resistance should contain the pair below 1.5700.
The prices charged by UK manufacturers fell by 0.4% from May to June – the biggest fall since November 2008, a strong signal that UK inflation will continue to fall in the short term.
BOE Deputy Governor Paul Tucker gets the chance today to testify on the Libor scandal that cost Barclays top three managers their jobs and cast doubt on his prospects of succeeding Mervyn King. ________________________________________
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The EURUSD touched a two-year low amid concern an ECB cut in interest rates to a record low won’t be enough to stem the euro bloc’s debt crisis. The move was tempered by speculation the Fed may take further steps to boost growth, including a third round of QE. Analysts are looking towards the US central bank two-day policy meeting on July 31 for a clear outline on further easing policy.
It is expected to be announced this week that the US trade deficit narrowed in May as falling crude oil prices and weakening demand helped trim the import bill.
EURUSD fell from the high of 1.24 to 1.2296 during Friday afternoon trading, falling through support at 1.2298. EURUSD is set for further declines after breaking to a 2-year low. Given the current momentum, the next target is around 1.2150. A short correction of this decline could be triggered if the pair break upside barriers at 1.2352.
The IMF Managing Director Christine Lagarde said they are reducing their estimate for global growth this year on weakness in investment, jobs and manufacturing in India and China.
Italy\’s government has approved a further €4.5bn in spending cuts to the public sector in order to delay a new tax increase until late 2013.
On Friday Nonfarm Payrolls in the US for June improved to 80K from the 77K previous but fell short of the 90K forecast, also US unemployment met projections and held firm at 8.2%.
EURUSD, GBPUSD and GBPJPY continued to track each other very closely in a display of safe haven currency behaviour in a high risk market. US dollar and Japanese yen continue to attract the investors in times of stress in the global markets.
European finance ministers are set to vote today on the new head of the Eurogroup, ahead of Jean Claude Juncker\’s departure on July 17.
Canada saw positive employment data for June on Friday; the unemployment rate saw a marginal improvement with 7.2% against the 7.3% previous and the net change in employment came in at 7.3K down from the previous 7.7K. The Canadian dollar has strengthened against sterling in July, moving from 1.6050 to a low of 1.5710 – the pair is currently trading at 1.5798.
China released it’s consumer price indices this morning at 2.2, which not only fell drastically from the 3.0% previous but also fell short of the 2.3% consensus.
Classic Lodges, the nationwide group of carefully selected high-end hotel properties, has welcomed the well-known and recently refurbished Plough and Harrow Hotel in Birmingham as the latest addition to its Associate Hotels portfolio.One of the oldest hotels in the city, the Plough and Harrow was built in 1704 as a wayside inn and has lately been the subject of extensive renovations in order to restore the traditional building to the highest standards of accommodation. The £750,000 hotel-wide upgrade included refurbishments to 36 bedrooms, the restaurant, the lounge, bars, conference rooms, roofs, heating systems and Internet access, with further work planned in the future to create eight new executive bedrooms in the Grade II listed part of the building.
The hotel’s picturesque appearance and proximity to the city centre has already made it a popular location with guests and particularly for weddings, according to Robert Smith, Managing Partner of the hotel: “We have had more than 40 bookings made by wedding parties this year, and many dates in 2013 are now already booked up.
“Other special events hosted by the hotel, however, are also attracting a growing number of visitors,” he explains, “including our Murder Mystery dinners held each month, which sell out very quickly, and our Murder Mystery weekends, of which there are usually three or four a year and which have proved very popular.”
The Classic Lodges Associate Hotels programme offers independent hotels of a similar size the opportunity to share the Classic Lodges brand and to benefit from sales and marketing support provided by the Classic Lodges headquarters in Chorley, as Richard Smith, Director of Marketing and Associates at Classic Lodges, explains:
“We are absolutely delighted to welcome the Plough and Harrow into the Classic Lodges fold, as its historical provenance and its superb quality are utterly reflective of the Classic Lodges brand and the high standards that we strive to maintain across our portfolio of properties.
As part of the economy brand revitalisation strategy announced last September, Accor UK & Ireland is this month launching two new-design hotels within the new ibis brand family. The hotels mark the first openings for the new ibis budget (previously Etap Hotels) and ibis Styles (previously all seasons) brands in London and are clear examples of the Group’s vision and transformation of the budget hotel segment. On the 22nd June, Accor opened its first new ibis budget hotel in Whitechapel in a ceremony attended by Tower Hamlets Mayor Lutfur Rahman. The 29th June marked the opening of the first new ibis Styles in Croydon follows as the new ibis brand family rolls out across the UK.Ibis budget London Whitechapel has led to the creation of 30 jobs, meanwhile ibis Styles London Croydon has created a further 13 jobs in the local area.
Both hotels follow the announcement of the revitalisation of Accor’s economy hotel segment, and mark the first of the ibis rebranding which will see the three brands of ‘ibis’, ‘ibis Styles’ and ‘ibis budget’ in the UK, based on three key assets: modernity, simplicity and well-being.
Thomas Dubaere, Managing Director, Accor UK & Ireland said, “Last September we announced a change to our ibis offering, to boost each brand’s visibility and market potential. The rebrand is a reinvention of Accor’s economy hotel products and services so they can transcend their market segment and cater for the changes in consumer expectations. Both the new ibis Styles and ibis budget reflect changing consumer expectations by offering contemporary, stylish services at a modest price. These hotel openings mark the first of the ibis rebrand roll-out in the UK, which will play an integral role in the overall Accor UK business, helping us to meet our pledge to increase our portfolio to 300 hotels by 2015.
“Our first new design Ibis budget is situated in London’s up and coming East End – an area which we expect to provide huge growth potential in the coming years. Meanwhile Ibis Styles will operate in Croydon – within easy reach of London Bridge and Victoria as well as the UK’s largest airports – ideal for business or leisure travellers.”
Commenting on the opening of the Ibis budget London Whitechapel, Lutfur Rahman, Mayor for Tower Hamlets said; “I congratulate Accor on the opening of their new ibis budget in Whitechapel. This is a great new venture which displays the strength of local businesses in the community. I believe this will bring new opportunities to the borough and its local residents. I hope for its prosperity and I wish the hotel success for the future”.
Ibis budget London Whitechapel will be the first hotel to feature the new, state of the art cocoon style bedroom concept with LED-lit showers and touch-sensitive reading lights which aims to provide an affordable, ergonomic design solution for the budget hotel segment. A variety of rooms are available for one, two or three people. Julien Lamarre has been appointed General Manager of ibis budget London Whitechapel.
Ibis Styles London Croydon has undergone a complete refurbishment and now features the unique design of a comfortable and relaxed atmosphere with a modern twist – warm colours of the reception area and modern décor of the breakfast, lounge, restaurant and bar area. Pritam Kotian has been appointed General Manager of ibis Styles London Croydon.
The new ibis budget and ibis Styles hotels reflect the transformation of consumer expectations. Consumers now demand modern, contemporary, stylish brands that are also socially and environmentally responsible in all consumption segments. Brands must provide a customer experience that meets new emotional and sensory expectations, including in the budget segment – a message central to the revitalisation of the ibis brand family.
Marriott’s Ko Olina Beach Club, located on a secluded lagoon within the upscale Ko Olina Resort, recently completed its fifth development phase, delivering 132 new two- and three-bedroom villas to Marriott Vacation Club’s largest resort in the Hawaiian Islands. Just a 30 minute drive from Honolulu, the resort is on Oahu’s western shore at 92-161 Waipahe Place in Kapolei. The spacious and luxurious two- and three-bedroom villa interiors are designed with Hawaiian inspired furnishings and fixtures, fabrics and paint in a pallet of yellows, greens and reds contrasting the deep mahogany finish on furniture and cabinetry. Fully-equipped kitchens feature stainless steel appliances and large living and dining areas lead to private balconies with glass paneled railings ensuring incredible views that will thrill every Owner and guest. Villas also include flat panel televisions and DVD players in the living area and bedrooms in addition to a washer/dryer. Three-bedroom villas accommodate 10 guests and complimentary high-speed internet access is available resort-wide.
Marriott’s Ko Olina Beach Club offers the ideal Hawaiian vacation from its perfect beachfront location and private lagoon to multiple swimming pools surrounded by lush tropical gardens and unobstructed ocean views that together create an atmosphere of relaxation.
Dine on-property at LONGBOARDS Bar & Grill for an oceanfront casual setting or enjoy dinner at Chuck’s Steak & Seafood, whose namesake opened the first steakhouse in Hawaii over 50 years ago. Each week, guests can also enjoy our Fia Fia Polynesian Dinner Show featuring Hawaiian cuisine, drums, fire knife dancing and more. The resort has a fitness center featuring Life Fitness equipment and guests can also enjoy championship golf at the Ko Olina Golf Club and the Spa by the Sea at Ko Olina.
This month Travelodge is opening seven hotels with four of the sites being located in London, making the budget hotel chain the largest hotelier in the capital for the Olympic Games. At a combined investment value of £36 million, these new openings (in Balham, Enfield, ExCel and Woolwich) will mean that Travelodge has 54 hotels in London (7,024 rooms) and has hit the target it set three years ago of becoming the largest hotelier for the start of the Olympic Games. These four new hotels have created 117 jobs across London and all new recruits have been hired from the long term unemployed. Travelodge currently employs 1,400 staff across the capital.
Being the largest hotelier now, does not mean that Travelodge will ease up on its development plans in the capital. A further four hotels are set to open after the Olympics with five scheduled to open in 2013, providing a total of 1,015 additional rooms. Travelodge’s development team has also identified another 50 locations across London that would be suitable for a new hotel.
The reason for the expansion by Travelodge is that there is an under capacity of budget hotel rooms in London. A recent report by hotel industry analyst Melvin Gold has identified that in the capital just 17% of the hotel supply is provided by the branded budget sector, compared to over 28% in UK cities such as: Manchester, Birmingham, Leeds and Glasgow.
Grant Hearn, Chief Executive of Travelodge Hotels, said: “To be London’s largest hotel brand at the start of the Olympics is an achievement that everyone in the business is proud of. Our growth strategy for the capital is not however based around the Olympics. We have long recognised that London has a shortage of good quality, affordable hotel rooms, not just in the centre but also in the suburbs.
“We will be opening a further four hotels in London after the Games and five more next year. We are also actively looking for a further fifty sites across the capital to ensure that we can meet the clear demand there is for affordable hotel rooms.”
As well as the four hotels in London, Travelodge is also opening hotels in July at Hemel Hempstead, Cheshire Oaks and Tamworth. These openings will creating 60 new jobs.
Design at Knightsbridge has announced the extension of its Lucia range of seating with the introduction of a series of stylish desk chairs. The new models complement the company’s Lucia fine dining chairs, upright armchairs and side chairs, all created exclusively for Design at Knightsbridge by James A Wright.Distinguished by simple, clean lines, Lucia chairs enhance classical and contemporary interiors alike across a diversity of hospitality environments. With particular applications in hotel bedrooms where dressing tables have been replaced by work stations, the new desk chairs feature either a smart four-star base or a traditional cruciform base, the latter with fixed or variable seat height. Other options include castors or glides: an additional model with stable wire frame legs is also available and all Lucia seating can be upholstered in fabric or hide to suit customer requirements.
Design at Knightsbridge embraces the collections of seating, tables and occasional furniture developed by Knightsbridge Furniture for interior designers, buyers and specifiers operating within the hospitality arena around the world. To view the full portfolio, visit www.design-at-knightsbridge.co.uk
July 4th marked the opening of the CitizenM Bankside, the first property in London for the Dutch hotel group and the second property in the UK. With three more planned for London, the group are confident that their concept of “affordable luxury for the people” will be a big hit for travellers looking to stay in the capital for a competitive rate. Rates are between £99 and £199 per night, even during the Olympic Games period.The hotel is targeted on the tech-savvy business market with its self-service check-in terminals, meeting rooms and Samsung tablets in guest rooms, but will also attract the bohemian traveller with its positioning so close to the Tate Modern Museum and Globe Theatre. The interior design heavily focuses on modern artwork with the public spaces brimming with sculptures and prints. Indeed the exterior boasts a large sign with “Another world is possible” by Turner Prize-nominated artist, Mark Titchner.
In the ‘lobby’ area, guests are able to purchase the art, architecture, photography and fashion books on display or order them from tablets positioned nearby from Amsterdam bookstore, MENDO. This also adds another revenue stream for the group as competition for places to eat in London has always been fierce and the canteen-style set up in place here might not appeal to all travellers, especially if they’ve had a long trip and want to be waited on.
Amsterdam based interior designers, Concrete are behind the CitizenM Bankside, and the practice is no stranger to London, having completed work on the W London in Leicester Square (see our Miniview of it here). ‘W’ has mirror balls and CitizenM has ceiling lights, both showing the youthfulness of the market they are aimed at with their sparkle and sense of fun (see page two for panoramic image of the ‘lounge’ area).
Rezidor has opened its very first hotel in Corsica – the outstanding Radisson Blu Resort & Spa, Ajaccio Bay; owned by the group Ollandini and representing the most significant hotel investment in Corsica for 30 years. The 170 rooms-property is located near Porticcio; right on the glorious Agosta Beach. Guests enjoy a true paradise combining beautiful landscape, minimalist design, great food and wellness, and personalized services. All 170 rooms and suites in this First Class-resort feature aquamarine colours and light wood, and offer private furnished terraces with views of the shoreline or the famous maquis of Corsica’s lush vegetation. The rooms range from 28 to 52 square meters in size (family rooms and rooms for disabled guests are available), and offer Radisson Blu signature services such as business class category with Nespresso coffee machine, and free high speed internet access.
Totally dedicated to beach life, water sports and wellness, the Radisson Blu Resort & Spa, Ajaccio Bay comprises an outdoor pool with kids pool, and a 900 square meter wellness area including indoor pool, hot tub, gym, sauna, hammam, relaxation area, and a spa with 5 cabins. Treatments use products by the prestigious brands Sothys and Crena Care that are based on local island plants. Little guests are welcome at the kids club where the “Very Important Children” programme is offered during school holidays where guest can take part in several activities under professional supervision.
Gourmets enjoy the resort’s main restaurant “A Muvra” with a locally inspired menu including delicious sea bass with grapefruit; pork with local honey; blueberry sorbet and pineapple carpaccio. Two bars complement the offer, serving cool cocktails in a relaxed atmosphere, with stunning sea views.
For those who are combining leisure and business, the Radisson Blu Resort & Spa, Ajaccio Bay has 400 square meters of fully flexible meeting facilities for up to 250 delegates. All meeting rooms have daylight and are equipped with state of the art technology. For catered events, a beautiful seafront terrace is also available.
The Ponza collection offers contract quality furniture with a designer look; these items would be perfectly placed in hotel bedrooms, lounge and bar areas. Part of RHA Furniture’s F4 range, the Ponza collection is extremely stylish; main features include a soft rounded shape, finely stitched leather upholstery and elegantly shaped wooden legs.
Visit RHA’s website to find out more about the Ponza contract furniture collection, where you can download the PDF catalogue and request a quote.
In the absence of top tier data the UK financial services sector held it’s breath in anticipation of Bob Diamond, former CEO of Barclays and only witness to the cross party Treasury Select Committee, speaking on rate libor rate fixing and ethical impropriety across the banking sector.US markets were closed yesterday for Independence Day. Having opened the UK session at 1.5681, by the close of the European market GBPUSD had lost over 0.5%, trading at 1.5587 by 16:30. In pre-market trading this morning GBP had pushed back up above 1.56 though.
UK Services PMI did not match expectations, falling to an eight month low. Figures of 51.3 missed the forecasted 52.9 and show that the broader economic outlook of purchasing managers is dimmer than the 53.3 posted in June.
All eyes are now trained on the Bank of England and the impact of the MPC’s rate decision today. The committee is expected to increase stimulus to the economy by £50 billion, but many commentators have suggested this has been priced into the value of the pound already.
GBPEUR traded within a very narrow range yesterday. The pound reached a peak of 1.2460. EUR only managed to achieve 1.2415 at approximately 13:00 despite month on month retails sales for the Eurozone beating expectations and returning a 0.6% increase. ________________________________________
WORLDWIDE
Industry analysts and banks, including RBS, broadly agree that the ECB is likely to “deliver, with a 25 basis point cut”. Although a cut will not surprise the markets USD saw a sustained rally against EUR moving from a price of 1.26 at 07:00 to end the day at 1.2508.
Germany’s Finance Minister delighted in stating that their robustness coupled with near full employment means Europe’s largest economy should achieve a balanced budget.
Ireland intends to test market confidence tomorrow by engaging in its first bond sale in more than 18 months. The country’s debt office aims to sell 500 million euros of three month T-bills.
Over the course of this morning both France and Spain are conducting auctions of 10yr bonds; this should mean today will see a wider trading range for GBP/EUR than yesterday.
AUD continued to gain in value against the pound and the euro. The effects of the expected QE and rate cuts in the UK and Europe have been compounded by the RBA holding their own rates and an increase in Australia’s retail sales. EURAUD reached a session low of 1.2169 and GBP/AUD bottomed at 1.5145.
Australia’s trade balance posted -0.29B. Expectations were for a -0.51B. These figures, showing that Australia imported more than it exported, saw a slight relaxation in AUD’s strength in Asian trading.
The CEO of Singapore’s DBS Group Holdings says that he expects western central banks to ease policy further in the near term, which will result in increased volatility in Asia. Piysuh Gupta expects further easing in the US and from the ECB to ‘play havoc’ with currency and interest rates.
Seaside towns have a look about them. The ocean close by obviously, but the kind of shops they have – a strange mix of sunhats surfboards and post cards mixed with high end retail to capture the spending of the wealthy second homers. So it is too with seaside accommodation, a mix of jolly B&B’s, engaging boutique style operations, the family resort hotels full of kids, sand and entertainment. Occasional the five stars hotels try to stand above the hubbub and offer a premium experience with high achieving restaurants and urban levels of service.
Plettenberg has all these ingredients complicated by the fact that some 80% of the houses are second homes. This means population can increase tenfold at a weekend, but the hotels bring a steady footfall of visitors all the year around. It has the range, the B&B’s resort hotel on the beach, the boutiques such as the Grand Café with Rooms, and the five star rated Plettenberg.
Main street Plettenberg sits just back from the top of the cliffs and the Plettenberg, the town’s main five star offering, sits off this main drag in a stunning cliff top location.The hotel has glorious unobstructed views across Plettenberg Bay. Like the location of the Marine in Hermanus, on Walker Bay, it offer the opportunity for whale watching (at the right time of year) from your hotel room.
Plettenberg is often regarded as the whale watching capital of the world. It is claimed as such on the South African Tourism website. Certainly this coast is the breeding ground for whales as I found on my visit to McGrath’s sister hotel, and both are on the Garden Route drive along the coast so offer more than this anxiety inducing binocular exercise. Although the whales when they are abundant come right under your bedroom window, timing is all, leaving those whose timing is wrong in desparate search of a plume like whalers of old.
The hotel is actually several buildings, the two main bocks facing each other across the end of the cul-de-sac that ends in the scrub on the cliff top. Both sides have pools, one side being suites the other containing the bars restaurants and bedrooms. The reception desk is immediately inside the door but the lobby is ‘see through’ so the arriving guest, welcomed by a porter, gets an eyeful not just of bar and restaurant but also the vista stretching around the bay beyond.
In 2011 the Western Cape had a poor tourist year. The previous year had been dominated by the World Cup but 2011 saw the region catching the backlash from the European and US recessions. the normal numbers of tourists from the UK diminished as did the flow, previously growing, of visitors from the USA. Overall numbers were down by over 40%. Recovery is underway, but the knock to the cash-flow had put back the refurbishment of the bedrooms that I had hoped to see. So how did this third McGrath hotel measure up against my high expectations, expectations created by the high quality of the Marine and that other gem, the Cellars Hohenort in the Cape Town suburb of Constantia?
The public areas mostly matched those expectations, and whilst they exceeded them in some areas, some were laden with tradition to the point of extinction. The bedrooms, whilst becoming dated, are still stylish and very comfortable. As with many hotels these days though the overuse of scented cleaning materials causes problems for those sensitive to artificial odours. This is not the first hotel, and I’m sure won’t be the last, where here appears to be a misguided belief that using heavily scented items enhances the offering. In a seaside hotel it is the scent of the sea the guest wants, surely? Leaving aside the grumble, the bedrooms are chic – not shabby, but with an old fashioned charm.
Like all McGraths hotels they are beautifully finished and as sophisticated as one would expect from one of the premier Relais & Chateau operators in South Africa. There are two bedroom buildings plus a house that is a fully serviced holiday apartment with its own pool.
There is a small Spa area beneath it with a thriving local trade in several treatment and beauty rooms. The main block of bedrooms are above the main dining area and infinity pool, whilst the second block, on the opposite side of the road, holds the suites with their own infinity pool and sun lounge. The views from the second building are if anything more stunning than those from the first as it has views both ways along the coast. It has its own grand entrance and entrance staircase, coolly stylish, whilst the sun lounge provides a quiet retreat both for those wanting separation from the main hotels and for those from the pool to retire to, escaping perhaps from the wind and the occasional squall.
Differentiation between the suites and the standard rooms is difficult as both have separate living room areas. The suites are much larger, but both are large by European standards anyway, certainly comparable in scale to the rooms in the Rocco Forte Charles in Munich, which average 42m² compared to a typical UK five star of 33m². It is the style of the case goods as much as anything which dates these rooms, fabrics and soft furnishing generally looking fresh and quite contemporary.
Having seen the newer contemporary rooms installed at the Cellars Hohenort, McGrath’s hotel in the Cape Town suburb of Constantia, I know the design potentials of this group, so just maybe I have an excuse to come back another time.
You see my expectations may have been high but this hotel more than met them. The quality of the service and the design of the public areas was again superb. Agreed there are some parts of the public areas that like the bedrooms are a little dated but the design of the bar and restaurant show what can be achieved. Elements of the bar echo those deployed at the Marine in Hermanus, but a house look is no bad thing if it is stylish and temporised by location, as this one is.
You see my expectations may have been high but this hotel more than met them. The quality of the service and the design of the public areas was again superb. Agreed there are some parts of the public areas that like the bedrooms are a little dated but the design of the bar and restaurant show what can be achieved. Elements of the bar echo those deployed at the Marine in Hermanus, but a house look is no bad thing if it is stylish and temporized by location, as this one is. The bar is front lit and whilst it is visible from the reception desk it has private areas for drinkers as well as a large lounge in front. It is adjacent to the restaurant so allows wine service from the bar station and ready access to the cellar. It is also then easy to maintain a drinks service to the terrace all day, including of course a champagne breakfast if required.
The adjacent restaurant is a modern glass cube built into an angle of the building leaving a wide terrace to the infinity pool for diners. As an addition its not problem free, and steps down from the lounge can take an unwary guest into the edge of umbrellas. It is inevitable that there will be areas where old and new don’t quite mesh perfectly, but here as at the other two McGrath hotels the addition is generally managed well by the in-house design team.
Across the group there is a mix of styles in bedrooms with the best being at what I regard as the flagship property, the Cellars Hohenort. Here bedrooms were scheduled to start their refurbishment programme in May 2012, shortly after my visit. However old the schemes may be much of what is there is more than just acceptable. Rooms are large and intelligent design at the outset has given them a longevity not matched by other hotels. However they will need to stretch to match the new rooms coming on stream at hotels such as the Twelve Apostles or POD in Camps Bay both of which are seaside hotels, although without the commanding position of the Plettenberg, both recently refurbished or newly built.
Bathrooms have baths and showers in most, and again are large, so these are less evidently dated than the bedrooms are. They set a standard that is evidently five star, and one which many European hotels flinch from. Despite the operator identifying the need to upgrade the hotel remains very popular because no-one needs to upgrade its strongest selling point, which is its position. Few other hotels have a view of the sea, whether full of whales or not, like the Plettenberg, and the best of these is probably the previously mentioned McGrath hotel, the Marine in Hermanus.
For many years under Liz McGrath’s leadership these Relais & Chateau branded hotels have provided a benchmark for other hotels in the Republic to measure themselves against. The current world slump has held back the refurbishment programmes that would help to keep them there in the increasingly competitive South African market. Despite this, sun sea and whales which have given Plettenberg its existence, will continue to provide a raison d’etre, and reason for the group to continue the investment it has made over the years
I look forward to returning in the future to see the new rooms, and to update you, kind reader…
Another slightly oddball Miniview for you. Along with heritage buildings such as Ightham Mote, Eltham Palace or Standen, Britain has much industrial heritage that can be mined, in a pleasurable way, for ideas for new interiors. In a Hilton many years ago we installed a half scale copy of a Sopwith camel (or was it an SE5, memory fades) on the seat backs of a bar inspired by the Biggles books, showing how images of our historic past and its achievements can be used to create interest and excitement in a new interior. SS Great Britain is one of those sources, and its interiors have been restored, by the Trust that looks after it, with loving attention to detail.The history of the ship is a monument to Victorian chutzpah. Designed by Brunel she made the first steam powered screw driven ‘sailing’ across the Atlantic appearing in New York harbour, to the astonishment of the Colonials, in 1845. Metal built, Brunel’s masterpiece was the largest thing afloat and pioneered many metal technologies, her riveted iron structure a dramatic innovation in shipbuilding. Unfortunately after a year or two she was carelessly run aground. Refloated by Brunel she found a new career as a passenger vessel, carrying troops to suppress the Indian Mutiny, troops to the Crimean War and 700 émigrés at a time to Australia in search of their fortunes.
It in this latter guise that the vessel has been restored. She was brought home in 1970 from her abandonment in the Falklands, and now sits in the same dry dock in Bristol in which she was built. Adjacent buildings have been restored to create a facsimile of the quayside that would have surrounded her ‘back in the day’. The ship itself is fascinating in design and construction, but the interiors give a real glimpse into the society of the latter part of the 19th century and the style in which they lived.
Marriott International has opened its first hotel in Azerbaijan, the 243-room JW Marriott Absheron Baku under a management agreement with Yeni Absheron Oteli LLC. A stunning addition to Marriott International’s luxury JW Marriott global brand portfolio, the hotel overlooks Baku’s famed Azadliq Square and the Caspian Sea.Located in Baku’s most prestigious neighbourhood, in the heart of the business, shopping, and entertainment district, the JW Marriott Absheron Baku is a modern and stylish hotel in keeping with the relaxed elegance and effortless luxury synonymous with the JW Marriott brand. Just 25 minutes from Heydar Aliyev International Airport, the hotel offers easy access and luxury accommodation to business and leisure travellers to Baku.
The 243 elegantly appointed guestrooms, including 15 Executive Studios and Presidential Suite, offer exceptional comfort and stunning views of the Caspian Sea. Boasting natural textures and colors reflecting the Azerbaijan landscape, the rooms also feature the latest technologies, contemporary furnishings and luxurious bed and bath linens.
The hotel features a fully equipped business centre and 3200 square meters of flexible meeting space flooded with natural light, including a spectacular 1,208 square meter column-free ballroom with high ceilings and panoramic views perfect for weddings, banquets or galas. The idyllic spa with sea views sets the stage for a truly relaxing experience, while the 24-hour fitness centre features the hotel’s crowning glory – a rooftop indoor pool overlooking the sea.
Dining at the JW Marriott Absheron Baku takes guests on a culinary journey with four options including the Fireworks Oriental Kitchen where Azerbaijan, Turkish, Iranian and Indian cuisines are masterfully crafted with the spices and flavours of the region, and the OroNero Bar & Ristorante where the delights of fashionable northern Italy from Parma to Milan can be enjoyed in an al fresco setting. The Razzmatazz Cocktail Bar&Lounge offers a sophisticated and sociable setting while the delicatessen style Zest Lifestyle Cafe provides an informal, flexible option for any time of day.
During the last meeting, the Advisory Board of the Worldwide Hospitality Awards 2012, under the presidency of Angela Brav, Chief Executive Europe of the group IHG, reaffirmed the commitment of the primary international hotel groups, represented by their chief executives. The Advisory Board has taken notice of the many candidatures that have already been presented for the 13th edition, and it has stipulated the conditions that will lead to the final selection of laureates.The event’s organizer, MKG group, is inviting hotel groups, brands and independent hotels to promote the exemplary work of their teams by entering the competition.
The categories are listed below. The Advisory Board will once again bestow the Lifetime Achievement Award upon a personality who has marked the international hotel industry.
The editorial staff of Hospitality-ON will present the Grand Prize to the hotel group that is particularly outstanding in terms of development, performance and innovation in 2012. The editorial staff of Hospitality-ON will also award trophies to the three Best General Managers selected per category. Moreover, in the Worldwide Hospitality School Awards, the same team will also elect the Best Professional Success of an alumnus in order to avoid any partisanship of hotel groups.
The Advisory Board has validated the major innovation for the competition of 2012 with the introduction of online voting by readers of Hospitality-ON to select applications that will then be submitted to the international jury to be judged. The vote and classification of the jury will be completed during the ceremony by the vote by participants to determine the final winner.
The date has already been set at the InterContinental Paris le Grand next November 12 to support and congratulate the thirteen winners of the Hospitality Awards 2012.
Leading UK shower designer and manufacturer, Roman Limited, have given their series of sales literature a complete redesign. The striking covers of the new brochures now feature the colours of the Union Jack Flag to highlight that the company manufacture their products in Britain. The new brochures also include some new product launches, as you might expect!The new look brochures have also been revamped in terms of their content with one targeted specifically toward showrooms and the luxury hotel and housebuild sector, titled the Roman Showroom Guide; and one that is aimed more towards the Trade, called Roman Showering Solutions.
The Roman Showroom Guide includes Roman’s more indulgent top end ranges including; the 10mm thick glass Roman Sculptures collection (which previously sat in its own brochure); Roman’s innovative Desire range, which incorporates key enclosure styles, but with a frameless look; and finally their best-selling Orbital Range, which helps overcome space and usability restrictions within the bathroom.
Within the Roman Shower Solutions you can find their high quality, but affordable Collage collection and their contemporary, but practical Embrace range of Enclosures and Bath Screens.
Both brochures still include the Roman Shield Complete Wetroom System; their collection of stylish Shower Valves (which carry the BMA’s Water Label); their essential range of Accessories; and the Roman Wall Shower Walling System.
The Roman Showroom Guide features a stunning blue coloured front cover, the Showering Solutions book incorporates a striking red front cover; and these are then completed by Roman’s Haven brochure, which includes a white cover. When laid out together it is clearly spells out the British Heritage – and a hint of National pride! The colour shades are unmistakable.
IHG has announced the opening of the Holiday Inn Express Maceio Ponta Verde in Brazil. The new-build, 160-room hotel is located one block from beautiful Ponta Verde beach in Maceió, the capital of the coastal state Alagoas, in Northeast Brazil and one of the top tourist destinations in the country. Boasting a modern architectural design, the Holiday Inn Express Maceio Ponta Verde’s interior is decorated with a collection of local artworks and folk-art inspired crafts from the area, blending the richness of Maceió’s cultural heritage with the hotel’s contemporary and fresh style. The property also features an array of amenities, including free high-speed wireless Internet connections throughout the hotel and four meeting rooms, totalling 1,614 square feet (150 square meters) and a 100-person capacity. Other amenities include an outdoor pool, fitness centre and business centre.
Guests will experience a comfortable and smart environment with innovative preferred guest upgrades to ensure a productive stay while travelling for business or leisure. The hotel’s complimentary Express Start® breakfast bar will feature a full range of breakfast items including a rotation of egg and meat selections, biscuits, yogurt, fruit and coffee.
Guest rooms feature comfortable queen or king-sized beds and a sitting area with a lounge chair. Business travellers will find large desks with ergonomic chairs, free high-speed Internet. The SimplySmart™ shower incorporates a proprietary Stay Smart™ Kohler showerhead, signature shower curtain with curved rod, upgraded 100 percent cotton terry towels and a custom line of cinnamon-scented bath products. Guests will enjoy the SimplySmart™ bedding collection where they will find new crisp fresh bedding which features an attractive decorative throw, a medium-weight duvet blanket and soft 200 thread-count sheets.
Latin America’s rapidly rising middle class is leading the hotel industry to strong growth across the region, as international and intra-country travel is significantly increasing. A positive supply-and-demand outlook offers IHG-branded hotels a great opportunity to expand in many potential markets.
The hotel is owned and managed by MC3 Imóveis Ltda., under a license agreement with a company in the InterContinental Hotels Group. The hotel is located at Rua Gaspar Ferrari, 175 Ponta Verde.
As a venue that prides itself on offering its guests the last word in luxury and indulgence, Bovey Castle Hotel and Spa in Devon has naturally chosen a StoneKAST limestone freestanding bath for one of its individually designed Grand State suites.Looking right at home in Room 60 of the five star hotel located in the heart of Dartmoor’s National Trust Park, the Ovale bath from StoneKAST makes a stunning first impression as guests arrive in their accommodation and offers a luxuriously inviting way to relax after a day spent exploring the Devonshire countryside.
Every item of furniture, art and linen in the hotel’s four Grand State suites has been chosen specifically to complement the luxurious hospitality of these lavish retreats. Offering a bathing experience that is as breathtakingly relaxing as the country estate in which it is situated, StoneKAST’s Ovale bath has a natural beauty and organic elegance that help it blend seamlessly into its surroundings.
Made from recycled and refined limestone composite, the Ovale bath also has superior heat retaining qualities, enabling Bovey Castle’s guests to enjoy a long, hot soak without the hotel itself using up vast amounts of energy.
These practical factors, combined with Ovale’s unquestionable aesthetic appeal are what led the design team at Bovey Castle to specify it for the recent refurbishment project. Natialie Clark-Medina, from the hotel, explains: “During the hotel’s refurbishment, we searched for a statement piece that would be the main feature in a large modern bathroom.
“The individuality and luxurious appeal of the hotel are matched by the design of the StoneKAST Ovale bath, which is modern and beautiful. Even within a period property, the Ovale still looks warm and inviting.”
For more information about StoneKAST visit www.stonekast.com or call 0845 504 0474.
Decoratif Design was contacted by Russell Sage Studio to supply the finishing touch to their exquisite room makeovers at the RAC Club in Epsom.Russell Sage Studio creates interiors that are timeless, beautiful, hardwearing and functional. They endeavour to imbue all their designs with a unique story and a strong sense of purpose; they take pride in their passion and commitment, creating highly individual schemes, rich in character and full of exquisite detail. They bring a wealth of experience to each and every project, ensuring that their work is seamlessly executed and beautifully delivered.
Classic Lines – Hotel Room Mirrors
Perhaps this attention detail is why Russell Sage Studio chose Decoratif Design as their supplier for Mirrors at the RAC Club.
As is often the case mirrors are the last item to be fitted, usually just before a deadline for when a room is to be let again or a restaurant opened. In this case it was no different and Decoratif Design was asked to supply a range of high quality gold antique frames with bevelled mirrors made to specific dimensions, and all within a week. This was all possible as Decoratif Design can draw from stock over 1000 different framing styles, stock held here in the UK and assembled in our factory in London.
If you have a requirement for Hotel Room Mirrors we have an endless range of frames that can match any décor. We can make mirrors to order at a very competitive price and are manufactured in the UK, offering a fast and reliable supply.
Sterling strengthened for the first time in 4 days against the euro as investors sought the pound as a safe haven from the big data releases coming out in the Eurozone later this week. GBPEUR got as high as 1.2489 before settling just above 1.2450. Against the dollar, sterling continued to try and push above the 1.57 level and reached a high of 1.5720 in the evening before settling at around 1.568. If the pound continues to rise further it will find resistance at 1.5746 and 1.5786.
The UK’s manufacturing sector continued to remain vulnerable as demand was declining and job losses continued. Though the index was at 48.6 in June, up from 45.9 in May and above expectations, it remained below the 50 mark for the second consecutive month, which is a sign of contraction.
More emergency cash is expected to be pumped into Britain’s economy this week as policymakers seek to cushion the UK from a worsening Eurozone crisis. The BoE Monetary Policy Committee is widely predicted to boost its Quantitative Easing programme by another £50 billion to £375 billion when it announces the outcome of its latest monthly meeting on Thursday. ________________________________________
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The euro lost some of its gains following the positive outcome from the EU summit after Finland joined the Netherlands in saying it opposed granting the European Stability Mechanism. Currently trading at 1.2585, EURUSD is now almost 1% below where it opened after the weekend.
The euro also suffered against commidity currencies and hit a 4 month low against the Australian dollar of 1.2309, EURAUD is currently trading at 1.2350.
As investors turn their attention to the ECB monetary policy meeting on Thursday, the general consensus being priced into the markets is of a 0.25% rate cut. We need to see either a 0.5% rate cut or deposit rates to move from 0.25% to 0% to really see any significant change in EURUSD.
With Independence Day tomorrow in the US, Europe’s rate decision on Thursday and the much-anticipated Non-Farm Payrolls data due to be released on Friday may prompt investors to trade currencies in a narrow-range for most of this week.
Eurozone unemployment rate hit a new record high of 11.1%, from 11% in April. On a yearly basis, unemployment surged by 1.82 million. Strangely however, official figures also showed that Italy’s unemployment rate fell for the first time in sixteen months to 10.1% in May.
The Eurozone Purchasing Managers’ Index for the manufacturing sector remained unchanged in June at 45.1 from the prior month, but stayed slightly above the flash estimate of 44.8, although this had little impact on the Euro.
Activity in the US manufacturing sector unexpectedly contracted in the month of June, the ISM said its purchasing managers index dropped to 49.7 in June from 53.5 in May, with a reading below 50 indicating a contraction in manufacturing activity. Economists had expected the index to show a much more modest decrease to a reading of 52.0.
Following the ISM report the Yen was the top performer, moving from USDJPY 76.75 to 76.37. This suggests that traders were not only seeking safety, but also moving away from the USD. This could be a reaction to signs the Fed may embrace a more accomodative monetry policy in the future.
US construction spending increased by more than expected in May even as revised figures showed stronger than initially reported construction spending growth in April. The initial estimate for construction spending in May came in at a seasonally adjusted annual rate of $830bn, a 0.9% increase from revised April estimates.
Down under the Aussie spiked slightly, up about 45 pips since finding a session bottom at 1.0230 against the USD. The bullish momentum has been driven by an impressive AUD building permits release, which has increased by over 27% in May (exp 5.1%) compared to a revised fall of 7.6 in April.
Australia’s central bank decided to keep the key interest rate unchanged as it awaits the pass through of the effects of the two consecutive rates cuts implemented this year aimed at shielding the economy from the worsening situation in Europe. The RBA held the benchmark cash rate steady at 3.5%
Marriott International has recently announced the opening of Guangzhou Marriott Hotel Tianhe, the latest addition to the company’s signature Marriott Hotels & Resorts brand. Ideally located in the centre of Tianhe Business District, Guangzhou Marriott Hotel Tianhe is adjacent to Pearl River New City – home to the majority of Guangzhou’s international companies and a growing tourist hub.Featuring deluxe city views, four unique dining destinations and 895 square meters of multifunctional event space, the hotel has been carefully designed to cater to the needs of the region’s discerning event professionals, as well as business and leisure travellers. Guangzhou Marriott Hotel Tianhe’s 319 well-appointed guest rooms and suites offer plug-and-play laptop connectivity with television, high speed wireless and wired Internet and premium bath essentials.
There are three expansive atriums located in the hotel, providing a relaxed meeting point for guests above Tianhe’s bustling city centre. The Health Club and heated indoor pool also offer guests the perfect opportunity to unwind.
Featuring 895 square meters of event space, including two pillar-free ballrooms and a multi-function room divisible into five sections, the hotel offers comfortably spacious meeting, banquet or cocktail facilities. All facilities are equipped with state-of-the-art audio-visual systems and Wi-Fi, with dedicated wedding planners also available.
The hotel’s four dining options are destinations in themselves. Man Ho, the hotel’s signature restaurant, serves authentic Cantonese cuisine using only the freshest ingredients from the Pearl River Delta, as well as native ingredients that are characteristic of the Guangdong province’s rich countryside. For intimate dining experiences, Man Ho offers a selection of uniquely stylish private rooms.
Guests can enjoy local and international flavours at City Bistro, an all-day dining restaurant set to impress with its lavish fresh seafood buffet and seasonal à la carte offerings. Fresh coffee, pastries and bites-to-go are also available at Java+, while the fifth floor’s The Lounge provides an elegant setting for guests to enjoy afternoon tea or an evening cocktail.
Gone are the days when a hotel’s primary safety concern was ensuring that their beds complied with CRIB 5 Fire Retardancy standards. Though that is still a prime concern, now there are also bed bugs to consider.Bed bug infestations are a growing problem worldwide and a surge of visitors to the UK this summer will bring with it a surge of bed bugs carried in people’s luggage and clothing. Bed bugs are not just an inconvenience; they will feed on your guests causing nasty reactions and painful rashes, and mattresses are a classic breeding ground for them.
Not only can bed bugs cause an uncomfortable night’s sleep for guests, their presence can fuel serious complaints, bad reviews, compensation claims and costly pest control. As guests spend most of their hotel stay in their beds, they are at a high risk of contact with bed bugs, so it is imperative that hoteliers do not ignore this issue and take the necessary steps to prevent infestation.
Hypnos, the UK’s leading hotel bed maker and proud holder of a HRH Queen Elizabeth II’s Royal Warrant, has partnered with HHL Technology to launch Vital Protection™ – a revolutionary new bed treatment to help eliminate bed bugs.
The fabric impregnation treatment is designed to provide long lasting protection against bed bugs for hotel guests. What’s more – it has been independently scientifically proven to effectively repel and instantly kill bed bugs, as well as dust mites and other bacteria. The treatment can be added to any of Hypnos’ new mattresses ensuring protection before they arrive at the hotel. However, for those hotel owners not wishing to buys new beds, Vital Protection™ can also be used on existing beds, by applying a zipped mattress renovator which encases the whole of the mattress. Vital Protection™ cannot be washed off and is completely invisible and odourless, having no negative impact on the fabric’s fire retardancy properties.
It cannot be stressed enough how important protection against bed bugs will be for hotel owners – particularly this summer – in preserving a brand’s reputation. Recently, a high profile hotel chain in the USA was successfully sued for $382,000 by guests who had been bitten; and entomology studies suggest that Australian tourism has lost $108million a year due to bed bug infestations.
The time for hoteliers to complete their summer checklists is now, in order to avoid any complaints or bad publicity and most importantly – to ensure that your guests have a night’s sleep to remember, for all the right reasons.
Hypnos also offers a bed disposal service, where the company will remove old beds and recycle all the materials. For more information on this service or Vital ProtectionTM, please visit www.hypnoscontractbeds.com or call 0115 973 2180.
Choice Hotels International, Inc., one of the world’s largest lodging franchisors, is proud to announce that it reached 400 domestic franchised units for its Rodeway Inn® brand with the recent opening in Saint Charles, Mo. The Rodeway Inn brand was originally founded in 1964 and acquired by Choice Hotels in 1990. “I am thrilled to be a part of this great, trusted brand, as well as the exciting achievement of 400 hotels,” said Nick Patel, hotel owner and general manager. “The hotel is just a few miles from the charming Old Town Saint Charles area with antique shops and beautiful parks. Guests can hike the scenic Katy Trail, visit Daniel Boone’s homestead and enjoy the many attractions of nearby St. Louis.”
With more than 22,000 total guestrooms conveniently located across the country, Rodeway Inn hotels offer guests welcoming accommodations at great savings. Most properties offer amenities including -free morning coffee, high-speed Internet and premium movie channel.
“We are really proud to celebrate this momentous milestone for the brand,” said Craig Mustard, director, brand strategy. “Staying with Rodeway Inn makes a lot of sense for travelers. With the great savings and free amenities we offer, guests can focus on their experience instead of their wallets. We are excited to work with Nick Patel and his team and continue to expand the brand.”
On Friday, the main focus for the UK was BOE Governor Mervyn King and the Financial Stability Report. A decision was made for banks to raise their capital levels to protect them from any losses if economic conditions in the Eurozone deteriorate. The central bank estimates it has an exposure from UK lenders to vulnerable countries including Greece, Ireland, Italy, Portugal and Spain, totalling £169bn.King also called for fundamental reform of the process by which Libor is set. This is a very significant change and would probably lead to Libor rising far higher during periods of financial stress such as the present. This weekend, Barclays Plc Chairman Marcus Agius resigned after the bank was fined a record £290m for trying to rig interest rates.
GBPEUR hit a high during the trading day of 1.2483 and posted a low of 1.2363, after a brief spell trading just above 1.24 over the weekend markets have opened this morning at around 1.2390. Strong long term support has yet to be broken at 1.2345, the more likely scenario is to break resistance at 1.2435, a close above 1.2496 is the key for further gains.
Since Friday morning, GBPUSD has posted a low of 1.5512 and a high of 1.5712 amid the rise in risk-taking behaviour. Markets have opened this morning at around 1.5660. After breaking to a new high last week, near term resistance is now as high as1.59.
Earlier this morning, a survey undertaken by Hometrack showed that house prices in the UK stagnated in June as global economic gloom curtailed demand. ________________________________________
WORLDWIDE
The euro surged to a high of 1.2692 against the dollar on Friday as the EU agreed to directly recapitalize commercial banks through the European Financial Stability Mechanism, while the group said it would drop the senior loan status for Spain as the government looks to tap up to €100bn from the EFSM.
So far this morning euro has fallen against major peers before data today that may show the currency bloc’s jobless rate climbed to a record and manufacturing contracted, boosting prospects the ECB will cut interest rates this week. Analysts are pricing a 37% chance for a 25bp interest rate cut according to Credit Suisse. German Chancellor Angela Merkel held her ground as she continued to reject Euro bonds, and went on to say that the easing borrowing condition for Spain’s is a special one-time case – curbing speculation that Italy may get a similar deal should it require assistance.
German retail sales fell unexpectedly in May for the second month in a row as consumer spending was weighed down by weak economic prospects and the unresolved Eurozone debt crisis.
French finance minister Pierre Moscovici Sunday cut the government’s growth forecasts for this year and next after the French economy stalled in Q1. Extra taxes and spending controls are to be announced this week in order to stick to deficit-reduction targets.
Eurozone annual inflation remained unchanged at 2.4% in June. Though the rate remained comfortably above the central bank’s target, the ECB feels that there is no inflation risk at present in the euro area.
Canadian GDP rose 0.3% mom in April, up from 0.2% expected. GBPCAD moved from 1.6040 over the weekend, to trade at 1.5936 after the release. Confidence among US consumers declined more than expected in June to the lowest level this year as the labour market showed few signs of improving. The University of Michigan final index of sentiment fell to 73.2 this month from 79.3 in May.
The Chinese manufacturing sector remained in contraction for an eighth consecutive month in June, as output, incoming new orders and employment continued to decrease.
Large Japanese companies were less pessimistic about business conditions in the three months to June and plan to ramp up capital spending ahead, the Bank of Japan’s closely watched tankan survey showed earlier today, as solid domestic demand helps to brighten the outlook for the nation’s economy. The result is likely to take some pressure off the central bank to take further policy steps at its meeting next week, but with recent price data suggesting that the BOJ’s 1.0% inflation goal is still some way off, its easy monetary policy stance will likely remain unchanged.
Three hotels open doors after 25 million euro investment
PPHE Hotel Group Limited, owner and operator of primarily full service upscale and lifestyle hotels including the Park Plaza® Hotels & Resorts in Europe, has announced the official opening of Park Plaza Medulin, Park Plaza Histria Pula and Park Plaza Verudela Pula in conjunction with Croatian hospitality partner, Arenaturist.Working with Croatian construction workers and developers, Park Plaza Medulin was the first to open its doors having received an extensive renovation and rebranding to the Park Plaza® Hotels & Resorts standard and is located within the historical fishing town of Medulin alongside the Medulin Riviera. Park Plaza Medulin underwent a renovation of 118 rooms and reception area, new fitness centre and refurbished restaurant and pool areas.
Situated on the south coast of the Istrian peninsula, Park Plaza Histria Pula and Park Plaza Verudela Pula both received a combined 25 million euro investment. Park Plaza Histria Pula boasts a new reception, lobby, restaurant and conference centre holding 700 delegates making it ideal for both holiday and business travellers. Featuring a Balinese inspired spa and fitness area, Park Plaza Histria Pula overlooks the Adriatic Sea and offers guests’ views of landscaped gardens and beach areas as well as parking and the nearby Yacht Club for dining and diving.
Courtyard Maui Kahului Airport opened its doors this month and welcomed guests to its innovative lobby and room design on the picturesque island. This latest Courtyard is the brand’s fourth in its Hawaii portfolio and the first managed by Marriott International, Inc. Located at 532 Keolani Place, the hotel is owned by R.D. Olson Development and features the Refreshing Business lobby that offers flexible private/public space, media pods, Wi-Fi and a variety of seating zones, ideal for everything from pop-up meetings to social gatherings.The 128-room, 10-suite Courtyard Maui Kahului Airport helps guests stay connected, productive and comfortable. Thoughtfully planned, each room features plush bedding, functional work space with an ergonomic chair, spacious bathrooms, a separate seating area and complimentary in-room high-speed Internet. Individual climate control, 37-inch LCD high-definition televisions and iPod docking stations help add to guests’ comfort.
The open, bright and contemporary Courtyard hotel lobby welcomes guests with vivid contrasting colours, including blue, green, orange and red. The traditional front desk is replaced with separate welcome pedestals to create more personal and private interactions when guests check in and allow staff to show guests the lobby features and provide assistance. Flexible seating options range from a communal table in the middle of the action, to more private media booths with high-definition televisions, to a more intimate, semi-enclosed lounge area.
Dining has also been completely redesigned with The Bistro – Eat. Drink. Connect.®, offering casual, flexible seating; easier access to food and higher quality, healthier menu options for breakfast; and light evening fare, including snacks, cocktails, wine and beer so guests can unwind. Coffee lovers can also enjoy freshly brewed Starbucks coffee. The MarketTM, a 24/7 shop for snacks, beverages and sundries, is always open for late-night cravings or the toothpaste mistakenly left behind.
Throughout the hotel, guests can connect to free WiFi, and there are ample electrical outlets in the lobby to power digital devices. The business library features several complimentary computer terminals, along with a free printer and separate computer stations dedicated solely to printing airline boarding passes and checking flight status. Guests can also take advantage of state-of-the-art meeting space, a well-equipped fitness centre, surfboard storage and a sparkling outdoor pool, complete with relaxing cabanas and a whirlpool.
The two freehold hotels, Club Quarters St Paul’s and Club Quarters Gracechurch, have a combined 468 keys. St Paul’s is the largest with 265 rooms. They are both located within the City of London and focus predominantly on corporate membership business. Both hotels are managed by Club Quarters, a US operator who specialise in business traveller hotels. Chelsfield aim to sell the company that owns both hotels which has the benefit of a stapled-finance package that will be transferred to the buyer. The terms of the financial package are near-on impossible to replicate in today’s constrained debt market.
Dominic Mayes, head of hotels at Knight Frank comments; “Demand for quality central London hotel assets is currently very strong and we anticipate a high level of interest in these assets, in particular from overseas buyers. Both hotels are freehold, in excellent locations and have strong cash flows backed by operator guarantee provisions and offer a purchaser good growth prospects. The stapled debt package included in the sale will also no doubt help.”
Having taken over the management of Aarons Hotel Perth last year, 8Hotels are very excited to have completed a major refurbishment of the property which will now be known as the Pensione Hotel Perth. The refurbishment included new carpets, furniture, bedding and soft furnishings and paint, as well as the installation of reverse cycle air-conditioning and the renovation of most bathrooms. 8Hotels are also about to begin to refurbish the hotel’s conference facility – The Murray Room.
It’s the third property within 8Hotels’ Collection to carry the name Pensione – a name that represents great budget value rooms with style and character that are centrally located. 8Hotels are really proud of the transformation and the Pensione Hotel Perth Team look forward to welcoming you on your next visit to Perth.
IHG (InterContinental Hotels Group) and Grupo Presidente announce the opening of the Presidente InterContinental Santa Fe in Mexico City. The tallest building in the area, the Presidente InterContinental Santa Fe offers stunning views of the Santa Fe area, the Valley of Mexico and the Popocatepetl and Iztaccihuatl volcanoes.The building’s conversion into the Presidente InterContinental Santa Fe represents a nearly $35 million investment with the creation of 200 new jobs during the construction phase and more than 350 jobs added to operate the hotel and its restaurants.
This luxury hotel features 111 spacious rooms, including 26 suites, all furnished with contemporary décor and the latest technology. There are also six meeting rooms for up to 300 people, an art gallery, seven stories of office facilities and six restaurants, including Au Pied de Cochon, The Palm, King Fish, Lucy Shanghai, City Bistrot and the soon to open Bamboo House, that feature cuisines ranging from Mexican and Asian to French.
The hotel hosts a gym, boutique, spa and beauty salon, operated under the L’Occitane brand, a terrace bar, the InterContinental Club Lounge and valet parking service. The property also offers shuttle services within the Santa Fe area.
The Presidente InterContinental Santa Fe is owned by an investment fund and managed by Grupo Presidente under a license agreement with a company in the InterContinental Hotels Group. The hotel is located at Campos Eliseos 218 Piso 11 Polanco 11560 Mexico, D.F.
Hilton Carlsbad Oceanfront Resort & Spa, representing the most significant new resort construction to open in California this year, celebrated its ribbon-cutting and the arrival of first guests on the 21st June.Offering a premier coastal location directly across from Ponto Beach in north San Diego County, Hilton Carlsbad Oceanfront Resort & Spa was designed to offer spectacular views of the Pacific, not only from many of its 215 guest rooms but also from its 25,000 square feet of indoor and outdoor meeting and wedding space. The resort’s stylish Chandler’s Restaurant & Lounge presents the coastal regional cuisine of acclaimed international chef Pascal Vignau, while the 5,600 square-foot Ocean Crest Spa offers an environmentally-mindful spa experience inspired by the healing powers of the sea.
Owned by Wave Crest Oceanfront LLC and operated by Wave Crest Hotels and Resorts, Hilton Carlsbad Oceanfront Resort & Spa has a team of 200 employees in place, while more than 300 individuals were hired earlier as part of the resort’s 18-month construction effort.
Highlights Of Hilton Carlsbad Oceanfront Resort & Spa
Rooms and Suites: Modelling the California Craftsman style, Hilton Carlsbad Oceanfront Resort & Spa features 215 guest rooms including eight suites, many offering panoramic ocean views and all providing travel conveniences including in-room mini-refrigerators, 42-inch flat-panel televisions, complimentary WiFi and complimentary printing. Guest rooms average 415 square-feet in size, with many connecting rooms available.
Chandler’s Restaurant & Lounge: Chandler’s brings innovation and style to the local restaurant scene, featuring coastal regional menus inspired by locally- grown fresh products and highlighted by the cuisine of famed chef Pascal Vignau. The heart of the restaurant is a spectacular bar serving signature cocktails, while a private wine room further complements the spacious ocean-view setting. Multiple terraces and an outdoor fire-pit take advantage of California’s year-round outside dining weather.
Ocean Crest Spa: The 5,600 square-foot Ocean Crest Spa is inspired by the Pacific Ocean and offers seven treatment rooms, a couple’s room with tub and private outdoor relaxation area, and men’s and women’s relaxation and locker rooms. A full menu of treatments features the usage of pure and organic products, with a focus on those derived largely from coastal California plants and growers.
Ocean-View Swimming Pool: The resort’s large saline-treated pool is surrounded by a vibrant coastal desert garden of palms, succulents and grasses enhanced by a children’s splash pool, outdoor fire pits and expansive ocean views.
Hilton Fitness: A spacious aerobic area, free weights and state-of-the-art cardio equipment with televisions highlight this large and modern fitness-facility-with-a-view. Meeting and Wedding Space: 25,000 square-feet of indoor and outdoor meeting space is available for meetings, weddings and events, with many venues offering beautiful ocean panoramas.
The Hotel Roger Williams is reinventing itself with the unveiling of the next generation’s undertaking: The Roger in June of 2012. The repositioning of the hotel property will include a refreshed brand identity, a fully updated food and beverage concept, as well as newly designed guest rooms and public spaces. The rebirth of this iconic Madison Avenue luxury hotel demonstrates the hotel’s commitment to providing the highest level of service, style and comfort to its guests. President of JRK Hotel Group, John Flannigan, assembled New York’s sharpest hospitality minds with the intent to create the next phase of the luxury hotel.“The Roger has always been a haven for travelers seeking sophisticated accessibility and this redesign is part of our continual evolvement in providing the perfect mix of modern amenities in a warm environment.” The Roger is the result of a collaboration of industry veterans including Steven Kamali, notable designers Anna Busta and Annette Jaffe, a menu by acclaimed chef Julie Farias, and cocktails by famed mixologist Johnny Swet.
StevenKamali, one of the industry’s foremost experts working with clients at the intersection of hospitality, restaurants and nightlife, is skillfully advising JRK Hotel Group on the repositioning of its hotel property. Working to rejuvenate the classic brand, the concept of the property passing down from father to son. Inheriting the reigns to the hotel, the Roger’s son offers a modern freshness that seamlessly balances the historical nature of the property while providing a relaxed chic new perspective.
Anna Bustawas commissioned toredesign the lounge and dining interiors. The cavernous lobby is warmed with a rich palette of jewel tones across plush seating vignettes, repurposed brick, vintage photography, antique chandeliers, modern deco accents, and a lux-rounded bar as the centerpiece.Shere-imagined a full bar lounge adjacent to the lobby and an intimate dining space on the mezzanine level resembling a modern American bistro. The upstairs dining room offers a refuge from the humble theatre of the lobby lounge, featuring marble bistro tables and blue striped banquettes wrapped in bright white and blue tiles.
Annette Jaffe of MSM reimagined The Roger guest rooms. A rich palette of deep navy runs throughout the room from elegant, lush suede headboards, geometric curtains, and welcoming armchairs. Jaffe’s custom pieces are used in each of the 194 unique guest rooms to flawlessly complement their surroundings. The Roger experience is enhanced with a plethora of updated amenities, making each room a reinvention of the pied-à-terre.
The stylish new enrichment announces that the Roger has grown up, but the hotel’s unwavering commitment to superior service and unparalleled guest experience remains at the heart of the hotel. Whether for only a night or a long stay, the Roger is the perfect home away from home for the savvy traveler.
The boss of Barclays has insisted he will not resign after staff rigged the key lending rate between banks. And in a letter agreeing to give evidence to MPs, Mr Diamond condemned the inappropriate behaviour of a “small number” of employees who had tried to make profits for their own benefit.As markets awaited the outcome of the EU summit last night trading remained range-bound across the board. The GBPEUR opened the day at 1.2489 reaching a high of 1.2521. Overnight on the back of positive news from the summit we have seen the Euro rally pushing this pair to a low of 1.2380.
GBPUSD Despite some intraday pullbacks, the bullish correction since early June remains alive, and we still see room for additional upside to 1.5780. A risk on environment will be needed to spark this movement and the outcome of the summit last night has provided a good platform to start from. With possible UK quantitative easing ahead Sterling remains vulnerable, any declines are expected to be well supported around 1.5500.
United Kingdom gross domestic product fell by 0.3% in the first quarter of 2012, as was initially estimated following the end of the quarter. The quarter’s GDP was – 0.2% lower than Q1 2011, as opposed to the initial estimation of -0.1%, according to the UK Office for National Statistics. ________________________________________
WORLDWIDE
EURUSD has completed a healthy 1.6% rebound from a day low yesterday of 1.2419 to a high this morning of 1.2620. A close back above 1.2585 will now be required to accelerate gains through 1.2750 and towards 1.3000. A rumoured ECB rate cut next week could limit the rally.
After 13 hours of talks EU leaders have agreed to use the Eurozone’s planned bailout fund to directly support struggling banks, without adding to government debt. Spain and Italy put pressure on Germany to allow the bailout fund to buy government debt in the markets – a measure to contain borrowing costs. Eurozone leaders agreed to begin implementing the decisions by the 9th July. However, it could take until the end of the year before the new money becomes available.
There is still a lot of detail to clear up, but this should be enough to remove some of the EUR negative positions from the market. Even so, the potential for ECB easing next week may limit enthusiasm for the EUR.
The European Union, the European Central Bank, and the International Monetary Fund will send a team to Greece next week to review the country’s finances, a European Commission spokesman said Thursday. The team will be looking for ways bailed-out Greece can make more savings to meet its budget targets for 2013 and 2014.
The number of US workers filing initial applications for unemployment benefits fell last week but remained high, signalling quiet job growth. Initial jobless claims for US decreased by 6,000 to a seasonally adjusted 386,000 in the week ended June 23, the Labour Department said yesterday.
The Australian and New Zealand dollars climbed for a third day as US economic reports eased concern the world’s largest economy is faltering, boosting demand for higher-yielding assets. The AUD headed for its biggest monthly gain versus its U.S. counterpart since January as traders added to bets the Reserve Bank of Australia will keep rates unchanged next week as long as Europe’s debt crisis doesn’t worsen.
Cyprus will continue to talk with Russia and China about financial assistance even after the Eurozone indicated that it will help the country, President Demetrius Christofis said Thursday.
Cedar Court Hotels has embarked on an ambitious programme of investment, starting with the unveiling of eighteen new chic, ergonomically designed, energy-efficient and clutter-free rooms at Cedar Court Hotel Wakefield.The new rooms represent the start of an important period of change for Yorkshire’s largest independent hotel collection. Over the next five years, significant investment will be made into each of its four star hotels in Wakefield, Huddersfield/Halifax, Leeds/Bradford and Harrogate, ensuring that these popular hotels continue to meet and exceed guest expectation.
The completion of the new bedrooms comes in the wake of the hugely successful £25m launch of the five star Cedar Court Grand Hotel & Spa, York.
John Horvath, Cedar Court’s Group Hotel Director, said: “The creation of Cedar Court Grand Hotel & Spa, York signalled the beginning of a long-term project to secure Cedar Court Hotels’ reputation as the best-loved and admired hotel brand in Yorkshire.
“People already knew us as a trusted four-star operator, but now we also have the five-star knowledge, expertise and values which we want to share with all our guests.
“These rooms are beautiful spaces for relaxing, working and holidaying and they reflect our ambition to provide the best possible guest experience at all times.
“The next stage of this project will see our other four star properties take on fresh, new and exciting identities that excite and delight our guests. That we are making such an investment in spite of the harsh economic climate is testament to the confidence we have in the Cedar Court brand and its offering to business and leisure guests alike.”
In response to customer feedback, these new rooms – which were designed by boutique hotel specialist David Brown of Decor – have increased lighting and comfort while retaining energy-efficiency, and have five star quality pocket sprung beds. The competitive rates, free wi-fi and Cedar Court Wakefield’s easily accessible location just off the M1 (J39) should make the rooms an attractive proposition to business guests, thereby helping bring further business to the Yorkshire region.
Set in the picturesque bay of Kissamos in the rustic village of Kastelli, Crete, Vassilis Gialamarakis owner of the Mistral Hotel has announced the completion of six brand new luxury villas.The newly completed You-Phoria Villas have been designed with luxury holiday living in mind, the innovative and architectural features which are apparent throughout give the villas a contemporary yet environmental edge. Making the most of panoramic views, all enjoy privileged hillside positions, commanding stunning views of the Gramvousa peninsula, the turquoise waters of Kissamos Bay and the surrounding lush olive groves.
Well-appointed, each villa has been finished to the highest specification with the emphasis very much on outdoor entertaining, dining and relaxation. COCO Mat furniture has been carefully chosen to provide maximum comfort, and all villas have their very own private swimming pool. Perfect for families or small groups, the villas have two bedrooms each, one reception room and can accommodate up to five people.
There are many un-spoilt beaches within easy reach of the villas, and in the nearby town of Kissamos, charming shops; cafes and quaint tavernas are perfect to while away a few hours. From Kissamos, guests can also take a boat ride to the pirate island of Gramvousa and the world famous Balos Lagoon.
The great location also means that guests are close to many of the highlights of Crete: Ancient Falasarna with its golden sandy beach and Minoan history, Elafonissi (voted one of the top ten beaches in the world) and Samaria Gorge (the longest in Europe) presenting a challenge for those who are serious about their walking.
Prison charity, Fine Cell Work has been given the Queen’s Award for Voluntary Service. Fine Cell Work, founded in 1997, is a social enterprise that trains prisoners in paid, skilled, creative needlework – undertaken in the long hours spent in their cells – to foster hope, discipline and self esteem. It’s a way of life that enables them to serve their time with dignity and purpose and the earnings give them hope, skills and independence. The Queen’s Award for Voluntary Service is the highest honour that can be given to volunteer groups across the UK for outstanding work. It is the equivalent of an MBE for the organisation. It is given for outstanding achievement by groups of volunteers who regularly devote their time to helping others in the community, improving the quality of life and opportunity for others and providing an outstanding service.
The award specifically recognises the work of Fine Cell Work’s south-eastern branch of volunteers, which includes London – the longest standing and most evolved region of volunteering. The volunteers train the prisoners participating in the scheme to achieve world class embroidery and needlepoint, often working in an unfamiliar and unfriendly environment. Fine Cell Work relies almost entirely on its volunteers’ efforts. From the start, they have shown courage and ingenuity. They are Royal School of Needlework or City & Guilds qualified, and are almost all women. They have had to win the trust and respect of prisoners, 75% of whom are male. They teach them irrespective of the offences for which they are in prison.
Acknowledging the award on behalf of Fine Cell Work, its chief executive Katy Emck said, “Fine Cell Work’s volunteers are not just needlework teachers. They are figures of continuity and humanity in dehumanizing places.’
‘After 15 years of the volunteers’ dedicated work in obscure places, fine embroidery in prisons has become not only accepted but in some quarters orthodox. The Queen’s Award for Voluntary Service is recognition that their efforts are at the heart of Fine Cell Work’s achievement and we are exceptionally honoured to gain this award in the Diamond Jubilee year.’
‘In 2011 Fine Cell Work worked with more than 400 volunteers teaching in prison and helping with events, administration and promotion. This is an army of support and it is growing. We are always looking for more volunteering offers.”
“The volunteers treat us like people. They are not in it for themselves,” said a prisoner in HMP Littlehey. These sentiments are often expressed by prisoners, who say Fine Cell Work takes them beyond prison and puts them in touch with normality, making them feel socially useful and that they are “giving back.”
From June 14 to July 15, 2012, Allplan will be looking for young and talented architects. The Allplan Young Architects Award (AYAA) 2012 represents a call for students and young professionals (up to 32 years old) to put forward a specific idea or project that has been designed and/or implemented using the Allplan CAD software. The award offers also an opportunity to reach a broad public. The drafts can be submitted by simply uploading them in a facebook app. A jury of three will nominate the best projects and award them a 3D plot.”With the Allplan Young Architects Award 2012, we want to help prepare young talented architects for their future career. As well as the official award, we also provide the winners with the platform to present their ideas and drafts effectively to an international public”, says Peter Mehlstäubler, Managing Director, Nemetschek Allplan GmbH.
The international competition started on June 14 and runs until July 15, 2012. It is open to all architecture students and young architects at the beginning of their career. We are looking for creative CAD projects designed and/or implemented with Allplan BIM software. The Cinema 4D visualization software from Maxon is also allowed for renderings.
The drafts can be submitted quickly and easily via facebook: www.facebook.com/Nemetschek.Allplan. Allplan provides an app with an upload function for all participants. There are no format templates or requirements. Because AYAA 2012 is aimed at supporting young, talented architects, participants may not be older than 32 at the time of submission. The jury will consist of three experts from Nemetschek Allplan, who will evaluate and rate submissions based on the project idea, quality, and uniqueness. The first three winners will each receive a 3D plot of their draft. All winner projects will also be shown on the websites of Nemetschek Allplan.
It was a fairly quiet day of trading yesterday ahead of the key Eurozone summit starting today as markets await news over the uncertainty surrounding Europe.Sterling rose to a high of 1.2521 against the euro yesterday before falling back and finding support at the low of 1.2475.
Against the dollar sterling reached the morning high of 1.5640 before falling to the low of 1.5546.
The Confederation of British Industry said yesterday that UK retailers reported a sharp rise in sales in June, as the royal jubilee weekend lured shoppers onto the high street, UK mortgage approvals in May fell to the lowest level in a year to 30.2k from 31.2k previously, this adds speculations the BoE will be forced to resort to further QE over the coming months.
UK house prices posted the biggest annual drop since August 2009 in June, as a lack of activity amid a weak economic backdrop and tight lending conditions weighed on home-sellers’ pricing power. ________________________________________
WORLDWIDE
Italy held a disappointing bond auction yesterday selling €9bn worth of 185 day bills at an average yield of 2.95%, up from 2.1% on May 29th. Italy is also scheduled to sell as much as €5.5bn of 5 and 10 year bonds today.
Chancellor Angela Merkel’s cabinet yesterday approved the draft 2013 budget that puts Germany on track to achieve a nearly balanced budget. The government expects new borrowing of about €18.8bn next year and €13.1bn in 2014. The structural deficit, which takes account of swings in the economic cycle, is expected to be about 0.35% of GDP.
The budget committee of Germany’s parliament yesterday approved legislation to create a permanent euro zone bailout fund and ratify the European fiscal pact on improving integration of Eurozone budgets, according to a parliamentary official. The committee sets the stage for parliamentary approval to create the European Stability Mechanism and approve the fiscal pact in a vote by the full assembly Friday evening.
Across several German states annual consumer price inflation in June fell further below the 2% threshold, the European Central Bank’s definition of price stability, giving the central bank even more room to cut interest rates next week.
German Chancellor Angela Merkel closed the door to joint euro-area bonds as a means of lowering Spain’s borrowing costs, saying they are the “wrong way” to achieve the greater European integration needed to stem the debt crisis. US home sales rose to 5.9% in May reaching the highest level of the year so far, showing positive signs the US housing market is recovering.
US Manufacturers orders for durable goods grew by 1.1% in May. Manufacturing has played a key role in the economic recovery, including being a significant source of new jobs. However, job creation in the sector has slowed along with the broader economy in recent months.
The euro approached the lowest level against the dollar in more than 2 weeks ahead of the EU summit falling from 1.2508 before testing the resistance level of 1.2442. The key levels to watch are 1.2585 and 1.2440 respectively with a close above 1.2585 opening the door to a corrective upside of 1.28-1.30.
France is considering a tax on oil companies and gas distributors as it looks for ways to meet budget deficit targets, French government spokeswoman Najat Vallaud-Belkacem said yesterday. France needs to raise around 10 billion euros to meet its deficit target this year. The government has said most of that amount will come from tax hikes.
The yen has climbed 9.5% in the past three months, the biggest gainer among the 10 most traded currencies. The dollar was the second-best performer with a 4.2% advance, while the euro lost 3%, the biggest drop.
The Canadian dollar dropped against most of its major counterparts on speculation dimming prospects for global growth will prevent the Bank of Canada from raising interest rates.
I’m standing outside the WW2 War Memorial at Englefield Green, Surrey, reflecting on the incredible sacrifice that the men and women of the RAF gave in the cause of freedom and justice. How can anyone – or anything – convey the suffering and pain endured by these brave people? It’s hard enough to comment as a human… but as a mirror, I don’t even have the power of words at my disposal.What I do have, however, is the ability to reflect
It may surprise you to learn that mirrors like me can enhance emotional environments and increase people’s awareness and understanding.
Let me explain. Emotions are felt and seen; but rarely by the same person at the same time. You can feel happy, sad or confused, but you don’t often watch yourself feeling those things.
Likewise, we often see people in the grips of an emotion – but we rarely feel the same way.
Bring a mirror into the equation, however, and the dynamics change completely. Watching oneself experiencing an emotion is extremely powerful. If you’ve ever caught a glimpse of yourself laughing, crying or shouting, you’ll know exactly what I mean. There can be no doubt that the feeling is exaggerated when it’s witnessed by you, the protagonist.
But back to Englefield Green. The Second World War saw half a million British deaths, and nearly 400,000 casualties. And that’s just the people serving in the Armed Forces. British Civilian deaths totalled nearly 70,000. It’s shocking, bewildering, powerful and tragic: emotions that register differently for each and every person.
As a nation, our pride and resilience simply can’t be challenged. Now that’s something worth reflecting on.
Available from Volga Linen, Check linen or oilcloth is ideal for creating that summer cottage effect for your b&b or guest house.Available by the metre in a choice of four colours.
Chelsom is delighted to announce that Vanessa Soley-Peters, who is based permanently in Dubai, will now be the company’s main point of contact for the Middle East. After 15 years working for Chelsom in London liaising with many of the top UK and overseas designers on major hotel and leisure projects, Vanessa is looking forward to the challenge of helping to develop the Middle Eastern marketplace.Said Managing Director Robert Chelsom, “We were thrilled when Vanessa accepted the new position of Middle East consultant. She is extremely knowledgeable about the worldwide contract furnishings industry, and I am sure she will be very successful in this role. She has a wealth of design experience in terms of the product itself and the schemes for which we are specified.
“We have already had feedback from clients who are delighted to have a Chelsom representative on the ground in the region attending site meetings and dealing with project matters immediately.”
To contact Vanessa, or for further information on Chelsom in the Middle East please email uae@chelsom.co.uk
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