Posts Tagged :

    Movenpick

    AccorHotels acquires Mövenpick Hotels & Resorts

    1024 683 Katy Phillips

    Deal is subject to regulatory approval, but should complete this year.

    AccorHotels has signed an agreement with Mövenpick Holding and Kingdom Holding to acquire Mövenpick Hotels & Resorts, for a cash amount of €482 million.

    Founded in 1973 in Switzerland, Mövenpick Hotels & Resorts operates in 27 countries with 84 hotels and more than 20,000 rooms, with a strong presence in Europe and the Middle East.

    Mövenpick also plans to open 42 additional hotels by 2021, representing almost 11,000 rooms, focused on the Middle East, Africa and Asia-Pacific. The Group employs more than 16,000 people worldwide.

    AccorHotels says the deal implies a 14.9X 2019e EBITDA multiple before synergies (including transaction costs), and less than 10X pro forma 2019e EBITDA after run rate synergies and committed development pipeline. It also says the transaction will have an accretive impact on Group earnings from the first year.

    The company says Mövenpick Hotels & Resorts will benefit from its loyalty program, distribution channels and operating systems, which will help optimise performance.

    The acquisition further consolidates the AccorHotels footprint in Europe and Middle East and accelerates growth in Africa and Asia. The transaction is subject to regulatory approvals, however, but should be completed during the second half of 2018.

    Sébastien Bazin, Chairman and CEO of AccorHotels, said: “With the acquisition of Mövenpick, we are consolidating our leadership in the European market and are further accelerating our growth in emerging markets, in particular in Middle East, Africa and Asia-Pacific. The Mövenpick brand is the perfect combination of modernity and authenticity and ideally complements our portfolio. Its European-Swiss heritage is a perfect fit with AccorHotels. By joining the Group, it will benefit from AccorHotels’ power, particularly in terms of distribution, loyalty-building and development. This transaction illustrates the strategy we intend to pursue with the opening up of AccorInvest’s capital: to seize tactical opportunities to strengthen our positions and consolidate our leaderships, as well as leverage our growth.”

    Meet the Top 5-Star Hotel Brands in the Middle East

    Meet the top 5-star hotel brands in the Middle East

    1000 500 Daniel Fountain

    Forbes Middle East recently named its list of the top 5-star hotel brands in the Middle East, a group of 20 that was determined based on the status of their hotels in the region.

    At the top of the list is the Swiss hospitality company, Mövenpick, which has 47 five star hotels spread throughout 10 countries in The Middle East, adding up to a total of 12,592 rooms. Mövenpick is followed by Hilton Hotels and Resorts, which has 29 hotels and 9,631 rooms spread throughout eight countries in the Middle East. In third place was Sheraton, which has a hospitality presence in 10 of the region’s countries.

    Meet the Top 5-Star Hotel Brands in the Middle EastForbes reports that to formulate its list, associated researchers screened more than 800 five star hotels from 190 total brands, gathering their information primarily from those hotels’ websites as well as from some of the other major travel websites within the industry. They also determined three benchmarks to use in the ranking: the number of countries that a brand is represented in, the total number of estimated hotels and rooms, and equal weights. This list, however, did not take into account the revenue numbers that were generated by each brand, and it did not calculate the average price of the rooms there. Neither of those financial concerns were factored into this study, meaning that sheer quantity of properties and their spread were the backbone of this ranking.

    Of the top 20 brands that landed on Forbes’ list, there were 375 hotels and resorts that added up to a grand total of 116,454 rooms in 17 total countries, those countries being: Egypt, Saudi Arabia, UAE, Jordan, Morocco, Qatar, Lebanon, Bahrain, Kuwait, Oman, Tunisia, Iraq, Sudan, Syria, Palestine, and Algeria.

    The three most dominant countries were no surprise, with those being Egypt, Saudi Arabia, and the UAE, which is home to the red hot tourism market of Dubai, one of — if not the most — popular markets in the entire world. Hotels and resorts in those three countries take up 66.4 percent of the list, adding up to 349 total properties and 71.9 percent of total rooms, with 83,711 rooms. These are numbers that are nothing to scoff at.

    The other brands represented on the list include: InterContinental Hotels and Resorts, Rotana Hotels and Resorts, Radisson Blu, Le Meridien, Sofitel Hotels and Resorts, Marriott Hotels and Resorts, and Four Seasons, among others.

    www.forbesmiddleeast.com

    Movenpick The Hague

    Design-led Movenpick to open in The Hague

    1000 570 Daniel Fountain

    Mövenpick Hotels & Resorts has signed a lease agreement with one of Germany’s main real estate asset managers, Deka Immobilien, to operate a landmark design-led property in The Hague – a move that accelerates its growth strategy in The Netherlands and Europe.

    The stylish 72-room Mövenpick Hotel The Hague will also mark a new era for the Swiss hospitality firm as it looks to evolve its interior design strategy with concepts that reflect the lifestyle preferences of modern global travellers.

    In keeping with its location, this new hip property promises a contemporary take on quintessentially Dutch motifs and will stand out as one of The Hague”s coolest hotels to date while introducing a new design-focused dimension to Europe”s hospitality landscape. The agreement was brokered with the involvement and advice of DLA Piper, leading agent RV&C/COG, as well as corporate property specialists CBRE and JLL and legal firm Rechtstaete.

    Movenpick The HagueThe Mövenpick Hotel The Hague, which is due to open in the heart of one of The Netherlands” most famous cities in 2019, will introduce leading-edge interior design concepts developed in partnership with premier global design firm Wilson Associates NYC.

    This project will be “unmistakably Dutch” with references to regal motifs and the quirkiness for which Dutch design is renowned. The new Mövenpick Coffee & Wine Lounge concept will be unveiled at this property too, while key hotel features include an all-day dining brasserie, a gym and three meeting rooms, all designed to appeal to modern travellers.

    The Swiss hotel management company, Mövenpick Hotels & Resorts, has signed an agreement with leading real estate developer Nusasiri to manage three properties in Thailand

    Mövenpick launching three new projects in Thailand

    993 565 Daniel Fountain

    The Swiss hotel management company, Mövenpick Hotels & Resorts, has signed an agreement with leading real estate developer Nusasiri to manage three properties in Thailand.

    The three properties will be Mövenpick Residences Ekkamai, Bangkok and Mövenpick Resort Khao Yai, both scheduled to open in Q4 2016, and Mövenpick Resort Mai Khao Phuket which will open in Q4 2017.

    The announcement raises Mövenpick Hotels & Resorts’ total number of hotels and residences in Thailand to seven as the country’s thriving tourism sector continues to drive the global management firm’s portfolio in Asia.

    Mövenpick Residences Ekkamai is the first property under the exclusive Mövenpick serviced apartment brand. It will consist of 160 residences – serviced apartments of one, two and three bedrooms – featuring an all-day dining restaurant, lobby lounge and rooftop lounge and bar. Other facilities include a meeting space, swimming pool and fitness centre.

    Extensive modern resort facilities will be available to guests within a beautiful beachfront setting at Mövenpick Resort Mai Khao Phuket. The property will comprise some 220 rooms and feature a unique F&B proposition including an interactive all-day dining restaurant and an eclectic beach club. Meeting facilities, a kids club, three swimming pools, a fitness centre and signature spa complete the offering.

    Stunning European heritage-inspired exterior design will add a rich sense of grandeur at Mövenpick Resort Khao Yai, featuring 114 rooms comprising hotel suites and two, three and four bedroom villas, with a core selection of facilities set within a landmark European-inspired clubhouse encompassing an all-day dining restaurant, lobby bar, café, meeting space, swimming pool, fitness centre and spa.

    Mövenpick Hotels & Resorts currently has eight hotels in operation in Asia, four of which are in Thailand, its largest market in the region. The Mövenpick Hotel Sukhumvit 15 Bangkok and the 260-room Mövenpick Siam Hotel Pattaya are the latest additions to the group’s burgeoning portfolio in the region.

    Mövenpick Resort & Spa Boracay will open this year, followed by Mövenpick Resort & Spa Jimbaran Bali in early 2017. The Swiss-hotel management company is focused on accelerated regional growth, with the company vision to manage over 30 hotels in Asia by 2020.