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European
deals at 5-year high. European hotel transactions have reached a five-year high in the first half of
2024, according to the latest data from Cushman & Wakefield. Transactions
in the year’s first half grew to over €11.6 billion, the highest six-month
volume since 2019. In the second quarter, European hotel transaction volumes
hit €5.8 billion, nearly double the level reached at the same time last year.
Luxury and upper upscale hotels represented nearly half of H1 2024 volumes. The
U.K., Spain and France were the most active markets, accounting for €7.8
billion of transactions – over two-thirds of the European total and 62% more
than the first half of 2023. London registered the highest volume of
transactions by city, with Paris, Dublin, Barcelona and Rome completing the top
five. Volume is projected to exceed €20 billion in 2024, driven by increasing
debt liquidity and strong hotel performance.
8,000th
Hilton hotel. Just
over two years after opening its 7,000th hotel, Hilton now has more than 8,000
hotels operating worldwide. Following a series of additions to its portfolio,
including NoMad, Graduate Hotels, Small Luxury Hotels of the World and
Autocamp, Hilton now has a record pipeline of 500,000-plus rooms around the world.
Highlights in the last year include the first Spark by Hilton opening
internationally in the U.K. and the company’s plan to double its lifestyle
portfolio to 700 by the end of 2028.
Grand
Canyon hotels closed. Grand Canyon National Park has suspended all overnight accommodations on
the South Rim, effective August 29, due to a severe water shortage. According
to a release from the National Park Service, the measure comes in response to a
series of “significant breaks” in the 12.5-mile Transcanyon Waterline, the
park’s primary water supply system. All overnight accommodations at El Tovar,
Bright Angel Lodge, Maswik Lodge and Phantom Ranch, operated by Xanterra Travel
Collection, Delaware North’s Yavapai Lodge and Trailer Village, are halted. In
an update on its website, Xanterra said it expects to resume overnight
operations at its affected lodges after September 4. Overnight accommodations
located outside the park in the town of Tusayan, Arizona, are not impacted. Day
use of the park remains normal, with South Rim food and beverage services, the
Grand Canyon Clinic and the Post Office continuing operations.
BWH adds
in Germany. BWH
Hotels is adding to its presence in Germany with two new hotels in Regensburg.
The 56-key Hotel Jakob Regensburg Downtown (now part of the BW Signature
Collection) and the 75-key Hotel Central Regensburg CityCentre (now part of the
Sure Hotel Collection by Best Western) increase the number of BWH Hotels in the
region of Bavaria to three. André Zitzelsberger GmbH operates the two hotels.
The Hotel Jakob Regensburg Downtown boasts a historic building dating back to
1781, which was completely renovated in 2013.
Signet
adds in UK. Molesey,
England-based The Signet Collection has revealed new details for its fourth
location, The Alfriston, on the former site of the Deans Place Hotel in
Polegate, England. The 38-key hotel is scheduled to open in March. Signet
acquired The Alfriston in January after being brought to market at an asking
price of £3.9 million.