Archive for the Property Category

RevPAR slowdown could lead to lack of ‘investor interest’

Some investors could become wary of hotel assets due to RevPAR (rooms revenue per available room) plateaus amid predictions of labour shortages and increasing costs, according to the Hotel Bulletin Q3 2017 published this week by HVS, AlixPartners, STR and AM:PM. The Bulletin reports that in Q3 2017 average growth in RevPAR at 5% was the lowest level since Q1 2016, although the overall long-term outlook for UK hotels remains positive. While these results outpace UK GDP growth, which has averaged below 1% in the same period, the impact of a lower growth environment, global political uncertainty and an increasing

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EasyHotel arrives in Liverpool with £9.99 rooms

EasyHotel, the owner, developer and operator of “super budget” branded hotels, opened its new 78-room hotel at 47 Castle Street in Liverpool. The upper floors of the existing building were converted into the EasyHotel, with the reception on the first floor and a restaurant operated by a third party on the ground floor. The price of the hotel rooms start from £9.99 a night. EasyHotel’s rooms aim to offer comfort by featuring essential fittings, integrated bathrooms and integrated USB ports in bedside tables for easy charging of mobile devices. The brand new hotel is situated within a three-minute walk of

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London’s ‘grandest hotel’ to launch in Hyde Park

On Wednesday 8 November 2017, Royal Lancaster London will unveil its brand new design following an £80m renovation. With the opening of its new entrance, the mid-century property will reinstate its original name ‘Royal Lancaster London’. The concept and design was created by London-based Studio Proof. The entire frontage of the hotel has been remodelled and the exterior architecture now features an eight metre high glazed façade at the opening of the reception. The lobby features a palatial sweeping staircase made of 300 square meters of white Carrara marble. The first stage of the refurbishment commenced in 2015 with the

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Fragrance Group acquires Torquay’s Corbyn Head Hotel

Rew Hotels, represented by international real estate advisor Savills, has sold the Corbyn Head Hotel in Torquay to the Fragrance Group. The three-star hotel, located on the Torquay seafront, boasts 50 ensuite bedrooms, a hotel bar, the Harbour View Restaurant and an outside pool. The Corbyn Head Hotel benefits from close proximity to Torquay, Exeter and Dartmoor National Park. Martin Rogers, head of UK hotel transactions at Savills, said: “We are delighted to have secured a new owner for the Corbyn Head Hotel following a successful 18 years under the current owners. “The UK regional hotel market continues to remain

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Quest Apartments launches in the UK

Quest Apartment Hotels, Australasia-based apartment hotel operator, has marked the start of its UK expansion plans, with the acquisition of its first site in Liverpool’s city centre with a £10m investment. Encouraged by the government’s Northern Powerhouse strategy, the brand has chosen Liverpool as the home of its first property outside Australasia. Established by entrepreneur Paul Constantinou nearly 30 years ago in Melbourne, the 160 strong Quest Apartment Hotels portfolio has made its name by offering a ‘home away from home’ to extended stay business travellers in locations across Australia, New Zealand and Fiji. With 27 properties currently in the

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