The Hotel Times - March 2008 - (Page 35)

TRANSACTIONAL FACTS The Rocco Forte Collection signed a contract to manage a 282-room ﬁve-star property in Abu Dhabi, marking its entrance into the Middle East market. Spotlight New hotel celebrates the Fab Four The Hard Days Night Hotel, the four-star boutique hotel themed with Beatles artwork in Liverpool, England, opened in February. The hotel, an Avantgarde Superior property, is set in the heart of the “Beatles Quarter” in Liverpool, near the world-famous Cavern Club where the Beatles ﬁrst rose to fame. The hotel features 110 rooms, including luxury and deluxe rooms and two penthouses—the specially designed Lennon & McCartney suites. Goa, India, has partnered with Hyatt International for managing and marketing the property. Hyatt Goa will be the ﬁrst ﬁve-star hotel with Hyatt International’s Grand Hyatt brand name outside Mumbai. The project is likely to be completed by second-quarter 2009. Hilton Hotels Corp. signed a management agreement with China Merchants Property Development Co. Ltd. for the Conrad Beijing, which is scheduled to be open at the end of 2010. LATIN/SOUTH AMERICA Radisson Hotels and Resorts Latin America announced the addition of three new hotels to the Radisson system — the Radisson Decapolis Hotel Miraﬂores and Radisson Hotel & Suites San Isidro in Lima, Peru; and the Radisson Summit Resort and Spa in Panama. ELLIE LAYCOCK develop the Holiday Inn Express brand in Saudi Arabia. Twelve new properties are set to open within ﬁve years. The Tourism Development and Investment Co. in Abu Dhabi, United Arab Emirates, chose the Belbadi/Otak International team to lead the designbuild process for its landmark $435 million Al Bateen Wharf Hotel. The 15story, 400-key hotel tower is expected to be completed by the end of 2009. begin in the spring and is projected to be completed by the third quarter. Genting International PLC (GIL) is in negotiations with Singapore Sports Hub (SSH) consortium to develop a 500-room hotel in the country’s Sports Hub project, to be named Premier Park. Construction cost is estimated at US$140.6 million. Lotte Hotel Group is planning to open three hotels in Mapo in Seoul, Gimhae in South Gyeongsang Province and near Gimpo International Airport in Gyeonggi Province. The expansion is expected to include construction of budget and business hotels. DB Realty, which is setting up an $80 million, 320-room ﬁve-star property in InterContinental Hotels Group announced the opening of the 213-room Crowne Plaza Corobici San Jose Costa Rica. The hotel, formerly afﬁliated with Sol Melia, will be the ﬁrst Crowne Plaza in Costa Rica and is owned by Desatur Corobici, S.A. NORTH AMERICA/CARIBBEAN Ian Schrager and J.W. Marriott, Jr. introduced “Edition,” a new lifestyle boutique hotel brand. Properties are expected to open in 2010. Development plans include Paris, Madrid, Costa Rica, Miami, Washington, Chicago, Los Angeles and Scottsdale, Ariz. Starwood Hotels and Resorts Worldwide celebrated the completion of the Sheraton Cable Beach Resort in Nassau, Bahamas. The resort is owned by Baha Mar Resorts Ltd. and managed by Starwood Hotels and Resorts. ASIA-PACIFIC Wyndham Hotel Group announced that the Chosun Tourist Hotel in Chungju, South Korea, will join the Ramada brand following a propertywide renovation and expansion. The hotel will be renamed the Ramada Suanbo Hotel. Construction will www.TheHotelTimes.com March 2008 The Hotel Times 35 http://www.TheHotelTimes.com

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The Hotel Times - March 2008 Business Outlook Editorial Outlook Contents Conference Preview Capital Outlook What's Driving Growth? European Outlook Development Outlook Fractional Outlook Branding Source List Insurance Outlook Brokers Update Brokerage Outlook Lodging's Balancing Act Transactional Facts Lending Outlook Lenders Source List In Closing

The Hotel Times - March 2008

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