The Hotel Times - September 2008 - (Page 8)

TRANSACTIONAL FACTS Stream Spa and Fairmont-branded residences. ASIA-PACIFIC A new Nikki Beach property will open in Thailand in December. The ﬁrst phase of development for Nikki Beach Koh Samui will feature the beach club, pool bar and sunset terrace. Phase two will open by July 2009 with 16 two-bedroom beach and garden villas adjacent to the club. Phase three, set for completion by the end of 2010, will present the ofﬁcial grand opening of the Nikki Beach Resort complex, including 80 one-, two- and three-bedroom condo-hotel units and four penthouse suites. Portman Holdings broke ground on a 151-story, mixed-use tower west of Seoul, South Korea. The property, 151 Incheon Tower, will house a hotel as well as ofﬁces, retail and residential components. It was designed by John Portman & Associates and developed by Portman Holdings in conjunction with Samsung C&T Corp., Hyundai E&C and SYM-Associates. The property is on target to become the second-tallest building in the world and will be part of Songdo Landmark City. CB Richard Ellis Hotels negotiated the sale of Seahaven Resort, the last substantial freehold property on Noosa Main Beach on the Sunshine Coast in Australia. Consolidated Properties partnered with BlueSky Capital and an international consortium of investors to pay $120 million for the property. Starwood Hotels & Resorts Worldwide opened its ﬁrst Four Points by Sheraton in northern China, the Four Points by Sheraton Beijing, Haidian. The hotel’s 355 guestrooms and 177 serviced apartments are located in the heart of Beijing’s technology district. Hotel Missoni to hit Scotland in style The Rezidor Hotel Group will manage a Hotel Missoni, set to open in early 2009 in Edinburgh, Scotland. The 136-room hotel will be one of the ﬁrst city-center hotels in the Hotel Missoni portfolio. Hotel Missoni Edinburgh will feature the brand’s signature Cucina Missoni restaurant, Bar Missoni, a ﬁtness suite and several meeting spaces. Hotel Missoni represents the style of the Italian luxury fashion brand Missoni. The brand will feature Missoni’s signature bold use of color and striking patterns, with each hotel offering a distinct look inspired by the location and culture of the area. Rezidor intends to grow the brand globally, with the initial development focused on Europe and the Middle East. Spotlight MIDDLE EAST/AFRICA The Rezidor Hotel Group also will manage a Hotel Missoni in Kuwait City, Kuwait. The property will open in early 2009 and will feature 200 rooms with views of the Arabian Gulf, the Cucina Missoni restaurant, a Six Senses Spa and rooms for meeting space. C O M P I L E D BY E M I LY H A N N A A S S O C I AT E E D I TO R Want your deal to be listed in transactions? Please include the following items: the property or properties involved; the buyer(s); the seller(s); and the purchase price, if applicable. Send releases to Emily Hanna, associate editor, at ehanna@questex.com. Fairmont Hotels & Resorts will manage Fairmont The Wave, Muscat in Oman. The project is a joint venture between Oman’s Waterfront Investments, National Investment Funds Co. and the UAE-based Majid Al Futtaim Group. The 300-guestroom property sits next to a Greg Norman-designed championship golf course and will offer restaurants, meeting and leisure facilities, a Willow 8 The Hotel Times September 2008 HOTEL MISSONI www.TheHotelTimes.com http://www.TheHotelTimes.com

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The Hotel Times - September 2008 Business Outlook Editorial Outlook Contents In The News Transactional Facts Hurry Up and Wait Capital Outlook Development Outlook Brokerage Outlook International Litigation: Who gets sued? Insurance Outlook Economic Crisis: Stress or Opportunity for Franchisees? Franchise Outlook Ad/Edit Index In Closing

The Hotel Times - September 2008

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