FRHI to Open Seven Properties This Year
FRHI Hotels & Resorts will open seven properties and 1,300 rooms this year across three brands in such destinations as Russia, Turkey, Saudi Arabia, Indonesia and the UAE.
FRHI is the parent company of Raffles Hotels & Resorts, Fairmont Hotels & Resorts and Swissôtel Hotels & Resorts.
"Expansion is a key strategic priority at FRHI, and we have aggressive development plans in place to achieve our projected target of 50 percent growth over the next five years," said Michael Glennie, president and COO of FRHI in a statement. "Growing our brands with the right product, in the right markets is a key part of our development strategy, so we're very excited to be entering or increasing our presence in a number of top worldwide locations this year."
The 166-room Swissôtel Sochi Krasnaya Polyana and 203-room Swissôtel Sochi Kamelia will open in Russia for the 2014 Winter Olympic Games in Sochi. Swissôtel Sochi Krasnaya Polyana, is approximately 30 from the center of Sochi. The Kamelia is a beach resort.
The Swissôtel Bodrum Beach in Turkey, with 66 suites and 72 private residences, is set near the center of Bodrum and near the airport. It will feature indoor and outdoor pools, several restaurants and a Pürovel Spa & Sport.
The 287-room Fairmont Riyadh, Business Gate in Saudi Arabia is part of a new mixed-use development project including a convention center and commercial real estate space. In addition to 287 rooms, it will include a Fairmont Gold, the brand's hotel within a hotel product.
The Fairmont Ajman in the UAE, with 252 rooms and suites, will front the Corniche, which is 820 feet of beach. It will feature an array of food and beverage options along with 21,528 feet of meeting space.
Raffles Istanbul (pictured above) will be part of one of Turkey's first mixed-use projects, the Zorlu Center. It will feature 130 rooms and 51 suites, a 12,916-foot ballroom, two restaurants and two bars, including one that takes its inspiration from the Raffles Singapore's famed Long Bar.
Raffles Jakarta, with 180 rooms and suites, will feature all-day dining restaurant, a Chinese restaurant, bars, lounges and 26,910 feet meeting space. It will be set in the central business district and also feature a Raffles Spa.
Over the next five years, FRHI plans to expand in Russia, Indonesia and. FRHI said it remains focused on international expansion for all three brands, focusing on such markets as Europe, Asia, the Middle East and Africa.
Starwood Sells St. Regis Bal Harbour Resort to Qatari Company
Starwood Hotels & Resorts sold the 207-room St. Regis Bal Harbour Resort in Miami to Al Rayyan Tourism Investment Company, a subsidiary of Qatar-based Al Faisal Holding Company, for $213 million.
Starwood said the sale is part of the company's asset-light strategy. It will continue to manage the 27-story property, which will remain under the St. Regis flag.
"The sale of this trophy asset marks another step forward in Starwood's pursuit of an asset-light strategy as we look to sell owned real estate at the right time to the right owners to create value for our shareholders," said Simon Turner, president of global development for Starwood in a statement.
The hotel houses Jean-Georges Vongerichten's J & G Grill; a 14,000-foot Remède Spa; two ocean-view pools; and 11,200 feet of meetings space.
Marriott Signs Definitive Agreement to Buy Protea Hotels
Marriott International, which in November signed a letter of intent with South Africa's Protea Hospitality to buy Protea Hotels' three brands and management company, said it has inked a definitive agreement with Protea.
Marriott will pay 2.02 billion rand, or approximately $186 million at current exchange rates.
The deal will almost double Marriott's distribution in Africa to more than 23,000 rooms. Protea's management business operates or franchises 116 hotels through three brands. It operates 10,148 rooms in South Africa, Malawi, Namibia, Nigeria, Tanzania, Uganda and Zambia.
Under the agreement, Protea Hospitality Holdings will create a property ownership company to retain ownership of the hotels it currently owns. It will enter into long-term management and lease agreements with Marriott for these hotels.
Melia CEO: 2013 Was a Record Year
Last year was a record year for Melia, with more than one hotel opening every two weeks, said Gabriel Escarrer, the company's vice chairman and CEO.
This year the company will open the Melia Vienna- the company's first hotel in Austria -- and Gran Melia Xian in China.
Other Melia hotels set to debut in 2014 include the Melia Jinan, China; Melia Danang, Vietnam; Melia Jamaica; Melia Paulista and TRYP Belo Horizonte in Brazil; Innside Wolfsburg, Germany; and Melia Dunas, Cape Verde.
Melia has 54 hotels in the planning stages, including 25 in Europe, the Middle East and Africa, 20 in the Americas, and nine in the Asia-Pacific region. Escarrer said emerging nations will play a pivotal role in the company's growth, but not at the expense of traditional markets.
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