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D&D London unveils hotel proposals
InterContinental hit by
Restaurant operator to branch into accommodation with luxury hotel in Moorgate
'challenging' conditions
InterContinental Hotels Group By Pete Hayman
(IHG) has warned that trading
"remains challenging" after Restaurant operator D&D
posting a 19 per cent fall in London has unveiled plans to
adjusted operating profit for the develop its first hotel after
third quarter. Compared with the securing a deal with property
same period in 2008, the hotel company Frogmore for a new
operator saw a 19 per cent 80-bedroom property in
decline in revenue during the Moorgate, London.
three months to 30 September The 72,000sq ft (6,689sq m)
2009, which has been affected boutique property will be
by a 15.2 per cent decrease in designed by architects Allies
global RevPAR. IHG, which and Morrison, while Conran
operates nearly 4,400 hotels in and Partners – owned by D&D
100 countries, said that it aims London's majority shareholder
to continue its plans to reduce Sir Terence Conran – will
costs through improved design the hotel's interior. The hotel will be designed by architects Allies and Morrison
efficiency in a bid to save Facilities at the hotel will
US$80m (£48m, €53m) by the include a ground floor bar and are also proposed as part of perfect background for both
end of the year. grill, a seventh floor rooftop the hotel development. this hotel and the restaurants."
restaurant and a bar with an Paul White, chief executive Construction work on the
Hyatt Hotels listing
outdoor terrace. officer at Frogmore, said: "This new hotel is scheduled to start
raises US$950m
Meeting and events spaces will be just what this location in 2010, with the property set
US-based hotel operator Hyatt as well as private dining areas needs and D&D has the to open in 2012.
Hotels Corporation (HHC) has
raised US$950m (£575m, €639m)
Legacy reopens
following a successful initial
Seven new hotels for Travelodge
public offering on the New York
Cardiff property
Stock Exchange (NYSE). The Legacy Hotels and Resorts
company operates more than 400 has confirmed it has taken
hotels in 45 countries across the control of the former
world under a number of brands, Quality Hotel in Cardiff
including the Hyatt, Park Hyatt, following the collapse of
Andaz and Grand Hyatt chains. the Real Hotel Company.
HHC's initial public offering is The Warwickshire-based
the 18th to be launched on the company has secured a
NYSE this year, with only one management contract to
other – Banco Santander – run the 95-bedroom hotel,
surpassing the total amount which will now be known Travelodge will add a further 575 bedrooms by the end of 2009
raised by the hotel operator. as the Legacy Cardiff
International Hotel. By Pete Hayman
Rezidor reports third
The hotel becomes the Travelodge is also planning
quarter losses
latest addition to Legacy's Budget hotel chain Travelodge to open properties in Farnbor-
Rezidor Hotel Group has posted portfolio of properties, has unveiled plans to open ough, Hampshire, Macclesfield,
losses of €6.1m (£5.35m)for the which includes hotels in seven new sites across the UK Cheshire and Norwich, with the
third quarter of the year and Derby, Stratford, Chester- by the end of 2009 as part of a chain aiming to recruit all new
warned that the difficult field and Jersey. £22m investment programme. staff through its partnership
business climate will continue Legacy also announced A further 575 bedrooms will with Job Centre Plus.
for the near future. For the nine that the Cardiff's Royal be added to the company's Two of the hotels will also
months to September to 2009, Hotel has been handed existing portfolio as part of the contribute towards Travelodge's
revenue decreased by 16.9 per over to Bespoke Hotels, scheme, which will see new bid to open 55 new sites in
cent, or €100.1m (£89.7m), and following a separate hotels open at Bournemouth, seaside resorts as part of a
the total loss after tax was management deal. Dorset; Liverpool; Edinburgh £150m strategy to regenerate
€27.9m (£24.9m). and Newquay, Devon. coastal towns in the UK.
8 Read Leisure Opportunities online www.leisureopportunities.com/digital © Cybertrek 2009
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