Global Hospitality Report (November 16, 2015)

HVS Releases In Focus Hotel Market Report: Denver, CO  
By Brett Russell and Ryan Mark

This year, Forbes named the greater Denver MSA as the “Best Place for Business and Careers,” just one of many accolades the area has received in recognition of Denver’s growth in recent years. Forbes ranked Denver fourth in 2014, and this year’s improvement reflects what many hotel developers and owners have been witnessing—as a market for jobs, business, and development, Denver continues to outperform. This report is part of HVS’ “In Focus” series, which presents local insight, on-the-ground research, and proficient analysis of the top markets in the nation.

Four Key Takeaways | 2015 North America Tourism & Hospitality Investment Conference (NATHIC) 
By Heidi Nielsen, McKenna Luke, MAI and Kirby Payne

Foreign Direct Investment in U.S. enterprises has doubled over the past 15 years, a sign of investor confidence in American real estate, including hotels. The NATHIC event also spoke to what moves will set hoteliers ahead in the current market.

Park Hyatt Set for Thai Launch 

After a delay of 18 months, Thailand’s first Park Hyatt is set to open in the second half of 2016. Both Central Group, the owner of the Park Hyatt Bangkok, and Chicago-based Hyatt Hotels Corporation envision this to be the flagship property of the Park Hyatt brand. Located on the top floor of the Central Embassy, the hotel will have 222 rooms, three restaurants, four bars and a ballroom. Michael Golden, General Manager of the Park Hyatt Bangkok, believes that the property’s F&B operations will generate half its revenue. Mr. Golden further added that the Park Hyatt brand is very optimistic about Thailand’s tourism industry, and 2016 will be a good time to open the hotel and to welcome a full tourism recovery after the Erawan Shrine bombing that affected the industry for a short period.

Azure Buys Radisson Blu Hotel in Hamburg  

Azure Hotels has purchased the Radisson Blu Hotel, Hamburg, in northern Germany, from Invesco. The sales price was not disclosed but is said to be the largest single asset deal in Germany so far this year. The 556-room hotel is adjacent to the city's botanical gardens; at 108 metres high, the 27-storey property is the tallest hotel in Hamburg. Azure had previously owned the hotel before selling it to Invesco in 2009. Azure has secured a 35-year lease extension for the hotel with the City of Hamburg, in a deal that also involves the refurbishment of the Congress Center Hamburg and its surrounding area.


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