Tag: seasons

St Regis Rome unveils its Couture Suite designed by The Gallery at HBA London

More big names flock to the promise of China, as Four Seasons debut in Beijing, Banyan Tree launch in Shanghai, Shangri-La in Changzhou & Anantara on Hainan Island

If the past month is anything to go by, luxury hotels look set to replace luxury goods brands and suppliers as the next big thing in our industry’s M&A space.

In the past few weeks alone, Orient-Express Hotels rejected a $1.86 billion unsolicited takeover bid from an arm of the Tata Group of India, as it emerged that Four Seasons Hotel New York owner, H. Ty Warner, had received a bid for his 368-room luxury hotel in midtown Manhattan for about $900 million from an unidentified Asian buyer (Bloomberg).

The unsolicited bidder is allegedly affiliated with the government of Brunei, the kingdom located on the island of Borneo. Interestingly enough, it is the Brunei Investment Agency who now owns luxury hotel manager Dorchester Collection, which includes the Hotel Bel-Air in Los Angeles and the Beverly Hills Hotel in Beverly Hills.

This follows the sale of the controlling stake in New York’s iconic Plaza Hotel to India’s Sahara Group, the Setai Fifth Avenue Hotel to Hong Kong’s Great Eagle, Palazzo Versace Australia to a consortium of Chinese investors and Florence’s Grand Hotel Baglioni to Qatar Sovereign Fund. And this is just in the past few months.

As consumers demonstrate a preference towards ‘experiencing’ luxury rather than simply ‘owning’ luxury, one expects that investment interest in luxury hotels will continue.

Four Seasons, Beijing

Four Seasons Hotels has launched in Beijing, China, with a 313-room property that includes 66 luxury suites. Marrying Chinese influences and contemporary style, the hotel features a range of Western and Chinese artwork, throughout F&B outlets, the fitness centre, an executive lounge, event spaces and a spa inspired by the architecture of traditional Chinese tea gardens.

Website & Source: fourseasons.com/Beijing

Shangri-La, Changzhou

Shangri-La International Hotel Management, in collaboration with Qiaoyu Group, have debuted the Shangri-La Hotel in Changzhou, in one of China’s top business cities. The 350 guestrooms and suites range from 45 to 225sqm, all featuring floor-to-ceiling windows with unobstructed views of Lake Xihu or the city. The 4000sqm heath club is the largest in Changzhou, encompassing a fully equipped fitness centre, an indoor swimming pool and a spa.

Website: shangri-la.com/changzhou
Souce: HSyndicate

Anantara, Hainan Island

Anantara has arrived on Hainan Island with the launch of its Sanya Resort & Spa, inspired by oriental and Thai design. The property comprises of 122 rooms, suites and private pool villas, alongside four distinctive restaurants and bars. Spa Pool Villas face the ocean and offer a splendid 500sqm of living space, where guests benefit from the service of a personal Villa host.

Website: sanya.anantara.com
Source: Breaking Travel News

Majestic Hotel, Kuala Lumpur

The historic Majestic Hotel is set to reopen its doors in Kuala Lumpur, Malaysia, following an $82.5 million restoration program. The 300-room hotel, owned by YTL Hotels, was built in 1932 and previously housed the country’s National Art Gallery. The restored hotel will become the only Kuala Lumpur based member of The Leading Hotels of The World (LHW) group.

Website: majestickl.com
Source: Luxuo

Hilton Munich Park, Munich

The 484-room Hilton Munich Park has been re-imagined by JOI-Design, to reflect a style that draws upon its idyllic setting along the banks of the Eisbach Creek. Communal spaces feature laser-cut motifs of branches and birds, Tivoli oak wall panels and backlit glass sheets, whilst suites have been outfitted in warm earth and ripe berry tones.

Website: hilton.com/munich
Source: JOI-Design

Outrigger, Phi Phi Island

Outrigger has officially debuted its Phi Phi Island Resort and Spa, following a yearlong refurbishment of the former Phi Phi Island Village Beach Resort. 44 new Deluxe Garden Bungalows have been added, each featuring contemporary design with Thai touches, walk-in wardrobes, flat screen televisions, and iPod/iPhone docking stations. Food and beverage venues have been enhanced, and the gym has been improved.

Website: outrigger.com/phi-phi
Source: Hospitality.net

Westin Grand Central, New York

Starwood Hotels & Resorts has unveiled The Westin New York Grand Central, following a $75 million renovation of the former New York Helmsley Hotel. The brand’s second Manhattan hotel features a complete redesign of the hotel’s interior including 774 spacious guest rooms equipped with Westin’s signature amenities, such as energy-conserving LED and CFL lights, water conserving low flow plumbing and its ‘Heavenly Bed’.

Website: starwoodhotels.com/westin
Source: Luxury Travel Magazine

Hotel Maria Cristina, San Sebastian

Hotel Maria Cristina, a Luxury Collection Hotel in San Sebastian, has reopened its doors following an extensive $25 million, nine-month restoration. 107 luxurious guestrooms and 29 suites were re-imagined by The Gallery at HBA London, dressed in a pastel palette inspired by the fresh spring tints of macaron patisseries, with plush tufted headboards framed in curvaceous mouldings.

Website: starwoodhotels.com/espagne
Source: HBA London

Banyan Tree, Shanghai

Banyan Tree Hotels and Resorts has debuted its urban resort concept in Shanghai, On The Bund. Each of the guestrooms and suites feature an Expediency Box for pick-up and delivery of polished shoes, laundry and dry-cleaning, as well as six different pillow choices and rooms that are refreshed with a different therapeutic scent each day.

Website: banyantree.com/shanghai
Source: HSyndicate

For more in the series of The Latest Hotels, please see our most recent editions as follows:

- The Latest Hotels: Delano, Four Seasons & Kempinski
- The Latest Hotels: Jaipur, Casablanca & Vienna
- The Latest Hotels: London, Seville & Saint-Tropez

Orient Express turns down a $1.8 billion takeover bid from Indian Hotels Group, as mining company Gemfields seeks to acquire fine jeweller Faberg for $142 million

Acquired: Faberg, Gemfields

Gemfields, pending minority investor approval, is to buy luxury jeweler Faberge from one of the colored gem miner’s own shareholders, in a deal valuing the fine jeweller at $142 million. The all-share deal will create an integrated company that mines colored stones and uses the Faberge brand to promote their use in jewelery.

Source: Reuters

Speculation: Sale, Aston Martin

Investment Dar Co., owner of Aston Martin, is said to be in “advanced” talks to sell new shares to investors to boost funding for future development. The Kuwaiti based investment group has received competing bids from Investindustrial and Mahindra & Mahindra Ltd. (MM) for 50% of voting rights and a 40% equity stake.

Source: Bloomberg

Rejected: Takeover Bid, Orient-Express

Orient-Express has rejected an unsolicited $1.2 billion takeover offer from Tata Group’s Indian Hotels Co Ltd and a fund controlled by Italy’s Montezemolo & Partners. The unsolicited bid was 43% higher than Orient-Express’s 20-day average price, a record premium for the industry, and valued the company at the highest earnings multiple in six years for a hotel takeover.

Source: Reuters, WSJ

Acquired: Investcorp, Georg Jensen

Bahrain-based alternative asset manager, Investcorp, has purchased Danish luxury retailer Georg Jensen for $140 million. Hazem Ben-Gacem, Investcorp’s European private equity head, will co-chair Georg Jensen, as saying Investcorp planned to expand the Danish brand in Asia, particularly China.

Source: Reuters

Speculation: PPR, Christopher Kane

PPR, helmed by Francois-Henri Pinault, is said to be in discussions with Christopher Kane, to invest in his eponymous brand. The company is believed to have held discussions with Christopher Kane in which financial backing has been offered. Nothing has yet been confirmed and representatives for PPR and Kane were unavailable for comment.

Source: Vogue UK

Acquired: Vionnet, Goga Ashkenazi

Kazakh oil billionaire Goga Ashkenazi has acquired all outstanding shares in Vionnet to become its sole owner. Ms. Ashkenazi bought into Vionnet in May 2012, but has since purchased all remaining shares from past owners Matteo Marzotto and Marni CEO Gianni Castiglioni.

Source: Elle UK

Boughtback: Derek Lam, Labelux

In a bid to refocus on luxury leather goods and shoes, Labelux has sold Derek Lam back to its founders, Lam and CEO Jan-Hendrik Schlottmann. “We have taken a strategic decision to refocus our activity on luxury leather goods and shoes,” explained CEO Reinhard Mieck said. “We wish Derek and Jan well as we return the leadership into their capable hands.”

Source: Fashionista

Invested: Damiani, India

Damiani is the first foreign investor to get the government approval to invest in the jewellery monobrand retail in India, after working with the Indian government to acquire 51% of Damiani India Pvt Ltd, the company managing the Damiani store in New Delhi at the Oberoi Hotel. Damiani will then agree to establish a joint venture with Indian partners.

Source: Damiani

Confirmed: Karl Lagerfeld, Inter Parfums

Karl Lagerfeld has signed a 20 year worldwide license agreement with Inter Parfums, to create and distribute perfumes under the German fashion designer’s namesake brand. Karl Lagerfeld has since ended its deal with fragrance and cosmetics company Coty BV.

Source: Reuters

Sold: Plaza Hotel, Subrata Roy

Indian billionaire Subrata Roy has purchased a 75% stake in New York’s iconic Plaza Hotel for $575m from US-Israeli retailer El Ad. The remaining 25% of the hotel is being retained by its current owner, Prince Alwaleed bin Talal of Saudi Arabia, via his Kingdom Holding group.

Source: BBC

Rejected: Four Seasons Hotel NYC, Asian Buyer

Four Seasons Hotel New York owner H. Ty Warner has decided not to sell the Manhattan property after receiving an unsolicited bid of about $900 million. “Due to the continued strength in the New York real estate market and impending fiscal cliff, he does not feel that this is an advantageous time to sell this iconic property,” explained Donna Snopek, chief financial officer of Ty Warner Hotels and Resorts LLC.

Source: Bloomberg

Invested: DiamondCorp, Laurelton Diamonds

Laurelton Diamonds Inc., a wholly owned subsidiary of Tiffany & Co., has issued a $6 million term loan to DiamondCorp plc, a South African diamond development and exploration company listed on London’s AIM stock exchange. As part of the loan agreement, Laurelton Diamonds will have the right to purchase production from DiamondCorp’s Lace Mine in South Africa.

Source: WWD

Stake: Luxottica, Salmoiraghi & Vigan

Salmoiraghi & Vigan, a leading Italian company in the eyewear retail sector, has received approximately €45 million from eyewear manufacturer Luxottica. Luxottica will subscribe for newly issued shares of Salmoiraghi & Vigan resulting in a 36% equity stake in the Italian optical retailer, which will retain control of company operations.

Source: 4Traders

Acquired: Four Seasons Toronto, Saudi Prince Walid

Billionaire Saudi Prince Walid bin Talal’s Kingdom Holding investment group has purchased the luxury hotel Four Seasons Toronto, Canada for $200 million. “The transaction was funded by a $130 million mortgage loan while $70 million came from (the company’s) own resources,” Hazem al-Dosari, a Kingdom Holding Company (KHC) spokesman, told AFP.

Source: Al Arabiya

Sold: Ekati Diamond Mine, BHP

Diamond company Harry Winston agreed to purchase BHP Billiton’s Ekati mine in Canada and its marketing operations for the precious stones for $500 million. The deal is expected to close in the first quarter of next year, according to BHP.

Source: The Israeli Diamond Industry

Invested: Aeffe, Emanuel Ungaro

Aeffe has signed an exclusive partnership agreement with Emanuel Ungaro for the production and worldwide distribution of women’s clothing and accessories, as well as the option to acquire a significant minority share of Ungaro’s capital stock on achieving shared goals. The license will be active for a period of 7 years, with the option to renew.

Source: Aeffe

For more in the series of The Latest Investments, please see our most recent editions as follows:

- The Latest Investments: Chanel, Marcolin & Orient Express
- The Latest Investments: Anya Hindmarch, Berluti & Harry Winston
- The Latest Investments: Coty, Porsche & Valentino