Snippets

Four Seasons Eyes Palawan, Bohol, Cebu

Four Seasons is looking at the islands of Cebu, Bohol and Palawan for its first venture in the Philippines, tourism secretary Joseph Ace Durano said. The hotel chain operates in 66 destinations in 29 countries. Durano said there were about 24,000 rooms for tourist accommodation all over the country, there would be 1,000 more by 2007, but 'we have a shortage in room capacity'. "There is now more demand that supply," he said. "It has really become a seller's market for our tourist operators, particularly the hotels in key local destinations." Durano said 90 per cent of foreign visitors preferred to stay in four- and five-star hotels.

Major Hotel-Condo Project To Begin In Alexandria

CB Richard Ellis announced the start of construction of a new luxury hotel and residential hotel complex in Old Town Alexandria, Virginia. The project on completion will contain a 315-room hotel and approximately 85,000 square feet of residential condominiums. The site for this project is next to the Patent and Trade Mark Office (PTO), and across the street from the US District Court at The Carlyle located in Old Town Alexandria, Virginia. Marc Magazine, Lewis Miller and Doug Henkel of CBRE's Hotel development group represented Atlanta-based Regent Partners, the developer who purchased the parcel from Norfolk Southern in 2004. CBRE brought together equity partners, debt sources, hotel affiliations and management agreements to mutually acceptable terms. "The area around the PTO is a growing and continues to exhibit strong demand for residential and hotel rooms. Old Town is the association capital of the world and the relocation of the PTO has brought a flood of law firms and other businesses that serve the needs of the PTO. This hotel is the first hotel to be built in that area in six years, especially in the aftermath of 9/11 when hotel construction nationally came to a complete halt," said Magazine, who heads up the Washington office of CBRE Hotel Development Group. Regent Partners purchased the land in 2004. Prior to the land purchase, the developer spent close to two years planning the project which included working with Norfolk Southern and the City of Alexandria to finalize the required approvals. CB Richard Ellis worked with Regent Partners to bring together the right partnership and financing structure.

Banyan Tree's Angsana Spa To Open In El Gouna

El Gouna resort is to open the first Angsana Spa on the Red Sea. The spa is due to open at the Mövenpick El Gouna Hotel on 3rd July 2005. The new Angsana spa is conceptualised, developed and will be managed by Banyan Tree Spa. Stretching over 500 square metres, the Angsana Spa will offer 12 treatment rooms including six double treatment rooms, one shower room, two single treatment rooms, two deluxe spa treatment rooms and a manicure and pedicure room.

Downtown Holiday Inn Part Of Buyout Talks

Sacramento's downtown Holiday Inn may soon be owned in part by the government of Singapore if a proposed buyout is approved. The hotel at 3rd and J streets is owned by John Q Hammons Hotels Inc. The company has agreed to a buyout offer of USD 24 a share from JQH Acquisition LLC, an investment vehicle for New York investor Jonathan Eilian and GIC Real Estate Inc, a subsidiary of Singapore's investment arm, according to Associated Press reports. John Q Hammons, chief executive of the hotel company that bears his name, has agreed to vote his shares in favor of the buyout. JQH Acquisition already owns a 21.9 per cent share in the hotel company. The buyout still needs approval from enough of the remaining shareholders to create a majority vote in favour. Under the terms of the buyout, Hammons would keep an equity stake in the business and maintain an active leadership role in managing the company's properties. John Q Hammons Hotels owns 46 hotels in 20 states, and manages 14 hotels in seven states. Most of the hotels operate under the Embassy Suites, Holiday Inn and Marriott trade names.