Market information from Pandox

Market information from Pandox

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Market information from Pandox

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Market information from Pandox

Letzigrund in Zurich (above) and Stade de Genève in Geneva (below) were two of the plac...
Market information from Pandox

            Pandox market barometer
Market information from Pandox

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Market information from Pandox

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Pandox Upgrade - Nr 2 2008 (Eng)


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Pandox Upgrade - Nr 2 2008 (Eng)

  1. 1. PA N D O X NO. 2 • 2008 MARKE T I N F O R M AT I O N F R O M PA N D O X ONE OF THE LEADING HOTEL PROPERTY COMPANIES IN EUROPE Strong half-year despite increase in supply Hotel room of the future without boundaries
  2. 2. Market information from Pandox News Poorer times ahead? The value of listed hotel shares has fallen by more than 50 percent the last year. At the same time, hotel companies’ profits are rising and several major companies continue to announce aggressive growth plans. What can the capital market see that has not yet happened? First of all, the stock market’s time-perspective is future oriented. One believes in poorer times ahead, while results presented by hotel companies are a summary of the past. Most people know this, but what is pressing the shares to today’s low levels? If one studies various analyses performed on hotel companies, one can see within the hotel world that investors are expecting significantly changed demand within the hotel sec- tor. As a consequence of the slowdown of the global economy, lower demand is expected for business travel and meetings. Some people believe that greater environment consciousness will imply more restrictive travel policies for many companies, which could dampen demand even further. March Home Properties. Together it will be a 205-roomed hotel. The vendor is Some analysts also believe that demand within the tourist segment will fall, GE Real Estate. Pandox signs a revenue-based lease partly due to greater anxiety about the future with a risk for unemployment and with Scandic for the operation of falling house prices. Hotell Skogshöjd in Södertälje – a On top of all this comes the effects of new hotel capacity – which does not The joint-venture company HHR Euro hotel with 225 rooms acquired by affect demand as such but decreases RevPAR as a consequence of lower CV acquires Crowne Plaza Amster- Pandox in the spring of 2007. room occupancy. Furthermore, there is reason to believe that lower revenues in dam for EUR 72 million. InterConti- the hotel sector will mainly come from lower prices – leading to lower efficiency nental Hotels will continue to manage and a greater decline in profits. the hotel under a new agreement. The Justified autumn pessimism … April new owners plan a refurbishment pro- gram of EUR 17 million. The analysts’ pessimism is therefore reasonably justified. The question how- Scandic takes over the operation of ever is whether the capital market has perhaps overreacted. If one looks at the previous Park Inn Stora Hotellet Sweden, the situation looks stable while Stockholm has a slowdown in growth, Accor sells Sofitel The Grand in in Nyköping. The hotel, which has which is similar to the pattern of other major European hotel markets. The year Amsterdam for EUR 60 million. The 9 rooms, will be called Scandic 200 has so far been surprisingly strong with high growth at the beginning of the hotel will undergo a refurbishment Nyköping City and will be Scandic’s year. The summer has been stable and most hotels have increased their reve- program of EUR 32 million and simul- second franchise hotel in Sweden. nues compared with 2007, which in itself saw a record summer. On the other taneously be re-profiled to a Sofitel hand, the autumn looks like a roller coaster. September will be very strong with Legend. Accor remains with 40 per- opportunities to increase prices, but here after the situation looks more uncer- cent ownership and signs a 25-year tain. There is a risk that we will see a decline in RevPAR in the last quarter. management agreement. … but no urgent crisis Whitbread adds six new Premier Inn On the positive side, it looks like the inflation is on the way down – which should Arora International signs a franchise in London. Three of the hotels are imply lower risk for new increases in interest rates. Another strength is that most agreement with Accor and re-profiles acquired from The Real Hotel Com- hotel companies have built up strong financial muscles in recent years. So with the Renaissance Hotel at Gatwick to a pany and the other three will be built today’s available information, a slowdown in the economy should not imply an Mercure hotel. in Waterloo, Ealing and Old Street. urgent crisis for the hotel industry. But – the negative scenario could be drawn out in time. The previous economic decline in 2001 took more than two years to level out. We should perhaps get used to the idea that it will take longer this time. Park Plaza Hotels enters into an agreement with Ferens Management June Sincerely yours for the operation of about 20 new Anders Nissen Hilton Hotels Corporation opens a hotels in Russia. The hotels will be hotel at Madrid’s airport. The 24- located in large Russian cities. PS roomed Hilton Madrid Airport will be It has been a tough time for those of us who love sport. First we travelled to Aus- the group’s fifth Spanish hotel. The tria to watch Sweden be beaten in the European Football Championships. And establishment is part of the plan to Travelodge acquires six hotels with a then the Swedish handball team crash-landed against Iceland, thus not qualify- open 50 new hotels in Spain and total of 719 rooms in Edinburgh, Bath, ing for the Olympic Games in China. Followed by most of the medal hopes at the Portugal over the next five years. Newcastle, Coventry, Oldham and Olympic Games ending in shame. For Sweden, it was the worst Olympic Games Stevenage. The vendor is Menzies for more than 100 years, so now – to use hotel market terms – the downfall Group together with a private invest- should have reached its lowest level and that brighter times are now ahead of ment company. us. The question is in which sport? Did I hear someone whisper warping … Rezidor Hotel Group signs a franchise agreement for a new Park Inn in Pandox Upgrade – market informa- Graphic design and production: May Papenburg, Germany. The hotel will open in the autumn of 200 and con- tion from Pandox – published n3prenör tain 101 rooms, a restaurant, confe- approximately 3 times annually. Scandic signs an agreement for a new Photo: Ulf Blomberg, Shutterstock rence facilities and a wellness centre. hotel in Haugesund in Norway. The Editors: Anders Nissen, and others. opening is planned in the autumn of Anette Österberg, Jill Jansson 2009. The total investment will Printer: Pandox AB amount to NOK 200 million. P O Box 5364 Jernström Offset, Stockholm, July September 200. SE-102 49 Stockholm, Sweden Reproduction only by permission Scandic enters into an agreement to Tel: +46(0) 506 205 50 Home Properties acquires two pro- from Pandox. build a 140-room hotel in Oslo. The Fax: +46(0) 506 205 70 perties in Visby on Gotland, Sweden. E-mail: Front cover: Shutterstock hotel is expected to be completed in They are next to the Clarion Hotel January 2010 and the total invest- Visiting address: Grev Turegatan 44 Wisby, which is already owned by ment will amount to NOK 170 million. Upgrade can be ordered from Pandox or read online at 2
  3. 3. Market information from Pandox The market on the market Home Properties purchases land and building rights adjacent to the new national arena in Solna outside Stock- holm. The hotel will have 400 rooms, a banqueting hall for 2,000 people, 27 meeting rooms, a restaurant and a relax area. Rezidor opens three new hotels in Norway with a total of 704 rooms. Park Inn Arendal will open in the third quar- ter 200, the Park Inn Gardemoen Air- port in the third quarter 2010, and the Radisson Sørlandet Resort Tromøya Arendal is planned to open in 2011. Wait-and-see approach by investors Despite discussions about the existence or not of an economic recession, trans- action volumes have nonetheless fallen. In the United States, the number of August transactions in the first half-year was only one quarter of those made in the Sofitel London Heathrow has opened same period 2007. The primary reason behind this decline is the problems in at Heathrow Airport and is directly linked to Terminal 5 via a bridge. It is a the global credit market with both more expensive and less available capital. five-star hotel and has 605 rooms. It is owned by Arora International Hotels Globally, transactions are both fewer and smaller. In the beginning of the 2000s, hotels have been accepted as an and is managed under a franchise first half-year 2007 more than a dozen portfolio transac- investment class and have become increasingly popular. agreement with Accor Hotels Resorts. tions were carried out for more than one billion dollars. The first half-year 200 saw the completion of only one trans- More buyers than sellers action of that size. The feeling and approach to the current investment cli- Ramada is also opening a hotel at According to Jones Lang LaSalle, investments were mate is slightly less pessimistic if one looks at Jones Lang Heathrow. Ramada Jarvis is expected made in Europe, the Middle East and Africa (EMEA) for 6.4 LaSalle Hotels’ Investment Sentiment Survey. Their report to open its 200-room hotel in Septem- billion dollars in the first half-year 200. Portfolio transac- opens with ”Purchase in Rome, build in Bangalore, hold in ber. This will be the company’s first tions and single acquisitions stood for about half each. The Montreal and sell Spanish resort hotels”. It shows that building project. Ramada has pre- transaction volume represented about 62 percent of the investors continue to have an optimistic approach in the viously only grown through acquisitions. volume seen in the same period 2007. Even here, the medium and long term. For each vendor, there are four really large transactions have been absent. And the portfo- purchasers, so interest is still significant. lio transactions that were nonetheless carried out contain 40 percent of investors are currently interested in pur- Hilton opens its first Garden Inn in the only two or three hotels. chasing more hotels, representing an increase of about 4 UK. The 157-room Hilton Garden Inn percentage points. The number of investors who choose to Luton North is located close to Luton Institutions continue to be interested hold on to their investments has declined slightly. The num- Airport. The largest change has been observed in the investors’ ber of vendors has also fallen from about 16–10 percent. behaviour. Private-equity companies and more aggressive property companies that previously borrowed large amounts Different views lead to stagnation Rezidor informs that they will open a to purchase hotels have retreated. On the other hand, small One reason why the picture is not uniform is that the par- new Radisson hotel in Dresden in the hotel operators have taken the opportunity to make selective ties concerned have different expectations. Purchasers beginning of 2009. The company will acquisitions in order to raise the quality of their portfolios. believe they can benefit from the crisis in the credit market take over the current Park Hotel Institutions and HNWI (High Net Worth Individuals) have the and an anticipated poorer hotel market, and have therefore Dresden Radebeul. The hotel has 574 same or slightly higher activity levels than previously. lower price expectations than one year ago. However, rooms and is located in the suburbs of Yield levels have declined since 2001, although we many who currently own a hotel continue to have high Dresden. have been able to perceive a change since the second half price expectations. This is not a completely strange of 2007. Uncertainty in the financial markets has pushed reaction after a strong first half-year across the world. up yields by about 1 percent, but there is still quite a long The different views therefore led to a significant fall in way to go before reaching levels of the previous crisis. the transaction market. Buyers and sellers are waiting for Furthermore, since the economic downturn seen in the their respective opinion to become the reality. 3
  4. 4. Market information from Pandox Focus on the sector Overall high levels in the first half-year The hotel industry across the world has experienced a strong first half-year. The United States, which is furthest ahead in the economic cycle, has so far been hit hardest by the weaker economic trends and their consequences. The first six months of the year have up weaker economic trends with both High occupancy in London despite the overall effect on results was signi- been really good, despite all uncer- rising food and energy prices. The large increase in supply ficant. In Vienna, average rates tainty. RevPAR rose in both Asia and supply of hotels continues to increase, London, which leads the economic increased for example in June by as Europe by about 15 percent while the which also places further pressure on cycle in Europe, lost 0.5 percentage much as 64 percent to a record level Middle East and Africa increased by the sector. points in occupancy – thus lying of 210 euros, while occupancy fell by an impressive 25 percent. However, In the first half-year, the decline in roughly at last year’s level of 0 per- more than 9 percent. YTD June, the the United States, which is furthest occupancy was witnessed throughout cent. This is a very good level in view city closed with a fall in occupancy of ahead in the economic cycle, only all price segments. However a diffe- of the increased supply of rooms in close to 2 percent and a rise in ave- rose by 1.5 percent in the first half- rence was noticeable in different loca- the city. In 200 and 2009, a total of rage rates of almost 16 percent. year 200. tions of the country. City hotels and almost 6,500 new rooms are expected Brussels is still experiencing strong All markets are driven by rising small towns declined least – and they to become available. The underlying trends. Occupancy rose in the first average rates while occupancy had furthermore still had an underlying demand in London is strong, but the half-year by 4 percent while rates weak trends or even decreased. The increase in the number of sold rooms. supply could have a negative effect in increased by percent. This repre- weak dollar has reduced American On the other hand, suburbs and air- the short term. Average rates have sents stronger growth than the first travel outside the continent and has ports performed less well. seen slowing growth but are still close half-year 2007 when RevPAR thereby had a positive effect on Cen- In New York, the number of sold to 6 percent over last year. increased by percent in total against tral and South America which rooms rose by almost 3 percent simul- Despite Paris not having the Paris this year’s close to 12 percent. increased by more than 20 percent in taneously as the supply increased by Air Show to lean back on this year, In Copenhagen, occupancy has the first half-year. Room occupancy about the same amount. Room occu- occupancy increased by more than 3 started to decline and fell by nearly 3 continues to rise in Central and South pancy therefore remained almost the percent during the first half-year. Ave- percent in the first half-year. Average America as well as the Middle East same compared with last year. Average rage rates rose further and closed with rates are still rising and were close to and Africa. rates rose however by more than 7 per- an increase of more than 6 percent. 10 percent over 2007 levels. In Oslo, cent, thereby resulting in an increase Vienna, Basle and Zurich were growth in occupancy is slowing while Weak economy and increased in RevPAR of close to percent. some of the cities that were helped by average rates are relatively stable at supply in the United States Trends in Europe were a little better. the European Football Champion- about 10 percent over last year. The United States has so far been hit Certain cities still showed increased ships in the summer. The matches Growth in the underlying demand is hardest by the macro-economic deve- growth in RevPAR in the first half- were played during the whole of June about 3 percent, but due to an lopment. Despite both Europeans and year, while the second half started to and affected average rates strongly increase in the supply, this is not fully Asians having increased their travel to lose momentum. Those that have while occupancy on the other hand reflected in the occupancy figures. the US, as a consequence of the weak declined are however still at a good declined. Thanks to an increase in dollar, this has not been able to weigh rate of growth, just as in New York. RevPAR driven by the higher rates, 4
  5. 5. Market information from Pandox Letzigrund in Zurich (above) and Stade de Genève in Geneva (below) were two of the places where the European Football Championships were held in the summer. The sports event led to a strong rise in average rates, but to lower occupancy. Stable growth in Sweden twelve-month figure contains a Prices up close to Arlanda rise in RevPAR. However, in the first In Sweden, overall growth is stable. weaker autumn 2007. Developments Hotels located close to airports are six months both rates and occupancy On a rolling twelve months, RevPAR in the forthcoming autumn will there- usually one of the groups that first have increased by roughly the same has risen by –9 percent. Both ave- fore be particularly exciting. Macro- shows in which direction the eco- amount. rage rates and occupancy are show- economic signals as well as indica- nomic cycle is heading. At Arlanda In Malmö, both the long and short ing stable growth of about 5 percent tions from the leading hotel cities in outside Stockholm, growth in RevPAR trends look the same. Occupancy is and 1 percent respectively. Half-year the world show that there is a risk of a is still rising. Average rates show a increasing by about 1 percent while results are also in line with these figures. decline in the market – although so strong increase and are now up average rates are 6 percent over last However, trends in Stockholm, far we have not felt the effects. around 11 percent on a rolling twelve year. Business and conference travel Gothenburg and Malmö are some- Average rates in the last twelve months thanks to a very strong first is at an unchanged level while leisure what different – and are even different months are more than percent half-year. Occupancy is however in travel fell slightly during the latest from one city to another. higher than the same period the year line with last year, but is stable at an twelve-month period. In Stockholm, occupancy is rising before. The first half-year is about 7 historically high level of 6 percent. by more than 2 percent on a rolling percent higher. All in all, the statistics In Gothenburg, growth is starting twelve months. In the first half-year, show a strong half-year with an to slow, even if the first half-year was occupancy increased by more than increase in RevPAR of more than strong. On a rolling twelve months, it Explanation: 3 percent. This indicates that the 10 percent. is primarily average rates that led to a RevPAR: Revenue per available room OCCUPANCY TRENDS JAN–JUN AVERAGE RATE TRENDS JAN–JUN 2005 2006 2007 2008 2005 2006 2007 2008 London 1% 6% 1% 0% London 5% 4% 12% 6% Brussels 1% 6% 0% 4% Brussels 3% 5% % % Berlin –3% 5% 7% –2% Berlin –3% 11% –3% 7% Stockholm 7% 5% –1% 3% Stockholm 2% 3% % 7% London has slower growth in occupancy. The level is however still high and is currently at 0 Average rates in London are also seeing a slowdown in growth. Berlin however has had better percent for the first six months of the year. Both Stockholm and Brussels show stronger growth growth in 200 than the first half-year 2007. this year compared with last year. 5
  6. 6. Market information from Pandox Pandox market barometer June 200 The market barometer indicates the selected cities’ position in the business conditions, how the hotel market is evolving, and the extent to which the hotel cycle. The assessment is based on an analysis of each city. Consideration is property market is developing and has liquidity. It is important to note that the given to macro-developments, the trends of the hotel industry and business hotel business cycle is the same in its pattern but different in time. BRIEF DESCRIPTION OF THE VARIOUS PHASES OF THE HOTEL BUSINESS CYCLE: GROWTH b Occupancy is rising relatively rapidly and rates have begun to increase. High WEAKENING DECLINE c The decline tapers off and RevPAR gradually levels out. This potential and low risk. phase is characterised by some potential and high risk. PEAK h Occupancy continues to rise and rates increase above inflation. Strong potential LEVEL OUT v Occupancy rises and rates remain unchanged. High potential with wea- and low risk that gradually increases to high risk. kening risk. DECLINE x Occupancy and rates decline due to lower demand or excess capacity. This phase is characterised by low potential and high risk. sweDeN PeAK h x DeCLINe Umeå, Stockholm 5*, Stockholm, Gothenburg, Malmö, Helsingborg, Jönköping, Luleå, Lund, Uppsala, Sundsvall GROwTH b c weAKeNING DeCLINe Karlstad v LeVeL OUT Comments – Sweden Stockholm’s five-star segment is still by close to percent on a rolling good here as well. RevPAR closed at a RevPAR slightly over last year. For developing well. Occupancy has sta- twelve months. RevPAR in this YTD June with 5 percent over last the first half-year, RevPAR is even bilised again after a rather weak start segment is now 10 percent over the year. The increase is driven equally by about 2 percent under the same to the year. Clarion Hotel Sign opened previous twelve-month period. growth in both rates and occupancy. period 2007. In Jönköping, growth is at Norra Bantorget in the spring and Growth is lower in Gothenburg Helsingborg is one of few cities still stable at about 2 percent for occu- has affected trends for other hotels to than in Stockholm. Trends are how- that is actually falling in occupancy pancy and 4–5 percent for average a certain degree. The rise in average ever still relatively stable and both and the city’s average rates have a rates. rates has been slightly dampened by occupancy and average rates are slowly decreasing growth on a rolling the new competition but is still rising rising. The first half-year has been twelve months. All in all, this results in (Sources: Nutek and SCB) INTeRNATIONALLY PeAK h x DeCLINe Paris, Copenhagen, London, Amsterdam, Oslo, Brussels, Prague Vienna, Berlin, Helsinki GROwTH b c weAKeNING DeCLINe v LeVeL OUT Comments – Internationally Paris had good growth in rates in the Average rates are still rising by about still rising. Pressure on RevPAR is increased in the first half-year by first half-year, despite the absence of 10 percent. quite hard, although it still shows more than 12 percent. the biannual Paris Air Show. Occu- London has been relatively stable slight growth compared with last year. pancy YTD June was 3 percent over during the year with high occupancy Oslo is seeing a slowdown in last year. Average rates increased by of around 0 percent. YTD June is in growth in occupancy, although growth more than 6 percent which led to line with last year. Average rates are in average rates is still strong and has growth in RevPAR of 10 percent. In about 6 percent over last year. So far shown a rise of 10 percent for some Copenhagen, occupancy has started this year, RevPAR has risen by more time. Occupancy growth on rolling to reach its ceiling and was at 65 per- than 5 percent. In Amsterdam, occu- twelve months is about 11 percent. cent compared with the first half-year pancy has been declining for several Brussels is still rising both in occu- (Sources: STR Global, and central statistics 2007 when it was close to 67 percent. months, although average rates are pancy and average rates. RevPAR agencies in Norway and Finland) 6
  7. 7. Market information from Pandox Current trends The most private area open to public view Visit a newly opened hotel and look in the hotel room’s bathroom. Full-length glass, half glass or frosted glass. The trend is clear – let in the light and erase the boundary between bedroom and bathroom. Have the guests asked for this or have the architects had a totally free hand? For hotel guests, the bathroom today room, the answer was very clear is almost as important as the bed- – the partner. 14 percent of the men room. At least if the recent years’ wanted to forbid their partner transformation of the bathroom to a access while 24 percent of the Cotswold House in Chipping Campden, England. spacious wet living room is a sign of women replied the same. Bearing in our guests’ new preferences. mind the results of this survey, it Perhaps the hotel room of the future has been read – the part about that Today, it is more a rule than an would seem that today’s transparent is a room totally without any bounda- people would spend much more exception that new hotels be built bathroom is totally wrong. ries – either mentally or physically. time in a dream bathroom if they with bathrooms that are more or less Another clear bathroom trend is Once upon a time we could fulfil this only had the chance. The boundary- open to view. If it is not full-length to make the bathroom more cosy regulation-free oasis only by chang- free bathroom has thereby been glass walls towards the outer or bed- and more as a living room – a wet ing the sheets and towels each day, created where one can do what one room wall, then it will at least be a living room for socialising. It is not offering breakfast in the room, and wants. That 25 percent visited the glass door – or frosted at a pinch. A totally unusual with a television and having drinks close to the bed. bathroom in order to have time to private life today is not encouraged, DVD, stereo equipment, double Today, guests want to read their themselves has been forgotten in but instead company and constant shower and a comfortable couch or email at the same time as they are the fast-moving process. contact. The time has passed when armchair. At the Hazelton Hotel in brushing their teeth. Have a one locked oneself in the bathroom Toronto, one has solved the ques- moment’s quality time together with for a moment’s relaxation. tion of private life by having a bath- their partner without any compro- room for her and a bathroom for mises. This could mean one of them A visit to the toilet is peace for him. In ”his” bathroom, the fur- having a bubble bath while looking the soul nishings are in walnut with heavy at the news while the other has a A survey was performed a few years bookshelves, completely in line with well-cooled glass of champagne in ago in the UK as to how people the living room trend. ”Her” bath- front of the fire. Simultaneously and used, and would like to use, their room is white with large candelabras together. Or … bathrooms. Nearly one fifth of the and own walk-in closet. respondents would spend two hours … has the designer decided? or more in a dream bathroom. 25 A future without boundaries Is a bathroom with total open view percent said that the most important A hotel stay shall be comfortable. an answer to what our guests would reason for visiting the bathroom was One must feel at home but without like to have or is it the result of having to be able to lock the door and get obligations, and with total service. Is used design and trend-controlled away from other family members. To today’s bathroom therefore a step architects without any thought for the question as to who they would towards the hotel room of the functionality? It would seem that like to forbid access to the bath- future? only half of the survey from the UK DID YOU KNOw... … you can check in via your telephone. At the luxury hotels Sofitel Le Faubourg and Pullman Paris Bercy … a ”dogillow” can be booked for your four-legged friend at Travelodge. The pillow is in two sizes. There Sundry facts from various corners of the hotel world … there is a salt som- melier at the Anantara in Paris, regular guests can check in via telephone is also a premium Hotel in the Maldive during a trial period. They receive a text message, alternative that is Islands. The somme- can go past the queue at the reception and then a mini-version of lier guides his guests unlock the room directly with the help of their tele- the company’s through eleven diffe- phone. king-size bed with rent kinds of salt. The accompanying delicacies include … a hotel bar, only six months old, has been voted mattress, cover black lava flake from as London’s best place to drink! The Time Out maga- and pillow. Cyprus, Balanese zine has listed 50 locations in the capital city and the coconut salt, and choice was made among 650 bars and restaurants. lime-smoked sea salt. The Coburg Bar at the Connaught Hotel in Mayfair won the fine award. 7
  8. 8. Market information from Pandox News from the Pandox sphere New and old at the Hotel Berlin, Berlin Colourful Hotel BLOOM! back in the spotlight We have previously written that our new General Manager Christel Cabanier at the Hotel BLOOM! has become a TV personality in Belgium. She is a member of the jury in the TV program ”My Restaurant”. The hotel obtained a lot of publicity when the program had a party at the hotel’s restaurant Smoods. One had produced an own wine especially for the party with the name BLOOM! Another Belgian TV pro- gram, Super Models Con- test, has been filmed at BLOOM! Belgium’s best- known model Elise Crombez is one of the judges. Many well-known pop Newly refurbished and guest-oriented artists also stay at the hotel meeting rooms have made the Hotel and use interior pictures Berlin, Berlin well-known and liked in from the hotel in their CD the city and the whole of Germany. 22 covers. For example, look at meeting rooms with a total of 2,000 Sandrine’s and Milk Inc’s square metres with all imaginable new CDs. technical finesses are available. A Guest Care Centre has been created in Activities fill the Radisson SAS Basle order to be able to offer the best possi- The Radisson SAS Basle experienced ble service to the guests. A new system good times during the European Football with more than 250 international TV Championships when six matches were channels and new HDTVs has been installed. The hotel has also refur- played at the St Jakob Stadium in Basle. bished the corridor in the original part of the hotel and used the areas Players, referees, UEFA representatives around the lifts for pictures of Berlin from yesteryear and today. and the press stayed at the hotel for The hotel has also made a Gallery Berlin, Berlin – a 37 meter long wall three weeks. with a panorama view of Berlin from the past, as well as pictures with orig- The Art Exhibition in Basle also inals from the hotel’s more than 50-year history. An exciting experience. attracts people to the hotel, which had a good summer. New management in Stockholm The picture shows the hotel’s and Montreal advertisement for its Dinner Dance Peter Eriksson took over as General Manager of evenings where guests, after a good the Hilton Stockholm Slussen on 1 August after dinner, can learn to dance together Mats Liste. Peter has worked for Hilton for nine with professional dancers from a local years and started as a Hilton trainee directly dance school. after completing his Hotel Management studies at Oxford Brooks University. After a number of Hotel Market Day on Tuesday 18 November years at various Hilton hotels abroad, Peter Remember to register for this year’s Hotel Market Day to be held came to Stockholm three years ago as Director on Tuesday 1 November at the Hilton Stockholm Slussen. Go to of Business Development. or send an email to Pandox’ latest acquisition – Hyatt Regency H OX OT PAND Montreal – has a new General Manager since EL 18 Nov. welcome to MAR 2008 trENdS March this year. Patrick Cappa was born in New pandox’ Y KET DA York and grew up in Nice. Patrick comes from hoket day tel al the Park Hyatt Toronto. He worked for Hyatt annu NEWS Hotels for six years, and for various hotel chains in Canada before that. mar We wish both Peter and Patrick good luck in their new positions and warmly welcome them to the Pandox sphere. at hilton stockholm slussen Reserve Tuesday 18 November for your New look at Hilton Brussels City participation at this year’s hotel seminar. As usual, we will present national and international hotel market trends and Hilton Brussels City’s lobby and report on a hot topic in our industry. guest corridors have been redeco- HILTON STOCKHOLM SLUSSEN rated by the Swedish architect – Bronwynn Welsh of Doos Arkitekter. The picture to the left gives an idea of the new furnishings.