Seen on ehotelier.com - June 19, 2008
Park Plaza Hotels is celebrating the recent signing of management
contracts and hotel developments in Russia, Croatia and the UK that it
expects will lead the Company to exceed the aggressive development
target outlined at the time of its London AIM listing in July 2007.
These recent signings are expected to more than double the current
number of rooms to over 13,200 by 2012.
The deals - all
signed within a few weeks of each other - include new hotel
developments in Russia's premier business travel destinations such as
Moscow and St. Petersburg, resort and conference hotels on the
breathtaking Istrian Coast, and the Company's first art'otel in the UK
in London's Hoxton area of the City.
Boris Ivesha, President and CEO of Park Plaza Hotels comments:
"I
am delighted to be able to announce such key developments for Park
Plaza Hotels that not only expand our brand network into new markets
but that we anticipate will exceed the goals set last July at the time
of our AIM listing. We have a commitment to our stakeholders to grow
the business through contracts with reputable strategic partners and
these valuable developments in key destinations are testament to that
dedication.
Park Plaza Hotels offers one of the most flexible
models in the management, franchise and development market today with
two brands - Park Plaza Hotels & Resorts and art'otel - providing
affordable luxury to the discerning needs of the modern-day business
and leisure traveller."
Russian Federation
The
agreement for 15-20 new hotels (with a total of approximately
3,500-4,000 rooms) in Russia was entered into on 17 April with Ferens
Management Limited (Ferens) who will develop a chain of Park Plaza
branded hotels which will be operated by Park Plaza Hotels under
20-year management contracts. Park Plaza Hotels will provide technical
services to Ferens, including assisting in the identification and
planning of the new hotels which are due for completion by 2012. The
hotels will be located in major Russian cities, with populations of
more than 500,000, and hotels are planned for several of Russia's
principal business travel destinations, including Moscow and St
Petersburg. Ferens is part of the Renova Stroygroup, one of Russia's
leading development companies.
Croatia
Park Plaza
Hotels entered into a long-term management agreement contract in mid
April with Arenaturist Group, who own eight hotels and five apartment
complexes in Pula and Medulin on the idyllic Istrian Coast of Croatia.
The accommodation currently has approximately 2,800 rooms primarily
marketed to the growing numbers of leisure visitors, many of whom are
international. Several of the existing Arenaturist hotels will carry
the Park Plaza Hotels & Resorts flag and offer accommodation and
services in line with the core values of affordable luxury associated
with the brand. Plans are already underway to enhance and reposition
the portfolio through significant investment, including possible
upgrades to the conference and leisure facilities to broaden the
customer base. Park Plaza Hotels has also taken a 20% stake in WM/DMREF
Bora B.V. (Bora) from a group of real estate investment funds sponsored
and managed by Goldman Sachs. Bora currently owns approximately 74% of
Arenaturist and 100% of three related private companies.
United Kingdom
Park
Plaza Hotels expect to bring its unique art'otel brand to London having
entered into a joint venture in mid-March with Aldersgate Investments
Limited - the property vehicle of the Reuben Brothers - to develop an
art'otel in London's trendy Hoxton on the edge of the City. The
art'otel brand is built on the concept of individually themed boutique
hotels, each of which pays homage to a well-know modern artist. Park
Plaza Hotels and the Reuben Brothers, famous for their highly
successful property developments and plethora of real estate, will both
have considerable involvement in the hotel's planning and design
alongside the hotel's chosen signature artist. The hotel will offer
exclusive guest rooms and suites, a restaurant and bar, two auditoriums
and an art gallery, appealing to a sophisticated clientele with an
interest in art and culture.
Park Plaza Hotels continues to work
on its development plans with significant openings planned in Germany -
Park Plaza Nuremberg (2009) and art'otel cologne (2009), Morocco - Park
Plaza Marrakech (2009) and art'otel marrakech (2009) and the United
Kingdom - Park Plaza Westminster Bridge London, opening in 2010 with
1,037 guest rooms and conference space for over 1,200 delegates,
representing the largest new hotel development in the capital for
decades.
With these committed developments, Park Plaza Hotels
is on track to deliver more than the original target of 10,000 rooms by
2010, well within the timeframe. Park Plaza Hotels is fast living up
to its reputation of becoming one of the most dynamic hotel companies
in the industry today.
About Park Plaza Hotels
Park
Plaza Hotels Limited is owner, operator and franchisor of hotels in
Europe, the Middle East and Africa. The majority of the group's hotels
operate under the Park Plaza Hotels & Resorts brand (part of
Carlson Hotels Worldwide), over which the Group has exclusive rights in
56 countries in EMEA or art'otel, a brand to which the Group has
exclusive worldwide rights. Park Plaza Hotels also manages the luxury
all-suite Plaza on the River - Club and Residence, London.
Through
it strategic partnership with Carlson, one of the world's largest
travel and hospitality companies, Park Plaza Hotels has access to
Carlson's powerful reservation and distribution system, airline
partnerships with 19 airlines, loyalty programmes such as goldpointsplusSM for guests and Look To Book® for travel agents, and cross-selling opportunities.
There
are currently 39 hotels and aparthotels and over 7,300 rooms in the
Group's portfolio. By 2012, the Group's committed projects and
territorial franchise agreements are expected to increase the number of
rooms to over 13,200.
Projects already under development include
Park Plaza Marrakech (2009), Park Plaza Nuremberg (2009), art'otel
cologne (2009), art'otel marrakech (2009), Park Plaza Westminster
Bridge, London (2010) and art'otel London (2012).
Park Plaza Hotels floated on London's AIM Stock Market in July 2007.