Orient-Express Hotels president steps down
Simon Sherwood announced his is to stand down as president and chief executive of Orient-Express Hotels this August. After 13 years at the helm, a company statement said he was leaving to pursue other interests. Orient-Express owns, part owns or manages 49 luxury hotel, restaurant, tourist train and river cruise properties in 25 countries. A successor will be announced in due course.
Hilton's Scandic to be bought by Swedes The Scandic hotel chain is close to being bought for an estimated £510m by one of Europe's wealthiest families. Stockholm-based private equity house EQT, which is controlled by the billionaire Wallenberg family, has emerged as the favourite to agree a deal with Hilton Hotels Corporation for the chain. It appears EQT has fought off competition from rival Scandinavian investment firm Nordic Capital and Terra Firma. An announcement of a deal is expected from Hilton within the next fortnight. Scandic runs 130 hotels mainly in Sweden, Norway, Finland and Denmark.
Rezidor announces Middle Eastern growth plansRezidor Hotel Group has announced plans to double the size of its portfolio within the next three years. The group plans to expand the Radisson brand into Abu Dhabi in the UAE, Doha in Qatar, and Cairo and Alexandria in Egypt and the mid-market Park Inn brand into the region for the first time in Riyadh and Al Khobor in Saudi Arabia and Muscat in Oman. Sales and marketing director Craig Senior said: "We see the middle East as a very fast-moving and fast-developing area."
Ukranian contract for InterContinental Hotel GroupInterContinental Hotel Group has signed a contact for its first property in the Ukranian capital, Kiev. The new-build InterContinental hotel, which is due to open in early 2008, will comprise 280 bedrooms overlooking one of the city's main squares. The hotel will feature two bars and restaurants, meeting rooms, fitness area, swimming pool and treatment rooms. Local real estate developer Yaroslaviv Val will own the property.
Hilton creates two new rolesHilton Hotels Corporation
By Emily Manson
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