22-22 Jun 2024
Worldwide,
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22-24 Jun 2024
Las Vegas Convention Center,
Las Vegas,
United States
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22-24 Jun 2024
Las Vegas Convention Center,
Las Vegas,
United States
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23-25 Jun 2024
The Old Thorns Hotel & Resort,
Liphook,
United Kingdom
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08-10 Jul 2024
The Global Ambassador ,
Phoenix,
United States
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17-17 Jul 2024
Pennyhill Park ,
Bagshot,
United Kingdom
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28-29 Jul 2024
Southern Sun Rosebank,
Johannesburg,
South Africa
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03-05 Sep 2024
IMPACT Exhibition Center,
Bangkok,
Thailand
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UK hotel industry 'swinging towards luxury' as investors target affluent visitors |
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By Tom Walker 26 Nov 2018 |
Some of London landmark hotels, including the Savoy, are now owned, at least in part, by investors from the Gulf
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The total number of high-end hotels in the UK has increased by 140 in the last two years, while the number of hotels rated three-star and below fell by 110 in the same period.
The figures come from real estate law firm Boodle Hatfield, which suggests that investors in the hotel sector are increasingly banking on attracting more affluent tourists – driving a rise in the number of luxury hotels openings and upgrades in the UK.
Investors from overseas, particularly the Middle East and Singapore, have been key in bringing new investment into the luxury hotel sector in recent years.
Some of London landmark hotels – including the Savoy, the Four Seasons and the Corinthia – are now owned, at least in part, by investors from the Gulf. “There has been a very noticeable shift in investor focus towards the luxury end of the hotel market, as overseas ultra high net worth individuals seek to capitalise on London’s ability to attract affluent visitors," said Adam Chamberlain, partner at Boodle Hatfield. “London is one of the premier centres for wealth management globally, and that is increasingly reflected in the type of tourists the capital attracts. Investors have moved to meet demand from these visitors for luxury hotels. “Wealthy individuals, particularly from the Middle East, have for some time identified the UK luxury hotel sector as a major area of interest, as it blends the capital preservation of London real estate, a strong income stream, and the prestige that ownership of a landmark property offers.” Chamberlain added that the UK’s tourism industry has benefitted from London’s reputation for attracting wealthy individuals. Tourists are forecast to spend a record £26.3bn in the UK in 2018, up 7.1 per cent on 2017 – partly due to a weak pound caused by the uncertainties around Brexit.
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1 to 12 of 8735 news stories |
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14 Jun 2024
Hotels incorporating wellness amenities experienced a significant boost in Total Revenue per Available Room (TRevPAR) in 2023, according to the latest Wellness Real Estate Report by RLA Global, produced in partnership with P&L benchmarking firm ... More
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13 Jun 2024
The 2024 G7 Summit is now underway at a destination spa resort in Puglia, Italy, with leaders from Canada, France, Germany, Italy, Japan, the UK and the US convening to address some of the world’s ... More
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13 Jun 2024
Minor Hotels CEO Dillip Rajakarier has unveiled plans to introduce an innovative medi-wellness concept to the group's Anantara Hotels, Resorts and Spas brand, with ambitions to expand the concept to additional resorts in the future. ... More
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10 Jun 2024
Global Wellness Day (GWD) marked its 13th anniversary on Saturday, 8 June and was reportedly celebrated by a record-breaking 1 billion people worldwide, making it the most successful year yet. Founded in 2012 by Belgin ... More
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07 Jun 2024
Wellness industry figure Deepak Chopra is co-developing a new wellness community and resort focused on wellbeing and longevity in Utah’s Heber Valley, centred around natural geothermal springs. Named Ameyalli – an Aztec term meaning "a ... More
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06 Jun 2024
European health spa operator Ensana has announced the strategic appointment of Dr László Puczkó as senior health spa advisor. Established in 2019, Ensana manages 28 hotels across the Czech Republic, Hungary, Slovakia, Bulgaria, Romania and ... More
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05 Jun 2024
The Great Spa Towns of Europe (GSTE) has announced the successful approval of its funding application under the European Town Twinning Programme. This funding will support a year-long project named INTERSPACE, aimed at fostering intercultural ... More
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04 Jun 2024
According to new research from Ernst & Young, the gap between female and male engagement in sport and physical activity is narrowing, with Gen Z adult female engagement figures on the rise. The EY Sports ... More
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04 Jun 2024
North Wales’ four-star The Quay Hotel & Spa in the Deganwy Marina in Conwy has invested £1 million (€1.2 million, US$1.3 million) refreshing its 580sq m destination spa with new wellness facilities. Inspired by its ... More
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03 Jun 2024
Marriott is set to bolster its exclusive Ritz-Carlton Reserve portfolio with a brand new property in South America in Costa do Sol, Rio de Janeiro. The eco-luxury resort will open as part of the ambitious ... More
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30 May 2024
Developer Rockwell Island Development Group (RIDGE) has appointed five-star, global hospitality brand Banyan Tree to manage its new luxury island retreat in Bimini in the Bahamas. Immersed in nature and surrounded by pristine beaches, Banyan ... More
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29 May 2024
Reservations are now open for Mandarin Oriental’s second London hotel, Mandarin Oriental Mayfair, set to open on 3 June. The luxury establishment will feature 50 guestrooms, 77 private residences and a luxury underground spa retreat. ... More
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