Δευτέρα, 30 Απριλίου 2018
MIAMI —Marriott Vacations Worldwide Corporation (MVW) and ILG have entered into an agreement under which MVW will acquire all of the outstanding shares of ILG in a cash and stock transaction with a value of approximately $4.7 billion.
ILG is a provider of vacation experiences with more than 40 properties and more than 250,000 owners in its Vistana Signature Experiences and Hyatt Vacation Ownership portfolios, as well as exchange networks that comprise nearly two million members and more than 3,200 resorts worldwide.
As a combined entity, MVW and ILG will have the largest portfolio of upper-upscale and luxury brands in the industry, according to the companies. The combined company will be the global licensee of seven upper-upscale and luxury vacation brands, including Marriott Vacation Club, Grand Residences by Marriott, Ritz-Carlton Destination Club, Sheraton Vacation Club, Westin Vacation Club, St. Regis Residence Club, and Hyatt Residence Club. It also will have exclusive access for vacation ownership to the Marriott Rewards, Starwood Preferred Guest and Ritz-Carlton Rewards loyalty programs for its six Marriott vacation ownership brands. With respect to its Hyatt business, the combined company will have rights to develop, market and sell under the Hyatt Vacation Ownership programs, including access to the nearly 10 million members of the World of Hyatt loyalty platform.
Marriott Vacations Worldwide’s President and CEO Stephen Weisz, and its CFO and Administrative Officer John Geller will continue to serve in their roles following the close of the transaction. The Marriott Vacations Worldwide Board of Directors will be expanded from eight to 10 members to include two current members of the ILG Board. William Shaw will remain chairman of the board. MVW’s headquarters will remain in Orlando, FL, and the combined company will maintain a significant operating presence in Miami.
Foley & Lardner LLP advised MVW as lead timeshare and exchange counsel in the transaction. Orlando-based partner Bill Guthrie led the team, with assistance from Orlando partners Dan Bachrach and Matt Jassak.
Tags: Grand Residences by Marriott Hyatt Residence Club Hyatt Vacation Ownership ILG
Positioned along the Atlantic Ocean and the beaches of Fort Lauderdale, Four Seasons Hotel and Private Residences Fort Lauderdale, developed by Fort Partners, breaks ground today to become the newest iconic global destination for Four Seasons Hotels and Resorts. The development will offer unmatched access to a lifestyle of leading amenities, services and design and will include 90 Private Residences and 130 guest rooms.
Four Seasons Hotel and Private Residences Fort Lauderdale will mark the third collaboration between Four Seasons and Fort Partners, joining Four Seasons Resort Palm Beach and Four Seasons Hotel and Residences at The Surf Club in extending the luxury hospitality brand’s presence in South Florida. Homeowners of Four Seasons Private Residences Fort Lauderdale will have special access as preferred guests to Fort Partners’ portfolio of Four Seasons properties in South Florida.
“We commissioned a team of global minds to create an exemplary hotel and residential property unlike any other in Fort Lauderdale,” acclaims Nadim Ashi, Founder of Fort Partners. “Four Seasons is defining Fort Lauderdale as a global destination and is capturing an international audience. We are committed to developing a world-class hotel and lifestyle.”
The 22-storey oceanfront property will combine luxury and legendary Four Seasons service for visitors and residents alike. The Hotel rooms will reside on the fourth through the 11th floors and the Private Residences begin on floor five. Of the residential portion, the developer has achieved more than USD 100 million in sales to date, a record in Fort Lauderdale that has elevated fully-serviced residential offerings in the city. The Private Residences have been sold to an international mix of buyers from across the Americas and Europe.
“Four Seasons has a history of entering into markets and setting the standard for luxury lifestyle experiences. This new property will be no exception, and we look forward to opening our doors in the vibrant city of Fort Lauderdale,” says J. Allen Smith, President and CEO, Four Seasons Hotels and Resorts. “In partnership with Fort Partners and our team of international design visionaries, every detail – from location to design to amenities – reflects the highest standards of quality and excellence.”
Smith continues, “Four Seasons will manage both the Hotel and Private Residences, delivering our world-class service to guests and to our homeowners on a permanent basis. This is what will set us apart in Fort Lauderdale and will establish this property as the best luxury lifestyle experience in the city.”
Designed by Global Visionaries
With a commitment to delivering integrity, quality and culture, the team of global visionaries is led by Fort Partners’ Founder Nadim Ashi and Principal Ramzi Achi, as well as an internationally-acclaimed design team.
The interior design is led by London-based Tara Bernerd, who was responsible for the building’s full interior architecture. Her design remains authentic to the location, and appealing to hotel guests and residents from around the world. Tara has designed hotels, private homes, and yachts in London, New York, Chicago, Los Angeles and Hong Kong. In addition, Martin Brudnizki, a renowned London-based hospitality designer, envisioned the culinary experience at Four Seasons Hotel and Private Residences Fort Lauderdale, where he designed the property’s restaurants, lounges and pool areas.
Award-winning Miami-based architect Kobi Karp is the architectural mastermind behind the development. Kobi has designed properties worldwide, including in the Caribbean, the Far East, the Black Sea region and the Middle East.
Recognised as one of the most influential landscape designers in America, Fernando Wong is the leading landscape architect for Four Seasons Hotel and Private Residences Fort Lauderdale, which will have one-third of the property devoted to green space. He refers to this landscape design as a “civilised jungle,” using palm trees and native plants on both the ground floor and the third floor oceanfront pool deck to allow guests to feel an organic vibe.
Four Seasons Hotel and Private Residences Fort Lauderdale boasts an oceanfront terrace on the third floor with dual pool experiences and luxury cabanas, a world-class Four Seasons spa, fitness centre and a Kids for All Seasons program for children. A signature all-day restaurant with interior and alfresco seating also resides on the oceanfront terrace with a pool bar, lounge and an ocean-view outdoor café. Guests and residents can also enjoy the dedicated attention and à la carte services from Four Seasons beach butlers.
PARIS—AccorHotels has signed an agreement with Mövenpick Holding and Kingdom Holding to acquire Mövenpick Hotels & Resorts for a cash amount of some $565 million (560 million Swiss francs).
The transaction implies a 14.9X 2019e EBITDA multiple before synergies (including transaction costs), and less than 10X pro forma 2019e EBITDA after run rate synergies and committed development pipeline. The transaction will have an accretive impact on group earnings from the first year, according to the company.
Founded in 1973 in Switzerland, Mövenpick Hotels & Resorts operates in 27 countries with 84 hotels (more than 20,000 rooms) and a particularly strong presence in Europe and the Middle East. Mövenpick Hotels & Resorts also plans to open 42 additional hotels by 2021, representing almost 11,000 rooms, with significant expansion in Middle East, Africa and Asia-Pacific. The group, which has high-end expertise in the main hotel-related services, employs more than 16,000 people worldwide.
Sébastien Bazin, chairman and CEO of AccorHotels, said, “With the acquisition of Mövenpick, we are consolidating our leadership in the European market and are further accelerating our growth in emerging markets, in particular in Middle East, Africa and Asia-Pacific. The Mövenpick brand is the perfect combination of modernity and authenticity and ideally complements our portfolio. Its European-Swiss heritage is a perfect fit with AccorHotels. By joining the group, it will benefit from AccorHotels’ power, particularly in terms of distribution, loyalty-building and development. This transaction illustrates the strategy we intend to pursue with the opening up of AccorInvest’s capital: to seize tactical opportunities to strengthen our positions and consolidate our leaderships, as well as leverage our growth.”
Mövenpick Hotels & Resorts will benefit from AccorHotels’ loyalty program, distribution channels and operating systems, which will help optimize their performance, according to the company.
The transaction is subject to regulatory approvals. It should be completed during the second half of 2018.
Qatar Airways passengers can now experience ‘Super Wi-Fi’ high-speed broadband connectivity using Inmarsat’s GX Aviation technology. The broadband service is being progressively rolled out on all Boeing 777 aircraft and Airbus A350 aircraft in Qatar Airways’ young fleet. Qatar Airways is the first airline in the MENA region to have invested in the technology to provide this quality of service for passengers.
The progressive fit-out will equip its Boeing 777 and Airbus A350 aircraft with the new technology. Passengers on flights fitted with GX Aviation can receive one hour free access to the ‘Super Wi-Fi’ to further enhance the award-winning level of service provided by the world’s best airline. If more time is needed, passengers can purchase full-flight access to the service selecting from a range of affordable options.
Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker, said: “In another first for the MENA region, Qatar Airways passengers can now enjoy high-speed broadband connectivity, providing rich content without restriction, whether using the internet for work or relaxation during their journey. Business travellers in particular will be able to maximise their ‘office in the sky’ with seamless continuity.”
President of Inmarsat Aviation, Mr. Philip Balaam, said: “Qatar Airways is renowned as one of the greatest innovators in global aviation with passengers being at the centre of everything they do. We are delighted that they are now pioneering our game-changing GX Aviation inflight broadband across the globe. This unprecedented service adds to the airline’s award-winning, five star onboard experience by allowing passengers to seamlessly browse the internet, stream videos, check social media and more during flights.”
Inmarsat are the same high-tech provider selected by Qatar Airways for its space-based tracking system used to track all its flights worldwide. As one of the world’s leading developers of tracking systems, Inmarsat use a network of satellites to detect signals transmitted from aircraft and relay this information reporting speed, location and direction, to ground-based receivers.
Qatar Airways operates a modern fleet of more than 200 aircraft to a network of more than 150 key business and leisure destinations across Europe, the Middle East, Africa, Asia Pacific, North America and South America.
The airline plans a host of exciting new destination launches this year, including London Gatwick and Cardiff, United Kingdom; Lisbon, Portugal; Tallinn, Estonia; Valletta, Malta; Cebu and Davao, Philippines; Langkawi, Malaysia; Da Nang, Vietnam; Bodrum and Antalya, Turkey; Mykonos, Greece and Málaga, Spain.
The award-winning airline has received a number of recent accolades, including ‘Airline of the Year’ by the prestigious 2017 Skytrax World Airline Awards, held at the Paris Air Show. This is the fourth time that Qatar Airways has been given this global recognition as the world’s best airline. In addition to being voted Best Airline by travellers from around the world, Qatar’s national carrier also won a raft of other major awards at the ceremony, including ‘Best Airline in the Middle East,’ ‘World’s Best Business Class’ and ‘World’s Best First Class Airline Lounge.’