News Summary 5/01/2010
News Summary
Hotel transactions fell back by two-thirds in 2009
The value of global hotel investment deals will have fallen by almost two-thirds this year but the market will begin to pick up in 2010, according to Jones Lang LaSalle Hotels. The property agent’s annual review of transactions shows that just $9b (£5.5b) will have changed hands this year, a drop of 64% compared with last year’s $28.4b (£17.5b) and a massive drop on 2007, which saw $113b (£69.5b) worth of hotel deals. JLL Hotels forecasts that the hotel transactions market will be worth between $11b (£6.75b) and $13b (8b) next year, largely driven by single hotel assets of up to $100m (£61.5m).
Source: Caterer Search, 18/12/2009
Council to pursue Skegness park scheme
East Lindsay District Council is set to explore alternative funding options for the regeneration of a disused building in the centre of a Skegness park after failing to receive government support. The council was unsuccessful in its bid to secure funding through the Sea Change initiative, which would have contributed towards a £1m project to transform the Inn on the Park in Tower Gardens into a new community venture.
Source: Leisure Opportunities, 15/12/2009
UK bucking the trend in hotel revenue
Both revenue and occupancy continues to fall at European hotels, but the UK seems to be weathering the storm rather well. A year-to-date report from research company Deloitte shows that revenue per available room (revPAR) in the euro zone was down 19.2 per cent – at $58 – on last year. The UK too, has suffered, but the staycation effect has offset the fall in inbound tourism. London boasts the highest occupancy in Europe at 79.8 per cent, while Glasgow and Edinburgh were the only two cities in Europe to show positive occupancy growth for the period.
Source: Leisure Opportunities, 15/12/2009
Go Ape announces major 2010 expansion plans
Go Ape has announced plans to open seven new high-wire forest adventure parks across the UK in March 2010 as part of the company’s efforts to open 40 sites by 2012. Two of the new courses – Pembrey Country Park, Carmarthenshire, and Coed y Brenin Forest Park, near Dolgellau – will be situated in Wales, following the launch of the first Welsh Go Ape site near Part Talbot in March 2009. Go Ape will unveil its second Scottish course at Beecraigs Country Park, West Lothian, and plans to open a course at Black Park Country Park, near Slough, Berkshire, as part o the expansion proposals. The new locations, which will take the total number of Go Ape courses to 29, will boast three new features, including a twisting bridge made up of strong wire and round logs and a crossing comprising wooden steps between wires that will give users the chance to jump or step across. Eastleigh Borough Council (EBC) has already approved plans for the development of a new £250,000 Go Ape forest adventure course at Itchen Valley Country Park in West End, Hampshire. The facility will boast five separate sections featuring ladders and walkways.
Source: Leisure Opportunities, 15/12/2009
Independent inquiry launched into sports facilities
An independent nationwide inquiry has been launched to chart the standard and range of the UK’s sports facilities. The inquiry will take evidence from a range of organisations, sports bodies and individuals including members of health clubs and sports clubs as well as users of parks, pitches and waterways. The survey hopes to chart whether the country has enough sport and leisure facilities, what condition they are in and how easily people can access them.
Source: Leisure Opportunities, 15/12/2009
Coventry’s Ricoh Arena plans multi-million-pound expansion
Coventry’s Ricoh Arena has announced £3m expansion plans to attract further indoor concerts, conference and exhibition business. Plans include transforming the southern side of the £113m, multi-purpose venue to create an extra 27,000 sq ft of space in three new halls, in addition to the 65,000 sq ft Jaguar Exhibition Hall. A 650-seat auditorium will also be built as well as a new entrance on the southern side of the five-year-old building.
Source: Leisure Opportunities, 04/01/2010
Alton Towers to launch 'psychoaster' in March
Alton Towers is to launch a new £15m rollercoaster in March. The Thirteen attraction is being touted as a terror-thrill ride, or "psychoaster", and as a result, only visitors aged between 16 and 55 will be able to ride it. According to Alton Towers, Thirteen will be "based on the discovery of an unearthed ancient burial site in an area of unexplored woodland known as the Dark Forest". "Built on the site of the old Corkscrew rollercoaster, visitors will be invited to take a petrifying ride on Thirteen, venturing into the seemingly living and breathing dark forest. There they will face an unknown horror that has been unleashed from the ancient crypt. The ride is scheduled to open on 20 March.
Source: Leisure Opportunities, 03/01/2010
Work starts on new Brockholes visitor centre
Work is set to start on the development of a new floating visitor centre at Brockholes Wetland and Woodland Reserve near Preston, Lancashire, in a bid to establish the site as a major attraction. The facility is being developed as part of the £59m Newlands regeneration scheme through a partnership including the Forestry Commission, the Northwest Regional Development Agency (NWDA) and site owner Lancashire Wildlife Trust (LWT). Designed by London-based Adam Khan Architects, the new centre will float on the reserve's main lake and will boast a café, a shop and a gallery, as well as meeting and education rooms in a bid to allow visitors to engage with the natural world. Around £8.8m has been invested in the transformation of Brockholes Wetland and Woodland Reserve, which boasts wildlife habitats covering more than 106 hectares (261.9-acres), including lakes, reed beds and grasslands. An adjacent 66-hectare (163.1-acre) area of semi-natural ancient woodland also forms part of the site. LWT chief executive Anne Selby said: "The start of work at Brockholes is a momentous occasion for us and for the region as a whole, and it comes at an appropriate time, almost exactly three years on from our purchase of the site. "We have worked hard since then to get to this stage and look forward to continuing towards our goal, which is a natural adventure that brings wildlife to everyone and can inspire, educate and entertain all at the same time." NWDA head of environmental quality, Richard Tracey, added: "Brockholes is an important site for the region and a flagship for the Newlands programme. It is a prime example of how the natural environment can be harnessed to create economic activity. "Not only will Brockholes enhance the positive perception for the area, it will also provide a distinctive visitor attraction creating new jobs on the site, offering a well managed green space for local people that will influence future investment for the area."
Source: Leisure Opportunities, 29/12/09
JD Wetherspoon swoops on 12 late-night venues
JD Wetherspoon is close to completing the acquisition of 12 late-night venues from 3D Entertainment, the Chicago Rock Cafe owner, for about £4.3m. The group, which already runs 740 pubs, including seven acquired from 3DE in September, is tipped to exchange contracts on the outlets early in the new year. The sale of the outlets is part of a wider disposal at 3DE which has another 50 venues, some under the Jumpin Jaks brand. Most of the other units are likely to be acquired by one of three bidders: R Capital, Matterhorn Capital and Brook Leisure. 3DE is 49% owned by Luminar, the quoted nightclub operator. The remainder is owned by management, holding 30%, and Prestbury, the property group led by Nick Leslau, which holds 21%. Prestbury also owns the freeholds of about 20 of the group's venues and is said to be ready to lower the rents in the event of a sale.
Source: Estates Gazette, 31/12/2009