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1. Riverside, Aleph, Rotana plan luxury hotel in Somalian capital Mogadishu
Somalia-based hotel owner Riverside Holding, along with Dubai-based operator Rotana Hotels and management firm Aleph Hospitality, plan to open what Rotana claims will be Somalia’s first luxury hotel in capital Mogadishu. Due to open in 2026, the 321-room Mogadishu Rotana will be at the city’s Aden Adde International Airport.
In a news release, Rotana said “the hotel forms part of a transformative master plan to redevelop the capital into a thriving urban destination. The development plans also include a convention centre, hospital, shopping mall, residential properties, business park, and school in the area.”
Somalia has been the site of conflict and civil war that has raged since the late 1980s, and the country has been declared at times as a failed state.
2. Meliá announces luxury hotel in world’s southernmost destination
Argentine owner Grupo Mirgor and Spanish hotel operator Meliá Hotels International intend to construct and open a luxury hotel in Ushuaia, Argentina, considered the world’s southernmost tourism destination. The Rio Times reports the $50 million Gran Meliá hotel, due to open in 2028, will have 200 guest rooms and will include an 800-person auditorium and a spa.
Ushuaia is located at the bottom tip of Argentina’s vast, wild Patagonia region. The newspaper added that “the luxury tourism market [in the region] is projected to grow 7.6% annually until 2030.”
3. Thick fog disrupts UK flights for fourth day
Warmer air sweeping over seasonally cooler ground has caused widespread fog over parts of the United Kingdom and has caused numerous flight cancellations and delays since Christmas Day, according to The Guardian. Flights were disrupted at the U.K.’s two principal airports, London Heathrow and London Gatwick, but airports throughout the country also have been affected.
“NATS, the U.K.’s main air traffic control provider, said temporary air restrictions were in place for the remainder of [Dec. 30] because of low visibility in airfields affected by fog,” even though the fog has dissipated in many areas, The Guardian reports.
4. Single-hotel deals in A-list cities lead Europe’s 2024 transactions
The most notable hotel transactions in Europe in 2024 included single-asset deals in a couple of Europe’s most-celebrated cities, according to Hotel News Now’s Terence Baker. In Paris, Gruppo Statuto acquired the 135-room Mandarin Oriental, Paris for €205 million and in May Singapore-based Copthorne Hotel Holdings acquired the 268-room Hilton Paris Opéra sold for €240 million.
Elsewhere, Mohari Hospitality made waves with its acquisition of Venice’s famed 191-room Bauer Hotel for a reported €300 million, and the hotel will be renovated and branded with Rosewood Hotels & Resorts.
Click on the link above for an in-depth look back at European transactions’ activity over the last 12 months.
5. Spanish inflation rate rises for fourth straight month
Spain's inflation rate rose 2.8% year over year in December, which marks four consecutive months of increases. In November, Spain's inflation rate increased by 2.4% year over year, according to The Wall Street Journal, which said the rise is “a signal to European Central Bank policymakers that price pressures remain ahead of its first meeting of 2025 next month.”
The newspaper added that the ECB has predicted that inflation across its 20-nation bloc would average at close to 2% across 2025, and it has cut its official interest rate level from 4% to 3% over the last 12 months.