'Substantial' investment planned for Phoenicia

The new Irish owners of the Phoenicia Hotel in Floriana, Heuston Hospitality, have announced plans for substantial investment in the property.

Heuston Hospitality acquired the landmark hotel from Starwood Hotels and Resorts.

"The Phoenicia is an ideal destination hotel for the fast growing luxury leisure and groups market," CEO Peter Stephenson said.

"Our plans include substantial investment in the hotel team as well as in the fabric of the building. Our long-term development plans include a refurbishment of bedrooms, restaurants and conference facilities as well as the creation of a luxury spa and the addition of new bedrooms."

Prior to acquisition, leading commercial real estate advisers, CB Richard Ellis Hotels, were appointed by Heuston to provide valuation services.

The Phoenicia complements Heuston Hospitality's portfolio of highly individual hotels and resorts, which focus on character and personal service and include the luxury ski resort Pragelato Village Resort & Spa in the Italian Alps and the prestigious Oakley Court Hotel on the banks of the River Thames in Windsor.

New developments in Heuston Hospitality's portfolio include a multipurpose complex in the heart of Tuscany with three hotels, a spa and a range of luxury villas, as well as five-star hotel and resort developments in Turks & Caicos and Belize.

Heuston Hospitality is an Irish company based in Dublin. It was launched in 2005 by Peter Stephenson, previously managing director of Forte Hotels UK and CEO of MyTravel Hotels & Resorts.

The company is allied to the Redquartz Hotel Group, Ireland's largest hotel owner whose range of properties includes the Choice Hotels Ireland portfolio and the Prem Group portfolio of Days Inn and Ramada hotels in Ireland.