Hospitality Industry News
Madrid, Spain – 28 February 2018 – Spain’s largest hotel company Melia reported a near 9 percent rise in full-year core profit as a strong tourist season at home compensated for weakness in Cuba in the wake of Hurricane Irma. 1 Meliá Shanghai Hongqiao “The international tourism industry has experienced a
Hospitality Industry News
France, Paris – 28 February 2018 – French hotel group AccorHotels has agreed to sell 55 percent of its AccorInvest property business to a group of sovereign and institutional investors for 4.4 billion euros (US$5.3 billion). 1 The company announced plans to sell the majority holding to investors including
Hospitality Industry News
Jaipur, India – 28 February 2018 – Marriott International announces the opening of the JW Marriott Jaipur Resort & Spa, marking the debut of the global luxury brand in India’s fabled Pink City. 1 JW Marriott Jaipur Resort & Spa Nestled among the hills of the ancient Aravalli Range in the
Hospitality Industry News
Bangkok, Thailand – 28 February 2018 – Holiday Inn Vana Nava Hua Hin has opened on Thailand’s Gulf coast, becoming the first Holiday Inn water park resort in Asia. 1 Holiday Inn Vana Nava Hua Hin The hotel features 300 rooms and suites, including a series of inter-connecting rooms and KidSuites,
Hospitality Industry News
London – 27 February 2018 – Starwood Capital Group, a leading global private investment firm, announces that a controlled affiliate of Starwood Global Opportunity Fund XI has acquired a portfolio of seven Hilton hotels throughout the United Kingdom, totalling over 1,300 rooms from Park Hotels & Resorts for £135 million. The
Hospitality Industry News
Singapore – 27 February 2018 – Two Singaporeans on trial for unauthorised short-term rentals posted on Airbnb pleaded guilty in the first such cases under the city-state’s rules on short-term property letting introduced last year, Reuters reported. 1 The two men were charged for letting four units in a condominium for
Hospitality Industry News
Bangkok, Thailand – 27 February 2018 – Thai property firm Singha Estate said it will buy six hotels across four countries from a Hawaii-based hotel group for about US$250 million. 1 Singha Estate will buy a total of 859 rooms from properties on the resort islands of Phuket and Samui in
Hospitality Industry News
Dubai, UAE – 20 February 2018 – Omniyat announces that Dorchester Collection will manage its luxury One Palm development on The Palm Jumeirah. 1 One Palm will be the first residential development in the Middle East to be managed by Dorchester Collection. (Photo: Omniyat) The news follows last week’s announcement of
Hospitality Industry News
London – 20 February 2018 – InterContinental Hotels Group said it would not pay out any additional capital to investors in 2018 as it announced a better-than-expected profit for 2017 and a new strategy to speed growth, Reuters reported. 1 The operator of Crowne Plaza, Holiday Inn and InterContinental hotels plans to
Hospitality Industry News
Munich, Germany – 12 February 2018 – German budget hotel chain Motel One could float on the stock exchange if it decides to expand to the United States or buy a competitor, chief executive Dieter Mueller told German daily Handelsblatt. 1 “When it comes to the question of how to best finance
Hospitality Industry News
Beijing, China – 12 February 2018 – Overseas property investments by Chinese institutions, including in hotels, are expected to drop by 30-40 percent in 2018, from a record US$42.2 billion last year, amid tighter government controls and approval procedures, a real estate services firm said. 1 A slide in the
Hospitality Industry News
Cape Town, South Africa – 8 February 2018 – Tsogo Sun Holdings plans to build a desalination plant that will help supply its Cape Town hotels with their own water, shielding guests of South Africa’s biggest hotel and casino operator from the city’s deepening water crisis, Bloomberg reported. 1 Cape