Hospitality Industry News
1HRI Properties and Hyatt Hotels Corporation announce plans to convert the current James Robertson building in Nashville, Tennessee into a luxury hotel joining The Unbound Collection by Hyatt portfolio. HRI Properties plans to spend approximately US$50 million to update the building into a 191-room hotel, and upon opening in
Hospitality Industry News
1A historic hotel on the Arizona-Mexico border could be shut down for good if no one steps forward to purchase it, the Associated Press reported. The extravagant Gadsden Hotel in Douglas has been featured in movies and ghost-hunting TV shows, reported KOLD-TV. Douglas is 100 miles southeast of Tucson and
Hospitality Industry News
1The United States has warned its citizens of a potential security threat targeting US-branded hotels in southern Turkey, a US consulate said in a statement, Agence France-Presse reported. The consulate in southern Adana province said on its website that “it has obtained specific and credible threats of potential terrorist activity
Hospitality Industry News
1Anbang Insurance Group had completed most of its US$6.5 billion acquisition of Strategic Hotels & Resorts, helping to bolster the Chinese company’s credibility as a global buyer after its abrupt withdrawal from the bidding war for Starwood Hotels & Resorts Worldwide earlier this year, Bloomberg reported. The
Hospitality Industry News
A Hyatt affiliate has sold the Hyatt Regency Birmingham in the UK for approximately £38.6 million to an affiliate of Bin Otaiba Investment Group. 1 The purchaser will also spend approximately £2.7 million in additional capital expenditures to further improve the property over the next three years. As
Hospitality Industry News
1South Korean prosecutors asked a court to approve an arrest warrant for the chairman of the Lotte Group conglomerate on suspicion of embezzlement and breach of trust, Reuters reported. The arrest warrant request comes after Lotte Chairman Shin Dong-bin, 61, was questioned by prosecutors in an investigation that has battered
Hospitality Industry News
1Marriott International plans to almost double its workforce in the Middle East and Africa over the next three years. The company expects to add 30,000 more people to its regional workforce of 41,000 as new properties are opened, Marriott’s regional president Alex Kyriakidis said. About 6,000
Hospitality Industry News
1Marriott International, which became the world’s largest hotel operator with its US$14 billion purchase of Starwood Hotels & Resorts Worldwide, is moving to combine the companies’ frequent-guest programmes as it integrates 10 new brands into its stable of 17 chains. Members of Starwood’s loyalty programme will have
Hospitality Industry News
1Marriott International has completed its acquisition of Starwood Hotels & Resorts Worldwide, creating the world’s largest company. Marriott now offers a comprehensive portfolio of brands including leading lifestyle brands, a significant global footprint, and leadership in the luxury and select-service tiers as well as the convention and resort segment.
Hospitality Industry News
1A Hyatt affiliate has entered into a management agreement with Chip Mong Group for a Hyatt Regency hotel in Cambodia’s capital, Phnom Penh. Expected to open in 2020, the 250-room Hyatt Regency Phnom Penh will mark the first Hyatt Regency hotel in Cambodia, and will add to Hyatt’s
Hospitality Industry News
1The bidding war for Starwood Hotels & Resorts Worldwide Inc. made global headlines as Marriott International fended off China’s Anbang Insurance Group to become the world’s biggest hotel operator. Now Marriott has to figure out how to use its new edge in another long-simmering battle, Bloomberg reported. This
Hospitality Industry News
1Finding a hotel room in London will be easier next year because companies, worried UK economic growth may slow following the Brexit vote, will cut their travel budgets, according to PricewaterhouseCoopers and reported by Bloomberg. Occupancy rates in 2017 will fall one percentage point to 80 percent, the lowest level