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Hotel development pipeline in Mexico healthy   25 Nov, 2015

Mexico’s national tourism board predicts that, by 2024, the country will have to build an average of 180,000 new rooms to meet demand. Supply growth is expected be 1 percent to 1.5 percent during the next two or three years, which is below long-term additions to supply as a percentage of growth.More>>

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Steigenberger Hotel Business Bay opens in Dubai   25 Nov, 2015

The 367-room hotel is the company's first property in the United Arab Emirates. The property is owned by Twenty14 Holdings, the hospitality investment arm of LuLu Group International, the Abu Dhabi-based retail giant. More>>

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Ashford Prime acquires Ritz-Carlton St. Thomas for $64 million   25 Nov, 2015

The company intends to finance the property with approximately $40 million of non-recourse mortgage debt. The property will continue to be operated as a Ritz-Carlton property under a long-term management agreement. More>>

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Developers seek EB-5 funding for hotels, but time may be running out   25 Nov, 2015

With the international financing program set to expire early next month, stakeholders are petitioning Congress to reauthorize it for one more year. Take a look at what the program means for America's hotels.More>>

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Sovereign wealth fund buys New York City's London Hotel   25 Nov, 2015

Blackstone Group sold the hotel to the Abu Dhabi Investment Authority for $382 million. The transfer included a direct sale of the 54-story property for $194 million; the buyer assumed the mortgage of $154 million and purchased the furnishings and fixtures. The ADIA also assumed the ground-lease...More>>

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The Hyatt Place DC/National Mall opens   24 Nov, 2015

The Hyatt Place DC/National Mall is owned by E Street Development Group. WDG Architecture is the architect for the hotel and Clark Construction is the general contractor. The property is part of a mixed-use development.More>>

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Chinese hotel group to expand in Thailand   24 Nov, 2015

In March 2016, the Portofino Chiang Mai Business Park will open as Chinese hospitality group Plateno’s second property in the country after the 7 Days Inn in Chiang Mai.More>>

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Rockbridge Capital acquires Oregon Hilton for $44M   24 Nov, 2015

Columbus, Ohio-based Rockbridge Capital purchased the Hilton Eugene (Ore). Rockbridge acquired a majority ownership in the hotel, while allowing former owner Davidson Hotels & Resorts to stay on as the property's manager. In September, Rockbridge also acquired the Valley River Inn in Eugene for...More>>

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South Korea's Mirae buys Fairmont San Francisco   24 Nov, 2015

The Fairmont San Francisco Hotel has been sold to South Korea financial services company Mirae Asset Global Investments for $450 million, around $250 million more than what the sellers Oaktree Capital Management and Woodridge Capital Partners bought the hotel for back in 2012. More>>

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Locals do not expect Marriott-Starwood merger to affect Virgin Island hotels   24 Nov, 2015

Four hotels in the territory fall under Marriott International or Starwood Hotels & Resorts brands, including Marriott's Frenchman's Reef Beach Resort, The Ritz-Carlton St. Thomas, the Renaissance St. Croix Carambola Beach Resort and Spa and the Westin St. John Resort.More>>

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