Investment
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India's Samhi Hotels acquires Four Points Visakhapatnam   17 Jul, 2015

India's Samhi Hotels has reportedly purchased the 124-room Four Points by Sheraton Visakhapatnam from Vizag-based Vishnu Priya Hotels for 90-95 crore. Gurgaon-based Samhi has a development portfolio of 25 hotels, comprising 3,800 rooms. Over the last few years, Samhi has consolidated a portfolio of...More>>

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Carlyle Group explores possible divesture of budget chain B&B   16 Jul, 2015

Carlyle Group, the New York-based private equity group, is exploring the possible sale of its budget hotel chain B&B Hotel Group, reportedly enlisting Morgan Morgan Stanley to look into the divestment or possible stock market listing by this fall. More>>

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Global development report shows hotel construction plowing ahead   16 Jul, 2015

With rates on the rise across the globe, is the era of acquisitions being replaced with renewed construction? A new report from STR Global on worldwide hotel development pipelines shows the UK leading development in Europe with 130,652 rooms under contract, though numbers for the region are...More>>

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UK's Grand Hotel planning $23-million expansion   16 Jul, 2015

The expansion of the Grand Hotel & Spa includes an extension into an empty office block next door. The project will create 45 jobs and 107 new guestrooms. The two-year renovation project also involves upgrading rooms in the existing hotel, creating a 160-seat restaurant with outdoor terrace and a...More>>

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IHG signs Holiday Inn Express Bangkok   16 Jul, 2015

The hotel will be part of a mixed development with retail shops, restaurants and bars. The 240-room property will be the fourth Holiday Inn Express hotel in Thailand's capital. Grand Uniland Company Limited will own the hotel, and InterContinental Hotels Group will manage it.More>>

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Pacific Hotel Cairns sold to Australia-based joint venture   15 Jul, 2015

Ascot Capital and Facilimate joined forces to buy the hotel in a deal negotiated by JLL Hotels & Hospitality Group after a campaign that attracted 100 inquiries with 10 formal bids. The hotel has 176 guestrooms, a restaurant, bar, extensive conference and meeting facilities, swimming pool, retail...More>>

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Best Western opens new-build Premier in Indonesia   15 Jul, 2015

Best Western Premier Solo Baru becomes the company's 14th hotel in Indonesia and its first in Solo. It is also only the fourth upscale Best Western Premier hotel in the country, following existing properties in Jakarta and Bali.More>>

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Peru hotel investment to reach US$161 million this year   15 Jul, 2015

Hotel investment projects in Peru are expected to total US$161 million this year with the construction of 11 new hotels with a total capacity of up to 1,242 rooms. Last year's hotel investment projects amounted to US$61 million totaling 490 rooms.More>>

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Bay Bridge hotel in Hong Kong completes update   14 Jul, 2015

Hotel G renovated the hotel's 436 rooms and one-bedroom suites. The updated spaces will officially launch in August 2015, targeting business travelers and tourists. The hotel is 20 minutes away from Tsim Sha Tsui and has access to the airport and Hong Kong’s public transport networks.More>>

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Why Russia is cutting hotels ahead of World Cup   14 Jul, 2015

When Russia won the right to host the finals in 2010, the country promised to provide 100,000 guestrooms for visiting fans. FIFA, football's governing body, only requires 60,000 rooms to be provided, but Russia was on a mission to wow the world. Now, an economic downturn, falling oil prices and...More>>




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