Investment
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Best Western to open property in Sulawesi, Indonesia   8 Apr, 2014

Located in the island's main international gateway city and commercial capital, Makassar, the Best Western Plus Makassar Beach has 162 rooms, including nine suites. All rooms come equipped with 32-inch LED TVs, tea and coffee making facilities, alarm clocks and complimentary Wi-Fi.More>>

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Starwood to bring Westin and Le Meridien brands to Bahrain   7 Apr, 2014

The hotels, named the Westin Bahrain City Centre and Le Méridien Bahrain City Centre, are scheduled to open in early July. Starwood's first Bahrain property opened in 1981 with the Sheraton Bahrain Hotel. Since then, Starwood has stepped up its presence in the area, signing eight hotel management...More>>

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Ayala Land to invest $133M to develop ecotourism estate in the Philippines   7 Apr, 2014

The first phase of the project consists of 61 acres hectares, which shall include a township development called Lio Beach Village, including bed and breakfasts, resorts, shops and dining establishments amid civic spaces. Ten Knots Development Corp., a subsidiary of Ayala Land, will develop the...More>>

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Chow Tai Fook purchases the Marriott London Grosvenor Square Hotel   7 Apr, 2014

The deal works out to $877,000 for each room, making it the second-most expensive hotel deal in London this year in terms of price per room. New York-listed Strategic Hotels & Resorts announced it had sold the hotel to an affiliate of Hong Kong-based private equity firm Joint Treasure International.More>>

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Walton Street acquires Ambassador Hotel Waikiki   4 Apr, 2014

The Ambassador Hotel Waikiki has been sold to Chicago-based private equity group Walton Street Capital LLC for $71.5 million. The seller of the 298-room hotel was Ambassador Hotel Inc., part of the group that owns the Waikiki Business Plaza.More>>

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Historic Cincinnatian Hotel hits the sale block   4 Apr, 2014

The landmark Cincinnatian Hotel is on the selling block, reports the Cincinnati Business Courier. Local insurance company American Financial Group has owned the hotel since the early 1990s.More>>

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LaSalle's Hotel Vitale buy in San Fran rivals Ritz-Carlton purchase price   4 Apr, 2014

LaSalle Hotel Properties has formally announced the previously talked about acquisition of Hotel Vitale in San Francisco for $130 million. The purchase price rivals that of the Ritz-Carlton, San Francisco, which was bought last July by Thayer Lodging for $161 million.More>>

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Starwood plans 20-percent portfolio growth in Latin America by 2016   3 Apr, 2014

Mexico, Colombia and Bolivia are major components of Starwood's plan to increase its portfolio in the next two years. Currently, there are nearly 80 Starwood properties open in Latin America. Starwood's specialty select brands are driving positive momentum, particularly in secondary and tertiary...More>>

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Holiday Inn Express opens in San Juan, Puerto Rico   3 Apr, 2014

The 115-room hotel is the fourth IHG hotel in Puerto Rico. A.F.N.S. Condado Investment owns the hotel, which is franchised by an affiliate of IHG. There are a total of 44 Holiday Inn hotels and Holiday Inn Express hotels throughout Latin America and the Caribbean.More>>

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Dubai company buys stake in Kerzner International   3 Apr, 2014

Investment Corporation of Dubai said it bought the stake in Kerzner International Holdings from the family of its founder and several institutional investors. Neither company disclosed the purchase price, but an ICD official told The Associated Press the investment company now owns a stake of more...More>>




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