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Hersha selling seven hotels to JV with China's Cindat   8 Feb, 2016

As currently proposed, the JV will be structured with Cindat as the preferred partner holding a 70-percent ownership stake, while Hersha retains a 30-percent equity interest. The transaction is scheduled to close by the end of March.More>>

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Manhattan's Hotel Elysee sold for $55 million   8 Feb, 2016

The 103-room hotel was sold to its current operators Richard Born, Ira Rukier and Henry Kallan. The sale is subject to the terms of its three owners' existing lease, which is valid through May 2041.More>>

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Kuwait's Action Hotels plans hotel for Dubai Media City   8 Feb, 2016

The developer of three- and four-star hotels announced that it bought the 60,000-square-foot site within Media City’s Innovation Hub from a subsidiary of Dubai Holding’s Tecom Group.More>>

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Local groups grab two hotels in England's Southwest   8 Feb, 2016

The Splendid Hospitality Group nabbed its first property in the region when it acquired the Mercure Bristol Brigstow Hotel, and Cotswold Inns and Hotels purchased the The George Hotel in Cheltenham.More>>

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Paris' largest hotel may be up for grabs   5 Feb, 2016

Mount Kellett Capital Management has reportedly instructed Eastdil Secured LLC to "explore a sale" of the 1,025-room Le Meridien Etoile, Paris' largest city-center hotel by room count.More>>

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New Zealand's Pandey family buys Novotel Wellington   5 Feb, 2016

In Wellington, New Zealand, the Pandey family has purchased the 139-room Novotel Wellington for an undisclosed price that is reportedly a record for the city. The sale is the first major hotel deal in the country this year.More>>

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Westgate Oxford Alliance acquires Oxford's Castle Quarter   4 Feb, 2016

The Westgate Oxford Alliance, a joint venture between Land Securities and The Crown Estate, has acquired the Castle Quarter in Oxford (which includes a Malmaison hotel) for £47.2 million from The Trevor Osborne Property Group.More>>

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Sahara Group sells London's Grosvenor House Hotel to Qatar   3 Feb, 2016

Advocate Kapil Sibal, representing the Group, did not disclose the sale price, but told India's Supreme Court that Sahara would have a surplus amount of Rs.2,350 crore from the proceeds of the sale after using a portion to help pay the bail of Sahara Group founder Subrata Roy.More>>

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Nine Hospitality Investments purchases Swansea's Dragon Hotel   3 Feb, 2016

Nine Hospitality Investments purchased the Welsh hotel, which had an asking price of some £4.75 million. The new owners are reportedly looking to "reposition" the hotel.More>>

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Minor Hotel Group completes Tivoli takeover   2 Feb, 2016

The takeover, which totals €294.2 million, marks MHG’s strategic entry into Europe and Latin America and provides the group with an operating platform to grow in those markets. More>>




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