The 126-room property, currently known as the Hotel Rainbow, will be renovated and rebranded as the Travelodge Kowloon as of February 2017.
Hotel deals are on the rise Down Under, so keep an eye on these two local hotel companies that are poised for further growth.
Vesta will manage the property and is planning a multimillion-dollar renovation of the hotel's meeting space, common areas and guestrooms.
Brian Quinn steps into the role having spent his entire career in hospitality, and will lead franchise development for Choice in the U.S.
Hilton's Chris Nassetta and Marriott's Arne Sorenson offer differing viewpoints at World Economic Forum.
Scheduled to open in 2018, the new 414-room Hilton Bogota Corferias will boost the company’s footprint in Colombia, where Hilton already has 13 hotels.
The company hopes that the spin will take effect by the beginning of next year.
Company president Brad Rahinsky was promoted after a unanimous vote by the Hotel Equities’ board of directors.
The conversion is the next phase in the property's multimillion-dollar, three-year capital-expenditure and property-improvement plan.
With this acquisition, Hawkeye Hotels now operates more than 50 hotels across 18 states.