Keyword: Kingdom Holdings
A 130-percent spike in portfolio acquisitions helped to drive hotel deal volume to $34 billion last year, according to JLL.
2018 saw some major deals totaling $18.3 billion and approximately 51,100 hotel rooms with an average sale price per room of $357,000, according to LWHA.
Major U.S. single-asset deals during the third quarter totaled approximately $6.4 billion with an average sale price of $419,000.
The deal is expected to close on June 25, following a long sequence of agreements that have fallen through over the years.
Reports last week that AccorHotels was close to buying Switzerland's Mövenpick Hotels & Resorts have now been confirmed.
Kingdom Holding sold off its stake in the Four Seasons Hotel Beirut in a deal worth between $100 and 115 million.
Saudi investment firm Kingdom Holding may sell its stakes in the Moevenpick Hotel and Four Seasons Hotel in Beirut following the arrest of the firm’s chairman.
While Raffles breaks ground in Udaipur, Accor will team up with the Shrem Group to launch Mumbai's new Fairmont.
Egypt will get the largest sum of foreign investment for its economic reform program.
The Four Seasons Toronto was sold for CND $225 million to Pakistani-American businessman Shahid Khan.