Cody Bradshaw, managing director and head of European hotels at Starwood Capital Group, recommends "outside-the-box" thinking for hotel investors…
The company is on track to expand its footprint in Africa to 200 hotels by the end of 2023.
The TownePlace Suites properties, which were purchased for an undisclosed price, both will be renovated.
The real estate company expects hotel investment levels to remain largely steady this year thanks to strong performance worldwide.
The complex will include office space, housing and leisure facilities as well as a 92-room Premier Inn.
Slated to open in 2023, the Jabal Omar Hyatt Centric Makkah Hotel and Residences will have 196 guestrooms and suites, as well as 200 residences.
The Columbus, Ohio-based investment company acquired the 82-room Tennessean Hotel and the 286-room Holiday Inn Knoxville Downtown.
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.
The Maxx by Steigenberger Vienna, Steigenberger Hotel Herrenhof and the IntercityHotel Wien will be joined by Jaz in the City Vienna in early summer 2020.
Agreement enables Shangri-La Group’s brands of hotels and resorts to be directly connected and promoted on Ctrip’s platform.