Topic: Franchise Agreements
Extended Stay America has sold 76 hotels in the past 18 months, placing it well ahead of its goal to sell 150 in five years.
Third-party management companies are increasingly offering a route that works for both owners and operators.
Dutch real estate developer Being Development has begun construction on a Yotel in Amsterdam-Noord, the Netherlands.
Hyatt Hotels has partnered with Cedar Fair Entertainment to open a dual-brand Hyatt Place and Hyatt House hotel near Toronto.
Orbis Hotel Group has signed a franchise agreement to open a Mercure hotel in Sibiu, Romania with its local partner and investor Pritax Invest.
Caesars Entertainment is expanding four of its brands—Caesars Palace, Cromwell, Flamingo and Linq—with licensing agreements for worldwide growth.
Orbis Hotel Group signed a management agreement to open an Ibis Styles hotel near Bucharest, Romania with Liwa Properties.
Hilton signed a new franchise agreement with the Al Habtoor Group to rebrand three hotels in Dubai’s Al Habtoor City, effective Aug. 1, 2018.
A Hyatt Hotels' affiliate signed a management agreement to open Budapest's first Hyatt Regency hotel.
The Nordic hotel operator has signed a long-term lease with Finnish private equity fund CapMan Hotels to take over a 178-room hotel in Helsinki.