Hotel Development News
March, 1 2018
Will Asian Retailers Follow Mujiís Move Into Hospitality?
JLL Real Views - Will Asian Retailers Follow Muji’s Move Into Hospitality?
American furniture retailer West Elm has done it, as have luxury brands such as Armani and Bulgari. Now Japanese lifestyle giant Muji, which is known for its minimalist aesthetics, is taking a step into the hospitality business. Read More
Hotel Development Mozambique
Meliá Maputo Hotel Opens in Mozambique
MeliŠ Maputo Hotel Opens in Mozambique
The Meliá Maputo Hotel will offer 171 rooms and suites and facilities for meetings and events including two event rooms and an auditorium for up to 150 people. Read more
Waldorf Astoria In New York.
China Seizes Control of Insurer That Owns the Waldorf Astoria - CNN Money
The Chinese government has seized control of a deal-hungry insurance firm that owns major assets in the U.S. including the Waldorf Astoria, and is prosecuting the company's chairman. Read more
Hotel Portfolio Sale
Park Hotels Sells 11 Hotels for $317 Million
Hilton Durban Hotel
Park Hotels & Resorts Inc. (NYSE:PK) today announced that it closed on the sale of 11 non-core assets, including a portfolio of three Embassy Suites hotels, a portfolio of seven U.K. hotels and one South African hotel for total gross proceeds of $317 million, equating to $136,000 per key across three separate transactions. Read more
Hotel Development Saudi Arabia Riyadh
Riyadh Palace Hotel to Rebrand As Crowne Plaza
Riyadh Palace Hotel to Rebrand As Crowne Plaza
Dur Hospitality and IHG (InterContinental Hotels Group) have recently announced the signing of a franchise agreement for Crowne Plaza Riyadh Palace, under the master franchise agreement signed in 2014 for 4 hotels. Currently operating as Riyadh Palace Hotel, the property is expected to be rebranded to Crowne Plaza by June 2018. Read more
Hotel Development Malaysia
Park Hyatt Kuala Lumpur Hotel Announced for 2020
Park Hyatt Kuala Lumpur will top Merdeka PNB 118 tower, expected-to-be tallest skyscraper in Southeast Asia Read more
Hotel Portfolio Transaction
Extended Stay America and Three Wall Capital Announce 25 Hotel Sale and Management Contract
Extended Stay America, Inc. will continue to manage the 25 ESA hotels over a 20 year contract. The 25 hotels represent over 2,400 rooms and are located in Ohio, Kentucky, Indiana and Texas. In conjunction with this transaction, Three Wall Capital, LLC has signed an agreement to build 15 additional ESA hotels over a seven year period. Read more
Hotel Development Washington D.C.
Choice Hotels to Develop Cambria Hotel in Growing Southwest Washington, D.C.
Choice Hotels International, Inc. (NYSE: CHH) has signed an agreement with Koucar Management, LLC to develop a new Cambria hotel in Southwest Washington, D.C. Located at 69 Q Street SW, the 154-room, nine-story property will be the second Cambria in the District, joining the Cambria Hotel Washington, D.C. Convention Center at 899 O Street NW. Read more
Hotel Portfolio Transaction
Starwood Capital Group Acquires Hilton UK Portfolio
Starwood Capital Group announced today that a controlled affiliate of Starwood Global Opportunity Fund XI has acquired a portfolio of seven Hilton hotels throughout the United Kingdom, totalling over 1,300 rooms from Park Hotels & Resorts for £135 million. Read more

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In Brief...

Hotel Development China
Hyatt and Tianfu Minyoun Hospitality Announce Three Hyatt Branded Hotels for China

Hotel Development Australia
Crowne Plaza Adelaide Hotel Announced for 2020

Hotel Transaction Florida
Sheraton Suites Plantation in Broward County, Fla Sold for $24.66 Million

AccorHotels Launches Property Spin-off

Hotel Portfolio Sale
Hyatt Sells Three Hotels for $1.0 Billion

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