Preferred Hotels & Resorts has announced 13 new member hotels from May 1 through August 31, 2020. These recent additions mark 39 new member hotels to join the its global portfolio in the first 8 months of the year
Hotel news in China
China total hotel construction pipeline continues to trend upward to an all-time high of 3574 projects and 647704 rooms. Up 19% by projects and 9% by rooms year-over-year (YOY), this is the 12th consecutive quarter China pipeline has increased.
CapitaLand wholly owned lodging business unit, The Ascott Limited continues to see strong demand for its coliving brand lyf, which caters to a growing segment of millennials who seek flexibility, value and enriching community experiences. Ascott is adding over 1,000 units across six new lyf properties.
Hilton announced the signing of an exclusive management license agreement with Country Garden to introduce and develop the Home2 Suites brand in China.
Wyndham Hotels & Resorts, a hotel franchising company with approximately 9,300 hotels across 90 countries, has announced plans for further growth in China as travel in the country continues to show encouraging signs of recovery.
Tribute Portfolio, a collection of independent hotels and resorts from Starwood Hotels & Resorts Worldwide, Inc, has announced three new signings, bringing the brand’s footprint to 20 properties worldwide, exactly double the original growth projection for its first year.
HNA Tourism Group Co., Ltd., a division of HNA Group Co., Ltd., a Fortune Global 500 company with operations across aviation, tourism, hospitality, finance, and online services among other sectors, and Carlson Hospitality Group, Inc. today announced they have entered an agreement, for the acquisition of Carlson Hotels, Inc.
Private equity investor Actis has announced the sale of its minority stake in Plateno Hotel Group (Plateno) to Shanghai JinJiang International Hotels Development Co. LTD (JinJiang Hotels), a Shanghai A share listed subsidiary of the Chinese state-owned enterprise JinJiang Group.