MCR has acquired a quintet of Marriott and Hilton hotels in Texas and Washington for $94 million.
Urban - Economy News
Wyndham Hotels & Resorts continues to expand its brand in New Zealand by opening two new hotels.
Hyatt Place celebrates the official opening of its new hotel in the UK, Hyatt Place London.
Park Inn by Radisson Clark has opened its all-new South Wing, adding more accommodation options for guests in the Philippines.
Hyatt Place Evansville/Downtown, the first Hyatt-branded hotel in the Evansville Indiana region, is officially open.
IHG Hotels & Resorts is expanding its Premium & Essentials Collections in France by openings two hotels, Crowne Plaza Nice - Grand Arenas and Holiday Inn Express Nice – Grand Arenas, in partnership with HPVA HOTELS.
Clarion Pointe, a midscale select-service brand extension franchised by Choice Hotels International, Inc., celebrated another milestone: the opening of its 30th property.
Marriott International announced it has signed an agreement with RIMAP Hospitality to debut Moxy Hotels brand to Montreal.
The avid hotels brand is growing with seven new cities, including three hotels in Texas
Xenia Hotels & Resorts sells DoubleTree By Hilton Washington D.C. for $65 million. The price represents a 15.7x multiple on the hotel's 2015 EBITDA and a 5.5% capitalization rate on 2015 net operating income. In addition to the purchase price, the company retained the approximately $3.1 million balance in the hotel's capital expenditure reserve account.
AccorHotels is pleased to announce that it will open a new-build Novotel hotel with 200 rooms at Christchurch Airport following the signing of an agreement with Christchurch International Airport Ltd.
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.