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    Accor Ibis Styles

    Accor to spin off HotelInvest

    AccorHotels has confirmed plans to turn HotelInvest, its ownership arm, into a subsidiary three years after its creation. The company said that the move would strengthen the company’s financial position, in addition to allowing HotelInvest to expand. AccorHotels said that the project would enable HotelInvest to “initiate a new phase of dynamic growth, by consolidating [...]

    Premier Inn pulls out of India, SE Asia

    Whitbread has announced that it will pull out of India and South East Asia to focus its international growth in the Middle East and Germany. The news came as fresh calls for the company to spin off its owned hotels drove its share price higher. Whitbread said that it would concentrate Premier Inn’s international growth [...]

    Patron looks to distress in Europe

    Patron Capital has raised a EUR949m fund to target “distressed and undervalued investments” in Europe. News of the fund came as CBRE released a post-EU Referendum study in which it described the hotel sector as “exit-resilient in the short term” and pointed to the UK continuing to experience “strong investment volumes”. Patron Capital said the [...]

    Airbnb removes NYC listings

    Airbnb has removed more than 2,000 listings from its platform in New York City, ahead of possible changes to legislation. The news came as the group continued to target business travellers, announcing deals with three separate travel management companies. In NYC the sharing platform said that in order to promote home sharing “in primary residences [...]

    Japan boom drives Reit buy

    The Japan Hotel REIT Investment Corporation is spending JPY47,175m to add three hotels to its portfolio in the country. The purchase is the latest in a series of investments in the country, which has seen a surge of interest as the 2020 Olympics approaches. A JPY14bn loan will be used to fund the buy, along [...]

    Lowcostholidays closes down

    Online travel agent Lowcost Travel Group has ceased trading, blaming increased competition and the recent EU Referendum. The closure comes as consolidation builds in the OTA sector, limiting the routes to market for suppliers. The group operated a travel agency business from headquarters in the UK and offices in Spain, Switzerland and Poland. The group [...]

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