Topland bags Menzies
Investor Topland has bought the Menzies hotel business along with 12 of the group’s hotels, paying more than the GBP80m price sought by agent Christie + Co. Properties in Luton, Gatwick and Swindon are not included in the deal and are to close.
PPHE secures funds
Hotelier PPHE has refinanced loans against eight of its Park Plaza branded hotels in London and Holland. The agreement with Aareal Bank is a five year facility that will also cover refurbishments, and replaces three loans with earlier expiries.
Macau is running out of hotel capacity, as events help drive ever more visitors to the destination. Gambling revenues jumped 21% in November, with visitor numbers up due to a boxing match and annual motor race, reports Reuters.
Facebook travel move
Facebook is planning a marketing onslaught into the travel sector. The coming months will see the company taking steps to woo the industry in a bid to win more advertising revenue, reports Marketing Week.