• Issue 868

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.

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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.

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Macau boom

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.

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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.

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