UK prospects brighter
Stronger investor appetite is pushing up hotel prices, which rose an average 5.7% in the UK in 2013. Finance for development is beginning to return for projects with management agreements, report Christie+Co in their 2014 outlook.
Marriott is to open a second Edition branded hotel in New York. A 452 room hotel will be constructed by partner Winthrop Realty Trust at 701 Seventh Avenue for a 2017 opening, reports Bloomberg.
Carlson Rezidor is looking for a second strategic partner to drive further growth in India. It already has a commitment to add 43 Park Inns to its India portfolio, with local partner Bestech Hospitalities, reports the Economic Times.
Indigo for Bali
IHG has signed to open its first Indigo branded hotel in Indonesia. The 280 room resort property will be located in Seminyak on the holiday island of Bali.
Plans for a USD2.5bn leisure and residential development on the Vietnam coast have been revealed by Rose Rock and local partner Vung Ro Petroleum. More than 760 hotel rooms will be included in the Vung Ro Bay project alongside 4,300 apartments and a marina, reports Bloomberg.