• Issue 892

Plaza sale

The Crowne Plaza hotel in Ealing, west London has been put up for sale with a GBP16.5m price tag. The 131 room hotel is being marketed for administrators to owner Pedersen, by agent Christie + Co.

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Preferred progresses

Preferred Hotel Group saw revenues up 14% in 2013 to USD834m, as the marketing umbrella added 126 new properties. Member hotels saw better day rates, with Mexico up 16% and French properties improving 15%.

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Japanese Tune

Budget hotelier Tune aims to have 20 hotels across Japan by 2020. Local franchisee Red Planet Hotels has confirmed it will invest JPY10bn in growing the chain across the country.

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Currency hits Accor

Accor saw gross revenues up 2.8% in 2013, rising to EUR11.5bn. Like for like revenues were down 3.1% as reported due to adverse currency movements, but profits are now forecast to hit EUR530m.

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Starwood bags Pillars

Starwood Capital has bought UK hotel owner and operator Four Pillars. The deal includes an 863 room portfolio of 5 owned properties and one managed hotel, around the Oxfordshire area.

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