Tripadvisor review setback
A Scottish couple have failed in their bid to force Tripadvisor to reveal the source of two reviews critical of their guesthouse. A Scottish court decided it had no jurisdiction, saying any claim must be heard in Tripadvisor’s home state of Massachusetts, reports The Scotsman.
Revpar delivers for Wyndham
Wyndham increased revenues 9% in the fourth quarter, with a full year increase of 10%. In the hotels business unit, system wide revpar was up 3.8% in the fourth quarter, with adjusted ebitda up 3% at USD64m.
Grand City refinancing
Funder Deutsche Pfandbriefbank has refinanced EUR139m of debt against eight Grand City hotels in Germany and Holland. The five year deal covers five properties rebranded under Wyndham flags during the last year, including hotels in Berlin, Mannheim and Amsterdam, reports Property Week.
Zecha regains Aman
Indian real estate giant DLF has sold hotel subsidiary Aman Resorts to its founder Adrian Zecha, through vehicle Peak Hotels & Resorts. The price of USD358m is higher than the enterprise valuation of USD300m set in late 2012, reports Bloomberg.
Staybridge Saudi trio
IHG has signed to open its third Staybridge Suites in Saudi Arabia. A 189 suite property in Al Khobar will run under a 20 year management agreement with local partner Al Khorayef & Sons.