• Occidental sale nears

AMResorts and Playa Hotels are among bidders looking to buy hotelier Occidental Hotels & Resorts. The company, owned by Zara clothing owner Amancio Ortega and Spanish bank BBVA, could fetch up to USD700m, reports Bloomberg.

Occidental has 19 resorts and city hotels in eight countries across the Caribbean and Latin America. The investors bought into the group in 2007, and refinanced the company’s long term debt in May 2013.
Read the full story here:
http://www.bloomberg.com/news/2014-02-17/billionaire-ortega-s-occidental-hotels-said-to-get-offers.html

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