Pods on the rise
Hotels with small format bedrooms are spreading across the UK, having previously been just a London phenomenon. Projects in Bristol and Liverpool are leading the expansion, with brands including Hub, Moxy, Yotel and ZHotel, reports Savills.
Waldorf for Bali
Hilton has signed to open its first Waldorf Astoria branded property in Indonesia. The 96 villa hotel will be in the Bukit Pandawa area outside Bali, on a clifftop location with stunning sea views.
Morgans sale demand
Activist investor Kerrisdale Capital Management has nominated seven candidates to the Morgans Hotel group board. Kerrisdale, which has acquired more than 3% of Morgans stock, has called for an auction of company assets, reports the Wall Street Journal.
Sahara looks to sell
Sahara Group is canvassing offers for its 75% stake in Manhattan’s Plaza Hotel, acquired for USD431m. Sahara chief Subrata Roy is being held in India over a bond issue in India used to raise funds from small investors, reports the Wall Street Journal.
Macau bets on growth
Developers Galaxy Entertainment and Melco Crown are set to win the next round of resort expansion in Macau. Eight new casinos will help the Cotai Strip more than double gaming revenues to USD115bn in four years, reports Reuters.