Dominvs London buy
Dominvs Group has bought a hotel site in Tooley Street, London, winning a competitive bid process for the development. The historic former magistrates court and police station is destined for conversion to a hotel with between 150 and 200 bedrooms.
Dubai heads for 2020 target
Dubai is easing approvals for hotel projects, in its bid to prepare for Expo 2020 and a target of 20 million visitors that year. To achieve that, the emirate will need up to 160,000 hotel rooms, with many more in lower categories, reports Bloomberg.
Korea gambles on Caesars
Caesars Entertainment and Hong Kong developer Lippo have won approval to build the first foreign-owned casino entertainment complex in South Korea. The hotel, gambling and shopping development will cost up to USD2.2bn, reports Bloomberg.
Choice share sale
Family trusts holding shares in Choice Hotels are making 3,000,000 shares available for sale. The offering, which is being underwritten and has a 450,000 share overage allotted, will not directly benefit the company.
The historic Tregarthen Hotel on the Isles of Scilly has been put up for sale. The hotel, visited over the years by guests including the Queen, Alfred Lord Tennyson and Prince Charles, was established in 1848 by a local sea captain.