Soho in the City
Operator Soho House and developer Sydell Group have won permission for a 252 room hotel in the City of London. The development will convert a historic former bank headquarters, and will open in 2016.
Italy’s hotel market is wide open for penetration by international chains. Just 12.7% of hotels in the country are under chain flags, and most of these are in the higher end of the market, reports Howarth HTL in a country report.
La Quinta floats
Blackstone has priced shares in La Quinta at USD17 each, valuing the hotel chain at USD2.1bn. The IPO pricing, below market expectations, has raised USD650m, with shares trading on the market from today, reports Reuters.
Edwardian case settled
Jasminder Singh, owner of the Radisson Edwardian hotel group, has won a court case brought by his father, claiming a share of the family business. His 87 year old father Bal Mohinder Singh had argued that, according to Sikh tradition, he was entitled to one third of the business, reports the Daily Mail.
Thai operator Centara is opening its first hotel in Laos. The company has signed to launch the five star Centara Grand Hotel Vientiane in 2017.