Travelodge growth plans
Budget chain Travelodge is two thirds through its GBP70m portfolio refit, which is receiving strong reviews from customers. The group has a pipeline of 5,000 rooms and expects to lift its annual openings to 3,500 to 4,000 rooms a year, reports the London Times.
Qatar buys InterCons
Qatar Investment Authority is taking control of five luxury hotels in European cities. The package includes InterContinentals in Amsterdam, Cannes, Frankfurt, Madrid and Rome, reports Bloomberg.
TUI to add hotels
European tour operator TUI will add hotels and ships to its portfolio as it aims to double customers within five years. A new hotels and resorts brand is promised, along with expansion of its Riu and Robinson flags, reports Bloomberg.
Hyatt buyback increase
The board of Hyatt has authorised the group to purchase up to USD300m of additional shares in the company. The facility could be used to buy in common stock listed on the New York exchange.
Carlson Rezidor has signed to convert the Leogrand hotel and convention centre in Chisinau, capital of Moldova. The 140 room property will reopen as a Radisson Blu in late 2015 following a complete renovation.