• Issue 997

Strong start for Premier Inn

 

Whitbread pushed like for like sales at Premier Inn up 9.5% in the first quarter. Revpar was up 8.8% and room nights sold improved by 11.2%.

 

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Scandic IPO progress

 

Private equity investor EQT has hired Morgan Stanley and SEB to lead the IPO of hotel company Scandic. The group could be valued at more than EUR1bn in the Stockholm listing, reports Reuters.

 

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Melia bond incentive

 

Hotel group Melia has launched an incentive scheme to retire its 2009 convertible bonds. Redeeming the bonds will help the company reduce its net debts.

 

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Scandic Berlin addition

 

Scandic Hotels has signed its third hotel in Germany. The company will be taking over the existing 217 room Alsterhof hotel, from September this year. 

 

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Priceline third buy

 

Priceline has completed a trio of acquisitions, in as many weeks. The company announced it was buying Open Table in a USD2.6bn deal, but has also purchased digital marketer Buuteeq, and quietly acquired hotel management system HotelNinjas, reports Tnooz. 

 

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