• Issue 999

PPHE gets building

 

Hotel group PPHE has secured funding for its new 438 room Park Plaza hotel on a site in central London. Banque Hapoalim will provide funding of up to GBP80m to complete the hotel, due to open in autumn 2016. 

 

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St Andrews sale

 

The Fairmont St Andrews resort has been put on sale by agents CBRE with a GBP37m asking price. The 209 room hotel with golf courses comes with permission to build additional holiday accommodation on the site. 

 

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Government loan dispute

 

A deal to bail out an Isle of Man hotel group is under scrutiny amid accusations of unfair treatment. A GBP4.5m rescue package was put together by the government to assist the Sefton Group, which owns two Douglas hotels, reports the BBC. 

 

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Blackstone buying

 

Blackstone is to buy a USD800m portfolio of select-service hotels from Clarion Partners. The deal will cover 47 extended stay properties across the US under Residence Inn and Homewood Suites brands, reports Bloomberg. 

 

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More for Ostrovok

 

Russian online hotel booker Ostrovok has secured a further USD12m in funding to assist its growth. The platform already lists 250,000 hotels and has direct partnerships with brands including Marriott, Accor, Rezidor and Fairmont, reports Tnooz.

 

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