• Issue 1013

Adagio duo for sale

 

Union Hanover and EquityBridge Asset Management are to forward sell a pair of London Adagio aparthotel properties. The sites, in Whitechapel and Stratford, are being marketed by Colliers and JLL for GBP70m and GBP40m respectively.

 

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Belmond adds Cadogan

 

Belmond has signed a management agreement to take on the Cadogan hotel in London. The 64 room hotel is to undergo a USD48m refurbishment before opening under the new flag in summer 2016.

 

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Aberdeen addition

 

Canadian hotel group Sandman is to open its first British hotel in Aberdeen. A 220 room hotel will be created by converting a former university building, reports the Evening Express.

 

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CPI adds Mamaison

 

Czech hotel operator CPI is expanding internationally, taking on ten Mamaison branded properties in Central Europe. The deal will add managed properties in Bratislava, Warsaw, Budapest and Moscow. 

 

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Marriott’s youth appeal

 

Marriott chief Arne Sorenson has called Airbnb “a very interesting experiment,” in a CBS News interview. While “they do some things that we can’t do,” he said the sharing site generally offers something cheaper and less predictable than a hotel room.

 

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