• Issue 1014

Serviced apartment challenges

 

The serviced apartment sector is making significant steps towards clarifying its offer to guests. Problems agreeing terms used, and a lack of a classification system for properties, are hampering sector growth, reports HVS.

 

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London heads booming cities

 

London is the top destination of choice for international travellers. The UK capital heads the rankings in the Mastercard Global Destination Cities Index for the third time in four years. 

 

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Wetherspoons hotel growth

 

Pub chain JD Wetherspoon has bought the 21 room Browns hotel in Tavistock, Devon, off a guide price of GBP1.5m. The acquisition means Wetherspoons now has more than 30 hotels in its growing chain, reports Christie + Co. 

 

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Wanda moves on luxury chain

 

Chinese investor the Wanda Group is to invest USD900m building a skyscraper hotel in Chicago. The project is part of a major push into luxury hotels, with at least 12 promised around the world by 2020.

 

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Starwood share sale

 

Starwood chief Frits van Paasschen has cashed in USD4.2m of Starwood shares. The sale still leaves him with around USD20m of stock held in the hotel group, reports WKRB. 

 

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