• Issue 1016

Fico European buy

Thai investor Fico Corporation has paid EUR80m for a portfolio of nine hotels in Belgium and Germany. The acquisition includes two Days Inn, two Ibis and five TRYP branded properties, reports the Bangkok Post.

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Taj sells in Sydney

The Indian Hotels Company has sold its Taj hotel in Sydney to Hong Kong buyer Hind Hotels, for AUD32m. The sale will help the group fund further expansion, with Asia Pacific and China key targets. 

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Accor out of Togo

Accor has been told it must quit its beachside hotel in Lome, capital of Togo. The Togolese government has accused the company of failing to meet contractual commitments, reports Reuters.

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Dorchester raid arrests

Two people have been charged after a smash and grab raid at the Dorchester hotel in London. A group who stole watches and jewellery before escaping on mopeds last week have been held, reports the BBC.

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Frasers launched

Units in Frasers Hospitality Trust opened above their offer price after launch on the Singapore market. The listing raised Frasers around SGD368m, reports Bloomberg.

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