• Issue 1031

Dalata adds Dublin assets

 

Irish hotel investor Dalata has agreed a EUR21.8m deal to buy a 25% stake in companies owning the Clyde Court and Ballsbridge Hotels in Dublin. Dalata says the deal could lead to them buying the company interests outright. 

 

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Far East Europe buy

 

Singaporean investor Far East Hospitality Holdings has spent EUR107.1m buying into four European hotels. A joint venture deal with partner Toga Group has bought two Adina Apartment hotels in Berlin, and one each in Frankfurt and Copenhagen, reports Singapore Business Review.

 

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Ibis for Dubai

 

Accor has teamed up with Indian developer Hiranandani to create an Ibis Styles hotel in Dubai. The 350 room property in Business Bay is scheduled to open in mid 2016.

 

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Hilton upgrades outlook

 

Hilton saw systemwide revpar increase 6.7% in the second quarter, on a currency neutral basis, with Middle East and Africa the only region negative. The strong performance has led management to increase full year outlook. 

 

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IHG merger pressure

 

Activist investor Marcato Capital has hired a merchant bank to help to find a US merger partner for InterContinental Hotels Group. The deal would exploit tax benefits IHG enjoys from UK registration, reports the Wall Street Journal. 

 

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