• Issue 1033

Redefine HIE buy

 

Redefine International has completed the GBP17.65m acquisition of two Holiday Inn Express properties in the UK. It has bought the outstanding 40% interest in a 150 room Earls Court hotel, and a 48 room extension to the brand’s Southwark property.

 

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London residence demand strong

 

London’s accommodation market is set to see growth in serviced residences attached to hotels. Serviced residences in the UK capital are “massively undersupplied”, reports agent Wetherell.

 

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St Regis for Astana

 

Starwood is to launch its St Regis brand in Kazakhstan, with a joint hotel and residences project. The 120 room hotel with 50 residences will open in 2017 in the capital Astana.

 

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Russian bankruptcies hit

 

Hotels in Greece, Turkey and Tunisia have unpaid bills as a growing number of Russian travel agencies have gone bust. The Russian government is having to repatriate more than 15,000 stranded tourists, reports the Wall Street Journal. 

 

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Hyatt backs New York

 

Hyatt has completed the USD390m purchase of the Park Hyatt hotel in New York. The 210 room hotel is due to open later this month in a 90 storey glass tower. 

 

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