• Issue 1048

Sofitel for Sydney


Investor Jerry Schwartz has pre-funded a new Sofitel in Sydney, Australia. Schwartz is paying developer Lend Lease AUD368m for the 616 room hotel, with Accor agreeing to brand it, reports The Australian.


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London hotel hold-up


Staff at a London hotel have been robbed at gunpoint. Raiders at the Dean Street Townhouse, part of the Soho House chain, escaped with money and valuables, reports the London Standard. 


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New CFO for Starwood


Starwood Hotels & Resorts has appointed Thomas Mangas as the group’s new executive Vice President and chief financial officer. He will report directly to CEO Frits van Paasschen. 


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Orascom back in black


Improving confidence in Egypt is boosting hotel bookings and helped Swiss based operator Orascom to return to profit. The company reported its first six monthly profit since 2010, reports Bloomberg. 


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