• Issue 1050

Stafford chooses Preferred

 

London’s Stafford hotel has signed under the affiliate brand platform the Preferred Hotel Group. The relaunch as an affiliated independent property follows the hotel’s termination of its Kempinski branding earlier this month.

 

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Positive July in Europe

 

Hotels in Budapest and Zurich enjoyed a strong July, with goppar up almost a third. In Madrid, revpar was up 7.5% with both occupancy and room rate improving, report Hotstats.

 

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Hyatt sets green targets

 

Hyatt has committed to reductions in waste, water and energy use in new 2020 sustainability targets. A strategy document calls for more efficient property development, and sets out a desire to innovate and inspire.

 

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Jin Jiang buy

 

Chinese private equity investor Hony Capital has bought a USD246m stake in hotel company a Shanghai Jin Jiang. The investment gives Hony a 12.43% stake, making it the largest institutional investor in the company, reports Reuters.

 

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Ascott adds in India

 

Serviced apartment operator Ascott has signed its first Somerset branded property in the Indian city of Gurgaon. A 174 unit property will open there by 2019, reports the Straits Times.

 

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