• Issue 1078

IHG adds in Stuttgart

 

IHG has signed to open a Holiday Inn Express alongside the central station in Stuttgart. The 140 room new build will open in 2016 and is the third for the brand family in the city.

 

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Fosun wins Club Med

 

The board of Club Med has unanimously recommended a EUR22 per share takeover offer from a group led by Fosun International. The revised Fosun bid trumps an alternative made by Italian investor Andrea Bonomi. 

 

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ASAP pursues growth

 

The Association of Serviced Apartment Providers has announced plans to double its membership in two years. The promotional group aims to sign up 180 operators and agents as it bids to raise the industry’s profile with legislators and consumers.

 

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Eurodisney bailout

 

A EUR1bn recovery package has been agreed in a bid to turn around the troubled Disneyland Paris theme park. Falling visitor numbers, lower hotel occupancy and flat spend per room are predicted for this year, reports Bloomberg.

 

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Manila bet lost

 

Authorities in the Phillippines plan to fine Japanese developer Universal Entertainment for delaying the opening of a new resort in Manila. A deposit will be forfeited and other action is being considered, reports Reuters.

 

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