Highgate expansion deal
US hotel manager Highgate Hotels has sold a minority stake to private equity investor Trilantic Capital Partners. The deal signals that Highgate, which manages under brand flags including Hilton and Marriott, is looking to expand, reports the Wall Street Journal.
Peel turns the corner
Peel Hotels saw revenues up 4% in the first half of 2014, at GBP8.56m. Operating profit was up 47.4%, with revpar up 8.3%.
Topland backs Hampton
Investor Topland has provided GBP20m of funding to develop a Hampton by Hilton in London Docklands. The 190 room project is being developed by Marick Capital.
Virgin Chicago launch
Virgin has announced a January 15 opening date for its first hotel, in Chicago. The 250 room hotel’s restaurants and bars will follow with openings in February, with a rooftop bar due in the spring.