Accor buys Mama Shelter stake
Accor is acquiring a 35% stake in budget chic hotel chain Mama Shelter. The deal will help the French chain expand internationally, with a target of 20 hotels over the next five years.
Crunch time foTui
Management at merger partners Tui AG and Tui Travel have restated the benefits of the link at EUR170m. Higher hotel occupancies, and the opening of 30 new exclusive hotels will generate EUR70m of increased returns, reports the Financial Times.
Green is go at IHG
IHG is rolling out its Green Engage programme globally. The environmental tool has cut water usage at group hotels, and saved USD73m in energy costs in 2013.
Hilton for Colombia
Hilton has signed to open a Hilton branded hotel in Santa Marta, Colombia. The 261 room hotel is due to open in the Caribbean port location in 2017.