LRG signs Redefine
Management company Redefine BDL has signed a deal to add 22 hotels to its portfolio, making it Europe’s largest manager of IHG properties. The agreement with LRG Acquisition Ltd adds 19 Holiday Inns and 3 Crowne Plaza properties in the UK, with almost 6,000 rooms.
Late fees introduced
Both Hilton and Marriott will introduce late room cancellation fees from January. The change is part of a move by the hotel sector to make more from additional fees, reports the New York Times.
Aloft Mexico expansion
Starwood has sold its 229 room Sheraton hotel in Monterrey to Mexican Reit FibraHotel. The USD13.5m deal will include FibraHotel carrying out a comprehensive refit within the next two years.
Hilton Sydney sale
Hilton expects to raise at least AUD400m from the sale of the Sydney Hilton. Agents JLL has been appointed with the aim of completing a sale by mid 2015, reports Bloomberg.
Kempinski towers over Kuala Lumpur
Kempinski has signed an agreement to manage a hotel and residences in Kuala Lumpur, Malaysia. The development, 8 Conlay, will feature two skyscraper towers and is due for completion in 2020.