• Issue 1108

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.

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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.

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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.

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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.

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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.

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