• Issue 1117

Lester links with Ramada

Wyndham has signed a development agreement to grow its Ramada portfolio in the UK. A deal with manager Lester Hotels envisages adding 20 hotels.

 

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Element for Amsterdam

Starwood has signed to open its first Element branded hotel in Holland. A deal with Bari Gruppe will see the property open in the Zuid area of Amsterdam in late 2015.

 

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Fresh Club Med offer

Chinese investor Fosun has increased its bid for Club Med to EUR23.50. The offer is EUR0.50 ahead of the latest tabled bid from rival Andrea Bonomi, reports Reuters. 

 

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Cairo commitment

Carlson Rezidor has signed to open a Radisson Blu in Egypt. The 300 room property in Cairo Nasr City will open in early 2016.

 

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Strategic share issue

Strategic Hotels has announced a share offering to raise around USD260m. The funds will be used to pay for the recently acquired Four Seasons Resort Scottsdale, and to redeem preferred stock. 

 

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