The Radisson Blu in Edinburgh has been sold off a GBP59m guide price, making it the biggest Scottish transaction since 2007. Deka Immobilien has bought the 238 room property for one of its funds, reports The Scotsman.
Marriott’s million milestone
Marriott expects to breach one million rooms open or under development, by the end of 2015. The claim comes as the World Economic Forum opens in Davos, and Marriott says its hotels have created USD50bn in real estate value, and 150,000 jobs.
Holiday Inn for Busan
IHG has signed to open its first hotel in Busan, South Korea’s second city. A 268 room Holiday Inn is set to open in 2017, in the city’s Seomyun business district.
Japan tourism boom
Japan welcomed a record 13.4m visitors last year, helped by tourist numbers from China almost doubling. A sales tax exemption for foreign visitors also encouraged them to spend more, reports the Wall Street Journal.