Motel One leaseback
French investor Fonciere des Regions has agreed a new investment partnership with German brand Motel One. The arrangement starts with FdR paying EUR34m to buy and lease back Motel One hotels in Berlin and Frankfurt.
M&C improves margins
Millennium & Copthorne saw revpar up 6.9% in constant currency last year, with room rates up 4.2%. All operating segments except Singapore saw positive growth, while hotel operating margins increased by 1%, the company reports.
Hotels in Indonesia are suffering from a presidential cutback on spending. Civil servants have been banned from holding meetings in hotels, a move that should save the government USD1.9bn this year, reports Bloomberg.
Fairmont heads for Bahrain
Fairmont Hotels & Resorts has signed a deal to open a 215 room hotel in Bahrain, part of an integrated resort. The project, which will include a public beach, hospitality and entertainment facilities, is due to open in 2018.