• Issue 1159

Snoozebox wakes up

Listed portable hotel operator Snoozebox expects to turn a profit in 2016, as it expands its operations through this year. It achieved a GBP2.8m turnover in 2014 with an average GBP117 per room revenue on 24,000 room nights.

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Deal volume rising

Hotel transaction volumes are expected to rise 15% this year to USD68bn, with half the volume in the Americas region. Asian money, and in particular outbound Chinese capital, will drive the growth, predicts JLL in its investment outlook.

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Hilton spends Waldorf cash

Hilton has agreed to buy five hotels, reusing receipts from the sale of the Waldorf Astoria. Parc 55, a hotel in San Francisco, has been bought along with four existing Hilton brand family hotels in Florida.

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Blu for South Sudan

Rezidor has signed to open its first hotel in South Sudan. A 158 room Radisson Blu will open in Juba in the second quarter of 2017.

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Bali hi for Four Points

Starwood has signed to open a Four Points by Sheraton in Bali’s Kuta beach area. The 186 room new hotel is substantially built with an opening upcoming in May this year.

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