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.
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.
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.
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.
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.