Fake reviews proliferateUp to one third of reviews on Tripadvisor could be fake, a new study alleges. An operation by The Times revealed higher ranked accommodation providers often have more fake reviews. The newspaper found it far too easy to post fake reviews, which were not challenged. It also set up its own fake site offering to [...]
Delhi decision nearsThe future operator of the Taj Mansingh hotel in New Delhi will be chosen next week. The choice is between just two bidders, Indian Hotels Company and ITC, reports the Economic Times. Owner New Delhi Municipal Council has twice cancelled bidding for a new lease on the hotel, after requiring a choice of at least three offers. [...]
Blackpool additionSingapore investor Fragrance Group has bought a third Blackpool hotel. It has bought the 90 room St Chad hotel from the family that has owned it since 1969. Fragrance previously bought the Imperial in Blackpool, and then the Lyndene hotel. It has also acquired hotels in Manchester and Harrogate.
CapMan shuffles fundInvestor CapMan has reset its Scandinavian hotels fund, with disposals and lease extensions. It has sold six Finnish hotels to French investor Corum for EUR72.4m. Leases with Scandic and Lapland Hotels have been renegotiated, taking the fund’s average lease length to 19.2 years. A seventh hotel, Original Sokos Hotel Royal in Vaasa was sold to KPO-Kiinteistöt [...]
Choice brand additionChoice Hotels has launched what it terms a brand extension, Clarion Pointe. The company has signed an initial 50 franchises for the midscale select-service brand. The brand features improved interior finishes, better in-room connectivity, a fitness space and improved food offering. Choice says the brand is ideal for owners that want to reposition limited service [...]
Headwinds for UKEconomic uncertainty and new supply will flatten UK hotel performance over the next year. Consultant PwC predicts occupancy flat through to 2019, with room rates edging up modestly. PwC expects revpar in the regions to improve 1.2% in 2019, outpacing a 0.3% improvement in London. UK deal volume is expected to peak this year at [...]
Minor raises fundsMinor International, which is bidding for NH Hotels, is raising THB15bn with a debenture issue. The bonds are being offered with a 5.85% per annum dividend. Subscriptions will be taken 24-27 September, with the paper expected to be issued on 28 September. The bonds have a BBB+ rating.
Oyo arrives in UKIndian budget hotel disruptor Oyo Rooms is to invest GBP40m growing a UK presence. The group aims to have 5,000 UK rooms under the brand by 2020, reports Reuters. Oyo aims to franchise independent hotels, providing its branding plus marketing support. The group already offers more than 210,000 rooms across South Asia. Read the full [...]
Riu comes to LondonSpanish hotel brand Riu has signed its first UK property. It will open a Riu Plaza hotel in London’s Victoria, in 2020. The 350 room, four star property will open in a building the company has bought with permission for conversion to a hotel. The Plaza brand currently has six properties open, with two others [...]
Taj adds in DubaiIndian Hotels Company has signed its fourth Taj hotel in Dubai. A 200 room property will be delivered by Ithra Dubai, for an early 2022 opening. The hotel will be part of the Deira Waterfront development, and will feature a number of rooms cantilevered out over the water. Taj already operates a hotel in Business [...]
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