Issue 2524 - 7 September, 2020

    Zurich deal

    Dubai-based Five Hotels & Resorts has bought the Hotel Atlantis in Zurich, Switerzland. It will reopen the 95 room property next summer, under its own management. The hotel was sold by a private Qatari group, and had been operated by Giardino Hotels.  Five currently operates hotels in Dubai’s Jumeirah Village and the Palm.

    SoftBank shadows Oyo

    SoftBank, which has backed Indian accommodation disruptor Oyo, is to lead its growth in Latin America. A joint venture will launch the business in Brazil and Mexico, reports Reuters. Oyo Latam will take over 1,000 properties in the region, with SoftBank supporting expansion via its USD5bn Latin America fund. Following writedowns over its investment in [...]

    Bangladeshi duo

    IHG has signed to open a Holiday Inn Resort and Crowne Plaza in Kuakata, southern Bangladesh. The beachside properties are scheduled to open in 2026 and 2028. The hotels will operate under a management agreement with local partner Evalona. IHG currently has 39 hotels across south west Asia, with a further 54 in development. Read [...]

    Novotel for Liverpool

    Accor has signed a franchise agreement to launch a Novotel in Paddington Village, Liverpool. The 221 room hotel is due to open in the second quarter of 2022. The hotel will be managed by Legacy Hotels & Resorts, who already manage the Pullman on the city’s waterfront. Paddington Village is part of a city council-led [...]