Issue 2528 - 11 September, 2020

    Huazhu fundraise

    Huazhu has launched a public offering that will see new shares listed in Hong Kong, as part of an international fundraising. Cash will be used to fund further growth, technology improvements and to partly repay a current credit facility. The company will continue to be listed on the US NASDAQ. The international offer price for [...]

    Canaries test plan

    Hoteliers in the Canary Islands are in discussions regarding a coronavirus test for arriving tourists. The talks are aimed at reviving winter bookings, after a poor summer season, reports Reuters. Visitors could be tested on arrival and on departure, to allay fears around the need to quarantine. The hope is that a test will give [...]

    Fairmont for China

    Accor has signed its first Fairmont resort in greater China. The 523 room resort in Sanya Haitang Bay will launch following refurbishment, in December 2020. The resort will run in partnership with Hainan Keenwin Holdings. Fairmont has also recently confirmed its first Australian property, opening in Port Douglas in 2023.

    Covent Garden buy

    Investors APG and LCP have paid GBP76.5m for a hotel development site in Covent Garden, London. Six properties on an island site have consent for redevelopment with a 146 room hotel. The investors, working under joint venture The Portfolio Club, aim to develop the all suite property as part of a new lifestyle brand destined [...]