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    Marriott launches new credit card loyalty push

     Marriott International has launched its latest credit card in the US; a no-annual-fee product offering those who hold it loyalty points. The new card came as the sector has been looking more closely at co-branded credit cards, with Accor describing the scope to “generate significant revenue” from such partnerships. At Marriott International, the company’s latest [...]
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    Tsogo Sun grows after split

     Shares in Tsogo Sun Hotels pulled ahead of Tsogo Sun Gaming after Tsogo Sun Holdings was split along hotel and casino lines. The company said that it planned to expand through management contracts and new builds and would consider investing further in the UK, where it has a 26% share in management company RBH. Tsogo [...]
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    OTAs see competition complaint

     Danish hotel booking platform Nustay has filed a complaint against Expedia and booking.com in the EU, alleging that they were restricting competition. Nustay said that the pair were imposing “serious commercial consequences” on hotels if they offered lower rates to competitor sites. The platform said in its complaint that pair were “effectively forcing wide [...]
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    Accor to sell Orbis property

     Accor said that it was approaching potential buyers of its stake in Orbis, having taken its holding in the company to 85.84% in February. The news came as Orbis signed to a 20-year agreement to operate its first Ibis Styles in Croatia, with the property due to open in 2021. In Croatia, local partner Rijeka [...]
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    Alpha continues ground rent spree

     Starwood Capital has agreed a GBP40m ground rent deal on its De Vere Beaumont hotel in Windsor with Alpha Real Capital. Alpha Real Capital now has around GBP400m of hotel ground rent assets under management, and has funded over GBP1bn-worth of hotels with ground rents. The hotel was the fund’s largest regional hotel transaction to [...]
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    First Group plans Islamic bond

     Dubai-based The First Group was considering issuing USD135m in sukuk, or Islamic bonds. The company was developing a number of hotels in the emirate, focusing on the mid-market segment. The developer has appointed investment bank Shuaa Capital to arrange the transaction, with the company saying that it was “considering different financing structures in order to [...]
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