HA Daily

    Melia signs Kuala Lumpur

    Melia has signed its first INNSIDE hotel in Kuala Lumpur. The 238 room will open in the Malaysian capital in 2019. The hotel will be part of the Lumpur Cheras project, including a shopping centre and offices. Melia has five hotels open or in development in Malaysia. Read the full story here: https://www.meliahotelsinternational.com/en/press-room/12142018/melia-hotels-international-signs-first-innside-melia-property-kuala-lumpur

    Brookfield nears Leela deal

    Canadian investor Brookfield Asset Management is close to acquiring Indian hotel group Leelaventure. The company will pay around INR4,500 crore to buy the brand, plus five sites, reports Livemint. The company and its lenders are said to be evaluating several offers that have been tendered. JM Financial ARC owns 26% of Leela shares, following a transfer [...]

    Two for Meininger

    Hybrid operator Meininger has signed hotels in Reykjavik and Washington DC. The properties, with 442 and 616 beds respectively, will both open in 2020. The Icelandic property will be converted from a 1940s warehouse. In Washington DC, Altus Realty will develop a 13 storey new build, for long term lease.

    Orchard bags Newcastle pair

    Investor Orchard Street Investment Management has purchased two Newcastle hotels in a GBP38m deal. The move gives it the Travelodge Quayside, along with a yet to be completed Melia INNSIDE hotel. Both properties are rented on 25 year leases, with the price representing an initial 4.5% yield. The Travelodge opened in late 2017, while the [...]

    Reykjavik rush

    The Icelandic capital of Reykjavik will see 1,500 rooms added to its hotel stock over the next two years. The additional capacity is expected to match growing tourist demand, reports Iceland Monitor. Tourism numbers in Iceland have grown 6% this year, and are set for a further 3-5% increase in 2019. Bank analysts suggest there [...]

    UK target for Student Hotel

    Hybrid operator The Student Hotel is targeting key sites in the UK to build its international portfolio. The group is eyeing up towns with strong student and tourism markets, reports Property Week. The group colocates student accommodation with a broader hotel/hostel offer for allcomers. Currently, it has 4,400 rooms open in 12 mainland Europe locations.

    Blu for Moscow

    Radisson Hospitality has signed to open a Radisson Blu hotel in Moscow. The 150 room property will open in 2021. The Leninsky Prospect hotel will be a collaboration with Sherwood Premier LLC, and will run under a management contract. The addition takes Radisson’s greater Moscow presence to eight hotels and 2,260 rooms in operation or under development. [...]

    LVMH bids for Belmond

    Luxury group LVMH Moët Hennessy Louis Vuitton has agreed to buy Belmond. A USD25 per A share offer values the Belmond business at USD3.2bn. The board is recommending the offer to shareholders, as the best option following a strategic review. The deal gives LVMH the hotel business plus Belmond’s restaurant, train and river cruise assets. Read [...]

    Fattal eyes workspace

    Israeli group Fattal Hotels is testing a presence in the coworking marketplace. It has rented office floors in Tel Aviv to convert to shared flexible workspace, reports Haaretz. Fattal recently started offering short term apartments for rental, using Airbnb as a distribution platform. The company is looking to co-located workspace alongside its hotels, so workers [...]

    Taj addition

    Indian Hotels has signed a property in Lucknow to its Taj brand. The hotel will run in partnership with Luxus Hospitality, reports the Economic Times. The 185 room new build is scheduled for a 2022 opening. IHCL already operates the Taj Mahal and Ginger Gomti Nagar hotels in the city. Read the full story here: [...]