HA Daily

    Call for Reit merger

    An activist investor is calling for two Singaporean hotel Reits to merge. They argue Ascendas Hospitality Trust and Ascendas Hospitality Trust would work better as one unit, reports Bloomberg. The call for action has come from Quarz Capital Management. The investor notes that, since CapitaLand already controls the managers of both Reits, there are corporate governance [...]

    Taj for Ahmedabad

    Indian Hotels has signed to open a Taj branded hotel in Ahmedabad. The 315 room property will open in early 2020. Development partner Sankalp will construct the property on Sindhubhavan Marg. The hotel will be the fourteenth IHCL branded hotel in the state of Gujarat. Read the full story here: https://www.theindianhotels.com/press-room/ihcl-expands-its-presence-in-gujarat-announces-a-new-taj-hotel-in-ahmedabad/

    Days for sale

    The Days Hotel in London’s Waterloo is being sold by receivers. Agent Christie & Co is marketing the freehold, 162 room property. The hotel currently operates under a franchise agreement, as a Days Hotel. The property has considerable repositioning and redevelopment potential.

    Selina wins funding

    Accommodation and coworking brand Selina has raised a further USD100m of growth funding. The company is targeting 130,000 beds and over 400 properties by 2023. To date, Selina has operates 46 locations in 13 countries, with over 22,000 beds open or in development. This year, it will add properties in the USA, UK, Germany, Portugal, [...]

    Swissotel for Bucharest

    Accor has signed to launch its Swissotel brand in Romania. A 225 room, 18 storey hotel is scheduled to open in central Bucharest in 2021. Niro Investment Group will develop what will be the city’s tallest building. The property will run under a management contract.

    Leela sale challenge

    India’s Securities and Exchange Board has halted Leelaventure’s sale of assets to Brookfield. The move comes after minority shareholder ITC argued the deal was unreasonable, reports Business Today. ITC went before the National Company Law Tribunal, alleging “oppression and mismanagement” by Leela. Brookfield and Leela have been told to await further directions. Read the full [...]

    Four Seasons takes off

    Hotel group Four Seasons has added a new luxury private jet to its portfolio. The 48 seat Airbus will take to the skies in 2021. The aircraft will build on the company’s experience with its current private jet programme, which launched in 2015. The company says it will be able to offer extraordinary adventures and [...]

    Hyatt Singapore listing

    Investor ARA group is planning to hive off 38 Hyatt hotels into a Singapore-listed business trust. The vehicle will hold USD719.5m of properties across the USA, reports the Business Times. The move will create Singapore’s first hospitality trust focused on US investments. ARA aims to issue stapled securities covering the property assets, and a linked [...]

    Marriott’s tallest prefab

    Marriott is set to open the world’s tallest modular construction hotel, in New York. The 26 storey AC Hotel New York NoMad is scheduled to open in late 2020. The  hotel’s 126 rooms are being constructed offsite and are craned into place. Marriott is encouraging developers and investors to adopt modern methods of construction, to [...]

    Thomas Cook in play

    Buyers are said to be circling travel group Thomas Cook, sending shares up 15%. Private equity buyers KKR and EQT Partners, and Chinese investor Fosun are all potential bidders, reports Reuters. Thomas Cook has already said its airline business is potentially for sale, and has closed retail stores. It continues to seek ways to grow [...]