Issue 2210 - 17 May, 2019

    CDL moves on China

    Singaporean hotel investor CDL has bought 24% stake in Chinese developer Sincere Property Group. It will also acquire the majority of Sincere’s mixed use project in Shanghai. Sincere’s portfolio includes five hotels, two serviced residences and 14 malls. CDL, owner of Millennium & Copthorne, says the deal gives it access to assets and sites in [...]

    Pressure on Cook increases

    Shares in Thomas Cook tumbled after the group issued its third profit warning in less than a year. European holiday discounting is putting further pressure on margins, it warned. The group has agreed a further GBP300m loan, but that is contingent on it making progress with a planned sale of its airline division. Lufthansa and [...]

    Voco for Sydney

    IHG has signed to launch its Voco brand in Sydney, Australia. Developer Linzhu Australia Pty will complete the 301 room hotel in 2020 as part of a larger mixed use development. IHG originally committed to brand the site as a Holiday Inn, but says the Sydney CBD marketplace now demands a different offering. The project [...]

    Choice links with AMResorts

    Choice Hotels has signed a strategic partnership with AMResorts. The move will enable Choice loyalty programme members to book at 50 resorts in Mexico, the Caribbean and Central America. Choice’s 40 million members will be able to redeem and earn points at the AMR properties. AMR will gain further exposure with property listings on Choice’s reservation and distribution [...]