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JI QI Huazhu

China’s Huazhu Group Reports 19% Growth in Hotel Turnover in Q3

2019/11/18 by Jan Kot Leave a Comment

Huazhu Group has revealed a 19 percent year-on-year jump in hotel turnover for the third quarter of 2019, as China’s largest operator of budget inns boosted its portfolio to more than 5,000 locations.

Turnover increased to RMB 10 billion ($1.4… Read More>>

ARA US Hospitality Trust Buys Trio of Texas, North Carolina Hotels for $84.5M

2019/11/07 by James Hatton Leave a Comment

ARA US Hospitality Trust has agreed to acquire a 390-key trio of select-service hotels in the US for $84.5 million, just six months after the trust raised $498 million in its debut on the Singapore stock exchange.

The trust has… Read More>>

ji qi huazhu

China’s Huazhu Hotels Buys German Hospitality Group for $802M

2019/11/06 by Jan Kot Leave a Comment

In a sign of how life may be changing for global plutocrats, the next World Economic Forum in Davos may be held at a Chinese budget hotel. Or at least at a property owned and managed by China’s Huazhu Hotels… Read More>>

Stephen Lau

China Cinda Revealed as Buyer in HK$4.3B Deal for Kimberley Hotel in Hong Kong

2019/10/17 by James Hatton Leave a Comment

State-owned “bad bank” China Cinda Asset Management has been revealed as the buyer of a hotel in Hong Kong’s Tsim Sha Tsui area, spending HK$4.3 billion ($550 million) on the asset despite a 70 percent slump in hotel investment during… Read More>>

GIC CEO Lim Chow Kiat

Singapore’s GIC, NYSE-Listed Summit Hotels Acquire Four US Hospitality Assets for $249M

2019/10/10 by Jan Kot Leave a Comment

Singapore’s sovereign wealth fund GIC has agreed to acquire four hotels along the west coast of the US for $249 million through a recently formed joint venture with Summit Hotel Properties, according to an announcement by the New York Stock… Read More>>

Hoi Hup, Wong Swee Chun

Temasek JV Selling Andaz Singapore Hotel for Record S$475M

2019/10/09 by James Hatton Leave a Comment

Singapore-based Hoi Hup Realty has entered into a binding agreement to buy the Andaz Singapore hotel, according to a statement posted today on the developer’s website, in what ranks as the largest ever purchase of a single hotel asset in… Read More>>

ritesh agarwal oyo

Softbank-backed Oyo Hotels Raising $1.5B to Expand into US, Europe

2019/10/07 by Michael Cole Leave a Comment

Indian hospitality group Oyo Hotels and Homes today announced that it is raising $1.5 billion to continue its expansion into the US, Europe and other global markets.

25-year-old Oyo founder Ritesh Agarwal is leading the financing round with support from… Read More>>

Stephen Lau

Kimberley Hotel in Hong Kong’s Tsim Sha Tsui Said to Receive HK$4.8B Offer

2019/10/03 by Jan Kot 2 Comments

A four-star hotel in Hong Kong’s Tsim Sha Tsui district, which fell into receivership after its owner was tortured to death on the mainland has received an offer from an interested buyer, according to a report in the Hong Kong… Read More>>

Park Hyeon-joo Mirae

Korea’s Mirae Said Buying US Hotel Portfolio From Anbang for $5.8B

2019/09/11 by Michael Cole Leave a Comment

Korea’s Mirae Asset Management has agreed to buy a portfolio of US luxury hotels from China’s Anbang Insurance for $5.8 billion, according to a report by the Wall Street Journal earlier today.

The deal comes more than one year after… Read More>>

Hilton Sells Japan Resort to Mori JV for $119M

2019/09/08 by James Hatton Leave a Comment

Hilton Worldwide has sold the Hilton Odawara Resort and Spa in Japan to a joint venture between Mori Trust and Mori Trust Hotel REIT for $119 million, according to data supplied by Real Capital Analytics.

The REIT and the Tokyo-based… Read More>>

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