Latest news: Aermont bids for Village Hotels; China pipeline surging; IHG adding in Vietnam

Aermont Capital makes bid for Village Hotels. London-based Aermont Capital is among the suitors attempting to buy Village Hotels from Denver-based KSL Capital Partners, according to a report in Sky News. According to the report, KSL sought offers “in the region of £850m or more” for one of Britain’s biggest mid-market hotel chains. The report also said several other companies sent bids before last week’s deadline and that Blackstone was considering a bid but had yet to make one. Village Hotels has a portfolio of more than 30 properties in the U.K. KSL was reported to have paid £485m for the company in 2014 from De Vere Group.

China pipeline surging. The construction pipeline in China continues to expand, according to Lodging Econometrics. Through the first quarters, the country has 3,775 projects and 695,212 rooms in its pipeline, with projects up 3% year-over-year and rooms up 2%. China has 2,691 projects and a record-high 488,560 rooms under construction; 377 projects and 65,193 rooms scheduled to start construction in the next 12 months; and 707 projects and 141,459 rooms in the early planning stage (up 18% YOY by projects and 11% by room). Construction starts in China rose 13% by projects YOY and 11% by rooms, standing at 247 projects and 42,357 rooms. The upper midscale and upscale chain scales had record highs, accounting for 57% of projects and 58% of rooms. Luxury projects also hit an all-time high with 229 projects and 50,317 rooms. Chengdu was China’s top market, with 147 projects and 29,595 rooms, while Shanghai was second, with 131 projects and 25,258 rooms.

IHG adding in Vietnam. IHG Hotels & Resorts is debuting two of its brands in Vietnam this year with the Hotel Indigo Saigon The City in Ho Chi Minh City and a Vignette Collection hotel in Hoi An, both set to open later this year. IHG has 18 open hotels in Vietnam and with 26 more in the pipeline it is on course to more than double its portfolio by 2028.

Hyatt adds first in Zimbabwe. Hyatt is opening its first hotel in Zimbabwe with the 312-key Hyatt Regency Harare The Meikles. The newly branded originally opened in 1915.

Meridia adds in Spain. Barcelona-based Meridia Capital has acquired the 270-key Hotel Presidente in Ibiza, Spain, from New York-based Oak Hill Advisors (OHA), according to HVS. The asset was reportedly valued at approximately €30 million (€111,000 per room). OHA was planning to refurbish the asset for €20 million, but it was never carried out.  

German JV sells in Stuttgart. A JV between Germany-based Geiger Unternehmensgruppe and micro-living specialist i Live group has sold the 157-key Rioca Stuttgart Posto 6 aparthotel in Stuttgart, Germany, to an undisclosed family office, according to HVS. The new hotel was finalized in 2024 after a two-year development period. Rioca is the business and leisure aparthotel brand of the i Live group, including residential apartments. The brand currently has six properties across Germany and Austria, with properties in the pipeline.

Uno acquires in England. British owner-operator Uno Hotels has acquired the 52-key The Hickstead hotel in Bolney, and the 40-key Grovefield House Hotel in Burnham in England, according to HVS. Before this acquisition, Uno's portfolio had three properties. 

Frasers sells in Singapore. Singapore-based Frasers Property is selling the 72-key Fraser Residence River Promenade, a serviced apartment complex along the Singapore River, along with three warehouses adjacent to the property, to Singapore-based developer Tuan Sing Holdings Limited for S$140 million, according to HVS. This marks TSHL's first hospitality asset in Singapore. The company owns two hotels in Australia. 

Hong Kong property sells. The Tang Shing Bor family has recently sold Hotel Ease Access Lai Chi Kok in Hong Kong for HKD220 million, according to HVS. The 119-key property was converted into a hotel in 2022 from the former Focus Commercial Building.

Egypt adding 24,000 hotel rooms. Egypt plans to add 24,000 hotel rooms over the next year, according to Asharq Business. Egypt’s Vice Minister of Tourism and Antiquities said the country is also eyeing the expansion of 13 tourist airports across the country. Tourist arrivals have increased 27% year-over-year over the first four months of 2024, and Egypt’s tourism revenues rose 8% YOY in 2023 to $13.2 billion with a record 14.9 million tourists.