Latest news: Dalata rejects bid; Sojourn acquires Salt Coast; Nashville property sale

Dalata rejects takeover bid. Dublin-based Dalata Hotel Group has rejected a takeover proposal by Stockholm-based Pandox AB and Oslo-based Eiendomsspar AS. A statement issued by Dalata said the consortium’s offer of €6.05 per share, at a reported total of €1.3 billion, “materially undervalues the group and its prospects” and was unanimously rejected. Dalata announced a strategic review to explore its future and potential sale in March but said the Pandox consortium had declined to enter the formal sales process on the terms set out by the hotel group last month. The company confirmed it continues to engage in “constructive discussions with a number of parties” participating in the formal sales process and have submitted their proposals to acquire the group.

Sojourn acquires Salt Coast Hotels. Washington, D.C.-based Sojourn, LLC, a hospitality brand for flexible furnished rentals, has acquired Salt Coast Hosts, a family-run vacation rental company in North Carolina’s Outer Banks. With this acquisition, Sojourn will partner with the Anies family through a newly created entity, Sojourn Realty OBX, to expand into North Carolina.

Nashville hotel sells. Charlotte-based Tara Investments has sold the 111-key Hampton Inn & Suites Nashville-Airport to Savannah, Georgia-based Image Hotels for an undisclosed amount. Hunter Hotel Advisors facilitated the transaction. The sale of the hotel allows Tara Investments to focus on new developments in both Nashville and Charleston, South Carolina. 

Refi for Tampa hotel. New York City-based Newbond Holdings has secured a refinance for the 130-key Aloft Tampa Downtown hotel. JLL worked on behalf of the borrower to secure a five-year, floating-rate loan provided by funds managed by affiliates of Fortress Investment Group.

CDL sells share of Singapore property. Singapore-based City Developments Limited (CDL) and Malaysia-based IOI Properties Group Berhad (IOIPG) have entered into a share sale agreement for their joint venture (JV) South Beach mixed-use integrated development in Singapore. Under this agreement, IOIPG will acquire CDL’s 50.1% interest in the development, based on an agreed property value of S$2.75 billion on a 100% interest basis, which represents an approximately 3% premium over the latest valuation of S$2.67 billion. The transaction will be executed via a share sale in the holding company Scottsdale Properties Pte. Ltd. Based on CDL’s proportionate 50.1% share of its consolidated net assets as of 30 April 2025, the estimated sale consideration is S$834.2 million. CDL and IOIPG have been long-term JV partners in South Beach since 2011, having co-developed the 3.5-hectare site into one of Singapore’s most recognizable architectural landmarks. Upon completion of the transaction expected by Q3 2025, IOIPG will gain full ownership of South Beach’s commercial components. The strata-titled residential component, South Beach Residences, has been fully sold since September 2021.

NCG Hospitality adds in Arizona. In August, Middleton, Wisconsin-based NCG Hospitality is opening the dual-branded Home2 Suites by Hilton Flagstaff and Tru by Hilton Flagstaff in Arizona. The new property will offer a combined 204 rooms — 113 extended-stay rooms at Home2 Suites by Hilton and 91 rooms at Tru by Hilton.

Ritz-Carlton Reserve debuts. Phoenix-based The Athens Group is partnering with Mohari Hospitality and Gencom to open the Nekajui, a Ritz-Carlton Reserve, in Peninsula Papagayo, Costa Rica, the first Ritz-Carlton Reserve in Central and South America. Nekajui is the eighth property in the Reserve portfolio and includes 107 guest rooms and 36 two-to-five-bedroom private residences.

IHG adds voco in London. IHG Hotels & Resorts is partnering with Palm Holdings to sign a dual-branded hotel complex in Central London: voco hotel London – Waterloo and Hotel Indigo & Suites London – Waterloo. The 182-room voco London – Waterloo and the 172-key Hotel Indigo & Suites London – Waterloo are scheduled to open in the last quarter of 2028.

Ennismore debuting in Egypt. Ennismore is partnering with Dubai-based Majid Al Futtaim, a shopping mall, communities, retail, and leisure pioneer across the Middle East, Africa, and Asia, for Egypt’s first 25hours Hotel in West Cairo. The hotel will feature approximately 250 keys of hotel rooms and 25hours Heimat branded residences.

IHG adding in Vietnam. IHG Hotels & Resorts has accelerated its growth in Vietnam by signing a management agreement with Nha Trang Bay JSC, a member of the GreenSpark Group. The 250-key voco Scenia Bay Nha Trang – by IHG will sit in the coastal city of Nha Trang when it opens near the end of this year.  IHG has 20 hotels in Vietnam across eight brands and 22 properties in its pipeline.

Victoria sells 2 in Spain. Madrid-based Victoria Hotels & Resorts, the alternative investment vehicle promoted by Bankinter Investment, GMA, and Meliá Hotels International, has completed the divestment of two of its flagship assets in Spain: the 102-key Hotel Innside Zaragoza, acquired by a private investor, and the 262-key Hotel Innside Palma Bosque, purchased by the joint venture created between Meliá and an institutional investor. The two sales equaled a combined amount of €74 million.

2025 Rising Star Award Asia Pacific. The International Society of Hospitality Consultants (ISHC), in partnership with the Hotel Investment Conference Asia Pacific (HICAP), is now accepting nominations for the Rising Star Award Asia Pacific to be presented at the 35th edition of HICAP on October 22-24, 2025, at the Fairmont Singapore & Swissotel The Stamford in Singapore. Candidates must be 35 years of age or younger, have a minimum of five years in a hotel development and/or investment-related field with a minimum of one year with the current company, recognized by leaders in the hospitality field as a rising star and currently living and working in the Asia Pacific or South Asia region with a minimum of two years experience in the market.