The latest global news on development, M&A, investment and more.
B&B, Meridia partner in Iberia. France-based B&B Hotels
has partnered with Meridia Capital, Barcelona, to develop a platform of budget
hotels with high ESG standards in Spain. With a planned investment of e200
million, Meridia will acquire land in the outskirts of major cities in Spain to
build 100 to 200 room hotels, which will be leased to B&B on a fixed
contract basis. Meridia will develop this strategy in collaboration with Lexxa
Hotels, which will assist in identifying opportunities, executing development
work, securing financing, and managing the exit. Through its fund Meridia IV,
Meridia has already made the initial investments for this program, acquiring
four plots of land: one in Vallecas (Madrid), two in Seville, and one in
Vilaseca (Tarragona). The four properties to be developed will have a total of
over 500 rooms and are expected to be operational from 2024. B&B closed
2022 with 52 hotels in Iberia, and its forecast is to reach over 60 in 2023.
Hilton adds resort in Croatia. Hilton has signed a franchise
agreement with Katarina Line d.o.o. to open Keight Hotel Opatija, Curio
Collection by Hilton in the seaside town of Opatija, Croatia. Expected to open
in 2024, the 54-room hotel will be operated by Zagreb City Hotels d.o.o., which
currently operates three Hilton branded hotels in Croatia.
SE Asia portfolio deal. Strategic Hospitality Holdings Ltd. has sold for US$106.1
million three hotel assets in Southeast Asia – the Pullman Jakarta Central
Park, ibis Saigon South and Capri by Fraser, both in Ho Chi Minh City. The
Pullman and ibis were sold with the benefit of Accor management, while The Capri
was sold with vacant possession. The deal brokered by JLL’s Hotels &
Hospitality Group marks the first hotel portfolio sale in the region for 2023.
Minor's new luxury svp. Minor Hotels has appointed Giles Selves as senior vice president
of Luxury Hotels for Europe. Selves is responsible for driving the strategic
and commercial direction of the luxury brands while enhancing guest
experiences, operational excellence, and supporting the growth and development
of Anantara Hotels, Resorts & Spas and Tivoli Hotels & Resorts across
Europe. He was previously at the helm of Anantara properties in Thailand, Sri
Lanka and the Maldives.
Marriott adds all-inclusive. Marriott International will
reposition the Marriott Cancun Resort in Mexico, which closed last March
to undergo an extensive renovation, to the Marriott Cancun, An
All-Inclusive Resort by early 2024. The All-Inclusive
by Marriott Bonvoy portfolio is comprised with 31 resorts. The Cancun
property will launch with redesigned rooms, suites, lobby, meeting spaces, and
public area, including new innovative restaurant concepts, expansive pools, and
a lazy river and waterpark.
IHG grows in Egypt. IHG Hotels & Resort has announced
the signing of an HMA Agreement with Akam Al Rajhi, a joint venture between
AkamAlRajhi and Al Rajhi Saudi groups, to open a voco-branded hotel on Egypt’s
North Coast. Set to open in December 2026, the 300-key voco North Coast will
include low-rise buildings, chalets and townhouses in a prime location,
directly on the beachfront. As part of the DOSE Village North Coast secure
gated community, the resort will be located on the front row of the
development, offering 360 degrees of uninterrupted beach views. IHG currently
operates seven hotels in Egypt across brands with 15 hotels in the development
pipeline.