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CapitaLand sells from
3 hotels in Japan. Singapore-based
CapitaLand Ascott Trust is sell three properties in Japan to a third party for JPY 10.7 billion ($99.8 million). The three
properties are Hotel WBF Honmachi, Hotel WBF Kitasemba East and Hotel WBF
Kitasemba West. The buyer was not disclosed. CapitaLand said the three
properties would be divested at about 15% above book value, and net proceeds
would be around JPY 3.9 billion ($36.4 million). The sale is expected to be
completed in the first quarter of next year.
Trinity sells parcels next to Diplomat. A joint venture led by Honolulu-based Trinity Investments sold two development parcels in Hollywood, Florida, across from the 1,000-key The Diplomat Beach Resort to Miami-based Related Group and Aventura, Florida-based BH Group. The parcels are located within the Diplomat Landings site, on eight acres across the intracoastal waterway.
CEO, COO changes for
Hongkong and Shanghai Hotels. The Hongkong and Shanghai Hotels Managing Director
and CEO Clement Kwok will retire on October 31, 2024, and COO Peter Borer will
step down at the end of July 2024 after 42 years with the luxury hotel company that owns and operates the Peninsula Hotels brand. The company will begin a formal
search for a CEO while Gareth Roberts will be promoted to succeed Borer. Kwok will remain on the company’s board as an executive director and
advisor to the CEO until the conclusion of the 2025 annual board meeting. Borer
will be redesignated as a non-executive director on the board and senior advisor
to the chairman for a two-year term starting in August 2024.
Marriott adds in
China. Marriott International signed an agreement with Zhejiang Wanhao
Wanjia Group to develop two properties in Qiandao Lake in eastern China’s
Zhejiang Province. The St. Regis Qiandao Lake will have 80 rooms and 36 villas and
will be located at the top of Tianyu Mountain, while the AC Hotel by Marriott
Qiandao Lake will have 185 rooms and sit on a greenway over the lake. Both
hotels are scheduled to open in December 2026.
Hilton’s first Tru in
Argentina. Hilton has signed its first Tru-branded hotel in Argentina with the Tru
by Hilton Bariloche. The 130-key property will be in Patagonia and open in
2027. This is the 10th country launched for the Tru brand, which also plans to
debut in the next two years in Chile, Colombia, Costa Rica, Dominican Republic
and Puerto Rico.
Accor bringing Mercure to Singapore. Accor has partnered with Worldwide Hotels Group to bring the world’s largest Mercure Hotel to Singapore. The 989-key Mercure is scheduled to open in the first quarter of 2024. Singapore-based Worldwide Hotels Group is the city’s largest hotel operator.
IHG adding in India. IHG Hotels & Resorts signed a
management agreement with India-based XECO Media for a new Holiday Inn Resort
in Karjat, Maharashtra in India. The 150-key property is scheduled to open in
2027 and will be in the resort town of Karjat, which is equidistant from Mumbai
and Pune. IHG has 45 hotels across five brands in India and has 45 more in the
pipeline that are scheduled to open in the next three to five years.
Choice opens 100th
Suburban Studios. Choice Hotels has opened its 100th Suburban Studio
with its 104-key hotel in Bloomington, Minnesota. Since the relaunch of
the Suburban Studios in 2022, the brands’ hotels have opened quickly, including
five in October and eight in November.
Dutco acquires
historic Scottish hotel. Dubai-based
Dutco Group, in collaboration with Align Partners, has acquired the Mar Hall
Hotel, Golf and Spa Resort in Scotland for £15 million. The deal marks the
first change of ownership in almost two decades for the historic property,
which dates back to 1826. Located in Bishopton near Glasgow, the resort sits on
a 240-acre Earl of Mar Estate with an 18-hole golf course and spa. Renovations
will start in early 2024.
Accor Pacific CEO
Derry leaving. Sarah
Derry is leaving her position as CEO of Accor Pacific at the end of February,
according to several reports. Paris-based Accor said its leadership structure
in the Pacific will include Duncan O’Rourke, CEO of Accor for MEA APAC for premium,
midscale and economy division, who will lead the region. Underneath O’Rourke
will be Paul Stevens, COO – Middle East, Africa and Turkey; Garth Simmons, COO
– Asia; and Adrian Williams, COO – Pacific for premium, midscale and economy division.
Williams’ position is a newly created role effective January 15.
Holiday Inn Express
China milestone in China. IHG
says it has the surpassed the milestone of over 500 Holiday Inn Express hotels in
operation or in its pipeline in Greater China. Globally, the brand has 3,131 hotels in operation and 643 in the pipeline through the third quarter. Of the
current pipeline, 209 of them are in China.
Hyatt grows in
Switzerland. Hyatt Hotels Corp. is opening the 51-key Hotel Flüela Davos in Switzerland, its
fourth hotel in the country. The hotel opened in 1868, has over 5,000 sq. ft.
of meeting space and is located near the Davos Conference Centre, home of the
World Economic Forum.
New boutique in
Windsor. The 99-year-old Paul
Martin Building in Windsor, Ontario, will become a new luxury boutique hotel.
Chatham, Ontario-based RJM Holdings will develop the property into a hotel with
as many as 100 suites.
BWH adds Payne to board. BWH Hotels has elected Phil Payne as a
board chair for 2024. Payne previously served as vice chair and brings 40 years
of Best Western ownership to the role.