Investment
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Westin Sydney sold for $445.3 million   26 May, 2015

A joint venture between Singaporean developer Far East Land and the Hong Kong-listed Sino Land Co. purchased the 416-room property, which includes a significant amount of retail space. Seller GIC purchased the hotel for $160 million in 2002.More>>

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Holiday Inn Express opens first property in South Korea   26 May, 2015

The 224-room Holiday Inn Express Seoul Euljiro is located in a commercial and financial precinct between the Myeong-dong, Namsan and Dongdaemoon areas, which are known for their variety of shopping options and sites of cultural and artistic significance. More>>

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Ulster Bank to sell Irish hotels portfolio   26 May, 2015

Ulster Bank has agreed to the sale of its Project Coney portfolio to Sankaty Advisers, a U.S.-based affiliate of investment group Bain Capital. The portfolio comprises loans relating to 36 hotels and other commercial assets. It is not clear how much Sankaty paid, reports The Irish Times, but the...More>>

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Vancouver group acquires Fairmont Vancouver for $180M   26 May, 2015

Vancouver’s Fairmont Hotel has been acquired by West Vancouver-based Larco Enterprises for $180 million. The transaction of the 1939-built hotel pushes Larco’s hotel portfolio to 13 hotels, including eight in Ontario, four in Metro Vancouver and one in Las Vegas.More>>

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Starboard buys five ibis hotels from Accor   26 May, 2015

Hotel developer and operator Starboard Hotels has purchased five ibis hotels in the UK from HotelInvest parent company Accor, as part of a roughly $35-million portfolio sale of seven properties. The five hotels, in Gatwick, Plymouth, Birmingham Bordesley Circus, Sheffield and Leicester, total 469...More>>

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Asia capital changing the face of hotel landscape here and abroad   26 May, 2015

Capital inflows from Asia-based groups, particularly toward the purchase of luxury hotel assets, is altering the face of ownership in the U.S. and cities such as Sydney—and there is no sign of any let up. And while it has started with luxury, the midscale segment is next in their sights. More>>

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My Place Hotels opens flagship in Aberdeen, South Dakota   22 May, 2015

The new flagship hotel will soon host the brand's training headquarters on the first floor. Upon completion of development, My Place University will be unveiled and offered a resource for My Place Hotel owners and operators from across the nation. More>>

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​Banyan Investment Group, Investra Investments purchase Albany Hampton   22 May, 2015

The property will undergo a multi-million dollar renovation during the next few months that are reportedly expected to meet or exceed the architectural and design standards specified by Hilton Worldwide. More>>

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TRYP by Wyndham to enter the Philippines   22 May, 2015

Under the terms of the agreement with franchisee Microtel Inns & Suites (Pilipinas) Inc., at least eight TRYP by Wyndham hotels will be developed in the country over 10 years, with the first property expected to open at the Mall of Asia in Pasay City in 2016. More>>

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Kansas City approves financing for Hyatt convention hotel   22 May, 2015

The vote came one day after a council committee endorsed the outlines of the city's financial partnership with private investors.​ The full council vote keeps the proposal on the fast-track. It is next scheduled to be reviewed by the city's Tax Increment Finance Commission on June 30.More>>




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