Pandox Acquires The Midland Manchester in the UK for for £115 Million ($151.3 Million)

Oct. 15, 2018 – Pandox AB (publ) (“Pandox”) has entered into an agreement to acquire The Midland Manchester, which is an iconic upper premium hotel with 312 rooms in the heart of Manchester in the UK. The transaction is made with Fattal Hotels Group (“Fattal”) as operating partner, whereby Pandox, following a legal reorganisation, will retain the property and the hotel operations will be transferred to Fattal. The total transaction value amounts to approximately MGBP 115, whereof the value of the hotel property amounts to MGBP 102, corresponding to approximately MSEK 1,210. The acquisition is expected to be financed by a new bank loan and existing credit facilities. The hotel will be operated by Fattal under a revenue-based lease agreement. The acquisition is expected to be closed during the fourth quarter 2018 and the hotel will be reported under the business segment Property Management. For 2018 the hotel is expected to contribute the equivalent of approximately MSEK 69 in rental income and MSEK 66 in net operating income, on an annualised basis. Continue reading “Pandox Acquires The Midland Manchester in the UK for for £115 Million ($151.3 Million)”

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Woodbine Legacy Investments Acquires 375-Room Doubletree by Hilton Los Angeles – Westside for $151.5 Million

DALLAS, Oct. 15, 2018 – Woodbine Legacy Investments (WLI) purchased the 375-room DoubleTree by Hilton Hotel Los Angeles – Westside and an adjacent entitled 2.2-acre development parcel from The Carlyle Group for $151.5 million. The broker for the transaction was Eastdil Secured. The purchase of the DoubleTree LA – Westside marks the third acquisition for WLI, a private real estate fund created and managed by Woodbine Development Corporation.

Woodbine’s plans for the Culver City hotel include a $35 million renovation, which is set to begin in early 2019. The company’s plans also include developing the adjacent 2.2-acre parcel, Entrada, which is entitled to 300,000 square feet of office development. That project is anticipated to kick off in late 2019. Continue reading “Woodbine Legacy Investments Acquires 375-Room Doubletree by Hilton Los Angeles – Westside for $151.5 Million”

Marriott Maracay Golf Resort Enhances Security With Adoption of ASSA ABLOY Hospitality Technology

Stockholm – September 12, 2018 – Marriott Maracay Golf Resort, a luxury property situated in central Venezuela, has partnered with ASSA ABLOY Hospitality to implement the latest industry standards in security access technology. With the installation now complete, property guests and staff can benefit from advanced security functionality with VingCard Signature RFID door locks, Elsafe Zenith electronic safes and the Visionline access management solution.

With the addition of VingCard Signature RFID locks, Marriott Maracay Golf Resort can leverage innovative anti-cloning encryption technology to prevent any possibility of unauthorized keycard cloning. Designed using a minimalistic approach and with the ability for hotels to select from a wide range of door handle styles, Signature RFID also works to preserve and enhance a property’s visual aesthetic. For properties seeking to keep options open when considering future enhancements to guest convenience, Signature RFID is fully compatible with ASSA ABLOY Hospitality Mobile Access, allowing hoteliers to upgrade to digital key functionality with minimal additions to existing hardware. Continue reading “Marriott Maracay Golf Resort Enhances Security With Adoption of ASSA ABLOY Hospitality Technology”

Phonesuite Acquires Asteria Solutions Group and Adds Full Service ACD (Automated Call Distribution) to Its Voiceware Platform

BROOMFIELD, Colorado – September 12, 2018 – Phonesuite, (www.phonesuite.com) a leading provider of hotel voice technology solutions, announced that it has further expanded its Voiceware platform to meet the needs of today’s hotel customers through its acquisition of Asteria Solutions Group, a provider of voice communication and call center solutions to leading companies including Trip Advisor. The acquisition will enable Phonesuite to offer hotels single guest-facing call center functionality through its existing platform with highly trained agents equipped to handle a myriad of guest requests from a central source. By offering full-service ACD (Automated Call Distribution), hotels can streamline their call center operations and significantly decrease costs while enhancing the level of service they provide to their guests. Continue reading “Phonesuite Acquires Asteria Solutions Group and Adds Full Service ACD (Automated Call Distribution) to Its Voiceware Platform”

BENCHMARK® Announces the Top Ten Dining Trends for 2019

The Woodlands (Houston), Texas, September 2018… BENCHMARK®, a global hospitality company, with three distinctive brand portfolios, including Benchmark Resorts & Hotels, Gemstone Collection, and the London-based etc.venues, has just released its Top Ten Dining Trends for 2019. The trends were observed by Benchmark’s executive chefs and culinary experts at the company’s 80 luxury hotels, resorts and restaurants coast to coast, offshore and in Europe.

“Food and Beverage is an ever-evolving realm of experiences,” says Patrick Berwald, Benchmark’s vice president food and beverage. “The opportunity for us is not only to be ahead of the trend but to understand who tomorrow’s customer will be, what fulfills their needs and how our properties can be ready to meet that demand.” Continue reading “BENCHMARK® Announces the Top Ten Dining Trends for 2019”