Bangkok, Thailand, October 15, 2018 – Best Western Hotels & Resorts has signed a landmark agreement to introduce its prestigious BW Premier Collection® by Best Western soft brand to Phuket.
“We are excited to debut The Title V Rawai Phuket, BW Premier Collection by Best Western on Phuket’s up-and-coming central coast in 2020,” said Ron Pohl Senior Vice President and Chief Operations Officer for Best Western Hotels & Resorts. “This hotel will introduce guests to a new era of upscale hospitality at Rawai Beach and provide travelers with the unique charm and excellent service Best Western-branded hotels are known for.” Continue reading “Best Western Hotels & Resorts Signs a Landmark Agreement to Introduce the Prestigious BW Premier Collection in Phuket”
Brussels/Dubai, October 15, 2018 – Radisson Hospitality AB, publicly listed on Nasdaq Stockholm, Sweden and part of Radisson Hotel Group, is proud to announce the signing of two hotels in the Kingdom of Saudi Arabia: the Radisson Blu Hotel, Riyadh Al Qurtuba and the Radisson Hotel, Qurayat. The signings take the group’s portfolio in Saudi Arabia to 41 hotels and more than 10,000 rooms in operation and under development. Both hotels are scheduled to open in 2020. Continue reading “Radisson Hotel Group strengthens its presence in Saudi Arabia with two new hotel signings”
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)”
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”
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”