New research from MKG Group has revealed the shifting tectonic plates of the global accommodation sector, with some major moves in the top ten ranked hotel groups worldwide. Among the most interesting has been the rise of Chinese group Home Inns, which literally doubled its capacity thanks to the takeover of Chinese competitor Motel 168. Here Breaking Travel News takes a look at the biggest fish in global market.
The Royal Bank of Scotland is putting six of its hotels up for sale as the banking group aims to sell all its non-core businesses.
According to the Knowland Group, a leading provider of business development solutions for the hospitality industry, hotels capitalizing on Twilight mania are increasing sales. Local Pacific Northwest hotels are using popular scenes with romantic vampire Edward Cullen and shirtless Quileute wolf Jacob Black to attract fans. The properties offer exclusive events and getaways so fans can live the ultimate Twilight experience.
Hoteliers across the UK experienced a mostly solid month of recovery in May with occupancy, room rate and rooms yield largely positive, according to PKF Hotel Consultancy Services.
National Commercial Auctioneers [www.natcomauctions.com] announces an absolute auction scheduled for the Holiday Inn in downtown Sheffield, Ala., on April 21, according to Stephen Karbelk, CAI, AARE, President of National Commercial Auctioneers.
National Commercial Auctioneers, LLC, [www.natcomauctions.com] announces the sale of more hotels at auction over the next two months than any other auctioneer in the country, according to Stephen Karbelk, CAI, AARE, President of National Commercial Auctioneers.
The Becnel Family today announced the acquisition and purchase of Sandestin Golf and Beach Resort, the leading resort on Florida’s Emerald Gulf Coast. Terms of the agreement were not disclosed.
Laurus Corporation (“Laurus”) is pleased to announce that it has successfully completed the acquisition of the Le Meridien Cancun Resort.
MGM MIRAGE (NYSE: MGM) today announced that it has entered into a settlement agreement with the New Jersey Division of Gaming Enforcement (DGE) under which it will sell its 50% ownership interest in the Borgata Hotel Casino & Spa and related leased land in Atlantic City.
Hotel Brokers International Westgor & Associates, Inc., charter member of Hotel Brokers International, announces the sale of the 60 unit Americas Best Value Inn located in Stevens Point, Wisconsin, to Shree Laxmi Naryam. Jeff Westgor, CHB, President of Westgor & Associates Inc., represented the seller – US Assets. Financing was an SBA 7A loan.
Developer Ceebraid-Signal Corporation today announced it has completed the sale of its Eden condominium development in downtown Boca Raton, Fla., to Urdang Capital Management and Priderock Capital Partners, which plans to convert the project into luxury apartment rentals.
The battle to buy London’s Grosvenor House hotel is hotting up with news that the Candy brothers, property developers to the super-rich and famous, have entered the arena with backing from an Asian financial house. The brothers are also eyeing up a serviced apartment block next door, which they would combine with the hotel to create a giant luxury residential scheme.