Starwood eyeing James? According to The Real Deal, CIM Group is close to a deal to sell the 286-room James hotel in Los Angeles to Barry Sternlicht’s Starwood Capital for nearly US$280 million. The hotel is not yet open.
Crowngate at Al Marjan: U.K.-based developer Crowngate International acquired a plot on the man-made Al Marjan Island in the United Arab Emirates. The property, valued at 220 million dirham (US$59.9 million), is scheduled to open in late 2019.
Read the story in The National
Development in Oman: Oman’s Ministry of Tourism signed an agreement for the Al Nakheel ITC development in Barka. The OMR256 million (US$662.9 million) mixed-use development includes three hotels, hotel apartments, residential units and a mall.
Read more in the Times of Oman
Jannah in Sharjah: Jannah Hotels & Resorts is developing the Jannah Ras Al Khor in the United Arab Emirates city of Sharjah. The development, which is the Abu Dhabi-based company’s debut in the city, includes a 57-story tower will include a mall, offices, luxury hotel and residences. An opening date was not given.
Six for Emaar: Emaar Hospitality Group unveiled six new hotel projects in Dubai, Abu Dhabi and Egypt, under the Address and Vida brands.
Dorsett in Shepherd’s Bush: Dorsett Hospitality International got planning permission to redevelop the 1910-era Shepherd’s Bush Palladium in London into 74 serviced apartments and commercial space. Completion is planned for 2019.
Cambridgeshire hotel sold: The Cambridge Belfry at Cambourne in the UK was sold for £18.5 million (US$23.7 million). It was built in 2004 and recently refurbished. It was let to Marstons Hotels as part of the QHotels brand and sold to LXi REIT Advisors.