The LaSalle saga. LaSalle Hotel Properties’ third-biggest shareholder, HG Vora Capital Management, said on Tuesday that Pebblebrook Hotel Trust’s revised offer for the U.S. hotel owner was superior to Blackstone’s US$3.7 billion bid, according to a Reuters report. The hedge fund owns a 9.1% stake in the LaSalle.
Reuters update on LaSalle deal
Outrigger sells 6. Thai property developer and investor Singha Estate Public Co. Ltd. has acquired for US$310 million six properties in four countries from the Honolulu-based Outrigger Hotels and Resorts as part of its strategy to expand into high-yield tourist destinations around the globe and generate revenue of THB 20 billion by 2020. Outrigger will continue to manage the six beachfront resorts with 859 keys in Thailand, Fiji, Mauritius and the Republic of Maldives. The deal will raise Singha Estate’s S Hotels & Resorts portfolio to 4,644 room keys by the end of 2018, with 10 properties in global tourist destinations and 29 properties across the United Kingdom.
New campaign for Waldorf. Hilton luxury brand Waldorf Astoria Hotels & Resorts has announced the debut of the ‘Live Unforgettable’ campaign – a repositioning of the brand to highlight Waldorf Astoria’s experience and deepen connections with today’s luxury travelers. Backed by extensive consumer insights, the digitally-led campaign grounded in an understanding of rising consumer expectations and their desire to live in the moment pairs the brand’s legacy with an unexpected, playful take on True Waldorf Service.
Karma moves in France. Karma Group has announced the acquisition of Karma Manoir des Deux Amants and Karma Residence Normande on the banks of the river Seine in the heart of Normandy in the French countryside. Comprising 49 apartments between them, Karma plans to refurbish the hotels, adding to its current collection of 28 resorts in more than 10 countries, including Australia, France, Germany, Greece, India, Indonesia, Thailand, Vietnam and the United Kingdom.
Three Hyatt Centric deals. Hyatt Hotels Corp. announced plans for new Hyatt Centric hotels for Los Angeles, Philadelphia, and Portland, Oregon. The company said the hotels are in addition to previously announced plans for Hyatt Centric hotels in Dakar, Senegal, San Salvador, El Salvador and Melbourne, Australia.
Graduate for Palo Alto. AJ Capital Partners, Chicago, has acquired the President Hotel Apartments, formerly Hotel President, in Palo Alto, California. The building will undergo an historic renovation to convert to Graduate Palo Alto and open in 2020.
Moscow and World Cup. Moscow’s hotel industry is projected by STR to see growth in the range of 20% and 30% in RevPAR during June and July 2018, whne it will host the FIFA World Cup. The increase would be less than the growth realized in Rio de Janeiro (2014) and Johannesburg (2010). ??While occupancy is likely to grow between 8% and 10% to absolute levels just under 80%, Moscow’s average daily rate is projected to increase between 15% and 20%.
Leela solutions. Hotel Leelaventure’s board approved an enabling resolution that will allow the Delhi-based company to transfer a majority stake to JM Financial Asset Reconstruction Co., even as the hotel chain’s co-chairman hinted at a possible deal with a consortium of three foreign entities to find a solution to its debt problem.
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