Bid for Hilton Grand Vacations: Apollo Global Management has expressed interest in acquiring Hilton Grand Vacations, according to a New York Post report. Apollo reportedly gave the Orlando-based group three options: buy Hilton Grand at a premium to its share price, merge the company with Apollo-owned Diamond Resorts and keep the combined business public, or tender for Hilton Grand shares at a premium to the current Hilton Grand share price, sources said. Apollo has not indicated what it would pay, but sources said the private equity firm could bid as much as US$36 a share — a 28% premium over the company’s closing price Monday. Besides Apollo, the Blackstone Group could also be a suitor, sources said.
Deutsche Hospitality finds Maxx franchise developer: Deutsche Hospitality will expand its Maxx by Steigenberger portfolio by up to 12 hotels in German-speaking countries before the end of 2022 through a new franchise agreement with the family-owned Brendal Hotel Group, Berlin. Brendal has runs its hotels independently, but following a corporate restructuring it has opted to pursue growth based on the agreement with Deutsche Hospitality and via franchising arrangements with Maxx by Steigenberger brand.
Two California icons sold: Procaccianti Companies, Providence, Rhode Island, has acquired two Northern California hotels: The Lodge at Tiburon and Toll House Hotel located in Los Gatos. Together, the hotels comprise 228 guest rooms and suites and approximately 6,500 sqft of meeting space.
Easyhotel sold for a song?: A consortium of investors have taken control of Easyhotel for £139 million (US$169 million), despite protests from Sir Stelios Haji-Ioannou, the company’s founder, that the offer was “very low,” the Times has reported. Ivanhoé Cambridge, of Canada, and Icamap, of Luxembourg, working under the name of Citrus UK Bidco, said that they now held or had received acceptances for shares representing more than 50% of Easyhotel’s voting rights. The offer values Easyhotel’s shares at 95p and has been accepted by the board but dismissed by the founder. He said that the price gave “no value” to the business beyond its physical bricks-and-mortar assets.
Layoffs in Hong Kong: Hong Kong’s hotel workers are being placed involuntarily on paid and unpaid leave as occupancy rates plummet due to nearly three months of anti-government protests, according to the South China Morning Post. For example, the Mira Hong Kong has reportedly put scores of housekeepers on leave. The 503-room InterContinental Hong Kong reportedly has asked permanent members of staff to take annual leave and unpaid leave to save money, with 10 hotels operated by tycoon Li Ka-shing’s CK Asset Holdings reportedly making a similar move.
Read South China Morning Post report
Potential hotel shooting thwarted: Police in Long Beach, California, said they stopped a possible mass shooting at the Long Beach Marriott when they arrested a Huntington Beach man who reportedly threatened to carry out violence at the hotel where he worked as a cook due to human resources-related issues. Rodolfo Montoya, 37, was taken into custody Tuesday at his home after a co-worker alerted police about his threats to shoot staff members. Officers seized multiple high-powered firearms.
Best Western buys PMS company: Best Western Hotels & Resorts (BWHR) has acquired property management system company AutoClerk to broaden and simplify its distribution strategy for member hotels. “This acquisition will enable BWHR to enhance its competencies in an increasingly complex distribution landscape to drive benefits to its hotels with faster and more reliable connectivity,” said BWHR President and CEO David Kong. “It will also allow us to implement technology solutions to help our hotels become more effective in servicing its guests, simplify management of rates and inventory and improve management reporting.” Current and new AutoClerk customers not associated with BWHR reportedly will also benefit from BWHR’s planned investments in the system’s infrastructure and development resources to improve system performance.
Update on Japanese casino bids: Las Vegas Sands Corp. said it will focus on the Tokyo and Yokohama areas as potential locations to build a casino resort, according to a Bloomberg report. Sands made clear in a statement Thursday that it’s no longer interested in Osaka, long seen as the place where the country’s first integrated resort may open. A maximum of three locations will be allowed under a law passed last year.