Bad timing on Park Lane Hotel bid? The New York Times reports on the Park Lane Hotel, a gold-plated property, and its complicated backstory involving an owner on the lam, which may explain why no one hit their bid target of US$1 billion.
Read more in the New York Times
Luxury Collection in Okinawa: Marriott International’s Luxury Collection signed the Iraph Sui, a hotel in the city of Miyakojima, Okinawa province, Japan, owned by Mori Trust Group and slated to open in late 2018. It’s the third hotel of the collection in Japan.
Four Seasons to manage: Access Industries appointed Four Seasons Hotels and Resorts to manage the Ocean Club on Paradise Island, Bahamas, starting at the end of this month. The resort will be renamed The Ocean Club, A Four Seasons Resort, Bahamas. Access also owns the Grand-Hôtel du Cap-Ferrat, A Four Seasons Hotel.
SureStay in Australasia: Best Western Australasia has launched its white-label economy brand, SureStay, in Australia and New Zealand. Best Western executive said “fruitful discussions” are taking place and the first property would probably go live in early 2018. The brand was launched last year and now has 33 properties in the United States, Sweden and Thailand with another 44 in the pipeline.
Host REIT results: Host Hotels & Resorts reported 3Q adjusted EBITDA of US$317 million, higher than the US$303 million estimate by SunTrust Robinson Humphrey’s Patrick Scholes, he writes. The REIT estimated the financial impact from hurricanes, after insurance, to total about US$20 million.
Trump hotel lawsuit: U.S. Democrats on a House oversight committee filed a lawsuit against the General Services Administration to gain access to documents related to President Donald Trump’s Washington, D.C., hotel. The group claims the documents would determine whether the president is using the hotel for his personal gain.
Viceroy dispute update: A judicial committee in Dubai ruled that Viceroy Hotel Group could enforce an injunction against the owner of the Viceroy Palm Jumeirah Hotel, Kabir Mulchandani, over the management and branding of the hotel. The injunction requires Mulchandani to restore Viceroy branding and management to the hotel.
Hilton to pay in breach: Hilton Worldwide agreed to pay US$700,000 to settle a claim against the company regarding two data breaches in 2015, in New York and Vermont. According to investigators, “Hilton did not provide consumers with timely notice and did not maintain reasonable data security.”
Hyatt results: Hyatt Hotels reported 3Q financial results, including net income of US$16 million, from US$62 million in the year-earlier period. CEO Mark Hoplamazian announced that the company plans to sell about US$1.5 billion of real estate in the next three years.
Radisson Blu in Maldives: Carlson Rezidor Hotel Group signed a management agreement for a 128-villa Radisson Blu Resort Maldives with Chang Hua Holdings. It’s the first Radisson Blu in that market and is expected to open in early 2019 on Alifu Dhaalu Atoll.
Avani in Hua Hin: Minor Hotels announced a joint venture partnership with B&G Park Co. Ltd. to own and operate a resort in Hua Hin, Thailand. The 196-room hotel is currently operating as the Ananda Hua Hin Resort & Spa but will be rebranded the Avani Hua Hin Resort & Villas later this month. Minor invested US$22.5 million in the deal.
Nobel House in British Columbia: Noble House Hotels & Resorts will manage The Josie Hotel, at the base of Red Mountain Resort in Rossland, British Columbia, in partnership with William Cole Companies. It is slated to open in early 2018.