News in brief: Cerberus, Hyatt, Shangri-La

Cerberus reveals reasoning behind scuttled deal:  In bankruptcy court documents, Cerberus Capital Management LP revealed that it walked away from its US$1.12 billion hotel purchase deal with Innkeepers USA because of what impact the deteriorating U.S. economy would have on the 64-hotel portfolio.

Read more at the Wall Street Journal


Hyatt expands in Qatar:  Hyatt Hotels Corp. announced on Wednesday that it signed a deal to manage the 181-room Park Hyatt Doha in Doha, Qatar. The new-build hotel is scheduled to open in 2016.

Read more at MarketWatch


Shangri-La expands in China:  Shangri-La Hotels and Resorts is set to manage a 400-room hotel in Jinan, China set to open in 2015.

Read more at 4-Traders


Al Habtoor resumes Palm Jumeriah project:  After the project stalled as the financial crisis set in, Al Habtoor announced on Wednesday that construction of the Habtoor Island Resort and Spa on Dubai’s Palm Jumeriah.

Read more at The National


Japanese Disney theme parks slump:  The combined number of visitors to Japan’s Tokyo Disneyland and DisneySea during the April-September season fell 17.1% year-on-year from 2010.

Read more at The Japan Times