Choice earnings down in 2013 but up in Q4: Choice Hotels International reported a net income of US$112 million for 2013, down 7% year-on-year and US$27.3 million for the fourth quarter of 2013, up 12% year-on-year.
Andaz to enter Germany: An affiliate of Hyatt Hotels Corp. signed an agreement with Jost Hurler Beteiligungs-und Verwaltungsgesellschaft mbH & Co. KG to open the 274-room Andaz Munich in 2017, the Andaz brand’s first in Germany.
Read more at Incentive Travel & Corporate Meetings
Hong Kong’s Disneyland investing in new hotel: Hong Kong Disneyland Resort is investing US$550 million to open a third hotel in 2017 that will increase the resort’s total guestrooms by 75%.
Read more at The Wall Street Journal
Pan Pacific to expand in China: Pan Pacific Hotels Group signed an agreement with Xinyuan Holding Group Co. to open the 360-room Parkroyal Chengdu in 2017 and another agreement with Zhuhai Weilins New Materials Development Co. to open the 300-room Pan Pacific Zhuhai.
Argosy, Evolution buy California hotel: A partnership formed by an affiliate of Argosy Real Estate and senior principals of Evolution Hospitality acquired the 215-room DoubleTree by Hilton LAX – El Segundo for an undisclosed sum.
Main Street developing Massachusetts hotel: Main Street Hospitality Group announced the development of the 45-room Hotel on North, to be located in Pittsfield.
TAS Alliance launched: The TAS Alliance, an alliance of independently owned and operated service apartment properties, launched on Monday.