Investindustrial may make Club Med counteroffer: Italian investor Andrea Bonomi’s Investindustrial Development may make a counteroffer to buy out Club Méditerranée. Club Med received a €17.50 (US$23.84) per share offer from Fosun International and AXA Private Equity in 2013.
Grand Hyatt to expand in United Arab Emirates: An affiliate of Hyatt Hotels Corp. signed a management agreement with Emirates Pearl for Development & Investment to open the 368-room Grand Hyatt Abu Dhabi Hotel and Residences Emirates Pearl in 2015.
Prism to expand in Texas: Prism Hotels & Resorts signed a management deal with Stratford Hospitality to operate the 303-room Sheraton DFW Airport Hotel.
Hyatt to expand in Germany: An affiliate of Hyatt Hotels Corp. entered into an agreement with Badriah Investments B.V. to develop the 146-room Neues Schloss Baden-Baden, a Hyatt Hotel within a 16th century castle in Baden-Baden.
Pentahotel to expand in China: Rosewood Hotel Group signed a management agreement with Ningbo Grand Investment Co. to open the 333-room PEntahotel Ningbo in 2017.
HNA plans to purchase 29.5% of NH Hoteles: HNA Group Co. signed an agreement with Intesa Sanpaolo to purchase 29.5% of the stock of NH Hoteles, 29.5% of the company, for €132.6 million (US$180.6 million).
Starwood, Design start negotiations to conclude domination agreement: Starwood Hotels & Resorts and Design Hotels have started negotiations on concluding a domination agreement. Starwood purchased a 49.8% stake in Design Hotels in 2011.
Accor to expand in Saudi Arabia: Accor signed an agreement with Aleyasi Group to manage the 200-room Adagio Aparthotel Jeddah Alesayi Plaza and the 150-unit Adagio Aparthotel Riyadh Dhabab, both set to open in 2017.