News in brief: Club Med, Grand Hyatt, Prism

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.

Read more at Bloomberg


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.

Read more at BusinessWire


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.

Read more at Hyatt’s website


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.

Read more at Asia TravelTips


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).

Read more at 


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.

Read more at TTG MENA