Four Seasons builds Bangkok: Country Group Development and Four Seasons Hotels and Resorts have announced plans for a luxury hotel and resident project in Bangkok. The hotel will include more than 300 rooms while the residences will consist of over 350 all-corner unites in a 73-story tower. The hotel and residences are expected to be completed by the end of 2018.
Read more at Hotels and Traveller
Greensboro Marriott acquired: Hospitality Ventures Management Group acquired the 299-room Greensboro-High Point Airport Marriott in North Carolina for an undisclosed amount. The hotel will undergo a US$11 million renovation to update meeting spaces and guestrooms.
Buccini buys in Texas: The Buccini/Pollin Group acquired the 282-room DoubleTree by Hilton DFW Airport North in Irving, Texas.
Ashford Trust completes refinancing: Ashford Hospitality Trust has successfully refinanced two mortgage loans with an existing outstanding balance of approximately US$354 million. The new loans total US$478 million and result in excess net proceeds of approximately US$107 million after closing costs and reserves.
Dominvs Group unveils contruction program: Dominvs Group and McAleer & Rushe have signed the first in a series of phased contracts worth in excess of £100 million (US$119.2 million) to build out a development program of hotels across the UK. The first legal agreement was a £26 million (US$27.4 million) contract to design and build two hotels in Aberdeen.
Hotel Okura expands into Turkey: Hotel Okura will sey up five hotels in Turkey by 2020 with the goal to attract travelers visiting Japan for the Tokyo Olympics.
Waterpark projects: Nineteen waterpark resort projects opened in the U.S. in 2014, which was a 7.5% increase over 2013. Twelve projects were brand names such as Lego, Great Wolf, Royal Caribbean, Ramada and Four Seasons and seven projects were independent owner projects.
Revel sold: A U.S. bankruptcy judge has approved the sale of the Revel Casino Hotel in Atlantic City, New Jersey. Glenn Straub’s winning bid was US$95.4 million for the complex, which originally cost US$2.4 billion to build.