Hilton plans Dubai World Center hotel: Hilton Worldwide signed a management agreement with the hospitality division of the Mohammad Omar Bin Haider Holding Group to open Hilton Dubai World Central. The hotel is scheduled to open in 2019 and include 535 guestrooms, eight meeting rooms, six board rooms and a multifunctional ballroom.
IHG signs in Chennai: IHG signed a management agreement for the 106-room InterContinental Chennai Mahabalipuram Resort with Adyar Gate Hotels in India. This will be the second hotel under the InterContinental brand in India.
Shangri-La to manage in Jeddah: Shangri-La International Hotel Management and Assila Investments signed a memorandum of understanding for the management and operation of a luxury hotel and residences development in Jeddah, Saudi Arabia. The property is slated to open in 2018 and will be the first Shangri-La in Saudi Arabia.
Read more at Shangri-La’s website
Abu Dhabi sovereign wealth fund buys in Raleigh: Kane Realty and Concord Hospitality Enterprises sold the Renaissance Raleigh North Hills for US$79.91 million and the Hyatt House Raleigh North Hills for US$22.95 million to the sovereign wealth fund of the government of Abu Dhabi.
Read more at The News Observer
Hyatt invests in Onefinestay: Hyatt Hotels Corp. has invested in Onefinestay. Zacks reports market rumors that the investment was part of the nearly US$40 million funding that was completed in 2014.
Expedia sells majority stake in eLong: Expedia sold its 62.4% majority stake in eLong to several purchasers in China, including including Ctrip.com International, Keystone Lodging Holdings, Plateno Group and Luxuriant Holdings for a total purchase price of approximately US$671 million.
Read more at Expedia’s website
Starboard buys five ibis hotels: Starboard Hotels purchased five ibis hotels in the UK as part of a €32 million (US$34.86 million) portfolio sale of seven properties.
Read more at the Plymouth Herald
The Curtis sold: The Curtis – a DoubleTree by Hilton in Denver was sold for US$86 million to a partnership between Sage Hospitality and AllianceBernstein Holding.
Read more at The Denver Business Journal
Red Lion franchises in Colorado: Red Lion Hotels Corp. signed a franchise license agreement in La Junta, Colorado. The hotel is scheduled to convert in June to the Red Lion Hotel La Junta.
Strategic closes on Hyatt Regency La Jolla: Strategic Hotels & Resorts closed on the sale of the Hyatt Regency La Jolla for US$118 million. Strategic formerly owned a 53.5% interest in the hotel and will use the proceeds of the sale to reduce outstanding debt.