Homewood Suites to expand in DC: Hilton Worldwide signed an agreement with KCG 50 M LLC to open the 195-room Homewood Suites Washington DC – US Capitol/Ballpark Area in Washington, D.C. in the second quarter of 2016.
Aloft to enter New Orleans: Starwood Hotels & Resorts Worldwide signed a franchise agreement with 225 Baronne Complex LLC, an entity of HRI Properties to open the 188-room Aloft New Orleans Downtown in 2015. The hotel will be managed by HRI Lodging.
Read more at The Wall Street Journal
Aimbridge adds 3 hotels in Wisconsin: Aimbridge Hospitality signed management contracts for the 149-room Holiday Inn Hotel & Convention Center and the 66-room Holiday Inn Express & Suites, both located in Stevens Point, and the 91-room Holiday Inn Hotel & Conference Center, located in Marshfield.
Hilton to expand in Saudi Arabia: Hilton Worldwide signed an agreement with H.E. Sheikh Dr. Jassim bin Nasser bin Jassim bin Mohammed Al Thani to open the 180-room Hilton Al Ahsa in 2016.
European hotel transactions hit pre-downturn levels: HVS London reports that total hotel transaction across Europe reached a value of €7.7 billion (US$10.5 billion) in 2013, up 39% on 2012 figures. European hotel transactions have reached their highest point since 2007 with the U.K. being the most liquid market in Europe, with transaction volume reaching €3 billion (US$4.1 billion). The Netherlands had the biggest increase in transactions in 2013. Middle Eastern buyers are playing a significant part in the transactions market, with spending on single assets from high-net worth individuals up 70% last year to €982 million (US$1.34 billion).
Click here to download the full report from HVS
Caesars selling 4 properties to affiliate: Caesars Entertainment Corp. is selling the 2,814-room Bally’s Las Vegas, the 2,700-room The Quad Resort and Casino and the 188-room Cromwell (set to open in May) and the 450-room Harrah’s New Orleans to its affiliate, Caesars Growth Properties for US$2.2 billion.
Ashford sells Pier House to subsidiary set for spinoff: Ashford Hospitality Prime completed the acquisition of the 142-room Pier House Resort and Spa, located in Key West, Florida, from Ashford Hospitality Trust for US$92.7 million.
Read more at The Wall Street Journal
Virgin Group reportedly preparing to operate cruises: Virgin Group is reportedly moving toward entering the cruises sector.