News in brief: IHG, HRI, Ascott

IHG to open two hotels in Dubai: IHG has signed a franchise agreement with Abjar Hotels International for a new 450-room Holiday Inn and 250-room Staybridge Suites. The two hotels will be located in Dubai World Central along the main route to Al Maktoum International Airport. 

Read more at IHG’s website


IHG signs sixth Holiday Inn Express in Russia: IHG signed its sixth Holiday Inn Express in Russia located in Moscow. The 144-room hotel will open in 2019 and will be part of a multi-use complex that encompasses a gymnastics arena and school. IHG recently launched its first Russian Holiday Inn Express in Voronezh.


HRI secures US$150 million investment: Almanac Realty Investors LLC has agreed to provide up to US$150 million of growth capital to HRI Properties LLC. HRI will use the capital for development of mixed-use and revitalization projects, acquisitions and national growth. 

Read more at Hospitality Net


Ascott enters strategic partnership with Quest: The Ascott Limited announced a partnership with Quest Serviced Apartments. Ascott expects to invest up to AUD500 million (US$560 million) over the next five years to acquire new properties in Australia. Ascott also signed an agreement to acquire 20% stake in Quest for AUD28.8 million (US$32.3 million) and has the option to increase its stake to 30%.

Read more at Hsyndicate


Walt Disney World Swan and Dolphin Hotel announces redesign: The Walt Disney World Swan and Dolphin Hotel in Lake Buena Vista, Florida launched a multi-phase, multi-year renovation project. The $125 million redesign is the largest renovation in the hotel’s 25-year history.