Jin Jiang adds hotels: Investor Actis sold its minority stake in Chinese mid-range hotel chain Plateno Hotel Group to Shanghai Jin Jiang International Hotels Development Co. Jin Jiang now holds an 81% stake in Plateno (about US$1.53 billion). Plateno has more than 2,500 hotels.
Accor and Ibis: AccorHotels signed a management agreement with Mawarid Finance to develop a 200-room Ibis Styles hotel in Dubai, scheduled to open in 2018, that will be part of a mixed-use development. Marawid is backed by several hundred regional families and institutions.
Isrotel purchase: Isrotel signed a nonbinding agreement to buy the 97-room Mizpe Hayamim Hotel in Rosh Pina, Israel, from hotelier Sami Hazan, for NIS 103 million (US$26.3 million). The hotel has a dairy and organic farm that supplies the hotel restaurant. Isrotel operates 4,140 rooms in Israel.
Big plans for the Balsams: Ski resort mogul Les Otten plans a restoration of New Hampshire’s Balsams Hotel, a dilapidated but historic resort in New Hampshire. The former minority owner of the Red Sox has ambitious plans to create the largest ski area in the Northeast.
Read the story in the Boston Globe
Absolute in Bangkok (again): Absolute Hotel Services Group its second Eastin Grand Hotel in Bangkok, the third hotel in its portfolio. The 394-room Eastin Grnd Hotel Phayathai Bangkok will be part of a mixed-use complex including office space and retail. It’s targeted to open in mid-2019.
Rove in Dubai: Dubai-based Emaar Hospitality Group’s Rove Hotels is adding a 458-room hotel to its portfolio next to Dubai Parks & Resorts, a theme park due to open in October.
Financial Express has the story
Lemon Tree listing: Warburg Pincus plans to list Lemon Tree Hotels Ltd. The private equity firm invested 550 crore (US$79.9 million) in the Indian hotel company. The IPO is expected to attract about 800 to 1,000 crore (US$116 million to US$145 million).
Read more on Deal Street India
Expedia tool for hoteliers: Expedia Group is rolling out PartnerCentral Conversations as part of the online booking company’s PartnerCentral platform to offer direct dialogue between hoteliers and booked guests and help hotels increase revenues by engaging customers more effectively.