News in brief: Kempinski, Sofitel, Istithmar World

Kempinski to reenter Latin America:  Kempinski Hotels announced that it will reenter Latin America with the opening of a 106-room resort in Colón Province, Panama, in 2015.

Read more at Kempinski Hotels


Auckland hotel reflags:  A former Westin hotel in Auckland’s Lighter Quay rebranded on Monday as Sofitel Auckland Viaduct Harbour.

Read more at The National Business Review


Mandarin Oriental NYC close to refinancing:  Istithmar World is reportedly close to refinancing the Mandarin Oriental Hotel New York City with the Bank of China.

Read more at The Wall Street Journal


Philippines expects $7 billion:  The Philippines government said that in addition to the US$5 billion investment in casino-resort projects already committed, that it expects an additional US$2 billion to be invested in Manila lodging-gaming developments.

Read more at Bloomberg Businessweek


Cap Juluca to be sold:  The greater part of the real estate comprising the Cap Juluca resort, located in Anguilla, is to be sold via auction.

Read more at MarketWatch


Baha Mar 25% complete:  The US$3.5 billion Baha Mar project announced that one year into its construction, it is now 25% complete. The property is set to open in 2014.

Read more at The Bahamas Weekly