Lotte aims for IPO: Lotte Group’s hotel unit applied for its initial public offering on the Korean Exchange, one of the reforms pledged by the retail conglomerate in the wake of a family struggle for control.
Read the story by Yonhap News Agency.
Gaylord Rockies gets go-ahead: Marriott International Inc. closed on a $500 million loan to proceed with construction of the Gaylord Rockies Resort and Convention Center in Aurora, Colorado. Marriott is partnering with RIDA Development Corp. and Ares Management LP. The property, scheduled to be completed in late 2018, will be managed by Marriott and comprise 2 million square feet and 1,500 rooms.
From Paris, with love: AccorHotels joined a viral campaign to show solidarity for Paris in the wake of the November terrorist attacks. Alliance 46.2, supported by the French government, the city of Paris and 50 companies, is using the hashtag #ParisWeLoveYou to promote the city as an attractive destination.
Qatari sheikh in court case: The former prime minister of Qatar has been accused in a court case of illegally running the InterContinental Park Lane in London, a potential violation of diplomatic immunity, and falsely imprisoning his accuser for 15 months.
Read the story in the Guardian.
Charleston DoubleTree sold: Rockbridge, a private equity firm, acquired the DoubleTree Hotel and Suites Charleston in the South Carolina city’s historic district, along with the adjacent Hank’s Seafood Restaurant, from The Holliday Companies Inc. The purchase price was not disclosed.
Olshan Properties buys Hilton: Olshan Properties, a private real estate owner and developer based in New York, purchased the Hilton Orrington/Evanston for approximately $60 million. The seller was a joint venture of the Carlyle Group and Dow Hotel Co. The hotel, in north suburban Chicago, is located close to the campus of Northwestern University and is the sixth property owned and managed by Olshan.
Melbourne trade: M&G Real Estate, London, has acquired The Olsen and Cullen hotels in Melbourne for A$146 million (US$105 million) from Asian Pacific Group, who will continue to manage the properties, reports The Australian. The hotels were developed under the group’s Art Series brand, which it is looking to expand in the UK and United States.
New York Airbnb crackdown? New York state lawmakers are preparing a bill that would prohibit the advertising of illegal housing units, in an attempt to make it more difficult to unlawfully rent apartments in the city.
Read more in the New York Daily News.
Twenty14’s first India hotel: Twenty14 Holdings, the hospitality investment arm of Abu Dhabi-based LuLu Group International, acquired its first property in India, the Abad Airport Hotel, Kochi. The purchase price of the 54-room hotel was not disclosed. Twenty14 was in talks with Marriott to rebrand the property as a Fairfield by Marriott Hotel.
$200 million for Oahu property: Hawaiian developer The Resort Group said China Oceanwide Holdings Group Co. Ltd. is buying two oceanfront parcels on the island’s west coast to build a luxury hotel and homes. The parcels are inside the Ko Olina community. The Honolulu Star-Advertiser reported that China Oceanwide paid $200 million for the 17-acre property.
Google dashboard goes global: Google launched its APAC Travel Dashboard worldwide. The dashboard, which debuted in the US a few months ago, tracks travel search queries and aims to give travel businesses data to help them plan ahead.
Take a look at Google’s travel dashboard here.
Zeppelin to rise in San Francisco: Pebblebrook Hotel Trust, which purchased The Prescott in San Francisco’s Union Square in 2014, announced plans to rebrand the property as the Hotel Zeppelin, the fourth of its Unofficial “Z” Collection, to be designed by Dawson Design Associates.
Gencom acquires Ames Boston: Real estate investment and development firm Gencom purchased the 114-room Ames Boston Hotel. It plans a multimillion-dollar renovation to the hotel, which will be managed by Gemstone Hotels & Resorts.
FibraHotel in Puerto Vallarta: Mexican REIT FibraHotel plans to develop a 143-room hotel in La Isla Puerto Vallarta shopping center, currently under construction. The select-service hotel, which will be branded a Fiesta Inn, will be operated by Grupo Posadas and is expected to open as soon as late 2016.
Future Fairfield names management: Atlanta-based Hotel Equities will manage the Fairfield Inn & Suites by Marriott in Terrell, Texas. The planned hotel, 30 miles east of Dallas, is scheduled to open in early 2017.