News in brief: Morgans, NH Hoteles, Arab Spring

Morgans buys London hotel:  The Sunday Times reported that Morgans Hotel Group, with backing from Invesco Ltd., bought the Hoxton Hotel for £68.5 million (US$107 million).

Read more at Bloomberg


NH Hoteles sells discounted stake:  HNA Group has agreed to buy a 20% stake in Spanish business hotel chain NH Hoteles at a 24% reduction of its original price.

Read more at Financial Times


Arab Spring costs $7 billion:  Political turmoil caused by the Arab Spring has cost the Middle East and North Africa region US$7 billion in tourism revenue according to the Arab Tourism Organization.

Read more at Arabian Business


Pyrrho may nix MWB refinancing:  Pyrrho Investments Ltd. may vote against a refinancing deal for MWB Group Holdings Plc.

Read more at Reuters


Whitbread profit up 25%:  An increase in sales at Premier Inn hotels and Costa Coffee chain stores boosted Whitbread’s profit 25% year-on-year during the first half of 2011.

Read more at Financial Times