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