Park Hyatt Beaver Creek acquired: Ashford Hospitality Prime entered into a definitive agreement to acquire the 190-room Park Hyatt Beaver Creek Resort & Spa in Beaver Creek, Colorado, for US$145.5 million ($766,000 per key).
Capella to open in Bangkok: Bangkok-based real estate developer Country Group Development will open a Capella hotel in the Thai capital in 2018. The Capella Bangkok will be part of a luxury residential and hotel development, The Chao Phraya Estate.
Artwork seized in Zurich: Swiss customs officials seized at least 30 works of art from Zurich’s Dolder Grand hotel in a dispute over unpaid taxes by Urs Schwarzenbach, the hotel’s owner. Paintings taken included works by Robert Indiana, Keith Haring and Gerhard Richter.
Read more in the Financial Times
Mama Shelter in Prague: Boutique hotel Mama Shelter will open a hotel in Prague at the end of the year. The 238-room property, the seventh for the brand, will be converted from a former Parkhotel and will be designed by Jalil Amor.
Trump trademarks OK’d in Mexico: The Mexican Institute of Industrial Property, or IMPI, has authorized the Trump brand to operate in Mexico. Last weeks the Chinese government did the same. The Mexican trademarks cover business operations including construction, hotels, hospitality and tourism, among others.
Read the story in the Seattle Times
Indonesian airport hotels: A subsidiary of state-owned airport operator PT Angkasa Pura II will construct four hotels this year at airport locations, including three at Soekarno-Hatta Airport and one at Kualanamu International Airport, Deli Serdang, North Sumatra, The total investment will be Rp 375 billion (US$28.1 million).
The Jakarta Post has the story
Pace closes on Playa: Pace Holdings Corp. completed its business combination with Playa Hotels & Resorts an owner, operator and developer of all-inclusive resorts. The combined company will retain the Playa name and will be a publicly listed company with an anticipated initial enterprise value of approximately US$1.75 billion. Playa owns and operates resorts in the Dominican Republic, Jamaica and Mexico.
Nairobi heading for oversupply? Nairobi’s hospitality industry faces an oversupply of hotel rooms, analysts from a local business advisory firm, PKF, suggested. The more than 2,000 hotel rooms projected to be added in the next two years could surpass demand and lower average occupancy 25% to 30% versus the current 50% to 60%.
TownePlace in Tucson: HSL Properties purchased the 76-room TownePlace Suites by Marriott in Tucson, Arizona, for US$4.5 million. HSL owns seven hotels in southern Arizona.