Qatari Diar to build 5 hotels in Oman: Qatari Diar, a branch of sovereign wealth fund Qatar Investment Authority, signed a memorandum of understanding to build two 5-star hotels and three boutique hotels as part of three separate mixed-use developments in Oman.
Socar to invest €258 million in Adriatic resort: The State Oil and Company of Azerbaijan Republic (Socar) plans to invest €258 million (US$210 million) in a tourist resort in Montenegro’s Bay of Kotor.
Moscow to auction Metropol hotel: Moscow’s municipal government announced on Wednesday that it will auction the 362-room Metropol in August for a starting bid of 8.7 billion rubles (US$263.8 million).
Australia Acquisition Corp. buys developer: Australia Acquisition Corp. is purchasing Asian Coast Development as part of a larger US$350 million with Harbinger Capital Partners.
Leisure Ventures expands in Maldives: Leisure Ventures bought the Soneva Gili Resort and Spa, located on Lankanfushi Island. The resort will be renamed Gili Lankanfushi and managed by HPL Hotels and Resorts.
Oetker, Guerlain partner for spas: Oetker Collection and Guerlain have announced an exclusive partnership that will allow Guerlain spas to accompany the development of Oetker Collection “Masterpiece Hotels” worldwide.