Ritz-Carlton to debut in Budapest: The Ritz-Carlton Hotel Co. has signed a deal with Al Habtoor Group to open the first Ritz-Carlton property in the Hungarian capital. Located in the heart of Budapest, the 192-room hotel will undergo an extensive renovation set to commence at the beginning of 2016 and is due for completion in the second quarter of that year.
Read more at Marriott’s website
Scandic to build new Norway hotel: Scandic Hotels said it will open a new 220-room hotel in 2018 — Scandic Portalen — at Norway Trade Fairs in Lilleström.
Shaza to open Bahrain hotel: Shaza Hotels announced the signing of a management agreement with Hani Group for the operation of a 156-room hotel in the Seef district of Bahrain. Shaza Seef Bahrain is expected to open in Q2 2017.
Dusit to add two in UAE: The new-build, 235-room DusitD2 TECOM Dubai is slated to launch in March 2016, and the 216-room DusitD2 Residence Al Manzel Abu Dhabi is scheduled to debut in January 2016.
Aloft and Element to expand: Starwood Hotels & Resorts Worldwide announced five new properties set to open in the next five years under its Aloft and Element brands: Aloft Dubai Airport, Element Dubai Airport, Aloft Dubai World Central, Aloft Doha and Aloft Muscat.
Read more at Starwood’s website
Mövenpick to grow in Morocco: Mövenpick Hotels & Resorts announced a third property in Morocco, Mövenpick Hotel & Palais Des Congrès, Marrakech. The 501-room hotel, owned by Kuwait’s Al Ajial Asset Fund, is expected to soft-open in Q4 2015.
Frankfurt’s PalaisQuartier sold: Deutsche Bank and retail property group ECE are set to buy the PalaisQuartier shopping center and hotel complex in Frankfurt, Germany, for around €800 million euros (US$995 million). The PalaisQuartier, owned by a real estate arm of Rabobank, includes the MyZeil shopping center and the Hotel Jumeirah Frankfurt.
Meridian buys Hyatt Regency Bethesda: The Meridian Group announced it has closed on the purchase of the Hyatt Regency Bethesda, with plans to reposition the Bethesda, Maryland, hotel. Meridian bought the 390-room hotel from LNR Partners for an undisclosed price. The property is under a management agreement with Hyatt Hotels Corp. until December 31, at which point Meridian will have the option of rebranding the asset. Meridian has retained Highgate Hotels to manage the property after the expiration of the Hyatt management agreement. A sister company of Highgate is investing along with Meridian in the hotel.