RLJ acquires 2 hotels on U.S. West Coast: RLJ Lodging Trust, Bethesda, Maryland, has acquired the 256-room Courtyard Portland City Center in Portland, Oregon, and the 293-room Embassy Suites Irvine Orange County in Irvine, California, in an off-market transaction. The combined purchase price is US$120 million, or approximately US$219,000 per key.
Hyatt to expand in Germany: A Hyatt affiliate has entered into an agreement with Badriah Investments B.V. to develop a Hyatt-branded hotel within a 16th-century castle in Baden-Baden, Germany. The 146-room Neues Schloss Baden-Baden, a Hyatt Hotel is scheduled to open in 2018.
EasyHotel to pursue IPO: EasyHotel is seeking to raise up to £60 million (US$101 million) on London’s Alternative Investment Market to fund European expansion. The company, which is fully owned by easyGroup Holdings, currently has 20 hotels, 17 of which operate as franchises.
FibraHotel acquires hotel in Leon, Guanajuato, Mexico: The Mexican REIT has closed the acquisition of the select-service, 165-room Fussion 5 hotel lin Leon, Guanajuato. The hotel will be rebranded as the Real Inn Leon-Bajio hotel and will be operated by Grupo Real Turismo. The transaction was paid with cash and represents a total investment of $120 million pesos (US$9.3 million).
Hotel Okura Tokyo to undergo revamp for Olympics: Hotel Okura Co. said Friday it plans to start rebuilding the main building of its flagship hotel next year to upgrade its facilities and services in advance of the 2020 Tokyo Olympics, with plans to reopen the property in 2019.