Woodbine Development: Dallas-based developer Woodbine Development Corporation launched a US$85 million private equity fund, Woodbine Legacy Investments, aimed at full-service and upscale select-service hospitality acquisitions and investments. Woodbine Development bought the Hilton Dallas, Park Cities, in March.
Internos: Internos Global Investors raised an initial €133 million (US$149.8 million) for a European hotel real estate fund. Seven German institutional investors backed the vehicle, the manager’s second targeting the sector. The fund will target value-add investments in 3- and 4-star city center business hotels.
Dalata: Dalata Hotel Group of Dublin agreed to the sale and 35-year leaseback of its 4-star Clayton Hotel in Cardiff, Wales, to M&G Real Estate. The £22.1 million (US$28.5 million) transaction will be completed mid-month.
U.S. labor board: The Trump administration’s delay in naming members to the U.S. National Labor Relations Board is causing delays in cutting what lawyers called onerous regulations introduced during the Obama administration, lawyers said at a roundtable at New York University’s International Hospitality Industry Investment Conference this week.
Read more at Law 360 (registration required)
West Elm: Furniture and design retailer West Elm announced a sixth location for its hotel portfolio, in Oakland, California. West Elm Hotels is partnering with Signature Development Group and Jordan Real Estate Investments on the hotel, which is expected to open in 2020.
Resorts World: The Philippines government began its inquiry into alleged security lapses at last week’s attack by a gunman at Resorts World casino and hotel complex that killed 38 people.
Yotel: A Yotel will be part of the Jewel Changi Airport mixed-use development at the center of Singapore Changi Airport. It’s expected to open in 2019, along with a five-story indoor garden, shopping and dining options and other attractions.
Accor: AccorHotels took over management of Tune Hotel Westlands in Nairobi. It will be rebranded as an Ibis Styles later this year.
Read more in the African Business Fortune
Choice: Choice Hotels International partnered with Stratus Development Partners on a 90-room hotel in Napa, California, expected to open in 2019. Also: Choice signed an agreement with Rondell Oasis LLC, which is managed by Malibu, California-based Weintraub Real Estate Group, to develop a new Cambria in Calabasas, California, also expected to open in 2019.