Wego, the largest online travel marketplace in the Middle East and North Africa (MENA) acquired Travelstop, a platform that simplifies business travel and expense management for companies globally. This strategic move will expand Wego's reach into business travel and expense management.
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The five-year, fixed-rate loan is non-recourse and was funded by a Wall Street investment bank. The loan is interest-only for the entire term at an interest rate of 7.6%. A rate buydown was required by the lender to achieve this rate and proceeds.
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Anchoring the development will be a new 400-room Royal Sonesta and 320-room The James, two of Soneta's top luxury brands.
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Rotana announced today its entry into Senegal with Les Zeniths Arjaan by Rotana. The 150-key property in Dakar will be launched under the Arjaan Hotel Apartments by Rotana brand and is expected to be completed by 2026.
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Waterton, a Chicago-based national real estate investor and operator, announced the official launch of its new Outbound Hotels brand, a collection of locally-minded hotels offering differentiated lodging options for lifestyle travelers seeking outdoor-inspired experiences.
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Crawford Hoying announced the acquisition of Homewood Suites by Hilton Columbus OSU in partnership with Shaner Hotel Group. This is the fourteenth hotel within Crawford Hoying’s portfolio, which now includes more than 1,800 hotel keys.
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The Blakely by LuxUrban, Trademark Collection by Wyndham is a 117-room, English-style boutique hotel located just north of Times Square providing easy access to popular New York City attractions such as Central Park, Carnegie Hall, Radio City Music Hall, and the Museum of Modern Art.
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Pebblebrook Hotel Trust (NYSE: PEB) today announced that on September 7, 2023, it successfully refinanced its mortgage loan on the 369-room Margaritaville Hollywood Beach Resort in Hollywood, Florida.
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Chain is Set to Open 10 New Restaurants in the Empire and Garden States
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Yesterday, Hilton (NYSE: HLT) hosted over 80 hotel developers and owners from Australia and New Zealand, as it introduced a new regional room prototype for its upscale focused service brand, Hilton Garden Inn.
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