Rotana has signed new management agreements with Al Marasem Development and Marina Way Lagoon. The agreement includes the management of two new properties – Lake Residence, serviced apartments in New Cairo which will also mark Rotana’s debut in the capital city and Marina Bay, Hotel Apartments in Alamein, North Coast.
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Former Players Such as Anbang, HNA Have Left the Table
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Accor shared a summary of its 2021 development activities and growth outlook for 2022 and beyond. Overall, Accor opened 288 hotels and resorts and 41,000 rooms in 2021.
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Edward P. Walsh to serve as Board President 2022-23
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The total consideration for the acquisition was approximately $193 million ($1.8 million per key, inclusive of the residential units in the rental program).
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Indian Hotels Company (IHCL) oday announced the signing of a Vivanta hotel in Nashik. Located near Dwarka Circle, the hotel, part of a mixed-use development, is a management contract with Deepak Builders and Developers.
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New Fuddruckers Locations to Open at Brookfield Properties
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As well as continuing to open more hotels in Paris, Hilton is increasing its focus on major resort destinations and provincial towns and cities with a development pipeline that will double the hotel group’s presence nationwide.
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Investors continue to hunt for hotels to convert to other real estate asset classes, especially full-service and extended-stay properties, but competition for deals and the recovery will limit the feasibility of these projects.
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Four Seasons Hotels and Resorts and Diriyah Gate Development Authority (DGDA), the developers of the Diriyah master plan, announce plans for Four Seasons Hotel Diriyah, Saudi Arabia.
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