The first phase of development is valued at circa USD 200 million and includes luxury hotel The Vale Rusutsu and a bespoke onsen and spa facility. Additional phases scheduled for release in 2018 will include new retail and entertainment developments and further hotel facilities, estimated at circa USD 500 million.
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The acquisition values Bento at CAN $100 million and has been facilitated by Mayfair Equity Partners, who partnered with the YO! management team as part of a management buyout in 2015.
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NOVUM has partnered up with Commerz Real, as the proprietor, as well as GOLD.STEIN real estate M+E GmbH & Co.KG, as the project developer, for this project. The purchase was structured by Commerz Real as an asset deal in the form of a forward funding project.
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The renovation will include the complete redesign of the resort’s guestrooms, Beach Club, Golf Clubhouse and Sense, A Rosewood Spa, as well as enhanced meeting space and new food and beverage outlets and concepts. The property will reopen in April 2018.
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Two management agreements have been signed with two affiliates of BRG Group for a DoubleTree by Hilton hotel in Vung Tau, a key city in southern Vietnam and a Hilton Garden Inn hotel in Ho Chi Minh City respectively.
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The Cambria Charleston Riverview, a 126-room hotel is located at 84 Ripley Point Dr. on the Ashley River, and is slated to open early in 2019 and will be built by Freese Johnson Contractors of Atlanta.
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Burger Brand Enters New Territory in the Mountain West Through Franchise Partner Fatty McGees LLC
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Cleanup is expected to take approximately three months, laying groundwork for a 1,010 –room luxury convention center hotel serving the adjacent Georgia World Congress Center. Ground breaking is scheduled for early 2019.
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Wyndham Hotel Group today announced the signing of the largest hotel development in the Brickell district of Miami to its managed hotel portfolio: a new 445-room, dual-branded hotel featuring the Wyndham Grand and TRYP by Wyndham brands.
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As a result of the transaction, Caesars will add Hoosier Park Racing and Casino in Anderson, Indiana, and the Indiana Grand Racing and Casino in Shelbyville, Indiana to its Total Rewards network.
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