Summit Hotel Properties, Inc. (NYSE: INN) announced that it completed the acquisition of the 120-guestroom Embassy Suites by Hilton Tucson / Paloma Village for $25.5 million through its joint venture with GIC on December 21, 2021.
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Swiss-Belhotel International Indonesia recently sealed a management agreement of Swiss-Belhotel Airport, Yogyakarta with PT Adhiraka Graha Sejahtera. The official signing was held in Jakarta on December 16, 2021. Scheduled to be opened in 2022, the 4-star hotel project is planned to have 167 rooms.
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With a location at the heart of Jeddah’s Obhur Bay on the Red Sea, Rixos Obhur Jeddah will feature a private beach and 247 residential units, including 174 rooms and 73 villas with a Club Prive lounge, a main fine-dining restaurant, a Lounge bar, and two specialty beach restaurants.
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IHG Hotels & Resorts and Siam Sindhorn Co., Limited announced the first Vignette Collection hotel to open in Asia within the city of Bangkok. Sindhorn Midtown will join IHG's brand in March 2022.
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Koibito Pok announced today that it has signed a franchise sales agreement with True Capital Partners LLC, which has committed to sell a minimum of 300 locations in eight states over the next five years.
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While financing will be marginally better for hotel construction in 2022 than in 2021 and 2020, building new hotels is still not an easy proposition. Chief among the concerns for hotel developers are the costs and lack of availability for both contractors and building materials.
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Originally built in 1963, The Shire Woodstock pays homage to the town’s namesake, with the property offering a year-round retreat on the banks of the Ottauquechee River with waterfront views from each oversized guestroom.
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Master Franchise and Development Agreement with a subsidiary of South Korean Silla Group to open hundreds of restaurants in the coming years
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The most significant evolution in its 95-year history includes the relaunch of Cloister, the original storied hotel that serves as the heart of Harborside
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Big changes witnessed during the past year provide a sign of what’s to come
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