Accor announced it is acquiring, for 69 million euros, the Amorim Group's 50% stake in the joint venture the two companies created in 1997 to develop and operate hotels in Portugal.
Pan Pacific Hotels and Resorts Geared For Growth As Part Of UOL Group
Starwood Hotels & Resorts Worldwide, Inc.(R) (NYSE:HOT) announced today the groundbreaking of its first aloft hotel in Canada, aloft Montreal Airport.
Hersha Hospitality Trust (AMEX: HT), owner of nationally franchised premium full service and limited service hotels, today announced several transactions in the metro New York City market. On June 1, the Company finalized the acquisition of the newly opened 70-room Hotel 373, located at 373 Fifth Avenue at 35th Street, in midtown Manhattan for $28.0 million.
It will cost a lot for either side to walk away from Blackstone Group's (BX) acquisition of Hilton Hotels (HLT), which will marry one of the most successful names in private equity with one of the most widely recognized brands in the hospitality world.
Hilton Hotels Corporation to Be Acquired by Blackstone Investment Funds
19-Acre Development Will Feature Luxury Suites, Spa, Restaurants and Private Yacht Harbor
Brand Will Debut in Wailea, Hawaii with Locations to Follow in the United States, the Caribbean, Europe and the Far East
Hyatt Regency Islandia Transformed into Hyatt Regency Mission Bay Spa & Marina, Opening Scheduled for Fall 2007
Marriott to Operate 21 Hotels, Representing 6 Brands, Totaling 5,524 Rooms in India