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News in brief: Accor, Fairmont, Airbnb

Accor revenue down in Q1:  Accor reported that its pro forma revenue declined 5% year-on-year in the first quarter of 2014, although it gained 2.1% on a like-for-like basis.

Download a PDF of the full earnings statement from Accor

 


Fairmont to expand in China:  FRHI Hotels & Resorts will open the 146-unit Fairmont Residences Nanjing in January 2015.

Read more at Yahoo Finance

 


Airbnb closes investment deal as NYC criticism mounts:  Airbnb closed a US$450 million investment deal from a group lead by TPG Capital as the Real Affordability for All Coalition criticizes the hospitality exchange network for contributing to New York City’s lack of affordable housing.

Click to read more about the investment at The Wall Street Journal and the criticism at New York Daily News

 


Leela ‘in talks’ to sell 2 hotels:  Hotel Leelaventure is reportedly in talks with sovereign wealth funds to sell stakes in a hotel property in Delhi and Chennai.

Read more at The Hindu Business Line

 


Deutsche Bank ‘in talks’ to sell Las Vegas casino-resort:  Deutsche Bank is reportedly in talks to sell the 2,995-room The Cosmopolitan of Las Vegas.

Read more at Bloomberg Businessweek

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