Ritz-Carlton adds to Florida portfolio: The Ritz-Carlton will assume management of One Bal Harbour Resort & Spa October 2. The 124-room resort will become The Ritz-Carlton Bal Harbour, Miami, marking the 10th property in the hotel company’s Florida portfolio.
Read more at Marriott’s website
Minor grows Mozambique presence: Minor Hotel Group has invested approximately US$101 million to acquire 49% of a hotel and mixed-use property project in Maputo in a joint venture with Rani Investment. The development consists of the existing 154-key Radisson Blu Hotel together with a 187-key residential tower and a 21-story office tower, both of which are under construction.
Far East invests in Sentosa hotel project: Far East Hospitality Trust will take a 30% stake in a S$443.8 million (US$349.5 million) hotel project being developed by its parent organization on the resort island of Sentosa. Plans call for the construction of two hotels that will together have 850 rooms.
Stonehill forms hotel fund: Stonehill Strategic Capital, an affiliate of Peachtree Hotel Group II, announced the first closing of Stonehill Strategic Hotel Credit Opportunity Fund, with initial equity commitments to purchase approximately US$50 million of interests. The fund will use the proceeds from its offering to provide permanent mortgages, bridge loans, mezzanine debt, preferred equity and discount note purchases with a target of acquiring or originating up to US$300 million of hotel financing.
NH Collection announces Marseille hotel: NH Hotel Group signed an agreement with ATEMI for the development of the 176-room NH Collection Marseille that is expected to open in 2017.
Amoma teams with TripAdvisor: Amoma.com announced a partnership with TripAdvisor to add hotel inventory to the TripAdvisor Instant Booking feature. The new feature, which is currently available to U.S. travelers on the TripAdvisor app and mobile website, allows users to make a hotel booking through TripAdvisor booking partners without leaving the TripAdvisor site.
Transcorp plans IPO: The board of directors of Transcorp Hotels Plc approved the company’s plans for an initial public offering on the Nigerian Stock Exchange. The company is expected to raise N8 billion (US$49 million) at the close of the offer.
One Shot to add Valencia hotel: The former Husa Hotel Llar in Valencia, Spain, will be converted to the One Shot Hotels brand in the first half of 2015.