Sheraton to be renovated: The Sheraton Downtown Los Angeles will undergo a US$45 million renovation from the Ratkovich Company in partnership with National Real Estate Advisors. The remodel will be completed in 2015 and include all of the hotel’s 496 guestrooms and suites, lobby, ballroom, meeting rooms and outdoor spaces. The hotel’s restaurant menu and space will also be redesigned.
Radisson expands in Dallas: Radisson signed the Radisson Hotel Dallas North-Addison. The hotel will open in 2015 and include a fitness center, outdoor swimming pool and meeting rooms.
R Hotels to invest in Palm Jumeirah: R Hotels announced a Dh500 million (US$136 million) investment in a Palm Jumeriah hotel and resort in Dubai. The property is scheduled to open in 2016.
Kwok speaks about Hong Kong protests: Thomas Kwok says that Hong Kong’s pro-democracy protests have hurt revenue at Sun Hung Kai Properties. The Ritz-Carlton’s revenue was about 10% below expectations for September and October, and the firm’s other hotel revenue was down from 5% to 10%.
Union Station Hotel to be sold: Union Station hotel in Nashville is under contract to be sold to a Bethesda, Maryland-based real estate trust.
Hospitality Management Holdings signs Saudi Hotel: Hospitality Management Holdings entered into a management agreement with Mobarak Hotels Group to begin operating Coral Al Madina Hotel in Saudi Arabia in 2015.
Provenance partners with Zipcar and Tesla: Provenance Hotels has partnered with Zipcar and Tesla to provide guests eco-friendly transportation options in Portland, Oregon, Seattle and Tacoma, Washington.
Salford hotel sold: BP Pension Fund purchased the Ibis Budget hotel in Salford, England for £12 million (US$19 million).
New Management at Bahamas resort: Horizon Hotel Group LLC has assumed management for the Bimini Big Game Resort & Marina.