Hilton strengthens presence in Japan: Hilton Worldwide signed a management agreement with Tokyo Humana Enterprise to rebrand Hotel Nikko Tokyo and manage the hotel as Hilton Tokyo Odaiba. The hotel will be converted and unveiled as a new Hilton hotel on October 1.
New management at Milwaukee Sheraton: Hostmark Hospitality Group has assumed management of the Sheraton Milwaukee Brookfield. The hotel is Hostmark’s fifth Wisconsin property.
Read more at Hostmark’s website
Offshore investors pour capital into New York hotels: According to JLL, offshore investors spent US$1.9 billion on New York hotel transactions in 2014, accounting for 50% of total transactions in the city. In 2015, JLL expects transaction volumes in New York tied to offshore capital to reach US$3 billion. Additionally, the Chinese could account for US$5 billion worth of global hotel sales in 2015.
Palm Beach Hampton Inn sold: Arc Hospitality purchased the Hampton Inn in Palm Beach Gardens, Florida, for US$20.68 million.
Read more at the South Florida Business Journal