Strategic hires J.P. Morgan: Strategic Hotels & Resorts hired J.P. Morgan to explore strategic alternatives, including a sale. The company has a market capitalization of about US$3.8 billion.
IHG grows in Thailand: IHG will open a Holiday Inn Express in Krabi, Thailand. The 222-room Holiday Inn Express Krabi Ao Nang Beach is scheduled to open in 2017.
Hedge funds add pressure on Starwood: Hedge funds have increased their interest in Starwood Hotels & Resorts, reportedly raising pressure to split or sell itself.
Read more at the Financial Times
Starwood expands in LA: Starwood Hotels & Resorts and Shenzhen Hazens Real Estate Group Co. Ltd. will open W Los Angeles Downtown in early 2019. The hotel will join W Los Angeles – West Beverly Hills and W Hollywood as the brand’s third hotel in the metropolis.
Read more at Starwood’s website
Soneva to develop in Oman: Soneva Group will open a seven-star resort in Oman. Work will begin in 2017 and construction time is expected to be between 12 to 18 months. The resort will consist of 40 villas.
Margaritaville to add Orlando resort: Margaritaville Holdings and Encore Capital Management will develop a 300-acre (121.4-hectare) Margaritaville Resort in Orlando, Florida. The property will be Margaritaville’s first resort in the Orlando market and is scheduled to open in Q1 2017.
Sahara Group denies sale: Despite earlier reports detailing interested buyers, Sahara Group told India’s Supreme Court that it is not selling the Grosvenor House Hotel in London, the New York Plaza and Dream New York.
Aqua-Aston unveils new name, branding: Aqua Hospitality and Aston Hotels & Resorts will operate under the Aqua-Aston Hospitality banner. The group’s five brands include: Aston Hotels & Resorts, Aqua Hotels & Resorts, Lite Hotels, Instinct Hotel Collection and Maui Condo & Home.