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News in brief: Jin Jiang, Morgans, Airbnb

Jin Jiang raises Accor stakes: Shanghai Jin Jiang International Hotels increased its holdings in AccorHotels to 5.5%, becoming its second-largest shareholder.

Read more at Reuters

 


Activist aims at Morgans: Activist shareholder Gregory Cohen told Morgans Hotel Group’s board that he was having “serious concerns” about the company’s direction. Cohen owns a little less than 5% Morgans’ common stock. The move could kick off a proxy fight.

The Real Deal has more

 


Airbnb at US$2.4 billion: CBRE Hotels’ Americas Research says users of Airbnb spent US$2.4 billion from October 2014 to September 2015, with more than 55% of that total spent in New York, Los Angeles, San Francisco, Miami and Boston. The firms says New York has the highest risk of financial impact from the lodging rental site.

Read CBRE’s report here

 


Nick no more: The Nick Hotel in Orlando, Florida, will become the Holiday Inn Resort Orlando Suites—Waterpark in mid-April. Launched in 2005 as the first Nick Hotel, the property will undergo a US$30 million rebranding.

 


Archer in New Jersey: The Rockefeller Group and LodgeWorks Partners will develop a 161-room Archer Hotel at the Green at Florham Park, a master-planned development in New Jersey.

 


Phoenix sells Sheraton: The city of Phoenix, Arizona, is selling the 1,000-room Sheraton Grand Phoenix Hotel to TLG Phoenix LLC, an arm of Thayer Lodging Group of Maryland, for US$300 million. Thayer also owns The Ritz-Carlton in San Francisco, Hotel 1000 in Seattle and the San Diego Marriott Del Mar.

 


Priceline.com on Facebook: Travel booking site Priceline.com introduces an advertising campaign Tuesday on Facebook to emphasize a change in strategy toward personalization and speed. The mobile video campaign uses video of people learning of their friends’ life moments through status updates.

 


Starwood going cage-free: Starwood Hotels & Resorts announced plans to source all eggs across its supply chain from cage-free chickens by 2020. The hotel company has 1,270 properties worldwide.

Read more at Starwood’s website

 


Marriott in Atlanta: A 128-room Residence Inn in Atlanta’s Perimeter business district owned is expected to be complete in early 2017. Atlanta-based Hotel Development Partners is the owner and developer; the Shopping Center Group is leasing the site.

 


Crestline buys Kentucky hotels: Hospitality management company Crestline Hotels & Resorts’ portfolio now totals 104 with the addition of four hotels in Kentucky: two Courtyard, a Residence Inn and a SpringHill Suites.

 


Compass to manage Hawkwell: Bangkok, Thailand-based Compass Hospitality Group signed an agreement to manage the Hawkwell House Hotel in Oxford, U.K. The 77-room hotel is the seventh U.K. hotel to be managed by Compass.

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