Bauer restructures debt: Bauer spa, owner of the Bauer Hotel in Venice, announced a debt restructuring of €110 million (US$159.5 million) with Blue Skye Investment Group, which also is investing €20 million (US$29.0 million) in the company.
Read the story on Italy’s BeBeez.it
Okura in Phnom Penh: Hotel Okura Co. Ltd. signed an agreement with TEHO Development Cambodia Pte Ltd. to develop and manage The Okura Prestige Phnom Penh, a 40-story, 250-room hotel set to open in 2019. The hotel will be part of The Bay, a residential and commercial complex being built between the Tonle Sap and Mekong Rivers on the Chroy Changvar Peninsula.
BusinessWire has the press release
Four Points in Ethiopia: Starwood Hotels & Resorts Worldwide will open the Four Points by Sheraton Addis Ababa in 2019. The 450-room property will be developed by Alemgenet Trade & Industries PLC of Ethiopia.
Elegant buys Waves: Elegant Hotels Group acquired Waves Hotel & Spa, a 70-room all-inclusive resort, on the island of Barbados for US$18 million. The property will undergo a renovation and reopen in July as Waves by Elegant Hotels.
Read the story in the Telegraph
Principal Hayley purchase in Liverpool: Principal Hayley Group bought the Martins Bank building in Liverpool and plans to convert it into a 227-room hotel and spa. Principal operates 48 hotels in the U.K. The company plans a broader, £100 million (US$145 million) “strategic repositioning” of its properties this year.
Deep Water Cay to expand: The Deep Water Cay resort community in the Bahamas is planning a US$168 million expansion, with Six Senses as operator of a mixed-use project that will include hotel rooms, residences and a spa and fitness center.
Read the story at Caribbean Journal
Developing in Dubai: Dubai-based developer Deyaar Development plans to have five hospitality projects in the emirate by year-end 2018. The developer also signed a memorandum of agreement with Millennium Copthorne to operate a hotel in The Atria, a residential and hotel tower.
Read the story at Construction Week Online