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News in brief: IHG, Hyatt, Middle East pipeline

IHG to open Maldives resort: IHG signed a management agreement with Hotel Properties Limited to open a new InterContinental resort on the island of Maamunagau in the Maldives. The 83-room InterContinental Maldives Maamunagau Resort will mark the brand’s debut in the Maldives. 

Read more at IHG’s website

 


Hyatt Regency Birmingham sold: Hyatt Hotels Corp. sold the Hyatt Regency Birmingham in the U.K. for £38.6 million (US$50.1 million) to an affiliate of Bin Otaiba Investment Group. The 319-room hotel will retain its Hyatt Regency branding and the buyer is expected to invest an additional £2.7 million (US$3.5 million) in capital expenditure to improve the property over the next three years.

Read more at The Caterer

 


Hyatt Place Princeton acquired: The Landis Group announced the off-market acquisition of Hyatt Place, a 122-key hotel located in Princeton, New Jersey.

 


Middle East top cities, franchises, brands: According to Lodging Econometrics, the three cities with the largest pipelines are: Dubai with 110 projects/31,155 rooms, Riyadh, Saudi Arabia with 56 projects/11,866 rooms, and Doha, Qatar, with 44 projects/9,554 rooms. The leading franchise companies in the region’s pipeline are Hilton Worldwide with 75 projects/22,708 rooms, Starwood Hotels & Resorts with 49 projects/14,249 rooms and Marriott International with 43 projects/10,513 rooms. The leading brand for each of the Middle East’s top three franchise companies are: Hilton Hotels with 30 projects/11,452 rooms, Starwood’s Aloft Hotels with 15 projects/3,180 rooms and Courtyard by Marriott with 12 projects/2,787 rooms.

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