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Briefs: Dusit sells 23% stake | Auberge grows in Hawaii

New investor for Dusit. Thailand-based retail developer Central Pattana Public Co. Ltd. has acquired a 22.93% stake in Bangkok-based hotel company Dusit Thani Group for US$67.2 million. With 194.9 million shares, the deal makes Central the second-largest shareholder in Dusit Thani after local private equity investor, Chanut & Children, who remains the operator of Dusit Thani’s business with a 49.74% stake. CPN has stated that the deal is a long-term investment and it is not involved in any business management at Dusit Thani.

 


Auberge to Big Island. Auberge Resorts Collection, Mill Valley, California, is taking over management of the Mauna Lani Bay Hotel & Bungalows on the Big Island of Hawaii. The resort will undergo an extensive redesign and revitalization and will be reborn as Mauna Lani, Auberge Resorts Collection. The development and ownership team is DiamondHead Land, a joint venture between San Francisco- based ProspectHill Group and Hawaii-based hotel executive Pat Fitzgerald, in partnership with a major institutional investor. With plans already underway, the re-launch and re-opening of Mauna Lani is planned for late 2019.

 


Doubletree grows in U.K. Two of QHotels’ nine golf resorts in the UK will be rebranded as DoubleTree by Hilton as part a franchise agreement between the group’s owner Aprirose and Hilton. The hotels will continue to be managed by RBH – formerly Redefine BDL Hotels – and will be known as DoubleTree by Hilton Forest Pines Hotel & Golf Resort, in north Lincolnshire, and DoubleTree by Hilton Glasgow Westerwood Hotel & Golf Resort. Three further QHotels properties are included in the deal.

Read more on the DoubleTree deal

 


Buxani deals in U.K. Singapore-based private investment group Buxani Group has completed the acquisition of the 117-key GoGlasgow Urban Hotel from Scotland-based Crerar Hotel Group for approximately £10 million. The GoGlasgow Urban Hotel was redeveloped by Crerar in 2015. Post-acquisition, the property will be managed by Thailand-based Compass Hospitality. GoGlasgow Urban Hotel is the first of a series of hotel investments that Buxani has targeted for the UK hotel market.

 


Park Inn to Zambia. Radisson Hospitality AB, part of Radisson Hotel Group, has signed a deal with Public Service Pension Fund to manage the 136-room Park Inn by Radisson Lusaka Longacres in Zambia. The hotel is set to open in 2020 and gives the Radisson Hotel Group’s Africa portfolio 83 hotels and more than 17,500 rooms in operation and under development.

 


Hyatt enters Greece. Hyatt Hotels Corp. has entered into a franchise agreement with both Henderson Park and Hines for the first Grand Hyatt hotel in Greece, the 310-room Grand Hyatt Athens. The opening is expected in Q3 2018 and will be managed by Kokari Ltd.

 


Concord goes downtown. Concord Hospitality will manage the AC Hotel New York Downtown in the Financial District opening in summer 2018. Construction is underway at the 274-room hotel under the direction of the development led by LCRE.

 


Developer saves LA landmark. Downtown Los Angeles’ landmark Barclay Hotel, most recently a low-income residential hotel, has sold after two years on the market to Golden Hills Properties, a company owned by Michael Delijani. The 165-room property on the edge of the Historic Core and Skid Row traded hands for US$21 million—about half of its $40 million asking price, The Real Deal reports.

Read the Real Deal story

 


5 extended-stays trade. A Columbus, Ohio-based hotel is part of a five-hotel deal for a Canadian real estate trust. The 121-room HomeTowne Studios has been sold by Westmont Hospitality Group to Ontario-based R&R Real Estate Investment Trust in a US$31.5 million deal for five economy extended-stay hotels (665 rooms total) in major markets on the East Coast. It’s set to be completed in the third quarter. Once the deal is done, R&R Real Estate will have 15 hotel properties with 1,808 rooms.

 


Trump to Adelaide to St. Regis. The former Trump Toronto, managed by Marriott as the Adelaide after owners bought out Trump International’s management contract in 2017, will be rebranded a St. Regis – the first of the brand in Canada – later this year after a redesign of the lobby, bar, restaurants and suites.

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