Scandic replaces president: Stockholm-based Scandic Hotels Group AB appointed Jens Mathiesen to replace Even Frydenberg as president and CEO. Jens Mathiesen is a member of Scandic’s executive committee and has been country managing director Scandic Denmark since 2008. “The board of directors has arrived at the conclusion that Scandic needs new leadership, so it’s natural for us to part ways. I want to emphasize that this is a leadership matter and not due to the financial performance of the company, and that Scandic’s strategic direction stands firm. The Board of Directors are most grateful to Even Frydenberg for his contribution to the company,” board Chairman Per Braathen said in a statement. Frydenberg joined Scandic from Starwood and Marriott in July 2017, replacing Frank Fiskers.
Blackstone’s behemoth: Blackstone Group LP has raised the largest real estate fund to date – US$20 billion, with buying power estimated at US$60 billion – a number that is more than double any fund ever raised by a competitor, according to the Wall Street Journal. The fund closes in Q1 2019 and will seek purchases of real estate in office towers, hotels and shopping centers around the world.
China Days Inn franchise: Wyndham Hotels & Resorts reacquired exclusive direct franchising rights for its Days Inn brand for China. The portfolio in China includes more than 70 economy, midscale and upscale hotels totaling more than 12,500 rooms. Wyndham and its master licensee for the Days Inn system in China terminated their master license agreement. The move “aligns with Wyndham Hotels’ strategy to grow its direct-franchising operations in emerging markets,” said the company, which has more than 1,400 properties in its franchised system in China.
Kenya hotel siege ends: Kenyan security forces killed all five members of an al Qaeda-affiliated group that scaled the DusitD2 hotel compound in Nairobi that began on Tuesday. At least 21 people were killed, but the death toll is expected to be higher. The group said it carried out the attack in response to U.S. President Donald Trump’s decision to recognize Jerusalem as the capital of Israel.