Cancun resort acquired: Mexico’s FibraHotel will acquire the Fiesta Americana Condesa Cancun resort in Mexico for Ps. 2,892 million (US$162.9 million) in a sale and leaseback transaction with Grupo Posadas. The transaction is expected to close early next year, and about Ps. 120 million (US$6.8 million) will go to renovating the 507-room hotel’s public areas.
Westin conversion: Mauna Kea Resort LLC signed a franchise agreement with Westin Hotels & Resorts to convert the Hapuna Beach Prince Hotel to The Westin Hapuna Beach Resort early next year. The hotel will remain part of Prince Resorts Hawaii.
Time-share scam: The Manhattan Club in New York City will page US$6.5 million to customers who bought time shares at the hotel but couldn’t use them they’d been rented out.
Read the story in the New York Post
Switching out hostel: Chicago hotel The Robey, owned by Grupo Habita, is switching out its Hollander hostel space for what it calls 20 multi-bed rooms that will be fully private, partly due to demand for regular rooms, the hotel says. The area will be renamed The Robey Hall.
IHG in Dubai: IHG signed two properties in Dubai – the Crowne Plaza Dubai Business Bay and InterContinental Residence Suites Dubai Business Bay – in partnership with API Hotels & Resorts. The 290-room hotel is expected to open in 2019.
Read more in Hotelier Middle East