Loews announces first OE hotel: Ink Entertainment announced a strategic partnership with Loews Hotels & Resorts to launch the first hotel of OE Collection. Bisha Hotel and Residences in Toronto is set to open in 2016 as part of the collection.
Wyndham declares cash dividend: Wyndham Worldwide Corp.’s board of directors declared a cash dividend of US$0.42 per share on its common stock payable June 12 to shareholders of record as of May 29.
Potential ITDC hotel disinvestment: India’s National Democratic Alliance Government has embarked on a strategic disinvestment plan to offload the liabilities of loss-making hotels owned by India Tourism Development Corporation (ITDC) and save them from eventual shutdown.
Read more at The Indian Express
Nik Patel hotels to be auctioned: Nik Patel’s five hotels — the DoubleTree Sheraton in Orlando, the former Sheraton in Orlando, the Crowne Plaza in Orlando, a 128-room full-service hotel in Saddle Brook, New Jersey, and a 272-room full-service hotel in Peoria, Illinois — are about to auctioned off. Patel was arrested last October on federal charges of fraudulently selling US$150 million in loans to Pennant Management.
Read more at the Orlando Sentinel
Fën Hotels to manage Bonaventure Resort & Spa: Fën Hotels was selected by Hospitality Investing Group to manage the 500-room Bonaventure Resort & Spa in Weston, Florida.