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Briefs: Sunrider’s US$907M sale | LVMH closing in

Sunrider sells Taipei hotel for US$907M: Torrance, California-based Sunrider International has sold one of Taipei’s largest hotels for US$907 million. The Sunworld Dynasty Hotel was sold to Fubon Life Insurance, which has leased the property back to Sunrider.

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LVMH closing in: LVMH, owner of the Belmond hotel brand and assets, is reportedly close to acquiring the 147-room Hotel Quisisana on the island of Capri in Italy for US$245 million (approximately US$1.67 million per key), according to the newspaper Il Sole 24 Ore.

Wyndham’s new umbrella: Wyndham has launched a new umbrella business, Panorama, which will serve as the parent-brand for RCI and the portfolio of exchange and other membership travel groups. The new Panorama portfolio will include vacation exchange network, RCI, along with membership-based travel businesses 7Across (formerly known as DAE), Love Home Swap, The Registry Collection, and Alliance Reservations Network (ARN). Panorama is also launching a travel club product powered by ARN that can be custom-branded or co-branded and marketed to new membership organization customers not currently in the company’s base.

Ascott sells these two for over US$138M: Singapore-based Ascott Residence Trust has entered into two conditional agreements to divest Ascott Guangzhou in China and Citadines Didot Montparnasse Paris in France to two unrelated third parties respectively, for a total of about S$191.4 million (US$138 million). For Ascott Guangzhou in China, the divestment price of S$155 million (US$112 million) is about 52% above the property’s book value and about 81.0% higher than the acquisition price in 2012. For Citadines Didot Montparnasse Paris in France, the divestment price of S$36.4 million (US$26 million) is about 69% above the property’s book value and about 60.4% higher than the acquisition price in 2010.

Will 400 Travelodges become Ibis? Hundreds of Travelodge hotels could be rebranded as Ibis hotels as the chain’s landlords seek better terms. The landlords could switch to a new operator due to a break clause in leases that was negotiated with Travelodge’s hedge fund owners last month as part of a company voluntary arrangement that cut the chain’s rent. A string of hotel brands, including Accor, Marriott, Intercontinental, Hilton and Jurys Inn, have been circling Travelodge since the coronavirus outbreak in the hope of snapping up its sites. The Travelodge Owners Action Group, which claims to represent more than 400 Travelodges, said that Accor, of France, had been selected as the preferred brand partner.

More from The Times

The Tripadvisor faves: Tripadvisor has announced its Travelers’ Choice Best of the Best Awards, honoring travelers’ favorite hotels in the U.S. and around the world, according to data from its site. Winners were calculated based on the millions of traveler reviews, opinions and ratings collected in 2019 on Tripadvisor, prior to the pandemic.

Read more to see the winners

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