Centara signs three: Bangkok-based Centara Hotels & Resorts has signed management agreements for one resort in Khao Yai, Thailand, and two resorts in Vang Vieng, Laos, adding 304 keys to Centara’s group portfolio. In Laos, Centra by Centara Riverside Resort Vang Vieng (formerly Thavisouk Island Hotel) and Thavisouk Riverside Resort & Spa Vang Vieng, Centara Boutique Collection (formerly Thavisouk Riverside Hotel) are located on the opposite sides of the Nam Song River, connected by a private bridge linking the two properties. The two rebranded riverside properties are expected to open in Q4, 2021 following significant renovation.
Royale Chulan hotel sold at reduced price: The Boustead-owned Royale Chulan Bukit Bintang Hotel in Kuala Lumpur has been sold to Singapore-listed Hotel Royal for a reduced price of RM177.3 million (US$44 million). Hotel Royal said the purchase price had been revised and was reduced by 10% from the original price of RM197 million (US$49 million). Hotel Royal chairman Pang Eng Fong said the agreement on the new revised priced was reached at on a willing buyer and willing seller basis after arm’s length negotiations and “after taking into account the prevailing market conditions and the market value of the hotel.”
Loews cancels fundraiser for senator in hot water: Loews Hotels canceled a planned fundraiser at its Portofino Bay Hotel at Universal Orlando, Florida, for U.S. Sen. Josh Hawley of Missouri, who spearheaded the objections to President-elect Joe Biden’s win in Congress. Hawley was also shown in a photo raising his fist in solidarity with pro-Trump protesters on Capitol Hill prior to the violent assault on the Capitol building. “We are horrified and opposed to the events at the Capitol and all who supported and incited the actions,” Loews said in a statement on Twitter. “In light of those events and for the safety of our guests and team members, we have informed the host of the February fundraiser that it will no longer be held at Loews Hotels.”
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ActivumSG fund squires Odyssey hotel group: A fund established by Berlin-based ActivumSG Capital Management, which focuses on turnaround and special opportunity investments in real estate, acquired hotel operator Odyssey Hotel Group, based in Breda, the Netherlands. The investment will support the Odyssey platform’s expansion while benefiting from the recovery ActivumSG anticipates for select parts of the hospitality sector in Europe as the COVID-19 pandemic recedes. The purchase, details of which are not being disclosed, is the second corporate acquisition by ActivumSG Real Estate Fund VI after that of Dutch residential developer VanWonen, almost a year ago. It also follows the purchase of the luxury Nobu Hotel in Barcelona in December 31.