Fortress Investment Group raised its bid on Friday for Japanese hotel operator Unizo Holdings by 2.5% but the offer remains well below both the current share price and an offer from a rival suitor. SoftBank Group-owned...
China’s Huazhu to buy German luxury hotel group Steigenberger
China’s Huazhu Group is buying the Steigenberger hotels as it seeks to extend its global reach with the addition of one of Germany’s most well-known upmarket chains. Huazhu, already the world’s fifth-largest hotel group...
Lemon Tree Hotels acquires Berggruen Hotels and the brand ‘Keys Hotels’
Lemon Tree Hotels acquired Berggruen Hotels in November 2019 taking its total inventory to 7,800 rooms in 77 hotels across 45 destinations, making it India’s largest hotel chain in the mid-priced hotel sector. Keys...
Blackstone ready to hold more talks with Japan bid target Unizo
Blackstone said on Thursday that Japanese hotel operator Unizo had missed a deadline to agree with conditions set for its proposed $1.6 billion takeover bid, but the U.S. buyout group was prepared to embark on more...
China’s Huazhu to buy German luxury hotel group Steigenberger
China’s Huazhu Group is buying the Steigenberger hotels as it seeks to extend its global reach with the addition of one of Germany’s most well-known upmarket chains. Huazhu, already the world’s fifth-largest hotel group...
Hotel Leelaventure completes sale of assets to Brookfield
Hospitality firm Hotel Leelaventure Ltd on Tuesday said it has completed sale of its hotel properties and operations to Canada-based Brookfield Asset Management Inc. The Rs3,950 crore deal also marks the entry of...
Chalet Hotels may buy out Accor’s Novotel in Pune for Rs 290 crore
Chalet Hotels, the Indian owner of Marriott-operated hotels, is all set to buy out Accor Hotel’s Novotel Hotels in Pune, according to people aware of the deal. Valued at an estimated Rs 290 crore, the buyout is...
Japan’s Unizo rejects bids from local fund, Blackstone
Japanese hotel chain Unizo Holdings said on Thursday it had rejected buyout proposals from a “locally renowned” fund as well as U.S. private equity firm Blackstone Group, adding to a list of spurned suitors. The...
SAT ends Leela over asset deal with Brookfield, for Now
The Securities Appellate Tribunal (SAT) on Thursday rejected ITC’s challenge to the sale of Hotel Leelaventure’s properties to Brookfield Asset Management, in an order that takes the Canadian infrastructure and real...
Premier Inn owner Whitbread buys three hotels in German expansion
Britain’s Whitbread Plc said on Monday it bought three independent hotels in Germany for an undisclosed sum, as the company expands in Europe as part of its focus on the hotel business following the sale of its Costa...
Blackstone to buy five hotels in Greek islands
Blackstone Real Estate Partners Europe, a unit of U.S. private equity firm Blackstone Group, agreed to buy five hotels in Greece from Louis Group in a deal valued at 178.6 million euros ($197 million), the firm said on...
Consortium led by South Korea’s Mirae Asset to buy 15 U.S. hotels from China’s Anbang
A consortium led by South Korea’s Mirae Asset Global Investments said on Wednesday it agreed to buy 15 hotels in the United States from Chinese troubled insurer Anbang Insurance Group. Anbang is in the process of...
