International
NH Hotel Group Lands $3B Merger Bid
The Madrid-based hospitality company is in receipt of an offer from Barceló Hotel Group, which proposes to acquire its rival, along with a portfolio of 400 properties across Europe, the Americas and Africa.
NorthStar Realty Europe Sells $95M London Office Complex
Situated in Greater London, Dukes Court comprises 224,000 square feet of office on a three-acre site. Major tenants include HMRC, Kuwait Petroleum and Fidessa Group.
Foster + Partners to Design Marseille Airport Extension
The project will allow the airport to serve up to 12 million passengers per year, future-proofing the development until 2046.
Airbnb Faces Adoption Slowdown
A recently published report by Morgan Stanley shows that Airbnb’s initial utilization rate prediction for 2017 will only be reached by the end of next year. In the light of the platform’s struggles to maintain the momentum gained in 2015 and 2016, online travel agencies gain significant ground.
JV to Create Upscale Hotel Brand in Japan
An exclusive joint venture of Hotel Okura Co. and Trinity Investments LLC has revealed its plan to bring a new luxury brand to Japan’s hospitality market.
Castellum Tapped to Develop Stockholm City District
The upcoming development is expected to bring approximately 1 million square feet of office, hotel, retail and residential space to Söderstaden.
TownePlace Suites by Marriott Expands Canada Footprint
The property is the first major extended-stay property to operate in the city’s center, offering guests a long-term hotel option on the Canadian side of the border.
New Shangri-La Hotel Opens in China
Shangri-La Hotels and Resorts opened a new hotel in Xiamen, China. The 22-story property offers 325 guest rooms.
JLL Brokers Montreal Self-Storage Portfolio Sale
The Canada facilities, totaling nearly 169,000 square feet and featuring more than 1,300 climate-controlled units, were acquired by Montreal Mini-Storage Group.
IHG to Open First Hotel Indigo in Japan
The joint venture between InterContinental Hotels Group and ANA will open the first Hotel Indigo property in Japan in 2019. The hotel is just 90 minutes from Tokyo’s city center.