Dutch hotelier citizenM has acquired a property in Italy to be converted into a new hotel. The acquisition in a joint venture with European asset manager Antirion. The acquisition follows an ambitious new openings roll out across the US where citizenM has circa 20 new openings in the pipeline. This follows the announcement of the group’s fourth Paris property opening … [Read more...]
Search Results for: hotel acquisition
Whitbread CEO serves notice of acquisition intent
As Whitbread busy themselves in preparing to secure liquidity through raising circa £1bn from shareholders, CEO Alison Brittain has sent out a note of acquisition intent to the hospitality industry. Brittain in a note to the press said Whitbread didn’t need the £1bn to stay afloat, with the money intended as a war chest to make acquisitions. She even outlined the basic … [Read more...]
London hotel acquired by Parisian boutique operator
French boutique hotel operator Touriste has acquired the Chrysos Hotel in West London. The Chrysos Hotel in West London comprises two converted Georgian properties in Norfolk Square, Paddington. Plans to extensively upgrade and remodel the hotel when it reopens post the Covid-19 lockdown, as well as increase the number of rooms are already underway. The … [Read more...]
Hotel M&A still active
With a large proportion of hotels around the world closed or severely impacted from the Covid-19 pandemic M&A activity is subdued. There is still however activity, albeit ever more selective. M&A timelines can vary enormously, when deals are struck executing them can become a protracted process. Only last week we reported on a $5.8 billion lawsuit over a stalled hotel … [Read more...]
Accor’s latest acquisition yesterday signals global rebrand
The COVID-19 pandemic has seen the hospitality industry worldwide hit by lockdowns that preclude most from operating anywhere near normal levels of business. The reactions of most through necessity have been to mothball as best as possible to have a chance of emergence from the crisis. For some however, as we have been tracking and reporting, it also presents an opportunity … [Read more...]