Uzbekistan since leaving the former Soviet Union has made significant efforts to distance itself from past links with the communist empire. A part of Central Asia that not so very long ago few had heard of let alone visited. After leaving the Soviet Union in 1991 Uzbekistan tried hard to open its doors to tourism. Hotel Uzbekistan opened in 1974 and catered largely … [Read more...]
Search Results for: hotel acquisition
$5.8 billion lawsuit over stalled hotel acquisition
Chinese Insurance giant Anbang are suing South Korea’s Mirae Asset Management for failing to complete the $5.8 billion acquisition of a US hotel portfolio. The lawsuit was initiated in the US on Monday, following Mirae’s failure to secure finance to complete the acquisition. The hotels that were to be acquired included JW Marriott Essex House in Manhattan, New … [Read more...]
NH Hotel acquisition completed 24 hours ago
Eastern Property Holdings, a Swiss based investor in and operator of hotels announced yesterday the acquisition of a 90% of interest in the Nhow Hotel, part of the NH Hotel Group in Berlin, Germany. The acquisition from the Jesta Group did not disclose the acquisition price. The Nhow Hotel in Berlin comprises 304 rooms, 86 underground & 39 surface parking spaces, a spa, … [Read more...]
Hotel acquisitions continue amid uncertain times
As hotels around the world stare at the current situation around COVID-19 and diminishing occupancy, buyers are still in the market to acquire properties. Two in recent days have been seen, the fist being a joint venture between Singapore-listed Soilbuild Construction Group and iProsperity, an asset manager which manages funds for Chinese high net worth individuals. The … [Read more...]
Hotel acquisition sees staff training and new job creation as top 2020 priorities
The largest independently-owned hotel in Rotherham is under new ownership and the team behind the acquisition have wasted no time in announcing plans to invest a seven figure sum in the popular three star venue. Aiming to establish Carlton Park Hotel as one of South Yorkshire’s premier destinations, the hotel is set to become the flagship destination new owners Red Admiral … [Read more...]