acquisition
MCR To Acquire Historic BT Tower – One of London’s Tallest Buildings
MCR | February 21, 2024
NEW YORK, NY / FEBRUARY 21, 2024 MCR, the third-largest hotel owner-operator in the U.S., has agreed to purchase the BT Tower — one of London’s tallest buildings — from BT Group. MCR will own the 620-foot Tower and podium, encompassing a full London city block, freehold. MCR intends to secure the future of the iconic Tower — which was opened in 1965 in Fitzrovia, London, and is listed Grade II importance by England’s Historic Buildings and Monuments Commission — by repurposing it as a hotel and opening it up to the public. MCR will partner with London-based Heatherwick Studio to consider how best to reimagine its use as a ho...
IBS Software Acquires APS® for $90 Million as It Targets Major Growth in Hospitality Sector
ABOVE PROPERTY SERVICES (APS®) | January 17, 2024
Acquisition allows IBS Software to add state-of-the-art CRS, PMS and RMS capabilities to its established booking engine and distribution platform, significantly increasing its addressable market in hospitality Atlanta, 17 January 2024 – IBS Software, a leading SaaS solutions provider to the travel industry globally, has reached an agreement to acquire the ground-breaking hotel and travel technology provider Above Property Services (APS®). The $90 million transaction will further solidify IBS Software’s position in the hospitality market and strengthen the brand, to underpin an ambitious expansion of its reach in the hospitality i...
PIF Enters Into Definitive Agreement to Acquire Significant Minority Stake in Rocco Forte Hotels
Rocco Forte Hotels | December 18, 2023
LONDON, 18TH DECEMBER 2023: Rocco Forte Hotels (the group) is pleased to announce that the Public Investment Fund (PIF) has entered into a definitive agreement to acquire a significant minority stake in the group. The Forte family will retain majority ownership and control. The arrangement sees the Italian entity CDPE Investimenti (CDPEI) selling its entire stake. PIF’s investment will include an element of primary equity which will accelerate the brand’s expansion in both existing and new global markets, building on the group’s track record of growth and development that includes eight new properties opened or committed in...
Cordish Companies to Finalize Diamond Jacks Casino and Hotel Bossier City Acquisition
The Cordish Companies | October 23, 2023
BALTIMORE, MD (October 23, 2023) – The Louisiana Gaming Control Board today unanimously granted LRGC Gaming Investors, LCC, an affiliate of The Cordish Companies, the necessary regulatory approvals required to become a gaming operator in the State. The approval clears the way for Cordish to finalize the acquisition of Diamond Jacks Casino & Hotel in Bossier City and begin its transformation into a world-class Live! branded casino resort and entertainment destination. Central to the redevelopment is the construction of the first land-based casino in the Shreveport-Bossier market. In addition to fully renovating the hotel rooms and p...
Eleven Acquires Owen River Lodge in New Zealand
Eleven | October 23, 2023
Crested Butte, CO October 2023 – Eleven®, a leading collection of global adventure lodges, expands its presence in New Zealand with the addition of Owen River Lodge, an award-winning angling lodge in the Tasman region known for its brown trout sight fishing. Owen River Lodge becomes the 13th property in the portfolio and second in New Zealand, joining Eleven’s Cedar Lodge, tucked beneath the Southern Alps and famed for its access to wild trout. “While New Zealand is the pinnacle of trout fishing, Owen River Lodge is arguably the best place in the world for sighted brown trout fishing” shared Cameron Davenport, Angling Operations ...
Wyndham Board of Directors Rejects Unsolicited Proposal From Choice
Wyndham Hotels & Resorts | October 17, 2023
PARSIPPANY, N.J., Oct. 17, 2023 -- Wyndham Hotels & Resorts (NYSE: WH) ("Wyndham" or the "Company"), the world's largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, announced that its Board of Directors unanimously rejected a highly conditional, unsolicited stock-and-cash proposal by Choice Hotels International, Inc. (NYSE: CHH) ("Choice") to acquire all outstanding shares of Wyndham. Wyndham's Board of Directors, together with its financial and legal advisors, closely reviewed Choice's latest proposal with a nominal value of $90 per share, comprised of 45 percent in stock and 55 percent...
Monte-Carlo Société des Bains de Mer Acquires Palace des Neiges in Courchevel 1850
Monte-Carlo Société des Bains de Mer | October 12, 2023
Monaco, 12 October 2023 — As part of the strategy undertaken since Stéphane Valeri became Chairman and CEO, Monte-Carlo S.B.M. Group purchased the Palace des Neiges in Courchevel 1850 on Tuesday, October 3rd. The strategy thus gets underway in the prestigious French Alps resort, at the heart of the Jardin Alpin district that boasts several leading luxury hotels, with the acquisition of the Palace des Neiges and with a major renovation in view to bring to life all the know-how and expertise of S.B.M in the field. To identify the property and provide optimal support throughout this specific mountain acquisition, S.B.M Group approached the ...
Alojica Completes Acquisition of Marriott Puerto Vallarta Resort & Spa
Alojica | October 2, 2023
MEXICO CITY, Oct. 2, 2023 -- Black Creek Mexico ("BCM") is pleased to announce that affiliates of Alojica, a BCM sponsored investment platform, have completed the acquisition of the Marriott Puerto Vallarta Resort & Spa, from an affiliate of Marriott International, Inc. The 433-room beachfront resort, located in Puerto Vallarta, Jalisco, Mexico, is managed by an affiliate of Marriott International under a long-term Marriott Hotels & Resorts agreement. Alojica plans for the property to undergo a transformational capital improvement plan to convert the property into All-Inclusive by Marriott Bonvoy. Planned improvements include a compr...
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