AccorHotels will be restructuring a portfolio of 31 hotels (consisting of 4,097 rooms) in Australia after reaching an agreement with a wholly-owned subsidiary of the Abu Dhabi Investment Authority. The agreement involves a portfolio which was purchased by the ADIA subsidiary in 2013 and operated by AccorHotels.
Under the restructure of the portfolio of 31 hotels, AccorHotels will convert 15 triple-net leases into 50 year management agreements and extend the management term of one hotel also to 50 years (total 16 hotels). AccorHotels (HotelInvest) will also acquire the real estate of the remaining 15 ibis and ibis Budget branded properties for AU$200 million (€137 million). The hotels are located in prime locations including Sydney’s Darling Harbour, Sydney Olympic Park and in Canberra, Australia’s Capital City. The portfolio is also spread across city and regional locations in New South Wales, Victoria, Northern Territory, Western Australia and Queensland and encompasses the Pullman, Novotel, Mercure, ibis, ibis Styles and ibis Budget brands.
The acquisition will be accretive to AccorHotels’ EBIT in 2017 and will further strengthen its market leadership position in Australia by securing tenure on key assets. Completion of the acquisitions is subject to the usual conditions for this type of transaction, as well as regulatory approvals.
Myanmar's very first Sofitel property has just opened along the shores of the famous Inle Lake. The Sofitel Inle Lake Myat Min is a luxury boutique resort that is set to become a new destination for couples and travelers looking for serenity in Myanmar’s Shan State. The property is not only accessible by car but can also be reached via motorboat for guests who wish to get a chance to see the Intha rowing experience, where boatmen adopt the well-known traditional one-legged rowing technique to row their boats on Inle Lake.
The InterContinental Hotels Group has just announced its agreement to acquire 51% stake in Regent Hotels and Resorts (which in turn makes them the largest shareholder) for $39 million in cash. They will then have the right to acquire the remaining 49% interest in a phased manner from 2026.
The recently opened Fairmont Austin is now the largest hotel in Austin, Texas and it is also the second largest Fairmont hotel globally, in both number of rooms and total meeting and event space. With nearly 140,000 square feet of meeting and event space as well as 1,048 rooms and suites, the Fairmont Austin is situated in the vibrant Central Business District (CBD) with direct access to the Austin Convention Center via the Red River Canopy Walk.
Publico Ristorante in InterContinental Singapore Robertson Quay will be bringing the best of the Isle of Capri to Singapore with a brand new Sunday brunch experience (11:00AM to 4:00PM) that is filled with contemporary Italian dishes and exuberant cocktail concoctions. Expect to find classics with an Italian twist in the à la carte brunch menu alongside the ultimate Italian classic, the Aperol Spritz. The combination of Mediterranean flavours with the breezy terrazza, cool house tunes and dynamic entertainment makes Publico the ultimate brunch destination.
A brand new property on the beautiful Belitung Island in Indonesia has just been unveiled - the Fairfield by Marriott Belitung, which is located at Tanjung Pendam Beach offers remarkable sunset views and local culinary delights alongside the brand’s signature warm, inviting hospitality.
AccorHotels has just announced the opening of a brand new international hotel (first of its kind) in Chennai's largest and upcoming industrial and automobile belt – Sriperumbudur-Oragadam. The Mercure Chennai Sriperumbudur combines tradition and modernity to immerse guests in a South Indian experience that is home away from home. The property is located approximately 45 minutes drive away from Chennai International Airport and an hour’s drive from the historic monuments and beaches of Mahabalipuram.
Accounting for almost 50 percent of its domestic tourism, Goa is India's most visited destination and AccorHotels has just opened her fourth property here - the Novotel Goa Dona Sylvia Resort. The resort is positioned as a product that reconnects people to their essentials, putting them in touch with fun, nature and activities.
Guests staying in any one of Millennium Hotels and Resorts’ six Singapore properties under the Stay & Ride with Uber package will get to enjoy complimentary Uber rides daily around Singapore (from the hotel to anywhere in Singapore except the airport) alongside a range of other attractive benefits.
The Four Seasons Hotel Singapore has recently completed a massive renovation of rooms and suites to reflect a brand new colour palette that is inspired and influenced by the nearby Singapore Botanic Gardens, a UNESCO World Heritage Site.
Slated to open in 2021, the Park Hyatt Kuala Lumpur will occupy the top 17 floors of the PNB 118 - a 118-floor tower that will overlook the Stadium Merdeka, Malaysia. This prestigious development is expected to become the tallest skyscraper in Southeast Asia (third tallest in the world).