Singapore-based Mapletree Investments Acquires Oakwood

Mapletree Investments has acquired Oakwood Worldwide, a global provider of corporate housing and serviced apartment solutions, for an undisclosed sum. The acquisition of US-based Oakwood is in line with Mapletree’s strategy to expand outside of Asia, and covers all of Oakwood's global operations. The collaboration also saw Mapletree acquire a 49% stake in Oakwood's Asia Pacific operating arm, Oakwood Asia Pacific. Oakwood currently manages a portfolio of more than 50 branded properties in over 95 countries. Mapletree first collaborated with Oakwood in 2014, when the two companies signed a $5 billion joint venture deal to open more than 100 new properties around the world in five years. As part of the collaboration, all of Mapletree’s nine corporate housing and serviced apartment assets in Australia and the United States are under Oakwood brand’s management. The full ownership of Oakwood will allow Mapletree to enhance efficiencies and growth under their corporate housing and serviced apartment business. Mapletree intends to step up its acquisition and development of corporate housing and serviced apartment assets in markets across the US, Europe and Asia Pacific, which are also regions where Oakwood is a well-regarded brand.

New Beginnings for MNC Land’s Bali Resort

The Pan Pacific Nirwana Bali Resort in Tabanan, Bali, is set to cease operations on July 31, following a decision by its owning company – Jakarta-based publicly listed developer, PT MNC Land Tbk. MNC Land made the decision to redevelop the site after reaching an agreement with The Trump Hotel Collection and claims that the upcoming development will be the second Trump community in Asia after the MNC Lido City in West Java. The new development will feature an ultra-luxury 6-star resort, destination beach club, world-class golf course, luxury villas and mansions, as well as high-end resort condominiums. The Trump resort will see a combination of cutting-edge, innovative design by award-winning firms Oppenheim Architecture and EDSA, and the island’s cultural and natural beauty.

Marriott International Opens the Westin Pushkar Resort & Spa in Rajasthan

Marriott International announced the opening of the Westin Pushkar Resort & Spa in Pushkar, Rajasthan. Spread over 11 acres and owned by Paradise Properties, the resort is the brand’s seventh hotel in India and the first internationally branded hotel in Pushkar. With 98 rooms, the resort also features an all-day dining restaurant, a lounge, two bars, approximately 9,000 square feet of meeting space, a swimming pool, a fitness center and a spa measuring 10,000 square feet.  Pushkar is amongst the oldest cities in the Indian state of Rajasthan, renowned for its places of historical and spiritual importance. 
 

Berggruen Holdings Reopens Funding Tap for Keys Hotels in India

New York-based Nicolas Berggruen’s investment firm, Berggruen Holdings is likely to make additional investments in Berggruen Hotels that runs the Keys Hotels brand in India. Though the quantum of investment is currently unknown, the operator believes it to be sufficient to take the business on a growth path over the next few years. In September 2006, at the time of launching of the hospitality venture, Berggruen Holdings had committed US$75 million worth of equity. Until 2013, approximately US$62 million in equity and an additional INR182 crore through debt had been pumped into the business. According to Anshu Sarin, CEO of Berggruen Hotels, "The funding ensures that a kitty is available to us for concluding any type of financial structuring required to be done using a combination of internal and external resources apart from cash flow that's getting generated from the operating business". Keys currently operates 21 hotels across 17 locations in India, and plans to add another 20 hotels over the next 12 to 24 months.

IHG Opens the Holiday Inn Kolkata Airport

InterContinental Hotels Group announced the opening of the first Holiday Inn in Kolkata, with the Holiday Inn Kolkata Airport. The hotel, built in partnership with Jain Group, is located approximately 4 kilometers south of the Netaji Subhash Chandra Bose Airport. The hotel features 137 rooms, approximately 6,500 square feet of meeting space, two restaurants, a bar, a patisserie, a swimming pool and a fitness center. Kolkata is the capital of the east Indian state of West Bengal. This major commercial and cultural hub serves as a key gateway city to the eastern region of the country.

China Hotel Investment Conference (CHIC) Gears Up for Its 13th Edition

The 13th edition of CHIC is scheduled take place on 17 and 18 May, 2017, at the Fairmont Peace Hotel, Shanghai. The event will feature a series of master class sessions on topics related to existing and proposed hotels. Confirmed notable speakers include Prof. Dai Bin, President, China Tourism Academy; Andrew Jessop, VP Development Worldwide, Langham Hotels International; Clay Markham, VP, CallisonRTKL; Daniel Voellm, Managing Partner - APAC, HVS; David Su, Co-Founder, Glory Fund Management Group & Managing Partner, Global Capital Investments Group (GCIG); David Greenbaum, VP, SmithGroupJJR; Gavin Yu, VP Hotel Development - China, Marriott International; Ingo Schweder, CEO, GOCO Hospitality; Leo Yen, Sr. VP Real Estate & Development, Hyatt Hotels Corporation; Manav Thadani, Chairman - APAC, HVS; Oliver Tittmann, Director, XCUBE High End Modular Prefabricated Container Building Manufacturer, and Wayne Li, Executive Director & VP Development - Greater China, AccorHotels, among others. CHIC is hosted by HVS and co-hosted by China Tourism Academy and Beijing International Studies University. 
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Absolute Share Price Performance, as on 24 February 2017