Hotel Industry News - Development

Accor announced its strategic expansion plans for Vietnam. This plan includes additional hotels within the Novotel, Mercure hotel brand, launching of the ibis brand and MGallery label and the ambitious goal of doubling the number of rooms under management in the Vietnam by 2012. - More

A financing alternative that frees up capital allowing the owner to invest back into the same or different business. - More

Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation’s largest independent hotel management company, today announced that its stockholders approved, at a special meeting held today, the merger agreement by which Interstate will be acquired by Hotel Acquisition Company, LLC. - More

Wyndham Vacation Ownership, a member of the Wyndham Worldwide family of companies (NYSE:WYN), today announced it has entered into an exclusive sales and marketing agreement with Towers on the Grove, LLC. - More

Third Renaissance and first Marriott Executive Apartments properties are scheduled to open in Tianjin later this year - More

Westgor & Associates, Inc., charter member of Hotel Brokers International, announces the sale of the 60 unit Americas Best Value Inn located in Stevens Point, Wisconsin, to Shree Laxmi Naryam. Jeff Westgor, CHB, President of Westgor & Associates Inc., represented the seller – US Assets. Financing was an SBA 7A loan. - More

The fascinating Terre Resort & Spa, located in Marrakesh, is now an ARTEH® Hotel. - More

From the International Hotel Investment Forum (IHIF) in Berlin, Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announces plans to open 50 new hotels in its Europe, Africa and Middle East (EAME) division by 2012. And with the recent opening of the Sheraton Bratislava Hotel - along with 13 additional hotels slated to open this year - t... - More

As part of a global reorganization aimed at accelerating worldwide growth, Marriott International, Inc. plans to double its portfolio in Europe by 2015. Amy McPherson, president and managing director of Marriott International Europe, made the announcement today at the International Hotel Investment Forum. - More

Hilton Worldwide has signed a Management Agreement with High for Touristic Projects for the new-build Hilton Heliopolis in Egypt's capital Cairo, scheduled to open in 2014. - More