Essential news from around the world...
Hilton sells Pandox stake
Hilton Group has sold its 20.8% stake in Swedish hotel property company Pandox to a Norwegian joint venture company for £43.25m.
Ascott enters Gulf region
Serviced apartments company Ascott Group, has won a contract to manage two serviced residences in Dubai city, giving it a foothold in the Gulf region. The two residences have about 250 apartments between them.
Seven sales for MeriStar
US real estate investment trust MeriStar Hospitality has sold seven hotels with a total of 1,224 bedroom to five separate buyers for a total of $31.5m (£17.8m) as part of its strategy of selling off non-core properties. The seven hotels comprise four in the USA and three in Canada.
Blackstone buys Munich property
Blackstone Group, owner of the Savoy hotel in London, has announced that its property investment arm has bought the 348-bedroom Marriott Hotel in Munich, Germany, from a private Japanese investor. Marriott will continue to manage the hotel.
W Mexico City opens
Starwood Hotels & Resorts has opened its first W boutique hotel in Latin America. The W Mexico City has 237 bedrooms.
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