ASIA PACIFIC
W resort to open in Maldives
W, the super-trendy hotel chain owned by Starwood Hotels & Resorts, has announced its first resort property. The W Maldives-Fesdhu Resort in the Maldives is scheduled to open in late 2005. Starwood has teamed up with Universal Enterprises to launch a joint venture company that will develop and own the resort. The W Maldives-Fesdhu will feature 80 beach and over-water villas on the private island of Fesdhu.
Le Méridien to run hotels in Thailand and Cambodia
Le Méridien Hotels & Resorts has signed three new management contracts for hotels in Thailand and Cambodia. The group will manage the 223-bedroom Le M‚ridien Angkor in Siem Reap in Cambodia when it opens in September, along with the 400-bedroom Le M‚ridien Chiang Mai and 350-bedroom Le M‚ridien Bangkok, both in Thailand, when they open at the end of 2006.
EUROPE
Ascott Group completes Citidines deal
International serviced apartment company Ascott Group has bought the remaining 50% stake in European serviced apartment chain Citidines for g74.3m (£49.5m). Ascott bought the first half in February last year. The purchase is expected to be completed by the end of the year. Ascott has almost 14,000 serviced apartments in 39 cities in Europe and Asia Pacific, including more than 5,000 Citidines properties.
Mövenpick adds to German portfolio
Swiss hotel group M”venpick has signed a lease agreement with Vivico Real Estate to add its 14th hotel in Germany to its portfolio. The group will operate a four-star, 288-bedroom hotel in Frankfurt's Europa Quarter when it opens in June 2006.
Sol Meli to cut back on hotel acquisitions
Spanish hotel chain Sol Meli has said it won't buy any more hotels until the end of next year in a bid to cut its g1.1b (£733m) debt by 27%. The group will continue to open hotels, but will not buy any freeholds. The decision comes despite the company reporting a big leap in first-quarter profits to g13m (£8.6m).
Accor to reduce wholly owned hotels
French hotel group Accor has announced plans to cut the number of its wholly owned hotels to 15%, compared with the 21% of its portfolio that it currently owns. The group plans to increase the number of hotels it operates on leases.
Corinthia Alfa reopens after £23m refit
Corinthia Hotels International has reopened its 517-bedroom Corinthia Alfa hotel and congress centre in central Lisbon, Portugal, following a g35m (£23m) renovation. The hotel, which also features 3,000sq m of meeting facilities with space for 1,400 delegates, a spa and health club and several restaurants, has opened just in time for Euro 2004, which starts on Saturday.
Five-star hotel for Algarve resort
Work has started on a new hotel in the Algarve's Vila Sol Resort. The five-star hotel will open in September and will feature 140 bedrooms and 49 suites. It will also be surrounded by 10 clusters of villas and feature conference facilities, a swimming pool, tennis centre and a 1,400sq ft health spa with more than 20 treatment rooms.
NORTH AMERICA
Best Western adds magnificent seven
Hotel consortium Best Western has continued on its trail of world domination with the addition of seven new hotels. The group has added the 56-bedroom Dayton Inn and Suites in Dayton, Texas, the 103-bedroom Fairbanks Inn in Fairbanks, Alaska, the 50-bedroom American Inn in Clarendon, Texas, the 40-bedroom Taylor Inn in Taylor, Texas, the 108-bedroom St Christopher hotel in New Orleans, Louisiana, the 77-bedroom Atlanta Galleria Inn in Smyrna, Georgia, and the 90-bedroom Grand Seasons hotel in Waupaca, Wisconsin.