Latest news about buyouts of groups / hotels

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Hyatt Hotels Corporation : updated statement on NH Hotel Group Field under: Worldwide - Industry economy - Group / hotel buyout Mark Hoplamazian, President and CEO, Hyatt Hotels Corporation: “On July 26, 2018, Hyatt delivered a letter to the Board of Directors of NH Hotel Group in which we expressed our interest in pursuing a potential acquisition of NH Hotel Group with a separation of their real estate assets from their hotel management platform. Thereafter, Hyatt submitted a letter to the NH Hotel Group’s Board of Directors, responding to questions the Board asked about our letter of interest. After reviewing the disclosures that w...

Hyatt Hotels Corporation: statement on potential offer for NH Hotel Group Field under: Worldwide - Industry economy - Group / hotel buyout Mark Hoplamazian, President and CEO, Hyatt Hotels Corporation: "Hyatt has a demonstrated track record of making strategic investments to extend the reach of our brands and create value for our stakeholders. In keeping with our growth strategy, we submitted a letter expressing our interest in pursuing a potential acquisition of NH Hotel Group.We believe that marrying NH Hotel Group’s strong footprint in Europe and select other markets with Hyatt’s global presence would yield a powerful portfolio of brands and...

Minor International announces acquisition of additional 25.2% stake in NH Hotel Group Field under: Worldwide - Industry economy - Group / hotel buyout Minor International (“MINT”) announces today that it has reached an agreement with HNA Group to purchase an equity stake of 25.2% (on a fully-diluted basis) in NH Hotel Group in a two-tranche transaction valued at EUR 619 million. The purchase follows MINT’s earlier purchase of a 9.5% shareholding (on a fully-diluted basis) in NH Hotel Group. MINT also confirms that it will follow Spanish regulations as applicable to launch an all-cash public tender offer to acquire NH Hotel Group’s remaining shares. Such offer would be at a price not lower than MINT’s highest acquisition price in the last 12 month-period, currently EUR 6.40 per share (subject to fair price adjustments). M...

AccorHotels acquires Mövenpick Hotels & Resorts Field under: Worldwide - Industry economy - Group / hotel buyout AccorHotels has today announced that it has signed an agreement with Mövenpick Holding and Kingdom Holding to acquire Mövenpick Hotels & Resorts, for a cash amount of CHF560 million (€482 million). The transaction implies a 14.9X 2019e EBITDA multiple before synergies (including transaction costs), and less than 10X pro forma 2019e EBITDA after run rate synergies and committed development pipeline. The transaction will have an accretive impact on Group earnings from the first year.Founded in 1973 in Switzerland, Mövenpick Hotels & Resorts operates in 27 countries with 84 hotels (more than 20,000 rooms) and a particularly strong presence in ...

AccorHotels signs strategic agreement with Mantis Group Field under: Worldwide - Industry economy - Group / hotel buyout Leading hospitality Group acquires 50% stake in Mantis Group, the South Africa-based hospitality and travel conglomerate AccorHotels has today announced a strategic partnership with the South Africa-based Mantis Group, a collection of award winning, privately owned, managed and branded five star properties and lodges located around the world, across all seven continents. From boutique hotels, eco lodges, game reserves and luxury houseboats to adventure tourism as well as a bespoke tour operating division, the agreement reinforces AccorHotels as a leader in curated ...

IHG signs Crowne Plaza Doha West Bay in partnership with Tanmiyat Real Estate Field under: Middle East - Qatar - Industry economy - Group / hotel buyout IHG (InterContinental Hotels Group), one of the world’s leading hotel companies, has announced the signing of Crowne Plaza Doha West Bay in partnership with Tanmiyat Real Estate. Currently operating as the M Doha Hotel, the hotel is expected to be rebranded by August 2018, aligning with IHG’s strategy to grow the Crowne Plaza brand across the region.Dr. Braik Bin Samikh, Chairman of Tanmiyat Real Estate, signed the agreement for Crowne Plaza Doha West Bay with Mr. Pascal Gauvin, Managing Director, India, Middle East & Africa, IHG.The signing ceremony was held at the M Doha Hotel in the presence of dignitaries from Embassi...

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