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Singapore Corporation “Far East Organization” plans to operate hotels in Russia under its own brand name
The player of Asiatic market of real estate the corporation “Far East
Organization” is planning to expand its coverage to the commercial real
estate market of Russia via purchasing hotel assets, the managing
director of the corporation Chia Bun Kvua said Wednesday at the
press-conference in the embassy of Singapore. “A number of Singapore companies work in Russian market today and we
also look into this possibility. We aim at the hotel market because
demand for hotels is very high. We are planning first to purchase some
old hotel and turn it to five-star residence under the brand name
Fullerton”, he reported.
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Hotel “Oasis” in Adzharia to be developed
The owners of the hotel “Oasis” located at the Black Sea seaside of
Adzharia in the village of Chakva decided to develop the territories
adjacent to the hotel despite the low tourism this season.
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"Development Solutions" to further develop its projects in Georgia
The company “Development Solutions” found two years ago by the group of
Kazakh and Georgian investors is going to further develop its projects
in Georgia, Interfax reports. According to Georgij Maar, the manager
of the company, despite the difficult situation in the country, the
projects of the company being now underway will be completed. He is
sure that demand for hotels and housing estate complexes in Tbilisi and
Batumi won’t be reduced in future.
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Azimuth Hotels Company and Hamilton Hotel Partners to manage new hotel chain in Europe
C.E.H.I. (the subsidiary of Azimuth Hotels Company) and Hamilton Hotel
Partners inked an agreement on establishing new hotel management
structure. C.E.H.I. bought hotels and hotel projects from Austrian Hotel Company
in April 2008. Hamilton Hotel Partners catering strategy consulting to
Azimuth Hotels Company was invited to manage C.E.H.I. assets. The agreement between the companies gives an opportunity to establish
new organization structure which will manage the acquired hotel
business.
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Antimonopoly Committe permits Ukranian hotel operator clubhouse group holdings to buy a share in Kyiv-based Seven Days Ltd
The Antimonopoly Committee of Ukraine (AU) has permitted Ukrainian
hotel operator Clubhouse Group Holdings (British Virgin Islands) to buy
a share in Kyiv-based Seven Days Ltd., the committee's press service reported Interfax. The press service said that the purchase would grant the buyer over 50% of the votes in the governing body of the company. Seven Days Ltd. is a daughter company of Clubhouse Group Holdings. At
present, the company manages two hotels under the Seven Days brand in
Kyiv and in Kamianets-Podilsky. Clubhouse Group Holdings plans to
expand the chain of three-star hotels to 12 by 2014.
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Latvian businessmen to put millions into hotel in Daugavpils
The owner of “Mono holding” Michael Ul’man and the owner of the
company “Eko prime” Alexander Babenko is going to invest approximately
€15 million to the reconstruction of the hotel “Paparde” in Daugavpils,
Dienas bizness reported today. “Eko prime” bought the hotel in February 2007. According to Vladislav
Blokhin the member of “Eko prime” directors it is the only hotel
located in the district “Novye stropy” which resembles the forest park
in Riga (Mežaparks).
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Russian businessman to invest millions to European hotels
The owner of the company “Inteko-Agro” Victor Baturin is going to
invest more than $74 million, revenue collected from the hotels in
Sochi and Belgorod, to European hotel business, Kommersant reports. The first hotel of Baturin in Europe is the 4 star hotel totaling 180
rooms located nearby the city of Savonlinna in the east of Finland.
According to Baturin the hotel will open after reconstruction in the
end of 2008. He bought this hotel where the film “Peculiarities of
Russian fishing” was shot, in 2004.
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Sovereign Hospitality Holdings investment plans for emerging hotel markets of Russia and CIS
Sovereign Hospitality Holdings is going to invest $1bln to the construction of deluxe hotels in Ukraine, RBC.UA reported Tuesday with the link on the press report of the company. According to the holding the demand of Kiev for high-end accommodations is only halfly satisfied. There are only six luxury four and five star hotels totaling 1053 rooms in the Ukraine capital today. The assimilation of the Kiev hotel market is the part of the holding’s investment plan for emerging hotel markets of Russia and CIS. The holding is also going to invest $1.5bln to Russia and $1bln to Kazakhstan. Further projects might be financed in Azerbaijan, Tajikistan and Uzbekistan.
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Destination Hotels to open two in Chapel Hill
Destination Hotels & Resorts has assumed management of the historic
184-room Carolina Inn and the 120-room Rizzo Conference Center in
Chapel Hill, North Carolina. Both properties are owned by the University of North Carolina.
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Starwood's First Element Hotel Opens
Starwood Hotels & Resorts Worldwide has opened its first
extended-stay Element hotel in Lexington, Boston suburb, HotelBusiness
reported yesterday. The 123-room hotel is positioned as environmentally friendly and is LEED-certified. Achieving LEED certification is the best way to demonstrate that the building is truly "green."
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IHG will open 100 more hotels in China in two years
Intercontinental Hotels Group (IHG), the world's largest hotel company
by number of rooms, said today it will open 100 more hotels in China in
the following two-and-a-half years.
The group also said it will expand its China staff from 30,000 to 50,000 in 18 months.
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U.S. hotels target the Middle East and Asia for opportunities
The U.S. hotel industry is looking to the Middle East and Asia for growth as the domestic economy slows down.Company executives told the annual New York University hospitality
conference this week that Eastern markets offer huge opportunities just
as weaker consumer spending, troubled airlines and sky-high gas prices
might threaten their domestic businesses.
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Hyatt and Euro RSCG agreed to part ways
Global Hyatt Corp. and Havas' Euro RSCG Worldwide are parting due to
“creative differences”, leaving the hotel chain to scout for new agency
partners to handle work on a project basis. The split comes after a 10-month run that resulted in no new creative work.
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Britain prisoners treat jail as B&B lodging
More than 37,000 inmates opted out of tagging and other release schemes
between 1999 and 2006. 42 people have been caught trying to break into
prisons in the past five years.
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Rezidor will built two new hotels in Dubai
The Rezidor Hotel Group, one of the fastest growing hotel companies
worldwide, further strengthens its portfolio in Dubai – announcing a
dual hotel in the “DMCC Business Park”. A 32-storey complex will
feature the Radisson DMCC Business Park Hotel (150 rooms) and a second
yet unbranded hotel (300 rooms). Both to open in Q3 2011.
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Fashionable hotels open in Beijing
The hotel boom in Beijing continues as the Summer Olympics draw near. The stylish Hotel G Beijing will open this month in the Chaoyang
District, where bars and restaurants like the Green T. House abound.
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True and passionate Asia Pacific Hotelier of 2007
Koos Klein, President of Hilton Hotels Asia Pacific has been named “Asia Pacific Hotelier of the Year 2007” at the 11th Asia Pacific Hotel Investment Conference organised and hosted by Jones Lang LaSalle Hotels.
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Hotel Investment Seminar in Arizona
The Hispanic Hotel Owners Association (HHOA), a rapidly growing
non-profit organization that seeks to increase Latino ownership of
hotels, today announced that it will hold part one of a three-session
series of International Hotel Investment Seminars May 28-29 at the
Wyndham Phoenix in Arizona. The HHOA-developed seminars were created to
inform high-net worth Hispanic investors about available hotel
ownership opportunities.
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