The Company purchased from the current owner the entire equity capital of two entities that together own Castello di Casole, one of the largest private real estate properties in Tuscany. The purchase price, including transaction costs, is approximately 39 million ($48 million) with a possible further 2.85 million ($3.5 million) payable contingent upon certain real estate sales being realized.
Groupe ADP and AccorHotels have signed two building leases, one for the renovation of the current Mercure hotel and one for the construction of a new ibis Styles hotel at Paris-Orly Airport.
Hilton (NYSE: HLT) yesterday announced the signing of a franchise agreement with H.n.h. Hotels & Resorts S.p.a. to open DoubleTree by Hilton Rome Monti, the city's first under the DoubleTree by Hilton brand.
Mandarin Oriental Hotel Group has announced an agreement to brand and manage 34 luxurious Residences by Mandarin Oriental, Barcelona housed in a 20-storey tower, with a prime location at the intersection of Passeig de Gràcia and Avinguda Diagonal.