Accor has announced a reorganization that will split the company into two businesses, one focused on hotel operation and another centered on hotel ownership and investment. The company also said it is ending expansion through leases and will no longer divest owned hotels unless they are underperforming.
Silverstein Properties on Monday announced that its Metro Fund Joint Venture has successfully financed almost US$1 billion to build a Four Seasons hotel, a restaurant and private residences at 30 Park Place in New York City's Tribeca. At 926 feet (282 meters), the property will be the tallest residential tower in Downtown Manhattan and one of the tallest in the city.
The Related Group and sbe have announced the launch of the Hyde Hotels, Resorts & Residences brand with two locations in South Florida scheduled to open in 2016. Hyde Hotel & Residences Midtown Miami, located at Midtown Avenue and 34th Street, will include 80 hotel rooms and 400 condominiums.
The Asia Pacific region is on track for another record year of international tourist arrivals in 2013, according to a new report released by Cushman & Wakefield, Singapore. The Asia Hotels View 2014 revealed that estimates showed an 8% growth year-on-year in the first half of 2013.