Hong Kong based Asia Prestige Management (APM) had successfully secured Ranveli Island Resort in Dec 2017. The island is strategically located in South Ari Atoll of Maldives and only 25 minutes seaplane ride from Male City. The resort will be re-branded as Zazz Island Resort.
InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] today announced that it has agreed to acquire a 51% stake in Regent Hotels and Resorts for $39 million in cash. IHG will have the right to acquire the remaining 49% interest in a phased manner from 2026.
Hotel transactions in the U.S. top 25 markets accounted for just 37% of sales in 2017, down from 52% of all sales in 2016.
The 14-story hotel, which will operate under Curio Collection by Hilton in an agreement unveiled at MIPIM, includes a 22.5 million investment led by Yvon Gérard and a consortium of investors.