Singapore, Mandarin Oriental International Limited announced today that its wholly owned entity, Madison Avenue Hotel Partners Limited Partnership, had entered into an agreement to sell its 100% leasehold interest in The Mark, New York, for a gross consideration of US$150 million. The agreement is with an entity jointly controlled by Izak Senbahar and Simon Elias. The hotel was originally acquire...

At the recent ISHC Annual Conference held in San Diego, California, ISHC Members participated in a series of roundtable discussions to identify the ISHC Top Ten Global Issues and Challenges in the Hospitality Industry for 2006.

Marriott International, Inc. (NYSE:MAR) announced today that it has completed the sale of a portfolio of land underlying 75 Courtyard by Marriott hotels for approximately $246 million in cash to CBM Land Joint Venture limited partnership (CBM Land JV). CBM Land JV is a joint venture majority- owned by Sarofim Realty Advisors (Sarofim), on behalf of an institutional investor. In addition, Marrio...

Hilton Group's outgoing chief executive David Michels stands to make up to £6m from share options after the group finally clinched the long-awaited sale of its hotels arm to the US business Hilton Hotels for £3.3bn in cash yesterday. The deal reunites Hilton's US and international hotels businesses after 41 years and turns Hilton into a pure betting business. The sale could herald the complete br...

Smith Travel Research (STR) is the recognized leader in providing accurate, actionable information and analysis to the lodging industry. Since 1985, the company has served the industry operating on the key principals of integrity, confidentiality and customer service. STR provides timely information and analysis to all major North American hotel chains and a growing number of chains in Europe and...

A selection of Thai world-class spa products and concepts are set to be unveiled to the global spa marketplace during the ISPA 2006 Thailand International Spa & Wellness Conference and Exhibition to be held on May 3-5, 2006 at the Queen Sirikit National Convention Center in Bangkok, Thailand.

Hilton Hotels Corp., the third- largest U.S. hotelier, agreed to buy the lodging unit of Britain's Hilton Group Plc for $5.71 billion (3.3 billion pounds) to reunite the businesses and fuel growth overseas. Hilton Hotels is paying 11.3 times adjusted 2006 earnings before interest and taxes, the Beverly Hills, California-based company said today in a statement. The companies first disclosed they w...

Hilton Group plc announces that it has today signed a conditional agreement for the sale of its hotels and leisure division, Hilton International, to Hilton Hotels Corporation (“HHC”) for a cash consideration of approximately £3.3 billion which, when added to the proceeds of the recent sale of 16 UK Hilton International hotels, realises a total of approximately £3.7 billion for its hotels and rel...

BEVERLY HILLS, Calif. | Hilton Hotels Corporation (NYSE:HLT) ("HHC") today announced an agreement whereby HHC will acquire the lodging assets of Hilton Group plc (known collectively as "Hilton International" or "HI") for approximately GBP 3.30 billion (or $5.71 billion) in an all-cash transaction. This equates to a purchase price multiple of 11.3 times pro forma 2006 Adjusted EBITDA. The purchase...

Interested in getting in on the condo hotel trend? Perhaps you’ve heard about this new type of vacation home ownership, and it sounds right for you. After all, a condo hotel unit is typically located in a great vacation destination. It’s in a three-star or higher property. And a management company takes care of all the hassles typically associated with ownership, including finding renters whe...