Bass buys SPHC
Bass has bought the 59-strong Southern Pacific Hotels Corporation (SPHC) for £128m in cash.
SPHC has 24 hotels in Australia, 13 in New Zealand, eight in the southern Pacific islands and 14 in the rest of Asia.
The hotels operate under the Centra and Parkroyal brands. SPHC's Travelodge hotels are not included in the deal.
Bass already has 102 hotels in the region under the Inter-Continental, Crowne Plaza and Holiday Inn brands.
Tom Oliver, chairman and chief executive of Bass Hotels & Resorts, said: "This is an excellent opportunity for Bass to strengthen our number one position in the Asia Pacific market.
"We are looking forward to working with the owners of the hotels to build the returns as the properties are incorporated into Bass's global reservations system."
