Sydney-based Tourism Asset Holdings is to spend A$3m (£1.1m) refurbishing the 166-bedroom Sheraton Vista in Melbourne, Australia, which it bought for A$16m (£5.8m) from Malaysian United Industries.
Kempinski, the Germany-based hotels group, has returned to profit a year ahead of forecasts. It recorded a net profit of DM2.5m (£830,000) in 1997 on sales of DM260m (£87m), against losses of DM2.4m (£800,000) in 1996.
The new $108m (£65m), 33-storey, 800-bedroom Hyatt Regency McCormick Place in Chicago is the first hotel to serve North America's largest convention centre since the McCormick Inn was demolished in 1993.
Hilton in Jamaica
Hilton International has moved into the Jamaican capital with a contract to manage the new Hilton Kingston Jamaica, formerly the Wyndham Kingston Hotel, on behalf of owner Ocean Chimo.
Inmotel Inversiones, the Spanish property company, is investing £22.5m to improve Sol Melia hotels in the Balearic Islands, as part of a total £63.8m investment programme in its hotels throughout Spain.
Canadian Pacific Hotels has bought the 375-bedroom Hotel Toronto East, formerly the Sheraton Toronto East, for Cdn$37.2m (£15.2m) and will spend another Cdn$1.1m (£451,000) on its refurbishment.