Worldwide briefing
Mandarin buys Rafael
Mandarin Oriental, the owner of London's Hyde Park hotel, has agreed to buy the Rafael Group for $142.5m (£90.2m). Rafael operates six luxury hotels and resorts in Europe and the USA. The agreement is subject to shareholder approval, but Jardine Strategic Holdings, with its 55% stake in Mandarin, has agreed.
Scandic expanding
Scandic Hotels has agreed to acquire Swedish hotel group Provobis, which has 16 hotels of four-star quality. The bid values the company at SKr600m (£43.3m). The deal is expected to be completed in June, subject to shareholder approval.
Hyatt goes east
Hyatt International is focusing its expansion plans on India and Nepal. The group, which has just one franchised hotel in Delhi, plans to open six further hotels in Bombay, Calcutta and Kathmandu. It also opens its third hotel in Canada in June. The 355-bedroom Hyatt Regency Calgary in Alberta is owned by property firm Balboa Land Investments and managed by Hyatt.
Indian Meridien
Le Méridien is to open its fourth hotel in India next month. The group has signed a management contract to run the 243-bedroom Le Royal Méridien in Chennai. The new property was part of a US$40m (£25.3m) investment by developer Appu Hotels.