San Francisco Hyatt Regency sells for $200m (£102m)
The San Francisco Hyatt Regency hotel has been sold for almost $200m (£102m) to Dune Capital Management and DiNapoli Capital Partners. The 802-room hotel was sold by Strategic Hotel Capital LLC, owned primarily by Goldman Sachs and Prudential Real Estate.The hotel will remain a Hyatt Regency under a long-term management contract, and there are no immediate plans to change the hotel's operations. DiNapoli is a real estate investment fund based in California.
Hyatt sells furnishings online
Hyatt Hotels & Resorts is to sell its home décor and furnishings online. The luxury hotel brand will market a range of Hyatt and partner-branded products, ranging from the complete Hyatt Grand BedT to fitness DVDs, at www.hyattathome.com . Joan Lowell, vice president of electronic distribution at Hyatt, said: "Guests expect premium products in our rooms. We are now able to offer those products to our guests in their homes, so they can feel the Hyatt touch whenever they choose."
Burger King to open in Japan
Fast food chain Burger King Holdings has been awarded the rights to develop in Japan, with its first restaurant expected in capital city, Tokyo, before June. Development rights were awarded to Burger King Japan Co.Ltd., a joint venture between Lotte Co. Ltd. and Revamp Corp. The move comes as part of Burger King's international development strategy. Burger King's stock rose by 20% in 2006, compared with McDonald's 29% climb.
Extreme Hotels brand launched
Istithmar Hotels and Protea Hotels have secured £200m in funding to build up a new brand, Extreme Hotels. The hotel groups have teamed up with youth brand, Extreme Group, to provide technology and leisure facilities in key city locations. The 130-room Extreme Hotel Cape Town, South Africa, offers a five-storey climbing wall, wireless internet access and colour-changing swimming pool. Al Gosling, chief executive of the Extreme Group, said: "I couldn't have picked a better location to launch our new hotel brand. Not only is this one of the world's leading extreme sports destinations, but is perfectly positioned to ride the wave of attention that South Africa is attracting."
Holidaywatchdog.com launches Awards
UK's independent holiday review site, holidaywatchdog.com, has announced the winners of its awards. It named Best Mediterranean beach hotel as Bonaire Aparthotel, Cala Bona; Best Mediterrenean beach apartment as Club Alpina Apartments, Marmaris; and Best Caribbean Hotel as Iberostar Costa Dorada Hotel, Puerto Plata. Chris Brown, managing director, said: "This is especially relevant to the consumer as a hotel does not need to be five-star rated to receive the award. It's all about what customers think of the hotel's service, cleanliness, value for money and quality of staff."
InterContinental announces Crowne Plaza prototype
InterContinental Hotels Group has developed a new Crowne Plaza prototype designed to meet demands of the emerging marketplace. The group worked with hotel real estate and management company, Lane Hospitality, to create a prototype with both owners and guests in mind. The physical plan is able to accommodate different site constraints and markets. Design elements for meeting spaces include natural light, moveable partitions, ergonomic chairs and Wi-fi access.
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