Hyatt’s
acquisition of Playa proceeds. Hyatt Hotels Corp. said that over 101 million shares of Playa Hotels & Resorts N.V. were validly tendered and not withdrawn before the expiration of the initial offering period on June 9. Those shares, together with
the 12.1 million Playa ordinary shares already owned by Hyatt, represent approximately 92.7% of the outstanding Playa ordinary shares. As a result, Hyatt said the minimum tender condition and other conditions of its previously announced tender offer
to acquire Playa for $13.50 per share or approximately $2.6 billion, including approximately $900 million of debt, net of cash, have been satisfied. All validly tendered shares are expected to be accepted for payment on or about June 11. Hyatt also
announced that the subsequent offering period has now commenced. If everything goes according to plan, Hyatt expects
to own Playa by next week.
100th opened voco. IHG Hotels & Resorts is opening its 100 voco hotel for within seven years of its launch. voco has properties in more than 25 countries and further market entries in Turkey, Malaysia and Aruba set for the next two years.
voco now has 95 properties in its pipeline.
Aman’s Janu debuts in Americas. The Aman Group is announcing its fifth destination from its sibling brand: Janu Turks and Caicos. The private beachfront setting on the shores of Providenciales will be the first Janu in the Americas.
The property under construction will feature a hotel and a limited number of branded residences.
First Lux
branded residence. Singapore-based The Lux Collective is partnering with Dubai-based QUBE Development to create the first Lux branded residence in Dubai. The project is scheduled to be completed in 2028.
IHG signs
another InterCon in UK. IHG Hotels & Resorts is partnering with London-based Blue Manchester Hotel Ltd. to sign the InterContinental Manchester – Deansgate, marking the fifth InterContinental in its U.K. and Ireland portfolio. The 264-room
hotel is expected to be fully rebranded by 2027 and will remain open to guests. The signing expands IHG’s luxury and lifestyle portfolio in the market, adding to its existing 27 open hotels in the market.
QT hotel
in Queenstown expanding. Sydney-based EVT Hotels & Resorts is expanding its QT brand with the renovation and full conversion of the 152-key Rydges Lakeside Queenstown hotel. Once renovated, the hotel will integrate the 69-key
QT Queenstown and have 221 rooms. The current QT hotel will stay open throughout and new rooms will become available in various stages with the project scheduled to be completed by mid-2027.
Mandarin
adds in Italy. Hong Kong-based Mandarin Oriental Hotel Group is taking over management of the San Clemente Palace Hotel in Venice, Italy. The property is located on a private, 12-acre island in the Venice lagoon and has undergone several reflags in recent years,
previously operating as the St. Regis Venice San Clemente Palace and San Clemente Palace Kempinski Venice. Mandarin Oriental said it would operate the seasonal property as the San Clemente Palace Venice through this November when it will close for
a renovation. The hotel will reopen in April under the Mandarin Oriental brand. The revamped hotel will feature 136 rooms, four dining venues and a spa with multiple treatment rooms.
IHG adds
in India. IHG Hotels & Resorts has signed a management agreement with Atithi Gokul Hotel Inns Pvt. Ltd. (part of AG Group, Ahmedabad) to develop a new hotel in Ahmedabad, India. The 150-key Holiday Inn Ahmedabad is scheduled to open in the third quarter
of 2028.
IHCL adds in Mysuru. Indian Hotels Co. Ltd. (IHCL) is partnering with the Farah Group to sign a new hotel in Mysuru, India, that will be branded Vivanta. The 115-key Vivanta, Mysuru will be IHCL’s 26th hotel in Karnataka state of India, including
12 under development.
