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United States | TKO Hotels offers €1.7bn for Service Properties Trust’s 92 hotels
TKO Hotels, a hotel owner based in Aberdeen, South Dakota, announced on 9 October an unsolicited all-cash offer of around €1.7bn to acquire the 92 hotels held by listed REIT Service Properties Trust (SVC). The deal would cap almost seven years of disposals that have sharply reduced the hotel exposure of a vehicle once entirely dedicated to hospitality.
Business
United States | In Chicago, UNITE HERE Local 1 launches strike at six hotels on the eve of the marathon
Staff at six downtown Chicago hotels, including the Palmer House Hilton, the Waldorf Astoria and the Sheraton Grand Chicago Riverwalk, walked out on Friday 9 October 2026 at the call of the UNITE HERE Local 1 union. The action comes during Chicago Marathon weekend, one of the busiest periods of the year. It forms part of negotiations covering more than 7,000 workers across 46 hotels in the city.
Explorer
Business
Transaction, USA | Ashford Hospitality Trust continues portfolio optimisation with sale of the Hyatt Regency Long Island
As part of the portfolio optimisation strategy announced in a press release on 9 April 2026, Ashford Hospitality Trust had already confirmed the sale of four hotels and entered into definitive agreements for two additional sales. The Group has now completed, on 31 July, a seventh, separate divestment: the Hyatt Regency Long Island. Together, these transactions are expected to generate more than $60 million in future capital expenditure savings.
Business
Transaction, Lithuania | Grand Hotel Vilnius, Curio Collection by Hilton, set to be sold to a group linked to Tesonet Global
Law firm ESTEEM announces it has advised 1 Asset Management and its IAM Luxury Hotels Fund on the proposed sale of the Grand Hotel Vilnius, Curio Collection by Hilton. The company operating the property is to be acquired by an entity linked to Tesonet Global, UAB, in a transaction still subject to approval by the Lithuanian Competition Council.
Business
Results, Hong Kong | The Hongkong and Shanghai Hotels (Peninsula) returns to profit, commits HK$2.1 billion to renovations at the Peninsula Hong Kong and...
The Hongkong and Shanghai Hotels, owner of the Peninsula Hotels group, reports first-half results marked by a return to profitability, with profit attributable to shareholders of HK$23 million, compared with a HK$289 million loss a year earlier. Driven by strong RevPAR growth in Greater China and the United States, the Group also announces HK$2.1 billion in renovation plans for the Peninsula Hong Kong and the Peninsula Tokyo.
Business
Opening, China | Shangri-La Group unveils its first JEN by Shangri-La in Hangzhou
Shangri-La Group announces the soft opening of JEN Hangzhou by Shangri-La, the JEN brand's tenth property worldwide and its first in the city. Set within the former Hangzhou Oxygen Plant site, inside the Hangzhou Kerry Plaza complex, the 176-room hotel blends preserved industrial architecture with the lifestyle brand's signature "Live New Asia" spirit.
Headlines
Results, Thailand | Minor Hotels posts Q2 2026 profit growth, accelerates asset-right expansion
Minor Hotels reports stable results for the second quarter of 2026, with core profit up 2% to THB 2.8 billion, driven by strength in Europe and the Americas offsetting disruption in the Middle East. The Group also accelerates its asset-right development strategy, signing 29 hotel management agreements in the half, including 20 in the second quarter alone.
Business
Finance, Spain | Andbank launches a second €200 million hotel fund targeting the Balearics, Canaries and Costa del Sol
Andorran bank Andbank announces the launch of Actyus Hospitality Fund II, a new investment vehicle with €200 million in equity and debt, aimed at acquiring five to six three- and four-star hotels in Spain. The fund targets the Balearic Islands, the Canary Islands and the Costa del Sol, building on the previous Atalaya vehicle, launched in 2020 with Navis Capital and THB Hotels.
Business
Transaction, Thailand | The Savetsomphob family acquires Staybridge Suites Bangkok Sukhumvit, advised by JLL
JLL Hotels & Hospitality Group announces it has advised the Thai Savetsomphob family on the leasehold acquisition of Staybridge Suites Bangkok Sukhumvit, a 411-room IHG-branded property, sold by Origin Hotel PLC. This marks the fourth collaboration between JLL and this family of investors, in a Bangkok market still driven by demand for well-located international hotel assets.
Business
Finance, France | Edgar Suites completes €180 million bank refinancing for its premium serviced apartment residences
Edgar Suites, developer and operator of upscale apart-hotels, announces a €180 million bank financing arranged with Crédit Agricole CIB, BNP Paribas and Company Générale, with tax advisory support from law firm Arsene. The deal covers ten assets, seven in France and three in Spain, and is set to support the Group's strategy of reaching 4,000 rooms in development and operation by 2030.
Business
Development, Portugal | In Comporta, Coporgest invests €220 million in the Iberian Peninsula’s first Park Hyatt
Portuguese developer Coporgest announces a €220 million investment in the Comporta Beach Resort, which will house the Iberian Peninsula's first Park Hyatt property. The contract, signed on 9 July after nearly four years of negotiation, runs for twenty years from opening, planned for the first quarter of 2029.
Business
Transaction, Spain | Meridia acquires landmark flex living asset in Madrid, sold by a consortium led by Bain Capital
Meridia announces the acquisition of a recently delivered flex living asset in Carabanchel, Madrid, from the joint venture formed by Bain Capital, Momentum REIM and Episode. Opened in April 2025, the 977-unit fully furnished property remains managed by Episode, a leading Spanish operator in this fast-growing neo-hospitality segment.
Business
Finance, Italy | Arsenale Group successfully places €300 million senior secured bond
Arsenale Group, owner of the Orient Express hotels in Italy, announces the successful placement of a €300 million senior secured bond, intended to fund its 2026-2030 strategic plan. The transaction, listed on the Vienna Stock Exchange, complements new equity contributed by shareholders and will notably enable the buyback of preference shares issued in 2022 to Oaktree Capital Management.
Business
Distribution, International | Booking Holdings merges the B2B operations of Booking.com, Agoda and Priceline
Booking Holdings is consolidating the B2B operations of its three main brands into a single entity, Booking Partner Services, led by Agoda's CEO. A break with the Group's tradition of brand independence, aimed at better competing with Expedia's B2B offering.
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Business
United States | TKO Hotels offers €1.7bn for Service Properties Trust’s 92 hotels
TKO Hotels, a hotel owner based in Aberdeen, South Dakota, announced on 9 October an unsolicited all-cash offer of around €1.7bn to acquire the 92 hotels held by listed REIT Service Properties Trust (SVC). The deal would cap almost seven years of disposals that have sharply reduced the hotel exposure of a vehicle once entirely dedicated to hospitality.
Ouvertures & projets
2027, Germany | Novum Hospitality, IHG and HD Hotels sign four hotels in Dortmund
Novum Hospitality, IHG Hotels & Resorts and property company HD Hotels have concluded agreements covering four hotel projects in Dortmund, totalling 429 rooms and scheduled to open in 2027. The package combines the return of three existing hotels to Novum's portfolio with a new-build project, all set to join the Garner and Holiday Inn - the niu brands. It marks a further step in the franchise partnership that has linked the Hamburg-based group with IHG since 2024.
Business
United States | In Chicago, UNITE HERE Local 1 launches strike at six hotels on the eve of the marathon
Staff at six downtown Chicago hotels, including the Palmer House Hilton, the Waldorf Astoria and the Sheraton Grand Chicago Riverwalk, walked out on Friday 9 October 2026 at the call of the UNITE HERE Local 1 union. The action comes during Chicago Marathon weekend, one of the busiest periods of the year. It forms part of negotiations covering more than 7,000 workers across 46 hotels in the city.
Personnel Moves
New York, United States | Nicholas Untermann appointed General Manager of Viceroy Park Avenue
Viceroy Hotels & Residences has appointed Nicholas Untermann General Manager of Viceroy Park Avenue, the brand's future New York flagship, scheduled to open in February 2027 in the NoMad district. A veteran of Terranea Resort and Beverly Wilshire, A Four Seasons Hotel, he joins the pre-opening team of a project that marks Viceroy's return to Manhattan.
