Sultan of Brunei reportedly bids $2 billion for Pierre Hotel, threatening IHCL's Taj brand management contract. Plus other hotel deal and development news.
IHG Hotels & Resorts has surpassed one million open rooms across the globe, and reported earnings. Hyatt and Apple Hospitality also reported earnings. Accor might run an IPO for Ennismore. And other news.
The global hotel industry continues to expand, with IHG celebrating its 50th year in China while Mandarin Oriental plans a $100 million renovation in Hong Kong.