Hotels, Motels & Cruise Lines

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Action Hotels PLC announces acquisition of ibis Budget hotel at Melbourne

Wednesday, 1 Jul 2015

Action Hotels PLC:Has agreed to acquire business and assets of 73 room ibis Budget hotel at Melbourne Airport, Australia, for $8.8 mln (acquisition).Acquisition will be seventh ibis branded hotel in the Group's operating portfolio, and second ibis hotel the Group owns and operates in Melbourne, Australia.During year ended Dec. 1, 2014 hotel averaged 89.8% occupancy and contributed EBITDA of $1 mln.Acquisition will be immediately earnings enhancing for the year ending Dec. 31, 2015 and thereafter.Acquisition also brings with it opportunity to develop or further extend existing hotel on acquired land in future.

Rosedale Hotel says possible acquisition is still under discussion

Tuesday, 30 Jun 2015

Rosedale Hotel Holdings Ltd:Possible Acquisition is still under discussion and negotiation by the parties to the Framework Agreement.


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