Hotels, Motels & Cruise Lines
Mandarin Oriental International Ltd:Announces that it is to acquire the Hotel Ritz, Madrid for 130 million pounds ($148 million) in a joint venture with The Olayan Group, a Saudi Arabian multinational group.Mandarin Oriental and Olayan will each hold a 50 pct interest in the joint venture, which is purchasing all of the shares in the owning company, Hotel Ritz Madrid, S.A., from its existing shareholders, Belmond Spanish Holdings S.L.U. and Landis Inversiones, S.L.
Genting Hong Kong Ltd:Completes acquisition of Crystal Cruises for total transaction of $550 mln.
IFA Hotel &Touristik AG:Acquires land for hotel construction in Dominican Republic.Purchase price of approx. 20 million euros would be financed from proceeds of capital increase resolved by AGM on July 17 2014.