Development

Largest Resort on Dalmatian Coast Features Croatia’s First Anne Sémonin Spa, 13 Dining Options, and Gourmet Fresh Market

Global Hyatt Corporation announced that the company has changed its name to Hyatt Hotels Corporation.

The introduction of the InterContinental Residence Suites Dubai Festival City is a first for the group in the UAE market and is specially designed to cater to the needs of extended stay guests.

Blue City Company 1 (BCC1), the developers of phase one of Al Madina A’Zarqa, the most significant real estate infrastructure project in the Sultanate of Oman, has signed an agreement with InterContinental Hotels Group (IHG) for the development of a five star beachfront property, InterContinental Al Madina A’Zarqa.

The Rezidor Hotel Group (STO:REZT) announces the 50th hotel in operation and under development in Germany: The Radisson Blu Badischer Hof Hotel, Baden-Baden will be re-branded in July 2009 – adding 139 rooms to Rezidor’s rapidly growing portfolio.

Announces the Park Inn Ulysse Resort & Thalasso, Djerba – the first Park Inn in Tunisia and Rezidor’s 25th property on the African continent. The hotel featuring 259 rooms is scheduled to open its doors in November 2009.

The state now has 31 hotels that have been foreclosed on and 175 in default.

CB Richard Ellis (CBRE) Hotels announced that Pinnacle Hotels USA has acquired the 292-room Marriott Riverside for $19.3 million ($66,000 per room) from Sunstone Hotels (NYSE: SHO).

Radisson(R) Hotels & Resorts today announced the addition of the Radisson Our Lucaya Resort, Grand Bahama Island, a 740-room landmark resort located in the heart of Grand Bahama Island.

The Crowne Plaza Vilamoura, set to open in January 2010, will be the first Crowne Plaza hotel in Portugal. The historic deal is the first franchise agreement between IHG (InterContinental Hotels Group) and the Grupo Marope, a Portuguese property and hotel owning company. The hotel will create more than 200 jobs when it opens.