Mergers & Acquisitions

🏨 Thailand: Flight Centre Travel Group is selling its luxury brand, Cross Hotels & Resorts, to South Korea's Sono International. Cross operates 28 hotels in Thailand, Indonesia, Vietnam, and Japan from Bangkok. CEO Harry Thaliwal emphasizes regional growth and innovation with this partnership. The deal allows Flight Centre to focus on expanding Topdeck tours and Discova projects in Asia. Managing Director Graham Turner highlights future growth for Cross within Sono's expanding global reach.

📈 Essendi, a prominent hospitality company, sold five hotels in Buenos Aires and Mendoza to ISWM as part of its 2021 asset management strategy to focus on Europe. Now, 96% of Essendi’s portfolio is European. This move emphasizes profitability in the economy and midscale sectors. Despite the divestment, Essendi retains assets in Chile, Colombia, Mexico, and Peru, with ongoing investment reviews, suggesting further portfolio optimization in Latin America.

🏨 The European Hotel Fund acquired the 189-room Radisson Blu Marseille from Union Investment, marking its first French entry. The hotel, located in the Old Port, was renovated in 2024 with sustainable upgrades, achieving a BREEAM Very Good certification. It features 700 sqm of event space and operates under a long-term lease with Radisson, enhancing rental stability. This acquisition expands the fund's portfolio to eleven hotels across Europe, offering long-term growth in Marseille's economic hub.

🏖️ Seth and Tori Bolt, after a local protest in 2025, had to sell their short-term rental property. They relocated to Tennessee and contracted land for $12,500 per acre. Using $500, they raised $1 million via Instagram pre-bookings for their dream resort in five weeks. Seth, a musician with NEEDTOBREATHE, and Tori managed construction while Seth toured. They completed the mountaintop retreat just in time for the first guests.

🏠 King Street Capital Management UK, Cohort Capital, and Apollo funds secured a £348 million senior loan to refinance The Park Tower Hotel, located in Knightsbridge, London.

📰 Europe’s leading B2B travel tech publication, Travolution, acquired by Travelsoft through Eventiz, its subsidiary. Celebrating 20 years next month, Travolution joins Eventiz to form Travelsoft's Media & Events division. This follows Eventiz's 2024 acquisition. The deal aims to leverage synergies in journalism and events. Travelsoft's broad infrastructure includes Orchestra, Atcore, Travel Compositor, and TravelgateX. Christian Sabbagh, Travelsoft CEO, emphasizes the integration aligns with their strategy of uniting technology, content, and community.

🏨 Josiah Mackenzie and Andrew Arthurs are in Phoenix this week for The Lodging Conference, focusing on hotel owners and investors. Andrew Arthurs, President and COO of Actabl, discusses strategic approaches involving people, partnerships, and technology to enhance asset value.

💸 Travel software firm WeTravel, founded in 2014 in the Netherlands, has tripled its valuation after securing $92 million (€68 million) in Series C funding. Led by Sapphire Ventures, this investment will enhance its platform with AI-powered tools. CEO Ted Clements highlights the focus on streamlining complex workflows for multi-day travel. Other investors include Left Lane Capital and Base10. Previously, WeTravel raised $27 million under three years ago to expand its fintech solutions.

💰 EXTENDAM and Highgate have partnered to acquire the Hilton Porto Gaia, a 194-room, five-star hotel in Vila Nova de Gaia, Portugal. Opened in 2021, the hotel offers 47 suites, a restaurant, bar, spa, and a 350-seat auditorium. Managed by Highgate under the Hilton brand, the hotel holds an A-rated energy certificate and Biosphere Responsible Tourism certification. This marks the first collaboration between EXTENDAM and Highgate, aiming to leverage Porto's thriving market.