AccorHotels

By the end of the year, the development of the luxury Varko Bay resort is expected to have begun at Palairos in western Greece.

A hotel unit of the Accor group's Banyan Tree chain will be built on the Varko Peninsula, as seen in this photo projection, while 30% of the area will host 45 branded residences that will be available for sale.

In partnership with the hotel chain Accor, Mogotel Hotel Group has launched its first two Ibis Styles hotels in Slovenia by rebranding Hotel Central and The Fuzzy Log in Ljubljana's city centre.

The largest hotel operator in the Baltic countries, Mogotel Hotel Group leased the two Ljubljana hotels in summer last year for 20 years for a combined €12 million.

At the end of 2018, there were a total of 10,249 star hotels in China, 843 of which are five-star hotels, according to a report by the country's Ministry of Culture and Tourism.

US investment fund Blackstone is set to carry out investments of 500 million euros in Greek hotel properties, starting in the next few days.

According to sources, the first acquisition in its Greek portfolio will concern units of a hotel chain with a significant presence in the Ionian and Aegean islands, in a transaction that is expected to come to almost 200 million euros.

The Esperia Palace, one of the few hotel units still up for grabs in the Athens city center, looks set to go to Israeli-owned tourism group Fattal, which according to sources has submitted the highest offer, amounting to 95,800 euros per month, in the context of the tender held on Wednesday for the operation of the hotel located between Omonia and Syntagma squares.

AccorHotels' move to take over Orbis has turned attention to Eastern Europe, as the French company looks to build on its dominance on the continent. 

The takeover offer was made as Orbis announced it was bringing the luxury boutique segment to Bulgaria under an AccorHotels brand, as interest in the country continued to build. 

The largest hotel chain in Eastern Europe - the Orbis group, will open their first hotel in Plovdiv. At the moment it runs through franchise sites in Sofia - ibis to the airport and Novotel on Tsarigradsko shosse Boulevard, reports money.bg

Piraeus Port Authority (OLP) is in the process of reaching out to Greek and foreign hotel groups for the development of four hotel units that form part of parent company Cosco's investment plans in Piraeus.

Sofia. The National Revenue Agency (NRA) has registered growth in turnover of businesses located in the Black Sea resorts in June 2018 compared to the same period last year, said the NRA.

French hotel group AccorHotels announced on April 30 that it has signed a deal to buy Switzerland's Mövenpick Hotels and Resorts for 560 million Swiss francs (467 million euros, $567 million).