{"id":27614,"date":"2016-09-28T19:17:43","date_gmt":"2016-09-28T12:17:43","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=27614"},"modified":"2016-09-28T17:30:24","modified_gmt":"2016-09-28T10:30:24","slug":"bin-otaiba-investment-group-buys-hyatt-regency-birmingham","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bin-otaiba-investment-group-buys-hyatt-regency-birmingham\/","title":{"rendered":"Bin Otaiba Investment Group buys Hyatt Regency Birmingham"},"content":{"rendered":"


\nSharjah’s Bin Otaiba Investment Group has expanded its hotels portfolio with the purchase of Hyatt Regency Birmingham.The company paid \u00a338.6 million (Dh184m) to New York-listed Hyatt Hotels for the property. It plans to spend another \u00a32.7m to renovate the property over the next three years. The hotel will retain its Hyatt Regency branding through a management agreement. The four-star hotel is located close to the Centenary Square in Birmingham. The 319-room property has three food and beverage outlets. The sale was part of Hyatt’s asset recycling strategy, according to Steve Haggerty, Hyatt’s global head of capital strategy, franchising and select service. It involves selling selected hotels but maintaining brand presence through agreements with the new owners, and reinvesting proceeds from sales into new hotels and expansion.Bin Otaiba, which owns the Hilton Sharjah, the Millennium Hotel Abu Dhabi and Embassy Suites Hotel in Sharjah, is building a five-star hotel on Abu Dhabi’s Saadiyat Island. In the past year, the UAE companies have ramped up their presence in overseas hotel sector. In February, the Dubai conglomerate Al Habtoor Group acquired the 138-room historic Hotel Imperial in Vienna from New York-listed Starwood Hotels and Resorts for US$78.8m.Last year, hypermarkets operator Lulu Group International paid \u00a3110m for Great Scotland Yard in London, which it plans to turn into a luxury hotel.The total investment by Middle Eastern investors in Europe’s hotel sector in 2014 and 2015 was \u20ac4.7 billion (Dh19.3bn), according to the research company CBRE.ssahoo@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Bin Otaiba Investment Group buys Hyatt Regency Birmingham<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sharjah’s Bin Otaiba Investment Group has expanded its hotels portfolio with the purchase of Hyatt...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-27614","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-7bo","jetpack-related-posts":[{"id":7288,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hyatts-new-200m-hotel-ready-for-2018\/","url_meta":{"origin":27614,"position":0},"title":"Hyatt's new $200m hotel ready for 2018","date":"March 9, 2016","format":false,"excerpt":"\r PM John Key and executives from China's Fu Wah this morning have met at the site of Auckland's new $200m Park Hyatt, to be built at the Wynyard Quarter.Madam Chan Laiwa, Fu Wah founder, accompanied Key onto the site to the call...\r \r Source : nzherald.co.nz\/Property\r Read more...Hyatt's new\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38889,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adia-sells-off-a-slew-of-hotels-in-australia\/","url_meta":{"origin":27614,"position":1},"title":"Adia sells off a slew of hotels in Australia","date":"December 22, 2016","format":false,"excerpt":"\r The Abu Dhabi Investment Authority (Adia), the world's third-largest sovereign wealth fund, has sold 15 hotels in Australia to the French hotel owner and operator AccorHotels for AUD$200 million, the French hotel operator said yesterday.A wholly owned subsidiary of Adia involved in the transaction offloaded the Ibis and Ibis\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71489,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hyatt-ceo-says-airbnb-has-actually-helped-the-hotel-giant-grow\/","url_meta":{"origin":27614,"position":2},"title":"Hyatt CEO says Airbnb has actually helped the hotel giant grow","date":"November 10, 2017","format":false,"excerpt":"\r Airbnb has been a disruptor in travel and hospitality, but the CEO of Hyatt Hotels said it has made his business stronger.\r \r Source : cnbc.com\r Read more...Hyatt CEO says Airbnb has actually helped the hotel giant grow","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":154978,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hyatt-eyes-middle-east-growth-as-q1-revenues-increase\/","url_meta":{"origin":27614,"position":3},"title":"Hyatt eyes Middle East growth as Q1 revenues increase","date":"May 31, 2025","format":false,"excerpt":"\r Hyatt looks to triple Saudi portfolio of hotels as it eyes growth in the Middle East\r \r Source : arabianbusiness.com\r Read more...Hyatt eyes Middle East growth as Q1 revenues increase","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/05\/Hyatt-Middle-East-1000x664-1.jpg?fit=1000%2C664&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":150988,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-det-inks-new-deal-with-hyatt-to-boost-global-visibility\/","url_meta":{"origin":27614,"position":4},"title":"Dubai DET inks new deal with Hyatt to boost global visibility","date":"April 12, 2025","format":false,"excerpt":"\r According to the MoU, Hyatt hotels in Dubai will participate in DET initiatives including familiarisation trips, study programmes and events to attract visitors from 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