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Yamaha Motor makes strategic investment in Grab
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Trimb acquires Netherlands-based BioClin BV
10 - 15 December 2018
Altria to invest USD $1.8 bin in Cronos Group
Radisson Hotel Group announce the opening of Radisson Suzhou
Arla Foods to acquire Kraft Cheese business in Middle East & Africa from Mondelēz
Tivity Health to acquire Nutrisystem for $1.3 bn
IPAWEEK
ACON Investments acquires International Imaging Materials
Healthcare
FICO acquires GoOn to advance growth in Brazil
Altus Power acquires Multistate portfolio of Solar Assets
iAero Group to acquire Swift Air
IT-BPM
IBM and IIT Delhi collaborate to advance AI research in India
Infrastructure
CenturyLink expands its data center in Santiago de Chile
MathWorks expands in Ireland
Yamaha Motor Makes Strategic Investment in Grab
Universal Logistics Holdings acquires Container Connection
Bausch Health to acquire Synergy Pharmaceuticals business assets
Engineering
FrieslandCampina announced the acquisition of Millán Vicente
Hotel Indigo debuts in Manchester’s vibrant city centre
Tourism
Food
Hyatt Hotels Corporation announced the opening of Hyatt Regency Seattle
Emerson acquires Advanced Engineering Valves
Altria to invest USD $1.8 billion in Cronos Group
Barry Callebaut acquires Burton's Biscuit's UK chocolate factory
AgJunction signs long-term agreement with Mahindra
ProChem & Greenwell merge their Specialty Chemical Businesses
A New Radission Blu for Moscow
ADB, India sign $31 million loan to develop Tourism, in Tamil Nadu
Analytic software firm FICO announced it has acquired GoOn LLC, a leading credit risk management consulting firm based in Brazil. The transaction has closed. Terms have not been disclosed, and the transaction is not expected to have a material impact on FICO’s 2019 financial results. Founded in 2002, GoOn provides risk consulting for the entire consumer credit lifecycle, and has hundreds of customers in banking, retail, credit cards, student lending, insurance and real estate. Additionally, the firm has trained more than 12,000 credit management professionals at Brazilian companies. The GoOn consultants and other staff will continue as part of FICO. “Our mission is to promote the evolution of credit management in Brazil, combining technical and human knowledge to produce positive social and financial impacts,” said Fernando Manfio, founder of GoOn. “As part of FICO, the worldwide leader in analytic solutions for financial services, we will bring even greater technical depth to Brazilian credit grantors, as well as more advanced analytics. We will play an even greater part in making the Brazilian credit market more mature and successful, and will keep acting with the same connection and trust, and an even better consulting methodology in the credit market.”
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IBM and IIT Delhi announced that the university will join the AI Horizons Network as part of a multi-year research collaboration on artificial intelligence (AI). The aim is to discover novel AI techniques which can help organizations take informed decisions by being able to logically reason with their AI systems. AI solutions will be trained to comprehend complex questions using natural language techniques and derive new insights using domain knowledge. IBM researchers will partner with students and professors from the Department of Computer Science and Engineering at IIT Delhi to address this issue and conduct joint research to inculcate in AI systems some key traits like reasoning, comprehension and inferencing. For example, a procurement analyst may not be able to decide the right price for a commodity based on the recommendations shared by a trained AI assistant without knowing why it made those suggestions. The research will benefit sectors such as Healthcare and Medicine, Finance, and Customer support which deal with complex set of questions and require reasoning.“While working with AI systems, organizations require explicit reasoning and comprehension to reach a particular conclusion. We believe advancement in AI can tackle such problems,” said Michael Karasick, Vice President, Global Labs, IBM Research. “We are excited to collaborate with IIT Delhi to focus on this area of research and empower organizations to make informed decisions by infusing key characteristics like reasoning, comprehension and transparency in their AI systems.” Speaking on the relevance of collaboration Prof. V. Ramgopal Rao, Director, IIT Delhi, said “India has immense talent to accelerate innovation in AI and related technologies. We are happy to collaborate with IBM Research scientists and provide opportunities to our students and faculty colleagues to work on some of the complex problems around AI and apply the solutions to real-world scenarios.”
MathWorks today announced accelerated growth in its Ireland office, as it looks to fill over 20 current job openings. Established in Galway in late 2016, MathWorks Ireland also expects to fill 65 additional jobs in 2019. The office provides centralized sales and services support to the company’s operations throughout EMEA and is building the team with candidates offering IT experience and fluency in multiple European languages. Today, MathWorks staff in Galway are fluent in eleven languages, range in work experience from seasoned professionals to new graduates, and represent diverse geographical backgrounds, including long-term Galway residents, those who have relocated from cities like Dublin and Cork, and those originally from countries like Germany and Finland. Welcoming the investment, the Minister for Business, Enterprise and Innovation, Heather Humphreys TD said “I am delighted to see MathWorks expanding their operations in Galway, and I thank them for their continued investment in Ireland. We have a strong footprint of innovative ICT businesses investing in Ireland, and we have the IT specialists and multilingual talent available to enable the company to grow and to embed their operations here. Their expansion is a great vote of confidence in what we have to offer, and I wish them well for the future” Commenting on today’s announcement Martin Shanahan, CEO, IDA Ireland said “We are confident Ireland can meet MathWorks Galway’s expansion needs given our proximity to the European Market, the steady pipeline of talent spanning professionals and students, and our investments in economy and infrastructure.” MathWorks opened the Galway office with an initial focus on sales and support job functions to support the EMEA region. Today, MathWorks Ireland spans customer-facing roles including sales and services support, inside sales, channel development and support, marketing, and finance and administration. Most recently, the office expanded to include a team of Customer Success Specialists who focus entirely on helping customers realize the return on their investment in MATLAB and Simulink.
MathWorks expands Ireland Presence with 85 job openings in Galway through 2019
Yamaha Motor Co., Ltd. and Grab Holding Inc., Southeast Asia’s leading online-to-offline (O2O) platform, announced that they have agreed to form a strategic partnership to collaborate in motorcycle ride-hailing service within the Southeast Asian region with a focus on Indonesia. As part of the partnership agreement, Yamaha Motor will invest US$150 million into Grab. Through this partnership, Yamaha Motor and Grab aim to develop next-generation mobility services by implementing solutions and innovations which 1) leverage Yamaha Motor’s technology and knowhow in motorcycle safety to enable safe and confident riding amongst Grab’s biker-partners in response to motorcycle ride-hailing service demand with the aim of increasing user satisfaction and 2) lower the barriers to motorcycle purchasing for those engaged in (or considering to engage in) motorcycle ride-hailing. As part of the 2030 Long-Term Vision which Yamaha Motor announced on December 11, and under the banner of “ART for Human Possibilities,” this partnership leverages robotics technology (Advancing Robotics), addresses social issues through initiatives in the unique style of Yamaha (Rethinking Solution), and promotes innovations in mobility (Transforming Mobility). In doing so, it aims to expand the field of human potential and create a better society and lifestyles. Grab is one of the most frequently used mobile O2O platforms in Southeast Asia, providing everyday services that matter most to consumers. Today, the Grab app has been downloaded onto over 125 million mobile devices, giving users access to over 8 million drivers, merchants and agents. Grab has the region’s largest land transportation fleet and has completed over 2.5 billion rides since its founding in 2012. Grab offers the widest range of on-demand transport services in the region, in addition to food and package delivery services, across 235 cities in eight countries.
Tivity Health to acquire Nutrisystem for $1.3 billion
Tivity Health, Inc., a leading provider of fitness and health improvement programs, and Nutrisystem, Inc., a leading provider of weight management products and services, announced that they have entered into a definitive agreement under which Tivity Health will acquire all of the outstanding shares of Nutrisystem for a combination of cash and stock. The transaction values Nutrisystem at an enterprise value of $1.3 billion and an equity value of $1.4 billion. The combined company will be unique in offering, at scale, an integrated portfolio of fitness, nutrition and social engagement solutions to support overall health and wellness. Through this expanded portfolio, Tivity Health will be better positioned to address weight management – a major factor contributing to many chronic diseases. The diversification of Tivity Health's portfolio and increased scale will benefit all the company's stakeholders – including health plans, fitness partners, members and consumers – as these offerings support healthier lifestyles and can lower medical costs. Tens of millions of Americans are currently eligible for Tivity Health's SilverSneakers®, Prime® Fitness, WholeHealth Living™and flip50™ programs, and millions of people have lost weight with Nutrisystem's products, including Nutrisystem®, South Beach Diet® and DNA BodyBlueprint™. This transaction will also create meaningful value for Tivity Health's shareholders through the addition of a new independent revenue stream, cost and revenue synergies, and significant potential growth opportunities. The combination of Tivity Health's and Nutrisystem's highly trusted brands and strong marketing and data analytics expertise will allow the combined company to increase awareness and member enrollment and engagement across all consumer audiences. The acquisition of Nutrisystem will further elevate Tivity Health as a leading health and wellness company offering comprehensive fitness, nutrition and social engagement solutions. Based on the financial results for both companies for the 12 months ended September 30, 2018, pro forma revenue would have been approximately $1.3 billion, net income would have been approximately $135 million and adjusted EBITDA would have been approximately $223 million. See the table appended to this release for a reconciliation of non-GAAP financial measures.
Synergy Pharmaceuticals Inc. a biopharmaceutical company focused on the development and commercialization of novel gastrointestinal (GI) therapies, announced an agreement with Bausch Health Companies Inc., through which Bausch Health would acquire substantially all of Synergy's assets, including all rights to TRULANCE® (plecanatide), dolcanatide and related intellectual property, for approximately $200 million in cash, subject to certain adjustments at closing, plus the assumption of certain liabilities related to the assets to be acquired. The sale is subject to a competitive process and the Company's receipt of higher and better offers. To facilitate the sale and address its debt obligations, Synergy initiated voluntary proceedings under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. The Company fully intends to operate its business as usual while it works to complete the sale through the Chapter 11 process. "We have worked diligently to serve our patients, health care professionals and other stakeholders by bringing TRULANCE® to market and developing other GI therapies to address previously unmet needs. Unfortunately, we have now reached a point where our financial challenges are preventing us from taking this important work to the next level," said Troy Hamilton, Chief Executive Officer of Synergy Pharmaceuticals Inc. Synergy has entered into a binding term sheet with its existing first lien lenders for debtor-in-possession (DIP) financing in an aggregate principal amount equal to $155 million, comprised of $110 million of roll up pre-petition loan obligations and $45 million of new money loans to support operations during the Chapter 11 and sale process. This financing, combined with existing cash on its balance sheet and normal operating cash flows, will allow Synergy to operate its business as usual and help fund its ongoing financial commitments while it works to complete the sale. The Company also has filed customary motions with the Court seeking authorization to continue employee wages and benefit programs, honor future vendor payments and maintain customer programs in the normal course in addition to certain other relief.
Trimb Healthcare has completed the acquisition of BioClin BV, a leading intimate healthcare company based in Delft, Netherlands. The BioClin portfolio includes several well-known, all-natural brands, such as Multi-Gyn, a leading intimate product line treating vaginal discomforts, and Multi-Mam, an innovative product line for breastfeeding mothers. BioClin's brands are rapidly-growing, and today are sold in pharmacies and drugstores in over 60 countries worldwide. Multi-Gyn and Multi-Mam are established, highly-trusted brands that are widely-regarded by consumers and healthcare practitioners alike for the quality and efficacy. BioClin products are based on the patented 2QR-complex, a scientifically-proven ingredient. Floris Koumans, the founder and former majority owner of BioClin commented, "BioClin has grown tremendously and become the largest company in my group of companies. I'm excited we decided to partner with Trimb as they share a mindset like ours. They have a strong ambition, and the infrastructure and resources to continue to build our products around the world."
ACON Investments, L.L.C. and its affiliates announced the acquisition of International Imaging Materials, Inc. ("IIMAK"), a global developer and manufacturer of value-added consumable solutions for industrial and medical applications, from Altus Capital Partners. Headquartered in Amherst, New York, with additional operations in Belgium, Brazil and Mexico, IIMAK is a leading developer and manufacturer of Thermal Transfer Ribbons, Direct Thermal Films and Fluid Inks used to print on-demand variable information such as bar codes, text and graphics in Automatic Identification, Packaging, and Graphics markets. In addition, medical applications, such as orthopedic braces, sterile supplies, compression devices, and patient mobility products, are provided through iiMED Medical Manufacturing Solutions, a division of IIMAK. Doug Wagner, IIMAK President and Chief Executive Officer, said, "We look forward to working with ACON in the coming years. In addition to ACON's experience and resources, we believe ACON has the global reach that will help us accelerate our existing organic and acquisitive growth strategies." Anjali Jolly, Partner at ACON, commented, "We are excited to collaborate with the IIMAK management team and provide the company the resources it needs to maintain its strong position in its core markets and to accelerate IIMAK's growth and diversification initiatives." John Roush, who has served as an advisor to ACON and will serve as IIMAK Chairman of the Board, said, "I look forward to working with ACON and IIMAK's current leadership team to continue to drive growth at the company and execute its strategic plan." With more than 25 years of experience as a CEO and senior executive in companies such as Novanta, PerkinElmer, Honeywell and General Electric, Mr. Roush brings specific operating expertise in IIMAK's key markets such as thermal printing, auto ID/data capture and medical products.
Altria to invest USD 1.8 billion in Cronos Group
Altria Group, Inc. announced that it has entered into an agreement to acquire newly issued shares in Cronos Group Inc., a leading global cannabinoid company, headquartered in Toronto, Canada. The transaction represents a 45% equity stake in Cronos Group, at a price of CAD $16.25 per share, for an aggregate investment by Altria of approximately USD $1.8 billion. “Investing in Cronos Group as our exclusive partner in the emerging global cannabis category represents an exciting new growth opportunity for Altria,” said Howard Willard, Altria’s Chairman and Chief Executive Officer. “We believe that Cronos Group’s excellent management team has built capabilities necessary to compete globally, and we look forward to helping Cronos Group realize its significant growth potential.” “Altria is the ideal partner for Cronos Group, providing the resources and expertise we need to meaningfully accelerate our strategic growth,” said Mike Gorenstein, Cronos Group’s Chairman, President and Chief Executive Officer. “The proceeds from Altria’s investment will enable us to more quickly expand our global infrastructure and distribution footprint, while also increasing investments in R&D and brands that resonate with our consumers. Importantly, Altria shares our vision of driving long-term value through innovation, and we look forward to continuing to differentiate Cronos Group in this area.” This investment positions Altria to participate in the emerging global cannabis sector, which it believes is poised for rapid growth over the next decade. It also creates a new growth opportunity in an adjacent category that is complementary to Altria’s core tobacco businesses.
Barry Callebaut acquires Burton's Biscuit UK chocolate factory
Long-term agreement for the supply of over 12,000 tonnes of chocolate and compound per year to Burton’s Biscuit Company Acquisition of the chocolate manufacturing assets of Burton’s Biscuit Company in Moreton, Wirral, near Liverpool (UK) After signing an agreement with Burton's Biscuit Company, the UK's second biggest biscuit manufacturer, for the long-term supply of over 12,000 tonnes of chocolate and compound per year on September 19, 2018, Barry Callebaut, the world's leading manufacturer of high-quality chocolate and cocoa products, announced it had now successfully closed the transaction with Burton's and acquired the chocolate manufacturing assets of their factory in Moreton, Wirral, near Liverpool (UK), following completion of the regulatory approval and closing conditions. The integration of the factory in Moreton into the Barry Callebaut network will start as of now.
The Dutch Royal FrieslandCampina N.V., a global dairy company announced the acquisition of Spain based cheese co-packer and distributor Millán Vicente. The deal will further strengthen FrieslandCampina’s position in supplying cheese to Spanish and Portuguese consumers. Roel van Neerbos, President FrieslandCampina Consumer Dairy: “For decades, cheese products of FrieslandCampina have found their way to consumers and customers in the Iberian peninsula. With this acquisition, combining the local commercial expertise and flexibility of Millán Vicente we can further grow, innovate and strengthen our product offering for consumers and customers, in Spain and Portugal.” Millán Vicente is one of the leading Spanish cheese co-packing and distribution companies based in Zaragoza, a main logistical hub in Spain. The company was founded in 1995 by its current CEO Antonio Millán and provides a wide variety of cheeses to modern retail. Millán Vicente has been an important partner of FrieslandCampina in Spain for many years.
FrieslandCampina announced the acquisition of Spain based Millán Vicente
Mondelēz International, Inc. announced that it has reached an agreement to sell its Kraft-branded Cheese Business in Middle East and Africa(MEA) to Arla Foods of Denmark. Financial details of the transaction will not be disclosed. The move enables Mondelēz International to focus on its newly-announced strategic plan to drive top-line growth and generate attractive returns, centered around three priorities: accelerate consumer-centric growth, drive operational excellence and build a winning growth culture. Under this plan, the company will continue to focus on faster-growing snacks categories, including its core Chocolate, Biscuits, and Gum & Candy offerings. “We’re very proud to have been the custodians of the Kraft Cheese brand in recent years. Our talented teams have been instrumental to the success of our Cheese business in this region and I am confident that they will continue contributing their significant expertise under new owners. The time is right for the brand to take the next step in its journey and we are very happy to hand over this successful business to Arla Foods,” said Maurizio Brusadelli, EVP and President, Asia Pacific, Middle East, and Africa (AMEA) for Mondelēz International. Executive Vice President of Arla Foods’ International business, Tim Ørting Jørgensen, said: “We are pleased to welcome this successful business into the Arla family. We have an established and growing business in the Middle East and know our consumers and customers well in this part of the world. As such, this deal is an excellent strategic fit for us as it enables us to both expand our branded presence in the cheese category and secure the local production capacity we have been looking for to continue to grow our business.”
Arla Foods to acquire Kraft Cheese Business in Middle East and Africa from Mondelēz
AgJunction Inc., the Autosteering Company, announced that it has entered into a framework development agreement with Mahindra & Mahindra Ltd. ("Mahindra"). Under the agreement, the parties will jointly prepare statements of work for future development products that will outline specific deliverables and detailed commercial terms. The framework agreement gives Mahindra access to AgJunction's world class engineering team and technology. AgJunction secures a solid relationship with the world's largest tractor company by volume and would gain access to Mahindra's unmatched supply chain and penetration into Asia and other strategic markets. "Working together with the world's largest tractor company will potentially create great opportunities toward our mission to expand our offerings to all farmers," said Dave Vaughn, president and CEO of AgJunction. "And it further strengthens our commitment to making our technology low-cost, simple-to-use and easily accessible to all farmers worldwide through our indirect channel partners—OEMs, VARs, and technology licensees—and our direct-to-farmer channel via Handsfreefarm.com."
ProChem Energy Services, Inc. announced its acquisition and merger of the Greenwell Energy Solutions' specialty production chemical division. The combined customer base will benefit from the expanded team of field service personnel, larger geographic footprint and enhanced suite of capabilities. The merged business will operate under the ProChem Energy Services brand. Greenwell's production chemical division provides comprehensive treatment services to optimize well production. Its in-house chemical manufacturing, blending and laboratory services enables customized solutions for clients' specific applications. "Greenwell offers an exciting opportunity for ProChem to strengthen and expand its service offering for our customers," explains John Turner, founder and CEO of ProChem Energy Services. "With the acquisition of Greenwell, ProChem has further positioned itself to meet future growth requirements while providing the best customer service and product solutions in the oil patch." With the acquisition, ProChem now operates multiple facilities across Oklahoma, Texas, New Mexico and Louisiana. Customers can leverage the integrated teams, field service and support with access to an expanded portfolio of products and services. As the two companies integrate, ProChem will unveil its more comprehensive website to include a larger suite of solutions and capabilities.
ProChem & Greenwell announce the merger of their Specialty Chemical Businesses
Emerson announced it has acquired Advanced Engineering Valves, a leading manufacturer of innovative valve technology that helps LNG customers operate more efficiently. The transaction will enable Emerson, a global leader in automation solutions and technology, to provide its customers with the world’s broadest portfolio of valves to improve process performance and reliability. Terms of the deal were not disclosed. The addition of A.E. Valves supports Emerson’s Main Valve Partner™ initiative to be the premier supplier of final control solutions for the LNG industry, and complements its Vanessa triple-offset valve range to create a single technology leader for process isolation in critical cryogenic and severe service applications. Both Emerson and A.E. Valves are focused on innovating to deliver superior technology that helps customers achieve project delivery success and operational excellence in their end markets. A.E. Valves is a leader in torque-seated, friction-free, zero-leakage ball valve technology that drives performance, cost and reliability improvements over traditional ball valves. This technology is a strong complement to Emerson’s portfolio of solutions that help customers achieve Top Quartile performance. “Adding A.E. Valves makes Emerson’s value to customers along the entire global LNG value chain even more compelling as a single, accountable partner for all of their valve needs,” said Lal Karsanbhai, executive president of Emerson Automation Solutions. “Our expanded portfolio of leading valve technology will help customers unlock greater capital efficiency and asset productivity as they embark on a wave of investment to meet rising global energy demand.” A.E. Valves is headquartered in Verviers, Belgium, and has a nearly 10-year track record as a valve manufacturer at the leading edge of innovation. Its breakthrough ball valve design creates a step change in safety, environmental and performance outcomes for the LNG industry, as well as oil and gas, chemical, and petrochemical customers.
Universal Logistics Holdings, Inc., a leading asset-light provider of customized transportation and logistics solutions, announced its acquisition of Deco Logistics, Inc. (which conducts business as Container Connection) and Oaktree Logistics, Inc. (collectively "Container Connection"). Concentrating on the retail and manufacturing industries, Container Connection has been providing full-service harbor drayage to the Ports of Los Angeles and Long Beach, California for more than 25 years. Headquartered in Riverside, California, Container Connection offers its drayage services by utilizing a network of over 230 independent contractors to customers that are primarily located within the Inland Empire and Central Valley areas. Container Connection also offers warehousing, secured parking and yard space at its 18.5-acre facility. Container Connection will operate as a subsidiary of Universal Intermodal, Inc., and the transaction is expected to be immediately accretive. "It's been quite an exciting year for Universal," stated Jeff Rogers, Universal's Chief Executive Officer. "Container Connection represents the fourth strategic acquisition we have made in the intermodal space in 2018, and we continue to actively review other strategic acquisition opportunities. Complementing our local drayage service to the Ports of L.A. and Long Beach, the acquisition of Container Connection ties together the Inland Empire for a comprehensive Southern California intermodal strategy. I am so very excited to welcome Container Connection to the Universal family of companies. This newest addition provides us, and our customers, a meaningful presence in one of the largest transportation markets in the world."
Altus Power America, Inc. has completed the acquisition of a multistate portfolio of operating rooftop and carport solar assets. The 2.2 megawatt (MW) DC portfolio of solar energy systems sell clean, renewable energy to offtakers including a charter school and private corporations in the states of Colorado, New Jersey and New Mexico. Altus acquired the portfolio from a prominent renewable energy services provider specializing in distributed generation solar projects. “Altus Power is pleased to have worked with the seller to accommodate an expeditious and successful closing. We are excited to have expanded Altus’ footprint into new jurisdictions,” said Adam Constantinides, Associate of Altus Power. Managing Partner of Altus, Gregg Felton added, “Altus Power is focused on aggressively expanding its solar portfolio by both developing greenfield and acquiring operating solar projects. As a long-term owner with an exclusive focus on solar assets, we believe Altus is particularly well positioned to acquire complex portfolios of distributed generation solar assets across the country.”
Global communications and IT provider CenturyLink, Inc. adds a new module to its existing data center infrastructure in Santiago, Chile , expanding its extensive regional offer of colocation services, hosting, cloud computing, security, collaboration, communication and managed services for your current and future clients. "Located in Huechuraba, north of the Chilean capital, Santiago , and close to customers, with 7x24 access and state-of-the-art security systems, this new data center was built to optimize energy efficiency and space," commented Gabriel del Campo , vice president of data center and security at CenturyLink in Latin America. "By adopting this approach, we were able to have the installation operational in less time, an important benefit for customers eager to take advantage of our data center services." The new data center in Chile is incorporated as part of the 18 data centers that the company has in Latin America and its extensive global infrastructure, with direct connectivity to approximately 720,000 kilometers of fiber network. The data center will provide customers with processing environments with high levels of availability, better quality access and greater speed with the rest of the world. The new facility also offers customers diversity of fiber routes for the implementation of contingency environments.
iAero Group, a leading integrated aviation business, has signed a definitive agreement to purchase Swift Air, the leading independent US airline charter business. The transaction is subject to regulatory approvals and is expected to close in Q1, 2019. With the pending acquisition of Swift Air, iAero Group will add to its portfolio of aviation businesses acquired since its inception earlier this year including the leading engine MRO and leasing company, AeroThrust and airframe MRO AeroTech. iAero Group is headquartered in Miami along with its MRO service businesses on a campus with more than 350,000 square feet of office and MRO space at Miami International Airport. "Bringing Swift Air into the iAero Group creates an integrated aviation services platform and will enable the airline to leverage our capabilities to further their already exemplary customer service and impeccable safety record through access to our high quality, efficient, stateside maintenance services," says iAero Group Chief Executive Officer, Robert Caputo. "In addition, with our aircraft acquisition capabilities in our engine and airframe leasing division we have developed a pipeline of assets that will allow Swift Air to meet its customers growth needs in a manner that is unmatched in the industry."
Hyatt Hotels Corporation announced the opening of Hyatt Regency Seattle, located in the heart of downtown at 808 Howell Street and near some of Seattle’s top attractions including the Space Needle, Chihuly Garden and Pike Place Market. With its sprawling, dynamic event space and number of guestrooms, Hyatt Regency Seattle is the largest hotel in the Pacific Northwest and new premier destination for meetings and events in the region. It joins two other Seattle-area Hyatt Regency hotels and offers a one-stop experience that puts everything guests need right at their fingertips. The 45-story hotel features 1,260 guestrooms, all of which are furnished with floor-to-ceiling windows, sizeable modern bathrooms, 65-inch TVs and a collection of black-and-white photography, shot by six Seattle-based photographers, highlighting the natural beauty of the Pacific Northwest region. The hotel also offers guests a StayFit® Fitness Center, outfitted with Peloton bikes and other Technogym state-of-the-art cardio and strength equipment, and an expansive Hyatt Regency Club lounge with fire pits and wraparound patio that provides guests with stellar views of downtown Seattle. Located just two short blocks from the Washington State Convention Center and adjacent to The Summit, the planned convention center expansion building slated to open Spring 2022, Hyatt Regency Seattle offers more than 103,000 square feet of dynamic meeting and event space for a variety of gatherings, ranging from intimate meetings to larger conferences and weddings. “Progress is all around us,” says Hyatt Regency Seattle General Manager Tom Wolf. “No other addition to Seattle’s vastly updated cityscape is more important for Seattle tourism than the new, very visible contemporary building right in the middle of town: Hyatt Regency Seattle. With the opening of the largest hotel in the Pacific Northwest this year, Seattle will finally have the meeting space options it needs.”
Radisson Hotel Group announce the opening of Radisson Suzhou, a stylish and contemporary new hotel that will elevate the quality of upscale accommodation in Suzhou, the historic city in eastern China's Jiangsu province. Developed by Suzhou Zheng He Investment Co., Ltd, this newly-constructed hotel forms part of a mixed-use development with an office tower. It is strategically located in the Suzhou Science and Technology Town, also known as Suzhou New District, which houses emerging industries such as high-tech innovation and new energy. Radisson Suzhou offers a collection of 138 modern rooms and suites, an all-day dining restaurant, a specialty Chinese restaurant, sophisticated lounge, well-equipped 24-hour fitness center, and complimentary Wi-Fi. Catering to the MICE segment, the hotel features 667 square meters of flexible function space that is able to host corporate events and social functions. The hotel is easily accessible via two airports; Wuxi Shuofang Airport, which is a 30-minute drive away, and Shanghai Hongqiao Airport, which lies 90 minutes from the hotel. “We are delighted to celebrate the launch of Radisson Suzhou in tandem with our esteemed partner, Suzhou Zheng He Investment Co., Ltd. Mainland China is a key area of focus for Radisson, our world-renowned upscale brand, which is perfectly suited for the country’s fast-growing second and third tier cities such as Suzhou. I am confident that Radisson Suzhou will become a popular place to stay for business and leisure travelers in this captivating city,” said Gary Ye, Vice President, Operations, China, Radisson Hotel Group. Radisson is one of the world’s leading upscale hotel brands, delivering vibrant, contemporary and engaging hospitality that is characterised by its unique Yes, I Can! service philosophy.
ADB, India sign $31 million loan to develop Tourism, in Tamil Nadu, India
The Asian Development Bank (ADB) and the Government of India signed a $31 million loan agreement to build up the state tourism industry and boost visitor arrivals. The signatories to the tranche 4 loan for Infrastructure Development Investment Program for Tourism (IDIPT) were Mr. Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs, Ministry of Finance, who signed for the Government of India, and ADB Country Director for India Mr. Kenichi Yokoyama, who signed for ADB. “The ADB-supported project in Tamil Nadu aims to make tourist sites more attractive, convenient, and safe for visitors,” said Mr. Khare after signing the agreement. “The increased tourism traffic generated by this project will generate extra jobs in Tamil Nadu, especially through skills training and community-based activities targeting the poor and women," said Mr. Yokoyama. Approved in September 2010, the $250 million IDIPT aims to build opportunities for local communities and boost local economy by enhancing tourism in three other states—Punjab, Himachal Pradesh and, Uttarakhand—besides Tamil Nadu. This will be achieved through developing and preserving sites of natural and cultural heritage, and building connectivity, capacity, and infrastructure around state tourist sites. The Government of India’s recent Three-Year Action Agenda (2017–2018 to 2019–2020) envisages the hospitality, travel, and tourism sector as a major driver of growth and employment. The agenda recognizes India’s significant potential to increase the number of arrivals, global presence by leveraging its cultural industries, and capacity to create large-scale jobs among the poorest segments of the population. It identifies key areas for action, including infrastructure, marketing, and skills development, all of which are aligned with the MFF road map.
Hotel Indigo Manchester – Victoria Station has opened its doors to guests, marking the brand’s debut in one of the UK’s largest cities. Famous for its cotton mills and its role in the industrial revolution, Manchester is a vibrant city that is rapidly expanding and regenerating, complementing its historical setting. The boutique hotel is located at the gateway to the Northern Quarter, Manchester’s creative heart, and is adjacent to Exchange Square, the city’s shopping district. Known for its bohemian bars, the Northern Quarter has a lively music scene, and includes bustling independent studios and shops. Guests can enjoy the laidback atmosphere come day and night, with a wide range of places to eat and drink. Hotel Indigo Manchester – Victoria Station features 187 stylish guest rooms, with design inspired by Manchester’s rich and colourful history. The exterior of the hotel is a beautifully restored Grade II listed building, featuring an eye-catching contemporary tower, providing fantastic views of the city’s skyline. The hotel’s three room designs combine Manchester’s industrial past with modern luxury and style. Raw materials feature throughout the hotel, such as bare brick walls in the reception, complemented by iron pulleys and rope connecting to lights which have bespoke weaved baskets as shades. The hotel will feature a restaurant and bar, Mamucium, headed by award-winning Mancunian chef Andrew Green. Named after the Roman fort that was the birthplace of modern Manchester, the 120-seat restaurant will serve a menu of classic, locally sourced food, topped off with a Northern spin. The venue’s centrepiece will be a stunning, silestone and brass bar area. There will also be a cosy café, M Café, within the restored building.
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A new Radission Blu for Moscow
Radisson Hospitality AB, publicly listed on Nasdaq Stockholm, Sweden and part of the Radisson Hotel Group, is pleased to announce the signing of the Radisson Blu Leninsky Prospect Hotel, Moscow in Russia. A collaboration with Sherwood Premier LLC, the 150-room property will bring the group’s portfolio in Moscow and its surrounding area to eight hotels and 2,260 rooms in operation or under development. Elie Younes, Executive Vice President & Chief Development Officer of Radisson Hotel Group, said: “This strategic project will further strengthen our leading position in Russia as well as Radisson Blu’s position as the largest upper upscale hotel brand in Europe. We’re thankful and grateful to our partners for the trust in our brand and people’’ The Radisson Blu Leninsky Prospect Hotel, Moscow will be an integral part of a mixed-use office and hotel complex and is set to open in 2021. It will feature 150 comfortable guest rooms that allow guests to relax in style, whether they’re visiting Moscow for business or leisure. The hotel will also offer state-of-the-art meeting facilities and a fitness and wellness center that will provide a variety of ways for people to keep fit or unwind. Visitors to the hotel will find top-quality food and drink facilities, with two restaurants and a lobby bar. Business guests will find themselves ideally situated for the growing business cluster that is developing rapidly in size and importance in the south-west of Moscow. Guests will have no trouble reaching the Radisson Blu Leninsky Prospect Hotel, Moscow, which is just 16km from Vnukovo International Airport and 9km from the city center.
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