CPPIB, Cinven check in to hotel ‘bedbank’ group

first_imgShane Feeney, managing director and head of direct private equity at CPPIB, said: “Hotelbeds is a unique opportunity to invest in the leading operator within the hotel accommodation distribution market, an industry that has strong long-term prospects that will support continued growth.”The bedbank business generates most of the Mallorca-based company’s profitability, with double-digit volume growth in both its hotel portfolio and room nights over the past five years.Jorge Quemada, partner at Cinven, said there were “considerable growth opportunities” in Asia, as well as through further investment in Hotelbeds’ IT systems.Quemada said the wholesale hotel accommodation market remained “highly fragmented”, with further market consolidation likely. The Canada Pension Plan Investment Board (CPPIB) and private equity firm Cinven are investing in a Spanish hotel bookings company for nearly €1.2bn.The joint venture is buying the Hotelbeds Group – a wholesale “bedbank” for the travel industry – from the Tui Group.The company, which employs 6,150 staff, offers hotel rooms to travel agents and tour operators from its inventory of 75,000 hotels.The companies said an expected increase in global hotel bookings and a continued shift from offline to online bookings were reasons behind the investment.last_img read more

Oldendorff Orders Bulker Pair at Jiangsu Hantong

first_imgGerman Oldendorff Carriers is renewing its fleet with two more bulker newbuilds, the company spokesperson confirmed to World Maritime News.The two 209,000 dwt bulk carriers have been ordered from Chinese Jiangsu Hantong Ship Heavy Industries.The Tier III compliant newbuilds are set for delivery in 2020, data from Asiasis shows.Hantong Ship Heavy is already building seven Sdari Kamsarmaxes for the German dry bulk shipping major, set for delivery between 2019 and 2020. Originally, the series comprised ten units, however, three were resold to another company.The order emerges on the back of Oldenroff’s contract for two more Kamsarmax bulkers ordered from Japanese shipbuilder Oshima Shipbuilding.Oshima Shipbuilding will deliver the two 100,000 dwt units, along with another three 62,000 dwt Ultramaxes, during the first half of 2020.The shipowner has 6 Ultramaxes under construction at NACKS and DACKS scheduled for completion in 2019 and three more Handysize bulkers at Chinese yards. In total, 23 eco bulkers are set to join the company’s fleet by the middle of 2020.World Maritime News Stafflast_img read more

Munster to take on Leinster at Thomond Park

first_imgA 26,000 sellout is expected at Thomond Park this evening when provincial rivals Munster and Leinster go head-to-head in the Guinness Pro 12.Leo Cullen’s side defeated the Reds the last time the two sides met in October, but Munster are unbeaten in the league since that game.The Reds have made three changes from the side that lost to Leicester in the Champions Cup nine days ago, with James Cronin, Jean Kleyn and Ronan O’Mahony all included. Leinster meanwhile have named a total of 10 changes, with Sean O’Brien, Jamie Heaslip and Devin Toner among the players who have been left out.Munster head coach Rassie Erasmus says they owe it to both sets of fans to make it an entertaining evening.Kick off in Limerick is at 5.30.Also today in the Pro 12, Welsh sides Cardiff and Newport face off at 2.05, and Scottish rivals Edinburgh and Glasgow meet in Murrayfield at 4.05.last_img read more

Dirk Nowitzki hits five of Mavericks’ 16 3-pointers as Clippers fall

first_imgWhile Dallas had a big day from beyond the arc, Los Angeles was 6 for 22 from 3-point range.“It was tough,” Rivers said. “It gets frustrating when you are on defense all game. Like in a football game when you are three and out and the other team is on defense.”The Mavericks outscored the Clippers 35-21 in the second quarter for a 59-38 lead at the break.TIP-INSClippers: G Austin Rivers was fined $25,000 for a verbal outburst toward a fan in a loss to the Utah Jazz on Thursday.Mavericks: It was the Mavericks’ second-largest margin of victory this season after a 111-79 win against Milwaukee on Nov. 18. … Dallas improved to 91-60 all-time and 53-23 at home in the series with the Clippers. … Dallas won the rebound battle 54-38.LUNCH BREAKNerlens Noel was the only active player that didn’t get into the game for the Mavericks, but the center did make a halftime trip to the media room at American Airlines Center for a hot dog.“I heard the hot dogs are very good here,” Carlisle said. “You’ll have to ask him.”Noel, who hasn’t played since Nov. 22 and is battling a thumb injury, said: “I needed some energy for the second half.”BENCH BOOSTBoosted by Barea and Harris, the Mavericks’ reserves outscored the Clippers’ backups 59-28 and set a season high for reserve scoring. Each player that got into the game for the Mavs had at least two points and a field goal.UP NEXTClippers: Visit the Minnesota Timberwolves on Sunday.Mavericks: Host the Denver Nuggets on Monday. Carlisle became the 18th coach in NBA history with at least 700 wins. Greg Popovich (1,164) and the Clippers’ Doc Rivers (812) are the only other active coaches to make it to the milestone.“Seven hundred. That’s a lot of wins. We’re happy to get it for him,” Nowitzki said. “He’s been great for the league. He’s been around forever, got great knowledge of the game. That’s a big milestone. We’re happy for him. We presented him with the game ball afterwards.”The Mavericks (6-17) scored the first eight points and never trailed. They finished 16 for 35 from beyond the arc.“We are definitely playing better,” Barea said. “The ball is moving better, I think everybody is more active and playing with more energy and the ball has got to keep moving.”DeAndre Jordan had 14 points and 17 rebounds for the Clippers (8-13), who have dropped two in a row after winning three straight. Lou Williams scored 18 points. DALLAS — Dirk Nowitzki and the Dallas Mavericks shot their way to a milestone victory for coach Rick Carlisle.Nowitzki made five of Dallas’ 16 3-pointers, and the Mavericks beat the Clippers 108-82 on Saturday for Carlisle’s 700th career win.“It just means that I’ve been very fortunate,” Carlisle said. “As time goes on, I count those things even less. It’s day to day and trying to improve the situation.”PreviousDallas Mavericks guard Dennis Smith Jr. (1) passes off against LA Clippers center DeAndre Jordan (6) during the first half of an NBA basketball game in Dallas, Saturday, Dec. 2, 2017. (AP Photo/LM Otero)LA Clippers guard Austin Rivers (25) dribbles during the first half of an NBA basketball game against the Dallas Mavericks in Dallas, Saturday, Dec. 2, 2017. (AP Photo/LM Otero)Dallas Mavericks forward Dirk Nowitzki (41) of Germany shakes hands with LA Clippers center DeAndre Jordan (6) before an NBA basketball game against the Dallas Mavericks in Dallas, Saturday, Dec. 2, 2017. (AP Photo/LM Otero) SoundThe gallery will resume insecondsDallas Mavericks guard J.J. Barea (5) calls a play against LA Clippers guard C.J. Williams (9) during the second half of an NBA basketball game in Dallas, Saturday, Dec. 2, 2017. The Mavericks won 108-82. (AP Photo/LM Otero)Dallas Mavericks forward Dirk Nowitzki (41) of Germany shoots against LA Clippers center DeAndre Jordan (6) during the second half of an NBA basketball game in Dallas, Saturday, Dec. 2, 2017. The Mavericks won 108-82. (AP Photo/LM Otero)Dallas Mavericks guard J.J. Barea (5) looks to shoot during the second half of an NBA basketball game against the LA Clippers in Dallas, Saturday, Dec. 2, 2017. (AP Photo/LM Otero)Dallas Mavericks guard J.J. Barea (5) drives against LA Clippers guard Jawun Evans (1) during the second half of an NBA basketball game in Dallas, Saturday, Dec. 2, 2017. (AP Photo/LM Otero)Dallas Mavericks forward Harrison Barnes (40) matches up against LA Clippers guard Lou Williams (23) during the second half of an NBA basketball game in Dallas, Saturday, Dec. 2, 2017. (AP Photo/LM Otero)LA Clippers center DeAndre Jordan, left, talks with teammate guard Austin Rivers (25) while sitting on the bench during the fourth quarter of an NBA basketball game in Dallas, Saturday, Dec. 2, 2017. The Mavericks won 108-82. (AP Photo/LM Otero)Dallas Mavericks guard Dennis Smith Jr. (1) passes off against LA Clippers center DeAndre Jordan (6) during the first half of an NBA basketball game in Dallas, Saturday, Dec. 2, 2017. (AP Photo/LM Otero)LA Clippers guard Austin Rivers (25) dribbles during the first half of an NBA basketball game against the Dallas Mavericks in Dallas, Saturday, Dec. 2, 2017. (AP Photo/LM Otero)NextShow Caption1 of 9LA Clippers guard Austin Rivers (25) dribbles during the first half of an NBA basketball game against the Dallas Mavericks in Dallas, Saturday, Dec. 2, 2017. (AP Photo/LM Otero)ExpandDallas had dropped two in a row after a stretch of three wins in four games. J.J. Barea had 21 points and 10 assists, and fellow reserve Devin Harris finished with 15 points.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more