Hotel operator Park Plaza Hotels (PPH) said its wholly-owned unit, Park Plaza Hotels Europe (PPHE), has signed 20-year management contracts with Russian developer Ferens Management for the operation of up to 20 new hotels in Russia. PPHE will also help identify and plan the new hotels. Ferens is owned by Renova StroyGroup, part of the Renova group of companies.
CDC Investissement Immobilier, the real estate asset management subsidiary of French financial institution Caisse des Dépôts, has inked a strategic partnership with Covivio in Germany.
