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November 4th, 2024
Host Hotels & Resorts Enters Into Agreement To Acquire Turtle Bay Resort In Hawaii for $680M
HOST HOTELS & RESORTS | May 29, 2024
BETHESDA, Md., May 29, 2024 -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (“Host” or the “Company”), the nation’s largest lodging real estate investment trust, today announced that it entered into an agreement to acquire the fee simple interest in the 450-room Turtle Bay Resort (the “Resort,”) on the North Shore of Oahu, Hawaii, including a 49-acre land parcel entitled for development, (the “Land Parcel”) for approximately $680 million, net of key money. The purchase price allocation is expected to be $630 million for the Resort and $50 million for the Land Parcel, subject to final appraisal. The acquisition price represe...
HVS ANAROCK Hotels & Hospitality Overview, May 2024
Akash Datta | May 29, 2024
By Akash Datta, Dipti Mohan, Dhwani Gupta Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry. Key highlights include: In April 2024, domestic air passenger traffic in India reached 132 lakhs, marking a 2.4% increase compared to April 2023. Goa witnessed the largest year-on-year decline in occupancy rate, while Kolkata registered the highest growth during the month. Hyderabad showed the highest year-on-year ADR growth among the top 10 markets in the country, followed by Chennai. After a long hiatus, Mumbai recorded ...
Hyatt and Kiraku Announce Plans for New Luxury Hot Spring Ryokan Brand ATONA in Locations Across Japan in 2026
ATONA | May 29, 2024
The first round of funding secured 10 billion yen for the Atona Impact Fund CHICAGO/TOKYO (May 29, 2024) – Hyatt Hotels Corporation (NYSE: H) and Kiraku, Inc. (“Kiraku”) today announced that ATONA, the modern hot spring ryokan (Japanese-style inn) brand, will open properties in Yufu, Yakushima, and Hakone. The ATONA brand was announced in 2022 under a joint venture between a Hyatt affiliate and Kiraku, a Japanese company dedicated to preserving valuable assets for future generations. The first ATONA ryokans are slated to open in 2026 across some of Japan’s top hot spring destinations and areas of natural beauty. Hyatt and Ki...
IHG Signs With GPKP to Develop Holiday Inn Prayagraj in Uttar Pradesh
IHG | May 29, 2024
The new hotel is set to open in 2025, bringing world-class hospitality to the city 29th May, 2024, National: IHG® Hotels & Resorts, one of the world’s leading hotel companies, has signed a management agreement with GPKP to develop Holiday Inn Prayagraj, in Uttar Pradesh. Scheduled to open in 2025, the signing underscores IHG's commitment to expanding its footprint across key secondary markets within India. Holiday Inn is one of the most loved and recognized hotel brands in the world with over 70 years of history. Deeply rooted in family and business travel, Holiday Inn has a vision to provide a quality, consistent and authe...
From Base Stays to Premium Experiences: How AI Is Redefining Ancillary Revenue Generation for Hotels
Leo Barrit | May 29, 2024
By Leo Barrit Artificial intelligence (AI) is more than just a buzzword; it's a transformative tool that can revolutionize the hospitality industry. Its practical use can empower hotels to anticipate guest preferences, tailor services accordingly, and deliver them through the right channels. This not only enhances the guest experience but also opens doors to increased profitability. However, it’s crucial to understand and navigate the challenges and considerations of implementing AI to align with a hotel's business goals. The economic gains from AI are not to be underestimated. A study by PwC predicts that the most significant boosts ...
The Logan Hotel Appoints Andrew Cifa as Director of Sales and Marketing
The Logan Hotel | May 29, 2024
The Westchester, PA native brings decades of knowledge and impressive industry experience to the downtown Philadelphia hotel Philadelphia, Pennsylvania (May 29, 2024) – The Logan Hotel proudly announces the appointment of Andrew Cifa as its new Director of Sales and Marketing. With a remarkable career spanning over two decades in the hospitality industry, Cifa brings a wealth of experience, strategic leadership, and a passion for delivering exceptional guest experiences to his new role. Situated in the vibrant, downtown cultural district of Philadelphia, The Logan is bold, artful and irresistibly inviting urban retreat, with 391 guest ro...
ZEL Costa Brava, the Second Hotel From Rafael Nadal + Meliá Hotels International, To Open June 1
ZEL | May 29, 2024
Following the overwhelming success of ZEL Mallorca, the lifestyle brand created by Meliá Hotels International and Rafael Nadal unveils its second hotel—an oasis of relaxation and adventure. Palma de Mallorca, May 29, 2024: The Mediterranean is highly sought-after for its climate, cuisine, and picturesque landscapes, drawing millions of tourists to Spain to discover its unique lifestyle. Inspired by this, Meliá Hotels International and Rafael Nadal created ZEL: a collaborative lifestyle brand that pays homage to the Mediterranean ethos. Following the success of its inaugural hotel, ZEL Mallorca, the brand will expand its presence this ...
Hospitality Ventures Management Group (HVMG) Adds Three Hotels to Portfolio
Hospitality Ventures Management Group | May 29, 2024
Company Names Heidi Nielsen VP of Business Development ATLANTA, May 29, 2024—Hospitality Ventures Management Group (HVMG), an Atlanta-based third-party hotel operator and investor, today provided results for the company’s first quarter of 2024, including the addition of three, new third-party hotel management agreements and above-industry average results in revenue per available room (RevPAR) and RevPAR growth. Additionally, the company named Heidi Nielsen vice president of business development. “With the addition of these three hotels, HVMG remains on track to maintain 20% annualized growth,” said Robert Cole, president and chi...
Azul Hospitality Group Selected to Manage Monsaraz San Diego
Azul Hospitality Group | May 29, 2024
San Diego, CA, May 29, 2024 — Azul Hospitality Group, a premier hospitality company providing innovative approaches to maximizing an asset's performance, announced today it has been selected to manage the Monsaraz San Diego Tapestry Portfolio by Hilton. The 92-room Monsaraz San Diego Tapestry Portfolio by Hilton is steps away from Fisherman's Landing, only five minutes from San Diego Airport, downtown, and SeaWorld, and under two miles from Sunset Cliffs Beach. "The property exudes impeccable hospitality, ensuring both guests and locals find a welcoming environment," said Tim Billing, Regional Vice President of Operations, Azul Hospitali...
BWH Hotels Prioritizes Growth in the Middle East
BWH Hotels | May 29, 2024
Phoenix, Arizona (May 29, 2024) – BWHHotels (BWH) announces plans for significant growth of its portfolio in the Middle East in 2024 and beyond. On the heels of a successful appearance at the Arabian Travel Market in Dubai, which saw BWH execute signings of brand-new management deals in Saudi Arabia, BWH will soon bring eight new hotels and one new branded residence in the region into its portfolio of brands, with other development prospects in the works. BWH is demonstrating its commitment to growth in the Middle East with these new signings and associated management agreements. The new additions will feature its “core” brands as we...
Waramaug Hospitality Acquires Austin Marriott North in Round Rock, TX
Waramaug Hospitality | May 29, 2024
Miami, FL – May 29, 2024 – Waramaug Hospitality, in a joint venture with Franklin Real Asset Advisors, announced today it acquired the Austin Marriott North, a 295-key full-service hotel located in Round Rock, Texas, with close proximity to downtown Austin. Ferit Ferhangil, Chief Executive Officer of Waramaug, commented, "The Austin Marriott North perfectly aligns with our vision of investing in premium-branded hotels in high-growth markets. This acquisition further solidifies our commitment to delivering exceptional hospitality experiences while maximizing returns for our partners and investors." Further commenting, Marc Weidner, Mana...
New York Market Leads U.S. With Number of Hotels Under Construction in Q1 2024
Lodging Econometrics (LE) | May 29, 2024
May 29, 2024 – PORTSMOUTH, NH – Lodging Econometrics (LE) releases the latest on hotel development for the New York, NY market, prior to the NYU International Hospitality Industry Investment Conference (NYU Conference). In the Q1 2024 LE Market Trend Report for the New York market, analysts report the market has a total of 78 projects/13,549 rooms in the hotel construction pipeline, the tenth largest pipeline by projects of any market in the U.S. Of the top 50 markets in the U.S., the New York market leads with the greatest number of hotels presently under construction standing at 47 projects/7,655 rooms. Projects scheduled to start...
The Opportunities for Highly ADA-Compliant Hotels
Adam and Larry Mogelonsky | May 29, 2024
By Adam Mogelonsky, Larry Mogelonsky The hotel industry has seen an explosion of new brands and sub-brands over the past two decades, and this trend shows no signs of abating. This diversification is driven by various forces, with a prominent rationale being that emergent brands can better appeal to niche interests, microsegments or specific customer identities. We see this trend in the rise of the extended stay category (Home2 Suites by Hilton, Residence Inn by Marriott, Hyatt House) and the growth of serviced apartment or aparthotel brands. Premium and luxury segments have also excelled by focusing on particular value propositions, wh...
HotStats Shares Insights From 2023-2024 Hotel Management Sentiment Survey
HotStats | May 28, 2024
With the first quarter of the year behind us, our recent sentiment survey provides a snapshot of the current state of the hotel industry and a glimpse into what 2024 might hold. Benefiting from insights from hotel managers across various regions, the survey sheds light on performance expectations, operational challenges, and future forecasts. Although respondents to our 2023-24 sentiment survey painted a diverse picture of the hotel industry's performance, a general pattern of optimism emerged. The majority of hoteliers (65%) felt that they outperformed their expectations last year whereas only 35% felt that they fell short. This dispa...
Gen Z Customer Experience Strategy – Dealing With Younger Generations
EHL Graduate School | May 28, 2024
You have to be careful when making assumptions about customers based on generation-specific stereotypes, as there are exceptions to every rule. However, it’s fair to say that Generation Z consumers - born between the mid-1990s and 2010 - have different customer experience expectations, including customer service strategy. And really, it’s hardly surprising. Generation Z is the first generation not to know a world without the internet. Their purchasing decisions are heavily influenced by social media. They favor a digital-first customer experience that is responsive and transparent, and they place a high value on ethical concerns when d...
IHG Hotels & Resorts Strengthens Portfolio in Egypt With Two New Crowne Plaza Signings
IHG | May 28, 2024
The dual signing sees the expansion of IHG’s premium brand in Egypt and introduces the Crowne Plaza brand to Cairo’s New Administrative Capital Cairo, Egypt – 28 May 2024: IHG® Hotels & Resorts, one of the world’s leading hotel companies, has signed a management agreement with Urbnlanes Development to bring two new Crowne Plaza hotels to Egypt. The dual signings will see the introduction of Crowne Plaza Cairo New Administrative Capital and the Crowne Plaza New Cairo Yellow. Set to open in 2028, both new Crowne Plaza hotels promise a unique blend of premium hospitality and convenience for guests. True to the Crowne Plaz...
Wall of U.S. Hotel Debt Maturities To Catalyze Transactions
JLL | May 28, 2024
With the amount of maturing debt in critical stress expected to decline over the next few years, the opportunity to invest in the dislocation is now $5.8 billion of U.S. hotel single-asset securitized loans, including CMBS and CRE CLOs are coming due for maturity in 2024. Despite the U.S. hotel industry demonstrating strong RevPAR performance, there are multiple headwinds that could impede the refinancing of these securitized loans and compel owners to transact instead. These headwinds include the lagging profitability of U.S. hotels, persistently high interest rates, and historically high costs of property insurance. As such, if the loom...
Nujuma, a Ritz-Carlton Reserve, Makes Grand Entrance in Middle East With Exclusive Private Island Oasis in the Red Sea
The Ritz-Carlton Hotel Company, LLC | May 28, 2024
Nujuma, a Ritz-Carlton Reserve, offers guests a rare and immersive escape to discover Saudi Arabian culture and the untapped wonders of The Red Sea Nujuma, a Ritz-Carlton Reserve, the first Ritz-Carlton Reserve in the Middle East was unveiled today on Ummahat Island in the tranquil waters of The Red Sea. The private island retreat is nestled within the captivating Blue Hole cluster of islands, where pristine coral reefs thrive beneath the surface and the celestial canopy above paints an endless tapestry of stars. Nujuma – inspired by the meaning of ‘stars’ in Arabic – invites travellers to embark on an unchartered journey to one of...
TradeWinds Island Resorts Names Avi Yesawich as Managing Director
TradeWinds Island Resorts | May 28, 2024
PETE BEACH, Fla. (May 28, 2024) – The TradeWinds Island Resorts – the Island Grand Resort and RumFish Beach Resort – located along 40 acres of sugary white beach on the island of St. Pete Beach, Florida, has announced Avi Yesawich as Managing Director. In this position, Yesawich oversees all aspects of the TradeWinds operations, including strategic vision and direction, sales, marketing, finance, revenue, human resources, and all hotel food and beverage operations. The leader of the resort’s executive team, Yesawich will play a key role in upcoming capital improvements at TradeWinds, including a $500 million, 20-year expansion project...
Shangri-La Eros New Delhi Appoints Two Key Leaders
Shangri-La | May 28, 2024
(New Delhi, May 2024) Shangri-La Eros New Delhi is pleased to announce the appointment of two key leaders. Nikhil Bhaskaran joins the leadership team as Food & Beverage Manager while Rajeev Neolia, previously Director of Business Development has been promoted as the new Director of Sales. Nikhil Bhaskaran brings a wealth of experience and a sterling work ethic to his new role. As a seasoned professional and an industry veteran, the visionary has demonstrated talent in property positioning, planning and execution of creative F&B campaigns. With a Bachelor’s degree in Arts and International Hospitality Management affiliated with Qu...
Kirkwood Collection Expands Into Santa Ynez Valley With Addition of The Ballard Inn
Kirkwood Collection | May 28, 2024
WEDNESDAY, MAY 28, 2024 – BEVERLY HILLS, CA- Kirkwood Collection, a luxury hotel brand renowned for its portfolio of historic boutique hotels in iconic California destinations, is thrilled to announce the newest addition to its collection: The Ballard Inn. This property marks Kirkwood’s first venture into the Santa Ynez Valley, a picturesque region in the heart of Santa Barbara Wine Country celebrated for its natural beauty, rich history, and world-class wines. The Ballard Inn joins Kirkwood’s existing boutique properties in Santa Barbara, Hideaway Santa Barbara, and Blue Sands Inn, further expanding their presence in the region. The B...
LaPlaya Beach & Golf Resort Unveils Transformation Celebrating an 18-Month Revival Post-Hurricane Ian
LaPlaya Beach & Golf Resort | May 28, 2024
The luxury beachfront resort’s extensive redevelopment includes elevated guest rooms, a newly appointed Beach House, three restored resort pools, a fitness center, spa and property-wide enhancements NAPLES, Fla. (May 28, 2024) – LaPlaya Beach & Golf Resort, a Noble House Resort nestled along the pristine white sands and sparkling waters of the Gulf of Mexico, proudly announces the successful culmination of its comprehensive 18-month restoration journey. Meticulously undertaken, this endeavor marks the restoration of the award-winning resort to its former esteemed glory following significant damages incurred from Hurricane Ian in ...
The Crawford Hotel in Downtown Denver Unveils Major Renovation
May 28, 2024
DENVER, CO (May 28, 2024) - The Crawford Hotel in downtown Denver is excited to unveil a major refresh, including a luxurious design update to each of its 112 magnificent guest rooms. Originally opened in 1881, the iconic Denver Union Station reopened to great fanfare in July 2014 after a $54 million renovation that included the creation of The Crawford Hotel, which is named for renowned urban preservationist and Union Station Alliance member Dana Crawford. The hotel was recently honored with a Michelin Guide One Key in the first-ever awards highlighting the most outstanding hotels in the country. In celebration of its 10th anniver...
TFE’s Australian Hospitality Brand, A by Adina, To Make European Debut in 2025
A BY ADINA | May 28, 2024
VIENNA: Three years after TFE’s homegrown A by Adina made its debut in Australia, TFE Hotels has announced the premium brand will head offshore with the opening of A by Adina Vienna Danube in Austria in 2025. The international announcement comes as TFE’s Joint Venture Partner, TOGA Group, marks another A by Adina milestone closer to home, with NSW Government approval now confirmed for construction to commence on the 204-key A by Adina Sydney Central, which is part of Australia’s biggest innovation district, Tech Central. TFE Hotels CEO, Antony Ritch, said the A by Adina brand would be moving into a riverfront precinct that was settin...
