Minor Hotels to Debut in Singapore With Avani Hotels & Resorts Lifestyle Brand
Avani Hotels & Resorts | September 3, 2024
Kimpton San Antonio Celebrates Its Topping Out on Schedule
Kimpton Hotels & Restaurants | July 20, 2023
Development
Marriott International Signs Agreement With New Development Group to Bring EDITION Hotels Brand to Dali in Southwestern China
EDITION Hotels | August 15, 2023
Marriott International, Inc. recently announced that it has signed an agreement with New Development Group to introduce the EDITION Hotels brand to Dali, a well-known travel destination in Southwestern China for its picturesque natural scenery, diverse ethnic culture, and vibrant nightlife. EDITION is a collection of individualized hotels, seamlessly balancing great design and true innovation to deliver a luxury lifestyle experience. Nestled on a hillside halfway up the Cangshan Mountain, The Dali EDITION, which marks the brand’s third property in China, is expected to open in December 2025 and establish a new benchmark for the luxury ho...
Six Senses Bringing New Property to the Greek Peloponnesian Riviera
Six Senses | August 14, 2023
BANGKOK – August 14, 2023 – Six Senses Porto Heli will bring the brand’s trademark wellness and sustainability ethos to the elegant Ermioni in the beautiful Greek Peloponnese, with the famous islands of Spetses and Hydra within view. The beauty spot is surrounded by protected coves and bays enjoying the clear waters of the Aegean and is known for its yacht-filled marinas, palatial summer villas, sun-kissed Mediterranean landscape, fine dining, and boutique stores. Historically, the Peloponnese has been the main field of action for Greece since prehistoric times, hosting important archaeological sites, including Olympia, Epidaurus, and ...
New $150M Hannah St. Hotel Coming to Melbourne’s Southbank Under Collection by TFE Hotels Brand
TFE Hotels | August 10, 2023
SOUTHBANK: Melbourne’s inner city, already set to benefit from the $1.7 billion Melbourne Arts Precinct Transformation Project in 2028, will receive another boost to tourism with the announcement that diversified property developer Time & Place, along with joint venture partners MaxCap Group, and Australia's TFE Hotels, will open a $150m boutique hotel in Southbank in September 2025. The deal has seen the joint venture partnership, alongside construction and property specialist Hickory, create a unique hotel brand - the Hannah St. Hotel. This new hotel not only aligns with its neighbourhood concept for The Queensbridge Building pre...
Projects in the Early Planning Stage of Latin America’s Hotel Construction Pipeline Rise at Q2 2023
Lodging Econometrics (LE) | August 10, 2023
August 10, 2023 – PORTSMOUTH, NH – According to the Q2 2023 Latin America Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), the region’s total construction pipeline includes 552 projects/88,477 rooms. At the close of the quarter, there are 227 projects/38,675 rooms presently under construction, projects scheduled to start construction in the next 12 months stand at 158 projects/25,091 rooms, and projects currently in early planning stand at 167 projects/24,711 rooms. Projects in the early planning stage experienced the most growth at Q2, increasing 17% by projects and 21% by rooms, year-over-year (YOY). Twe...
Hyatt and Hongkong Land Announce Plans for Hyatt Centric East CBD Chengdu
Hyatt Centric | August 9, 2023
The lifestyle hotel is set to open in 2025 in the city’s iconic upscale commercial complex, the Ring Chengdu Chicago (August 9, 2023) – Hyatt Hotels Corporation (NYSE: H) and Hongkong Land today announced that a Hyatt affiliate has entered into a management agreement with Hongkong Land for a new Hyatt Centric hotel – Hyatt Centric East CBD Chengdu. Expected to open in 2025, the hotel’s opening in the capital of Sichuan province will mark the entry of the Hyatt Centric lifestyle brand into China’s southwest region. Hyatt’s thoughtful expansion of the Hyatt Centric brand further bolsters Hyatt’s commitment to enhancing its ...
IHG Hotels & Resorts Expands Presence in the UAE With Signing of a voco Hotel in Sharjah
IHG | August 9, 2023
Sharjah, United Arab Emirates, August 09, 2023: IHG® Hotels & Resorts, one of the world's leading hospitality companies, and Sharjah Asset Management, the investment arm of the Government of Sharjah, have announced the signing of a management agreement to bring a voco hotel to Sharjah, UAE. The new hotel is poised to contribute to the growth and advancement of Sharjah's tourism industry, attracting visitors from around the world. As the first IHG hotel in the Emirate, the voco hotel aims to open in 2027. It will comprise 191 rooms, helping boost Sharjah's offering as one of the top destinations in the region. The hotel will be locate...
Pipeline in Canada Is Up; Toronto and Vancouver With Impressive Pipelines at Q2 2023
Lodging Econometrics (LE) | August 7, 2023
August 7, 2023 – PORTSMOUTH, NH – As seen in the recently released Canada Construction Pipeline Trend Report from Lodging Econometrics (LE), the total construction pipeline in Canada continued to expand at the close of the second quarter with 275 projects/37,359 rooms, up 5% by projects and rooms year-over-year (YOY). Analysts at LE report that, at the Q2 close, projects presently under construction in Canada stand at 52 projects/7,021 rooms. Projects scheduled to start construction in the next 12 months are at 88 projects/10,086 rooms. Early planning has the most substantial shift in projects YOY, showing a 30% increase by projects a...
Braemar Hotels & Resorts Unveils the Cameo Beverly Hills, a Rebranding of the Mr. C Beverly Hills
Braemar Hotels & Resorts | August 3, 2023
DALLAS, Aug. 3, 2023 -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced the rebranding and planned conversion of its Mr. C Beverly Hills ("Mr. C") in Los Angeles, California to the Cameo Beverly Hills. Beginning August 4, 2023, Cameo Beverly Hills will be available for booking on Hilton's website at hilton.com and join Hilton Honors, Hilton's award-winning guest loyalty program. Following an extensive renovation, which is expected to be completed by the end of 2025, the hotel will join LXR Hotels & Resorts ("LXR"). One of Hilton's iconic luxury brands, LXR is a collection of unique, indep...
Wyndham and LuxUrban Ink Deal to Expand Trademark Collection Portfolio in the U.S.
LuxUrban Hotels Inc. | August 3, 2023
16 LuxUrban hotels across New York, Washington D.C., Miami, New Orleans and Los Angeles to join Wyndham's Trademark Collection, with the opportunity for additional hotels to join thereafter LuxUrban will continue to manage hotels as they join the industry's #1 hotel rewards program and leverage Wyndham's best-in-class sales, marketing, technology and distribution platform PARSIPPANY, N.J. and MIAMI, Aug. 3, 2023 -- Wyndham Hotels & Resorts, the world's largest hotel franchising company with approximately 9,100 hotels across more than 95 countries, and LuxUrban Hotels, Inc. (NASDAQ: LUXH), a leading hotel operator with a growi...
Three Franchise Companies in the U.S. Dominate the Hotel Construction Pipeline and Openings Through 2025
Lodging Econometrics | August 3, 2023
August 3, 2023 – PORTSMOUTH, NH – According to the most recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), in the second quarter of 2023, the franchise companies with the largest pipelines in the U.S. are Marriott International (Marriott) with 1,511 projects/181,632 rooms, Hilton Worldwide (Hilton) with record high project and room counts of 1,470 projects/164,848 rooms, and IHG Hotels & Resorts (IHG) with 811 projects/80,516 rooms. These three franchise companies comprise 68% of all projects in the total U.S. hotel construction pipeline. The leading brands for each of these three companies are...
IHG Hotels & Resorts in Partnership With Aqarat, Introduces Vignette Collection to the UAE and Kuwait
IHG | August 2, 2023
Dubai and Kuwait City mark opening of IHG’s new collection brand in UAE and Kuwait, expanding one of the world’s largest luxury and lifestyle portfolios Dubai, UAE, August 02, 2023: IHG Hotels and Resorts, one of the world’s leading hotel companies with more than 6,000 hotels, across 18 distinct brands, has announced the signing of franchise agreements with subsidiaries of Aqarat, a global hotel owner, in relation to two new Vignette Collection hotels which will launch IHG’s new collection brand to the Middle East later this summer. The hotels will be managed by United Hospitality Management (UHM), a leading luxury hotel operator. ...
Atlanta and Dallas Among Top Markets for New Hotel Openings Through 2025
Lodging Econometrics (LE) | August 2, 2023
August 2, 2023 – PORTSMOUTH, NH – According to the United States Construction Pipeline Trend Report by Lodging Econometrics (LE) for Q2 2023, the five markets with the largest hotel construction pipelines are Dallas with a record-high 184 projects/21,501 rooms, Atlanta with 141 projects/17,993 rooms, Phoenix with 119 projects/16,107 rooms, Nashville with 116 projects/15,346 rooms, and Los Angeles with 112 projects/17,797 rooms. The markets with the most projects currently under construction at the Q2 close are New York with 47 projects/8,201 rooms, and Phoenix with 29 projects/6,064 rooms. Dallas has the most projects scheduled to st...
IHG Signs With Ginger Tree Goveia to Bring voco Goa Arpora to India
IHG | August 1, 2023
The new 110-keys hotel aligns with IHG’s growth strategy for the Indian market 1st August, 2023, New Delhi: IHG® Hotels & Resorts, one of the world’s leading hotel companies, has announced the signing of a management agreement with Ginger Tree Goveia to bring a new hotel to Goa, India. voco Goa Arpora is set to open its doors in January 2025 as the next stride forward in IHG’s ambitious regional growth strategy for the premium brand. Earlier this year, IHG announced the signing of two voco hotels in the country across Jim Corbett and Gurugram. The latest signing marks the rapid expansion of – voco – IHG’s seventh brand...
HVS U.S. Hotel Development Cost Survey 2023
Luigi Major, MAI | July 27, 2023
By Luigi Major, MAI Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source provides the basis for our illustrated total development costs per room/per product type. INTRODUCTION After reaching an all-time low in 2020, attributed to the impact of the COVID-19 pandemic, the national lodging market quickly rebounded to an all-time revenue per available room (RevPAR) high in 2022. While occupancy levels in 2022 remained below 2019 levels, ADR exceeded 2019 levels that year, propelled by a combination of inflation and a surge of leisure travel in the post-COVID-19 era. Dat...
U.S. Pipeline Remains Steady; 2025 Supply Growth Forecast Is 1.5%
Lodging Econometrics (LE) | July 27, 2023
July 27, 2023 – PORTSMOUTH, NH According to the Q2 2023 United States Construction Pipeline Trend Report by Lodging Econometrics (LE), at the close of the second quarter, the hotel construction pipeline stands at 5,572 projects/660,061 rooms, with projects up 7% year-over-year (YOY) and rooms up 6% YOY. The construction pipeline grew incrementally quarter-over-quarter (QOQ), as developers and franchise companies push through short-term challenges while envisioning long-term prospects. Inflation, higher interest, rates and the general “wait and see” attitude of developers have prevailed in the economy in recent months; however, develo...
IHG Signs With Almuhaysin Group to Open First Regent Hotel in the Middle East
IHG | July 26, 2023
Jeddah, Saudi Arabia, July 26, 2023: IHG® Hotels & Resorts, one of the world’s leading hospitality companies, has signed a management agreement with Almuhaysin Group to open the first Regent Hotel in the Middle East, in Saudi Arabia. Set to open by mid-2024 in one of the most prestigious waterfront locations in Jeddah, Regent Jeddah will provide uninterrupted views of the Corniche and Jeddah’s Formula 1 racetrack, setting a new standard for modern ultra-luxury in Saudi Arabia. The new Regent Jeddah will join existing Regent properties in glamourous destinations such as Bali, Santa Monica and Hong Kong. The signing follows th...
Ennismore Signs Its First Lifestyle Hotel in Turkey With Hyde Bodrum
Ennismore | July 26, 2023
NEW YORK, July 26, 2023 -- Ennismore, the fastest-growing lifestyle hospitality company, today announces the signing of Hyde Bodrum, opening in early 2024, which marks two significant milestones for the brand – the first property in Turkey and the first all-inclusive resort. Hyde Bodrum will exclusively offer an adults-only all-inclusive experience focused on a festival feeling through music, DJs, acoustic sets, festival stages, and other highly curated entertainment and sports activities. Hyde Bodrum will combine the luxe all-inclusive offering with exceptional and varied culinary destinations, with the design and programming of ...
Hospitality Finance Breakfast Briefing: Bringing Down the Cost of Capital and Filling Your Capital Stack
Jim Butler | July 26, 2023
By Jim Butler and the Global Hospitality Group® Earlier this week, the Global Hospitality Group® co-hosted a breakfast briefing in Los Angeles with CREDE, a leading real estate development and project management firm. The program focused on how hotel owners and developers can reduce their cost of capital and costs of construction while filling in gaps in their capital stack through a few critical construction management techniques and exploitation of both traditional and alternative financing options. Luigi Major, Managing Director of HVS, opened the program with an economic overview, providing an inspiring update on the state of the i...
Four Seasons Partners with Shahid Khan to Develop Four Seasons Hotel and Private Residences Jacksonville
Four Seasons Hotel and Private Residences Jacksonville | July 25, 2023
TORONTO, July 25, 2023 -- Four Seasons Hotels and Resorts, the world's leading luxury hospitality company, together with Shahid Khan through Iguana Investments Florida LLC (Iguana Investments), today announced plans for a new Hotel and Private Residences in Jacksonville, Florida. Anticipated to open in 2026, Four Seasons Hotel and Private Residences Jacksonville will play an integral role in the development of the Jacksonville Shipyards while ushering in a thrilling and historic next chapter for Downtown Jacksonville. Blending imaginative urban design on the banks of the St. Johns River, Four Seasons Hotel and...
Equinox Hotels and Red Sea Global Announce Plans To Bring Luxury Resort to Amaala
Equinox Hotels | July 25, 2023
NEW YORK--Equinox Hotels, a revolutionary luxury hospitality brand, has been selected by Red Sea Global, the developer behind the world’s most ambitious regenerative tourism destinations, to unveil Equinox Resort Amaala, an unparalleled luxury resort experience in Amaala along the Red Sea coast in northwestern Saudi Arabia. Set to open as part of the first phase of development at Triple Bay, the Equinox Resort Amaala will be located adjacent to the Triple Bay Marina Yacht Club and surrounded by pristine mountain ranges and crystal-clear waters. An integrated wellness haven being developed by Red Sea Global, this destination will evolve t...
Wyndham Signs 60 New ECHO Suites Hotels Across the U.S. and Canada
Wyndham Hotels & Resorts | July 25, 2023
New multi-unit deals with established developers expand ECHO Suites' presence in Alabama, Iowa, Nebraska and South Dakota while launching the brand in Canada PARSIPPANY, N.J., July 25, 2023 -- Wyndham Hotels & Resorts, the world's largest hotel franchising company with approximately 9,100 hotels across more than 95 countries, today announced 60 new hotels for its rapidly expanding ECHO SuitesSM Extended Stay by Wyndham brand, including what will be the brand's first hotels in Canada. Continuing Wyndham's long-term strategy of signing multi-unit deals with established and experienced developers—one of the latest being Mast...
Introducing voco Zeal Exeter Science Park – IHG’s First Lifecycle Net Zero Carbon Hotel
IHG Hotels & Resorts | July 25, 2023
IHG Hotels & Resorts, one of the world’s leading hospitality companies, is proud to introduce voco Zeal Exeter Science Park in partnership with Zeal Hotels – the first lifecycle net zero carbon hotel for both businesses. This follows the signing of a landmark exclusivity agreement between IHG and Zeal, which was revealed at the International Hotel Investment Forum (IHIF) in Berlin in May. Scheduled to open in 2024, voco Zeal Exeter Science Park has been designed to align with the Net Zero Carbon Buildings Framework Definition of the UK Green Building Council – the membership-led industry network. With more than 6,000 prop...
Hilton Signs With Andras House to Bring Tapestry Collection to Portrush in Northern Ireland
Tapestry Collection by Hilton | July 20, 2023
PORTRUSH, Northern Ireland – Hilton (NYSE: HLT) today announced plans to bring the Tapestry Collection by Hilton brand to Northern Ireland, with an opening in the popular seaside town of Portrush, as part of a franchise agreement with Andras House. Once opened, The Marcus Hotel Portrush, Tapestry Collection by Hilton is anticipated to be the only internationally branded hotel in the town, attracting travellers from across the globe looking to enjoy everything Northern Ireland has to offer. Embracing the distinct culture of its local neighbourhood, the hotel will join a global portfolio of more than 100 unique Tapestry Collection by ...
Marriott International’s Strong Conversion Activity Helps Drive Robust Growth in the Caribbean and Latin America
Marriott International, Inc. | July 20, 2023
Hotel conversions continue to have real momentum in the Caribbean and Latin America (CALA) region and in recent years have become an important growth driver for Marriott International. Hoteliers and investors are leveraging the efficiencies and advantages of renovating and rebranding existing properties, further expanding the breadth of Marriott’s portfolio, consisting of 31 global brands. According to data from Lodging Econometrics, the pipeline of brand conversions in Latin America jumped by 22 percent on the first quarter of 2023 compared to the first quarter of 2022, totaling 67 projects and 9,464 rooms. Marriott’s data parallels ...
