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
IHG Hotels & Resorts and Hotel Management International Partner To Rebrand Three Hotels to ANA Crowne Plaza
IHG | August 29, 2024
29 August 2024 – Tokyo, Japan: IHG ANA Hotels Group Japan (IHG) today announced a landmark partnership with Hotel Management International Ltd (HMI), who operate a diverse portfolio of properties across Japan, to rebrand three hotels to the ANA Crowne Plaza brand expanding IHG’s footprint into three new destinations. Totalling 539 rooms, the three Crown Palais hotels will undergo extensive renovations as they convert to ANA Crowne Plaza Kochi, ANA Crowne Plaza Chiryu and ANA Crowne Plaza Hamamatsu. They will join an extensive footprint, of more than 20 ANA Crowne Plaza hotels across Japan and more than 400 Crowne Plaza hotels worldwid...
Marriott Signs With Fametro Group for Conversion of Iconic Tropical Hotel Manaus to a Tribute Portfolio Hotel
Marriott International, Inc. | August 29, 2024
Slated for a phased opening starting at the end of 2024, the property will revive the iconic Amazonian charm of the former Tropical Hotel Manaus, now under the Tribute Portfolio Hotel brand. Marriott International, Inc. and the Fametro Group, led by Wellington Lins and Maria do Carmo Seffair, announced a signed agreement to convert an iconic property in the capital city of the Amazonas to a Tribute Portfolio Hotel, a collection brand within the Marriott Bonvoy portfolio known for providing hotels that are designed to reflect the character and community of their surrounding locations. “As the capital city of the Amazonas, Manaus serv...
Hilton Plans Expansion to New Country in the Caribbean and Latin America With Dual Brand Signing in Guyana
Hilton | August 29, 2024
GEORGETOWN, Guyana and MIAMI – Today, Hilton (NYSE: HLT) announced the signing of the dual brand Hilton Georgetown and DoubleTree Suites by Hilton Georgetown, as the company’s first hotels in Guyana. Owned by an affiliate of Assets Group and managed by Hilton, the properties’ combined 411 keys will form part of an oceanfront, mixed-use business and entertainment complex in the country’s capital. With this strategic signing, Hilton continues its rapid expansion in the Caribbean and Latin America (CALA) region, where it currently has more than 225 open hotels welcoming guests. “We believe in investing in Guyana, a country poised...
Australia’s Hotel Capital Markets See Bifurcation Across 1H 2024
JLL | August 28, 2024
In the current hotel investment environment, we’re witnessing just how crucial strong underlying real estate fundamentals are when it comes to desirability amongst investors and resultant pricing. Like what’s being experienced across the broader CRE sector, certain assets are standing out amongst the pack. As we discussed in our previous article, year-to-date Australian transaction volumes remain subdued as the cost of debt drives a bifurcation of hotel capital markets, with the mid-markets (≤A$40 million) segment of the market having been the most active for the year to date and seeing the greatest depth in capital. Hotel fundame...
InterContinental Hotels & Resorts To Return to Serbia Following 20 Year Absence
IHG Hotels & Resorts | August 28, 2024
28.08.24, London, UK: IHG Hotels & Resorts, one of the world’s leading hotel companies, proudly announces the return of its InterContinental Hotels & Resorts brand to Serbia after 20 years, in partnership with Delta Holding. Expected to open by the end of 2026, InterContinental Belgrade will feature 203 rooms, including 28 Premium Rooms, 15 Junior Suites, 2 Superior Suites, 2 Executive Suites and a Presidential Suite with panoramic views of the city, providing luxury stays designed for both leisure and business guests. The hotel’s timeless architecture and unique features will include a breathtaking sky pool, rooftop restaur...
Dusit Hotels and Resorts and Generator and Freehand Hotels Enter Strategic Development Partnership
Dusit Hotels and Resorts | August 28, 2024
By leveraging each other’s strengths, both companies aim to break new ground and plant flags in destinations where they have yet to have a presence. Bangkok, Thailand, 28 August 2024 – Dusit Hotels and Resorts, the hotel arm of Dusit International, one of Thailand’s leading hotel and property development companies, and Generator and Freehand Hotels, an award-winning developer and operator of experiential hostels and boutique hotels in Europe and the USA, have entered a strategic partnership to synergise their development resources to pursue sustainable international growth for their respective brands. Under the partnership,...
Ennismore Signs With Alfasi Group To Develop The Hoxton in Melbourne
Ennismore | August 28, 2024
Ennismore, the fastest-growing lifestyle and leisure hospitality company, and Alfasi Group, a design-driven property developer, are delighted to announce the signing of The Hoxton in Melbourne as part of the Matchworks Precinct located at 560 Church Street, Cremorne. Set to open in 2027, the hotel will bring The Hoxton’s imitable style to Australia for the first time, marking a huge milestone for the brand’s global growth. The hotel will feature 198 guestrooms in the classic Hoxton categories, including Cosy, Roomy, and Biggy. Known for its vibrant, open-door lobbies, the hotel will celebrate its locality through art, design, ret...
Choice Hotels Awards First Contract Under Recently Reintroduced SOAR Program to Support Hotel Ownership Opportunities for Historically Underrepresente
Suburban Studios | August 27, 2024
Conversion Agreement Signed with Choice's Suburban Studios Extended Stay Brand NORTH BETHESDA, Md., Aug. 27, 2024-- Choice Hotels International, Inc., one of the world's largest hotel companies, announced its first contract under the recently reintroduced SOAR (Supporting Ownership Access and Representation) program, designed to create hotel ownership opportunities for underrepresented entrepreneurs. Damon Healey of Eternal Companies, a real estate investment and asset management firm, executed a contract to convert two hotels in Georgia to Suburban Studios, one of Choice's four extended stay brands. The pair of properties opened on May 30....
Valencia Hotel Group Breaks Ground on Caravan Court, By Valencia Hotel Collection, Coming to Arlington, Texas in 2026
Valencia Hotel Collection | August 26, 2024
HOUSTON, TX – Valencia Hotel Group is thrilled to announce that construction is underway for the development of Caravan Court, the eighth property in the Valencia Hotel Collection, set to debut in Arlington, Texas in 2026. Featuring 145 rooms and 7 suites, Caravan Court will be a modern reinvention of the classic motor court hotel, blending mid-century aesthetics with contemporary luxury. Valencia Hotel Group, in partnership with Sam Mahrouq and Walid Joulani of Division Hotel Management LLC, will build the Caravan Court Property on the site of the former Caravan Motel and Dollar Car Sales. Located on the historic Division Street, the Carav...
Hilton Signs New Agreement for Iconic Hilton Munich Park Hotel
Hilton | August 26, 2024
MUNICH, GERMANY – Hilton today announced the signing of a new long-term agreement for Hilton Munich Park with a joint venture company of Commerz Real AG and Hines. Hilton will continue to manage the property following a visionary redevelopment by the owners as part of the mixed-use Tucherpark project in Munich. Hilton Munich Park will be integral to the new Tucherpark, a circular city project being developed by the Commerz Real and Hines joint venture. This innovative project will blend residential, retail, office, and hospitality spaces, creating a dynamic new destination and community. The reimagined Hilton Hotels & Resorts pro...
IHG Hotels & Resorts Seals Two-Hotel Deal in Quang Binh, Vietnam
IHG Hotels | August 26, 2024
Ho Chi Minh City, Vietnam – 26 August 2024: IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, today announces a two-hotel deal with Hai Thanh Hung Investment Joint Stock Company and Vietnam Royal Investment and Construction Co., Ltd (VRIC) in Quang Binh province. The multiple property agreement includes 68-villa property voco Quang Binh Resort and 232-room Crowne Plaza Quang Binh City Centre. voco hotels, IHG’s fastest growing premium brand, will welcome guests next year as voco Quang Binh Resort joins voco Ma Belle Danang in Vietnam which is quickly becoming a popular choice for leisure and busine...
Everhome Suites Continues To Expand With Three New Locations Breaking Ground in Key Markets
Everhome Suites | August 21, 2024
Choice Hotels reinforces its leadership and first-mover advantage in extended stay with groundbreakings in Texas, Kansas, and Kentucky NORTH BETHESDA, Md., Aug. 20, 2024 -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, continues to strengthen its leadership position in extended stay with three new Everhome Suites breaking ground in San Antonio, Texas; Bowling Green, Kentucky; and Wichita, Kansas. All three were developed in collaboration with Highside Companies. These groundbreakings, along with eight others earlier this year, demonstrate Choice's first-mover advantage in the category, con...
U.S. and China Account for 64% of Worldwide Hotel Projects in the Pipeline at Q2 2024
Lodging Econometrics | August 21, 2024
August 21, 2024 – PORTSMOUTH, NH Lodging Econometrics' (LE’s) Q2 2024 Global Construction Pipeline Trend Report states that the total pipeline ascended to a record-high 15,453 projects with 2,395,726 rooms, up 6% by projects year-over-year (YOY) and 4% by rooms. Worldwide, at the close of the second quarter, there are 6,265 projects/1,115,989 rooms under construction, up 2% by projects and 1% by rooms YOY. Projects and rooms scheduled to start construction in the next 12 months grew 8% YOY to close the quarter at 3,972 projects/545,764 rooms. Projects in the early planning stage continue to grow, with a 10% increase in projects and ...
IHG Hotels & Resorts Signs New 700-Key InterContinental Orlando
IHG Hotels & Resorts | August 20, 2024
ATLANTA (August 20, 2024) – IHG Hotels & Resorts, one of the world’s leading hotel companies, today announced the signing of a new InterContinental Hotels & Resorts property in Orlando, Fla. Developed in partnership with owner Flag Luxury Group and Unicorp National Developments, InterContinental Orlando will welcome guests with elevated amenities and culturally rich experiences that exemplify the InterContinental brand’s evolution while providing insider expertise to all the destination has to offer. The hotel is set to open in 2028. Located on Orlando’s renowned International Drive, InterContinental Orlando will exude appr...
Andaz Turks & Caicos at Grace Bay Celebrates Major Construction Milestone With ‘Topping Off’ Ceremony
Andaz Turks & Caicos | August 20, 2024
PROVIDENCIALES, TURKS & CAICOS (AUGUST 20, 2024) – Andaz Turks & Caicos at Grace Bay, developed by Vista Development Inc., announces today a key milestone thanks in large part to its construction partner BYD TCI Construction. The project recently celebrated the topping off with a ceremony at the site of the future resort and luxury residences. Marking the completion of the building’s fundamental framework and roof, the event included remarks from key project representatives along with a celebration of Andaz Turks & Caicos’ team who delivered the milestone significantly ahead of schedule. Attendance included Andaz Turks &am...
Luxury Projects Dominate as Middle East Hotel Pipeline Expands Slightly YOY
Lodging Econometrics | August 20, 2024
August 20, 2024 – PORTSMOUTH, NH The Q2 2024 Middle East Hotel Construction Pipeline Trend Report from Lodging Econometrics reveals that hotel construction projects in the region have reached 607 projects with 147,088 rooms at the quarter's close. This represents a 2% increase in projects year-over-year, while room numbers are up less than one percent YOY. As of Q2, 300 projects with 80,867 rooms are currently under construction throughout the Middle East. Projects scheduled to start construction in the next 12 months have seen a significant rise YOY, with 145 projects and 34,706 rooms, marking a 42% YOY increase in projects and a 45%...
HVS U.S. Hotel Development Cost Survey 2024
Luigi Major, MAI | August 19, 2024
By Luigi Major In 2023, the national lodging market continued to achieve high performance levels. While occupancy growth was minimal, compared to the level achieved in 2022, average daily rate (ADR) and revenue per available room (RevPAR) reached all-time highs. This robust performance reflects a strong recovery and growth trajectory following the disruptions caused by the COVID-19 pandemic. Data for 2024 illustrate that the hotel industry has continued to experience minimal improvements in key performance metrics. Despite occupancy remaining relatively flat, both ADR and RevPAR have shown continued growth thus far this year. These healthy...
Marriott International Announces Long-Term Licensing Agreement With Sonder
Marriott International, Inc. | August 19, 2024
Today, Marriott International, Inc. (NASDAQ: MAR) announced a long-term licensing agreement with Sonder Holdings Inc. (NASDAQ: SOND, “Sonder”), which is expected to add over 9,000 rooms to Marriott’s portfolio by year-end and approximately 1,500 rooms to its pipeline. Under this agreement, Sonder’s open and pipeline portfolio, which primarily consists of apartment-style accommodations in urban markets, is expected to be added to the Marriott system under a new collection called “Sonder by Marriott Bonvoy.” With over 9,000 rooms expected to be added to its portfolio later this year, Marriott now expects full year 2024 net rooms ...
Kinseth Hospitality Companies To Develop New 123-Key AC Hotel by Marriott in Cedar Rapids, IA
Kinseth Hospitality | August 16, 2024
Cedar Rapids, IA, August 16, 2024-- Kinseth Hospitality Companies and Kingston Hotel Associates are excited to announce the development of their newest hotel addition to Cedar Rapids, the AC Hotel by Marriott. Strategically located in the vibrant Kingston Yard district, this modern hotel promises to be a significant new hub for both business and leisure travelers. Kingston Hotel Associates has closed on the land and full architectural plans are underway. The AC Hotel by Marriott Cedar Rapids will boast 123 well-appointed rooms, designed with the brand’s signature sleek and stylish approach to comfort. Each room is equipped with state-of...
Chef-Driven Hotel Brand Appellation To Open Urban Resort in Morgan Hill, Silicon Valley’s Next Culinary Capital
Appellation | August 15, 2024
Hotel MOHI by Appellation Opens 2025, Boasting 76 Guestrooms, Lush Pool Oasis and Spa, Field-to-Fork Cuisine & Unparalleled Weddings & Event Space MORGAN HILL, Calif., Aug. 15, 2024 -- Appellation, the groundbreaking culinary-first hotel brand by celebrated American chef Charlie Palmer and luxury hospitality veteran Christopher Hunsberger, joins forces with visionary vintner Frank Léal of Léal Hospitality to announce Hotel MOHI by Appellation. Set to debut in fall 2025 in Silicon Valley's charming Downtown Morgan Hill, the opening will mark the first full-service luxury boutique hotel in the destination. Léal Hospital...
LE Forecasts Over 1,100 New Hotels to Open in Europe by 2026
Lodging Econometrics | August 15, 2024
August 15, 2024 – PORTSMOUTH, NH In the Q2 2024 Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report the region’s total pipeline stands at 1,680 projects/249,454 rooms at the quarter’s close. Hotel projects currently under construction in Europe at Q2 stand at 755 projects/117,908 rooms, representing 45% of the projects and 47% of the rooms in the total pipeline. Projects planned to start construction in the next 12 months account for 412 projects/59,850 rooms, making up 25% of the projects and 24% of the rooms. Projects in the early planning stage comprise 513 projects/71,696 rooms, acco...
Record-Breaking Hotel Construction Pipeline in China: Q2 2024 Highlights and Future Forecasts
Lodging Econometrics | August 14, 2024
August 14, 2024 – PORTSMOUTH, NH As seen in Lodging Econometrics’ (LE’s) Q2 2024 Hotel Construction Pipeline Trend Report for China, the country’s hotel construction pipeline has reached unprecedented heights at the close of the second quarter. The pipeline stands at a record-high 3,815 projects with 699,786 rooms, marking a 4% increase in projects and 3% in rooms year-over-year (YOY). According to the Q2 report, projects under construction have hit a new all-time high of 2,743 projects with 498,551 rooms, accounting for 72% of the projects in China’s total pipeline and growing 3% by projects and 4% by rooms YOY. Projects sche...
Lamington Group Continues Growth With Net-Zero room2 York To Open in 2026
Lamington Group | August 13, 2024
August 2024…// B-Corp real estate investor and developer, Lamington Group, is delighted to unveil details of its next project under the award-winning, eco hometel brand, room2, with a York property set to start site development this summer, and open in early 2026. This will be the brand's first in the North of England and continues the group’s leading commitment to take real action on climate change by building and operating net-zero carbon properties. Located inside the city’s castle walls, room2 York, will offer 116 guest rooms, a meeting space, laundry room, gym, and new Winnie’s cafe and bar concept specialising in home co...
India Projected to Lead Asia Pacific, Excluding China, in New Hotel Openings Through 2026
Lodging Econometrics | August 12, 2024
August 12, 2024 – PORTSMOUTH, NH In the Q2 2024 Asia Pacific, excluding China (APEC), Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), the total pipeline in APEC has hit a record 2,056 projects with 406,118 rooms, marking a 6% increase in projects and a 1% rise in rooms year-over-year (YOY). Currently, 864 projects with 199,784 rooms are under construction in the APEC region. Projects scheduled to start construction in the next 12 months have risen to 358 with 65,853 rooms, up 23% by projects and rooms YOY. Projects and rooms in the early planning stage have soared to a record-high 834 projects with 140,481 roo...
