Minor Hotels to Debut in Singapore With Avani Hotels & Resorts Lifestyle Brand
Avani Hotels & Resorts | September 3, 2024
Brandt Hospitality Group Getting Great Results From Accounting Software Partner
Aptech | June 5, 2024
Finance & Development
Sonnenblick-Eichner Company Arranges $39 Million Interim Leasehold First Mortgage Financing for Moxy Portland Downtown Hotel in Portland, OR
Sonnenblick-Eichner Company | January 13, 2022
Beverly Hills, CA - January 13, 2022 - Sonnenblick-Eichner Company has arranged $39 million of non-recourse interim leasehold first mortgage financing for Moxy Portland Downtown, a 197-room hotel located in the West End District of downtown Portland, OR. The hotel opened in March 2021 and consequently has limited operating history. Proceeds from this financing were used to pay off the construction loan, provide funds for an interest reserve as well as closing costs and fees. The five-year LIBOR-based floating rate loan was sized to approximately 76% of total project costs. The property was developed and is managed by Graves Hospitality...
The Kessler Collection to Develop Boutique Hotel in New Bern, North Carolina
The Kessler Collection' | January 12, 2022
ORLANDO, FL - January 12, 2022 - The Kessler Collection, a portfolio of 12 artistically inspired boutique hotels, has purchased the historic Elks Building in New Bern, N.C. for $2.25 million with plans to develop the property into a 50-room boutique hotel. Set to break ground in early 2023, the luxurious boutique hotel will boast 50 guestrooms, 1,500 sq. ft. of meeting and event space, an intimate speakeasy on the lower level and a specialty coffee shop and restaurant on the street level. The hotel will offer the brand's signature accommodations with custom interior design and curated artwork, all while weaving in a thread of educati...
IHG and PT Pancaran Kreasi Adiprima to Convert Bali Hotel to InterContinental Brand
IHG Hotels & Resorts | January 12, 2022
IHG Hotels & Resorts and existing partner, PT Pancaran Kreasi Adiprima, are excited to expand the world’s first and largest luxury hotel brand, InterContinental Hotels & Resorts, to Bali Indonesia. The 120-key all-suite and villa resort InterContinental Bali Sanur Resort will be a rebrand of the hotel formerly known as Fairmont Sanur Beach Bali, and will relaunch with a fresh identity and ready to welcome guests who want to live the InterContinental Life. The beachfront resort is located on Sanur Beach which is known for its long stretch of sandy beach with shallow waters and boasts 26 villas, each with a private pool, as well ...
Beemok Hospitality Group Reveals Investment Plans for The Charleston Place
Beemok Hospitality Group | January 12, 2022
Charleston, SC – January 12, 2022 – Beemok Hospitality Group, a Charleston, SC-based company with a growing portfolio of world-class hotels, restaurants and entertainment venues, today announces its investment plans for The Charleston Place, the company’s flagship asset. A landmark in Charleston’s historic district, The Charleston Place will officially transition from Charleston Place, a Belmond Hotel, to The Charleston Place, a locally owned and managed independent luxury hotel, on March 1, 2022. The Charleston Place has hired renowned architects and designers to lead the transformation, including Pierre-Yves Rochon (PYR), a lege...
Marriott International Signs Agreement With OCT Properties to Open W Nanjing
Marriott International | January 10, 2022
SHANGHAI, CHINA — January 10, 2022 — Marriott International, Inc. today announced it has signed an agreement with Nanjing OCT Properties to bring the W Hotels Worldwide brand to Nanjing. W Nanjing is set to become an awe-inspiring addition to eastern China with its anticipated opening in 2025, located along the southern bank of the iconic Yangtze River. “We are pleased to strengthen our eight year collaboration with OCT Group with another exciting project,” said Gavin Yu, Chief Development Officer, Greater China. “This signing underscores Marriott International's commitment to its continued growth in emerging first-tier ...
IHG Hotels & Resorts Signs Hotel Indigo in Downtown Minneapolis
IHG Hotels & Resorts | January 10, 2022
ATLANTA, GA – January 10, 2022 – IHG® Hotels & Resorts, one of the world's leading hotel companies, announced the signing of the Hotel Indigo Minneapolis Northstar Downtown in Minneapolis, MN. The 17-story Hotel Indigo will showcase 218 guest rooms, a neighborhood restaurant and bar, a fitness center, and a business center. The hotel will be located in the heart of downtown Minneapolis, within close proximity to the city's most prominent corporate and leisure demand generators. The current location for the Hotel Indigo first opened in 1962 as an independent hotel named the Northstar Hotel. This hotel is pa...
Marriott International Signs Agreement to Bring JW Marriott Brand to São Paulo
Marriott International | January 7, 2022
Marriott International, Inc. today announced that it has signed an agreement to debut JW Marriott Hotel São Paulo in Parque da Cidade, a Class A, LEED-certified mixed-use complex located in one of the city’s main and burgeoning business districts. JW Marriott Hotel São Paulo will be converted from an existing luxury property and is anticipated to serve as Marriott International’s first luxury hotel in São Paulo. The hotel is expected to open in Q2 2022. Strategically located along Avenida Nações Unidas within proximity to major business and exclusive entertainment areas in the city, JW Marriott Hotel São Paulo is expected to fea...
IHG Seals Four-Hotel Destination Resorts Portfolio Deal With Strategic Partner Sun Group
Sun Group | January 6, 2022
IHG Hotels & Resorts, one of the world’s leading hospitality companies, is proud to announce a four-hotel, 2,709-room portfolio deal in Vietnam with long-standing partner Sun Hospitality Group (a member of Sun Group), the renowned tourism-focused real estate developer. Following the success of the award-winning InterContinental Danang Sun Peninsula Resort, the companies will extend their partnership across two world-class, integrated development projects that will open in 2026. The multi-property agreement includes the 616-room Holiday Inn Resort Yoko Park Onsen in Quang Ninh Province – the first large-scale hot spring resort in...
Marriott International Signs Agreement With Melco Resorts & Entertainment to Bring Macau’s First W Hotel
Marriott International | January 3, 2022
Marriott International, Inc. today announced that it has signed an agreement with Melco Resorts & Entertainment to bring the W Hotels Worldwide brand to Macau. Scheduled to open in December 2022, W Macau - Studio City is expected to become an iconic addition to the world-class leisure destination through its detail-driven, unexpected design, signature Whatever/Whenever® service, and innovative programming. “Macau’s super-charged energy and unique identity as an entertainment hub, together with its mix of Eastern and Western culture, makes it a natural fit for W Hotels,” said Henry Lee, President, Greater China, Marrio...
US-Led Consortium Wins Bid for Redevelopment of Historic Mogamma El Tahrir Into ‘Cairohouse’, a Luxury Lifestyle Hotel and Mixed-Use Compl
Oxford Capital Group, LLC | December 22, 2021
CAIRO - December 22, 2021 - On December 6th, 2021, an international consortium of developers and investors including Oxford Capital Group, Global Ventures Group and Al Otaiba Investments were selected as the winning bid to develop and repurpose the historic Mogamma el Tahrir Complex on Tahrir Square as CairoHouse, a groundbreaking mixed-use development, which will be a catalyst for a reimagined Downtown Cairo and future investment in the Egyptian economy. Chicago-based RKF Global provided legal and strategic consulting on the opportunity. Representatives of Chicago-based Oxford Capital Group, Global Ventures Group, along with UAE-based Al...
Cycas Hospitality Signs Strategic Partnership With Borealis Hotel Group
Cycas Hospitality | December 22, 2021
Two of Europe’s leading hotel companies, Borealis Hotel Group and Cycas Hospitality, have this week announced a strategic partnership to open and operate new, branded hotels across Europe. The first phase of the collaboration was revealed this week with the signing of a hotel management agreement for Cycas to operate the 108-room Motto by Hilton Rotterdam Blaak, as well as a second, new hotel that will be announced in early 2022. Set to open mid-2022, the Rotterdam hotel – a converted, former bank – represents the first Motto by Hilton to open in the Netherlands, as well as the urban lifestyle brand’s European debut. The Motto bran...
Cambria Hotels Breaks Ground on First Western New York Hotel in Niagara Falls
Cambria Hotels | December 21, 2021
ROCKVILLE, MD - December 21, 2021 - Cambria Hotels, an upscale brand franchised by Choice Hotels International, Inc. (NYSE: CHH), continues to expand around the country with the official start of construction on the Cambria Hotel Niagara Falls. This is the fourth hotel to break ground in Q4 2021 and tops off a year of growth across the brand with new openings in popular cities like Louisville, Orlando, and Napa Valley, as well as an additional hotel in Nashville, and a fifth hotel in Washington, D.C. The 120-room hotel is expected to open in the Spring of 2023. Representatives from Choice Hotels, franchisee and developer Plati Nia...
Wyndham Signs With Ceres Development for Three New Wyndham Hotels
Wyndham | December 21, 2021
PARSIPPANY, NJ - December 21, 2021 - Wyndham Hotels & Resorts (NYSE: WH) – the world's largest hotel franchising company with approximately 9,000 hotels across nearly 95 countries – announced today an agreement with Ceres Development for three new Wyndham hotels, two in Indiana and one in Ohio. These newly rebranded hotels, celebrating their openings, continue the Company's steady conversion growth, where it experienced 100 percent more domestic conversions in third quarter 2021 compared to third quarter 2019. "Joining Wyndham Hotels & Resorts will allow us to collaborate with the company's global sales, marketing and l...
IHG Partners With China Duty Free Group to Bring Dual-Branded Regent and Hotel Indigo Property to Hainan
IHG Hotels & Resorts | December 21, 2021
IHG Hotels & Resorts today announced a new partnership with China Duty Free Group to develop two new luxury and lifestyle hotels in Hainan, the Regent Sanya Haitang Bay and Hotel Indigo Sanya Haitang Bay. This partnership resonates with China's national strategy to build Hainan into an international hub for tourism and shopping, and augment its role as a free trade port. Situated close to Sanya International Duty-Free Shopping Complex, the two hotels are expected to open in 2026 and will help transform the Haitang Bay area into a world-class tourist and leisure resort by offering distinctive guest experience. ...
IHG Hotels & Resorts Signs InterContinental Grenada Resort
IHG Hotels & Resorts | December 21, 2021
ATLANTA, GA – December 21, 2021 – IHG® Hotels & Resorts, one of the world's leading hotel companies, is proud to announce the signing of the InterContinental Grenada Resort. The 150-room Caribbean hotel will be built on La Sagesse Beach, approximately 30 minutes from the Maurice Bishop International Airport and the town of St. George’s. The InterContinental Grenada Resort will feature more than 30 private suites, an array of restaurants and bars, a luxurious spa and pool with bar and grill, fitness center, approximately 6,000 square feet of meeting space and a business center. The property is expected to open in 2025. Known as a...
KSL Capital Partners Enters Majority Ownership of Eden Hotels in The Netherlands
KSL Capital Partners | December 20, 2021
Amsterdam – December 20, 2021 – Eden Hotels (“Eden”), the Dutch hotel group owned by the Dijkstra family, announced today that an affiliate of KSL Capital Partners (“KSL”) made a majority investment into the group. The Dijkstra family will retain a significant minority stake in the group, and Eden CEO Leon Dijkstra will remain in his role in Eden Hotels. The combined ambition is to expand Eden Hotels into Europe. Terms of the investment are undisclosed. Eden Hotels owns and operates 14 hotels with almost 2,000 rooms predominantly in Amsterdam and other major Dutch cities. The business has been built up by the Dijkstra family ov...
Dream Hotel Group Unveils Plans for Downtown Miami Flagship in 2025
Dream Hotels | December 20, 2021
NEW YORK, NY – December 20, 2021 – Celebrated hotel brand and management company Dream Hotel Group today announced plans to open a 165-key, 10-story hotel as part of a hospitality-driven entertainment complex situated along the historic Miami River in the heart of Downtown Miami, Florida. Scheduled to open in 2025, Dream Miami will be the hospitality and entertainment centerpiece of Riverside Wharf, a 200,000-square-foot, dual-tower development set to enliven the skyline in Miami’s developing residential, commercial, retail and tourist destination. The project is being led by Miami-based developer MV Real Estate Holdings in conjuncti...
Hyde Hotels Bringing Hyde Paradox Hotel London City to the UK
Hyde Hotels, Resorts & Residences | December 15, 2021
NEW YORK, NY - December 15, 2021 - Hyde Hotels today announced Hyde Paradox Hotel London City, which will be coming soon to the historic location by the Old Bailey in the heart of London. The 110-room property will occupy 15 Old Bailey, a building originally known as the 'Spiers & Pond Hotel'. Built in 1874 by architect Evans Cronk and converted to office use in the early 1900s, the latest re-conversion by Hyde London City owners, OB Capital seeks to return the asset back to the iconic hotel that it once was. This stylish property will provide a sanctuary for those in-the-know seeking a luxurious hideaway while in the city. Hyde Hotel...
LXR Hotels & Resorts to Debut in the Kingdom of Saudi Arabia
LXR Hotels & Resorts | December 15, 2021
Riyadh, KSA – December 15, 2021 – Hilton (NYSE: HLT) announced today the signing of the latest property from LXR Hotels & Resorts, the company’s collection of independent luxury properties, in Diriyah, Riyadh, KSA. Projected to open by 2026, this captivating boutique resort represents the brand’s introduction to the Kingdom of Saudi Arabia and will be located within Diriyah, an 11-square kilometre development that is set to redefine luxury living complete with high-end retail offerings, lavish restaurants, residential and administrative buildings, educational institutions, recreational spaces, and galleries and museums. Nestled...
Hyatt Signs With Al Mirqab Tourist Company LLC to Debut Andaz Brand in Qatar
Andaz | December 14, 2021
CHICAGO, IL – December 14, 2021 – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Al Mirqab Tourist Company LLC to debut the Andaz brand in Qatar. The 318-guestroom Andaz Doha is expected to open in fall 2022, at the same time football fans around the world will turn their eyes to Qatar. The hotel will mark the fourth Hyatt hotel in the country. The Andaz brand of luxury lifestyle hotels offer distinctively local experiences that stimulate the senses. Andaz means “personal style” in Hindi, and Andaz hotels celebrate the individuality of every guest and speaks to ...
IHG Hotels & Resorts Continues Expansion in Egypt With Signing of InterContinental Cairo New Capital
IHG Hotels & Resorts | December 14, 2021
IHG® Hotels & Resorts, one of the world’s leading hotel companies, has announced the signing of a Management Agreement with Pyramids Group for Urban Development to bring a new luxury hotel to Egypt - InterContinental Cairo New Capital. Scheduled to open in early 2026, this signing reinforces IHG’s commitment to growing its brand portfolio in the country and solidify its presence in the luxury and lifestyle segment in the region. Joining Holiday Inn New Assiut Asayla, Hotel Indigo Mountain View North Coast, Hotel Indigo Mountain View icity New Cairo, Hotel Indigo Mountain View icity 6th of October City and Hotel Indigo Mountain V...
Oakwood Makes Brand Entry Into Bangladesh With Signing of Oakwood Hotel & Apartments Dhaka
Oakwood | December 13, 2021
SINGAPORE – December 13, 2021 – Oakwood, the leading serviced apartments brand with over 50 years of history, today announced the signing of a management agreement with Aara Hospitality to debut the brand in Bangladesh. Scheduled to open in April 2022, Oakwood Hotel & Apartments Dhaka will add to Oakwood’s enlarging footprint across South Asia in support of its goal to double the global portfolio of managed properties by 2025. “For more than 50 years, Oakwood remains resolute in our pursuit of service excellence and guest innovation, which is now more pertinent than ever before. In the new era of travel, our discerning clie...
RIU Hotels & Resorts to Develop Riu Plaza Close to Chicago’s Magnificent Mile
RiU | December 13, 2021
RIU Hotels & Resorts has taken a step forward in its expansion strategy for the line of Riu Plaza urban hotels by purchasing a plot of land in the heart of Chicago. The newly-built skyscraper will house a hotel with 28 floors and more than 350 rooms. Construction work will begin in spring 2022 and is expected to last for around two years. Chicago is the third largest city in the USA by population and is one of the most popular tourist destinations. The image of its skyline at the edge of Lake Michigan is recognised the world over and the Magnificent Mile shopping area, located right next to the future hotel, is the equivalent of New York...
BlackSand Capital Completes Purchase of the Royal Lahaina Resort From Pleasant Travel
| December 10, 2021
HONOLULU, HI - December 10, 2021 - BlackSand Capital (BlackSand), a locally owned and managed Hawai'i specialist real estate investment firm, completed the purchase of the Royal Lahaina Resort on Maui from Pleasant Travel Service on Dec. 9. The terms of the sale, including financial details, are not being disclosed. "We are very pleased to successfully complete the acquisition of the Royal Lahaina Resort. It is extremely important to us that local investors ultimately own a part of large, established hotels and resorts in Hawai'i and this transaction supports that mission, making Hawai'i a better place," said B.J. Kobayashi, BlackSand'...
