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
Paramount Lodging Advisors Successfully Closes a Five-Hotel Portfolio Sale in Texas
Paramount Lodging Advisors | August 16, 2021
Paramount Lodging Advisors (PLA) has successfully executed the sale of a TownePlace Suites and four Fairfield Inn & Suites(s) located throughout the Houston MSA and Victoria, TX. The PLA team representing the seller included Texas-based Managing Director Kami Burnette and Associate Mason McDavid, as well as Senior Managing Directors Bennett Webster and Brent Clemens. The five assets totaled ~360 rooms and were sold to individual buyers. “In spite of the continuing COVID-related impairments, market fundamentals are improving and the midscale buyer segment is aggressively pursuing acquisitions with the assistance of SBA financing ...
Hilton Expands All-Inclusive Portfolio in Mexico With Opening of Hilton Vallarta Riviera All-Inclusive Resort
Hilton Hotels & Resorts | August 16, 2021
MCLEAN, Va. — August 16, 2021 — Hilton (NYSE: HLT) today welcomed Hilton Vallarta Riviera All-Inclusive Resort as the latest addition to Hilton’s expanding All-Inclusive portfolio. Situated between the beaches of Bay of Banderas and the majestic Sierra Madre Mountain in Mexico’s Pacific Coast, the 444-room hotel features 14 restaurants and bars, two infinity pools and 16,200 square feet of versatile indoor meeting and event space. Managed by Hilton, the hotel was developed by Parks Hospitality and is owned by Fibra UNO. “With this newest addition to our rapidly growing portfolio in Mexico, we reinforce our commitment t...
The Standard to Debut in Singapore in 2023
Standard International (The Standard Hotels) | August 13, 2021
Standard International and Invictus Developments announce plans to build a new hotel in the heart of Singapore, the latest step in the pioneering brand’s global expansion New York, August 13, 2021–The Standard, the most innovative brand in the hospitality business, continues its expansion into key markets in Asia with the announcement of The Standard, Singapore. The Standard, Singapore, slated to open in 2023, represents the latest destination for the brand in Southeast Asia, following The Standard, Hua Hin, set to open in November 2021, and The Standard, Bangkok Mahanakhon, which will open in 2022. “Singapore is a culturally rich...
MCR Purchases the DoubleTree Minneapolis University Area and Converts It to a Hilton Garden Inn
MCR | August 13, 2021
NEW YORK - August 13, 2021 - Big time in the Big Ten! MCR — the country’s 4th-largest hotel owner-operator — is the proud owner of the 141-room Hilton Garden Inn Minneapolis University Area at the University of Minnesota’s main campus that’s home to more than 50,000 undergraduate and graduate students. Last fall, MCR acquired the DoubleTree from a lender who foreclosed on their borrower. MCR’s purchase price was more than a 40% discount to what the hotel previously sold for in 2018. In June 2021, MCR rebranded the hotel from a DoubleTree to a Hilton Garden Inn. The Hilton Garden Inn is MCR’s second hotel in Minneapolis. ...
Paramount Lodging Advisors Successfully Transacts in Texas, Louisiana, Oklahoma With Seven-Asset Portfolio Sale
Paramount Lodging Advisors | August 12, 2021
Paramount Lodging Advisors (PLA) has successfully executed the sale of the Courtyard Houma LA, Staybridge Suites Laredo TX, Holiday Inn Express & Suites Cotulla TX, Fairfield Inn & Suites San Angelo TX, Staybridge Suites San Angelo TX, Springhill Suites Ardmore OK and Hampton Inn Denton TX via online auctions. The hotels were part of a larger portfolio. The PLA team representing the seller was led by Kami Burnette, Brent Clemens, and Bennett Webster “Despite the ongoing national and regional challenges in the current market, our team remains very bullish on the longer-term industry rebound and we believe Texas will remain at...
Radisson Blu Grows Its Footprint in Latin America With a Resort Signing Near the Coast of Ecuador
Radisson Blu | August 12, 2021
Minneapolis, MN — August 12, 2021 — Radisson Hotel Group Americas today announced the signing of Radisson Blu Hotel & Residences, Punta Blanca in Ecuador. The newly constructed hotel is only one mile from stunning beaches along the Pacific Ocean. Guests will be able to book a variety of residences in five different layouts for up to eight guests. The hotel will open with 50 residences, with the remaining 150 units opening within the following 24 months. Construction has begun and the hotel is set to open in the fall of 2022. While visiting the hotel, guests can indulge in delicious cuisine with unique flavors from local ingredients ...
Baird/STR Hotel Stock Index Rose 1.9% in July
Baird | August 11, 2021
HENDERSONVILLE, Tennessee, and MILWAUKEE — August 11, 2021 — The Baird/STR Hotel Stock Index rose 1.9% in July to a level of 5,086. Year to date through the first seven months of 2021, the stock index was up 11.2%. “Hotel stocks were positive but performance was mixed in July with the hotel brands significantly outperforming the hotel REITs,” said Michael Bellisario, senior hotel research analyst and director at Baird. “While second-quarter earnings so far have exceeded expectations, investors appear to be focused on the potential impact of the Delta variant domestically, how business travel might unfold post-Labor Day, and broad...
Karma Group Adds Karma Song Hoai in Vietnam to Resort Portfolio
KARMA GROUP | August 11, 2021
The illustrious Karma Group has welcomed another elegant property into its luxury resort portfolio, this time in Vietnam. Sitting among the picturesque UNESCO World Heritage-listed town of Hoi An sits Karma Song Hoai. This sprawling property comprises 51 stylish suites and family rooms, each boasting private balconies and accompanied by a cluster of restaurants, bars, gyms, and even a spa. but the attraction of the resort doesn’t just lie in its host of amenities, but its location; Karma Song Hoai is perched on the banks of the Thu Bồn river, just 1 kilometre or a short stroll or bike ride from the old town. Though you can choose to ta...
Avison Young Hospitality Group Portfolio Sale
Avison Young | August 11, 2021
ATLANTA – August 11, 2021 – Avison Young announced today it successfully represented a publicly traded hotel company in the sale of a Twenty Property Portfolio. This Marriott and Hilton-branded portfolio included properties covering 13 states nationwide and sold for $211,000,000. The buyer was a West Coast-based family office who was looking to add these premier select-service properties to its core assets. The brokers involved in the sale were Andy Broad, Brad Sinclair and Michael Bernath. The portfolio properties included the Hilton Garden Inn Dallas Allen - Allen, TX.; Hampton Inn & Suites Allen - Allen, TX.; Hilton Garden In...
Karisma Hotels & Resorts Azul Beach Resort Collection Expands With Two Dominican Republic Properties
Karisma Hotels & Resorts | August 11, 2021
MIAMI, FL – August 11, 2021 – Karisma Hotels & Resorts, the award-winning portfolio of properties spanning Latin America, the Caribbean and Mexico, is expanding its highly-praised Azul Beach Resorts portfolio with the launch of the all-new five-star Azul Beach Resort Cap Cana, opening this Winter, and the rebranding of Sensatori Punta Cana to Azul Beach Resort Punta Cana, debuting November 1, 2021. The launch and rebrand will bring the Azul Beach Resorts brand’s elevated service and refined charm to two uniquely breathtaking beaches along the Dominican Republic’s coastline. “After sustaining such a long-standing presenc...
IHG Hotels & Resorts Signs With GI Capital Management for Regent Kyoto, Japan
IHG Hotels & Resorts | August 10, 2021
IHG Hotels & Resorts and GI Capital Management today announce that they are poised to welcome a new era of elegant luxury to Japan, following the signing of Regent Kyoto which will open in 2024. Regent Hotels & Resorts has set new standards in luxury since it was founded in 1970, pioneering hotel design with bold firsts that captured imaginations and blending Eastern simplicity with Western elegance to deliver legendary hospitality. The collection of modern hotels and resorts is rooted in the beauty of contrast and the promise of extraordinary experiences. Regent Kyoto will continue this rich tradition, offering travellers to Ja...
IHG Releases Interim Results to 30 June 2021
IHG Hotels & Resorts | August 10, 2021
REPORTABLE SEGMENTS1 Reported Underlying1 2021 20202 %Change3 %Change Revenue1 $565m $488m +16% +14% Revenue from fee business1 $505m $375m +35% +31% Operating profit1 $188m $52m +262% +314% Fee margin1 44.1% 20.1% +24%pts Adjusted EPS1 40.4¢ 4.9¢ +724% GROUP RESULTS Total revenue $1,179m $1,248m (6)% Operating profit/(loss) $138m $(233)m NM Basic EPS 26.2¢ (115.4)¢ NM Total dividend per share - ¢ - ¢ - % Net debt $2,458m $2,515m (2)% Key metrics vs 2019 $7.9bn total gross revenue1 ...
SRH Hospitality Breaking Ground in Mid-August On 182-Key AC Hotel by Marriott Waco
SRH Hospitality Holdings | August 10, 2021
WACO, Texas – August 10, 2021 – SRH Hospitality Holdings LLC, a veteran developer of top-tier hospitality brands, and SkyWalker Property Partners LLC will break ground in mid-August on an AC Hotel by Marriott, the first full-service hotel to be developed in downtown Waco since the early 1980s. The 182-key AC Hotel Waco is slated to deliver in spring 2023 in the prestigious Magnolia Silos District, which is a designated Qualified Opportunity Zone for investment purposes. To help make the project a reality, the city has partnered with SRH by providing project-related incentives exceeding $13.5 million over a 10-year period. The incentive...
Radisson Hotel Group Signs Radisson Hotel Middelburg Marking in South Africa
Radisson Hotel Group | August 10, 2021
JOHANNESBURG, South Africa – August 10, 2021 – Radisson Hotel Group (www.RadissonHotelGroup.com) is proud to announce the signing of Radisson Hotel Middelburg as part of the Group’s ambitious expansion plan in South Africa. Set to open at the end of 2023, the hotel boosts the Group’s South African portfolio to 16 hotels in operation and under development. It also places the Group firmly on track to reach its ambition of 150 hotels in operation and under development across Africa within the next five years. Ramsay Rankoussi, Vice President, Development, Africa and Turkey of Radisson Hotel Group said: “South Africa remains a key fo...
Spirides Provides $4.1 Million Loan to Refinance Debt of Best Western in San Angelo, Texas
Spirides Hospitality Finance Company | August 10, 2021
TAMPA, FLORIDA—Spirides Hospitality Finance Company has successfully provided and the borrower has officially closed a $4.1 million loan to refinance the existing mortgage debt of the Best Western SureStay in San Angelo, Texas. Also known as the Pearl on the Concho, this iconic 164-room hotel is located at 333 Rio Concho Drive in the heart of the downtown historic, cultural, commercial, and entertainment district of San Angelo, Tom Green County, Texas. The hotel is a full-service, midscale, family-centric hotel that was first built as one of the original Holiday Inn Holidomes which feature a very large indoor recreational atrium with s...
Host Hotels & Resorts, Inc. Reports Results for Second Quarter 2021
Host Hotels & Resorts | August 9, 2021
BETHESDA, Md. – August 9, 2021 – Host Hotels & Resorts, Inc., the nation’s largest lodging real estate investment trust (“REIT”), today announced results for second quarter 2021. OPERATING RESULTS (unaudited, in millions, except per share and hotel statistics) Quarter ended June 30, Percent Change Percent Change Year-to-date ended June 30, Percent Change Percent Change 2021 2020 vs. Q2 2020 vs. Q2 2019(2) 2021 2020 vs. Q2 2020 vs. Q2 2019(2) Revenues $ 649 $ 103 530.1 % (56.2 )% $ 1,048 $ 1,155 (9.3 )% ...
U.S. CMBS Delinquencies Tumble in July With Strong Hotel Resolutions
Fitch Ratings | August 6, 2021
Fitch Ratings-New York-06 August 2021: Fitch Ratings’ U.S. CMBS delinquency rate fell 22 bps to 3.59% in July from 3.81% in June, due to more loan resolutions, fewer new delinquencies and strong new issuance. Resolution volume was strong, totaling $1.7 billion in July, up from $1.6 billion in June. Most resolutions were hotel ($958 million) and retail ($524 million) loans. Borrowers continue to bring loans current as property cash flows improve, although some are still receiving debt relief. New delinquencies were $853 million in July, down from $1.0 billion in June. The roll rate of 30 to 60 days delinquent was 35% from June to July,...
KSL Capital Partners Launches Select Service Hotel Platform
Mission Hill Hospitality | August 6, 2021
Mission Hill Hospitality Builds Growing Portfolio Across US DENVER, CO – August 5, 2021: An affiliate of KSL Capital Partners, LLC (“KSL”), a leading investor in travel and leisure businesses, has launched Mission Hill Hospitality, a portfolio company created to acquire select service and extended stay hotels. To date, Mission Hill Hospitality has acquired 12 hotels. KSL historically has focused on full-service hotels, particularly in leisure destinations generally supported by a mass affluent consumer. Mission Hill Hospitality represents an opportunity to invest in select service and extended stay hotels, which, according to Co...
MGM Resorts International Reports Second Quarter 2021 Financial and Operating Results
MGM Resorts International | August 6, 2021
LAS VEGAS - August 6, 2021 - MGM Resorts International ("MGM Resorts" or the "Company") today reported financial results for the quarter ended June 30, 2021. "We delivered a strong second quarter, driven by robust demand and productivity efforts across our domestic portfolio. Our Las Vegas Strip and Regional Operations Adjusted Property EBITDAR margins reached all-time records and our Regional Operations also delivered an all-time quarterly record in Adjusted Property EBITDAR. Our U.S. sports betting and iGaming venture, BetMGM, continues to outperform as the number two operator nationwide," said Bill Hornbuckle, Chief Executive Of...
Ryman Hospitality Properties, Inc. Reports Second Quarter 2021 Results
Ryman Hospitality Properties, Inc. | August 6, 2021
NASHVILLE, Tenn. - August 6, 2021 - Ryman Hospitality Properties, Inc., a lodging real estate investment trust (“REIT”) specializing in group-oriented, destination hotel assets in urban and resort markets, today reported financial results for the second quarter ended June 30, 2021. Second Quarter 2021 Highlights and Recent Developments: Net Loss in second quarter improved sequentially to $(63.0) million from $(117.1) million on 103.0% revenue growth Consolidated Adjusted EBITDAre for the second quarter was approximately $28.2 million, primarily driven by improvement in group performance during June Since the ou...
Hilton Signs With Al Sorouh Hospitality Development Real Estate to DoubleTree to Kingdom of Bahrain
DoubleTree by Hilton | August 6, 2021
Bahrain - August 6, 2021 - Hilton today announced plans to bring its DoubleTree by Hilton brand to the Kingdom of Bahrain. DoubleTree by Hilton Al Sayh Residences has been signed together with Al Sorouh Hospitality Development Real Estate and is due to open its doors in 2022. Board Member of the Al Sorouh Hospitality Development Real Estate and CEO of Mabanee Kuwait Waleed Alsharian said, “We believe this is a great partnership that will add a valuable offering to the area. We are very pleased to be working with Hilton and bringing DoubleTree by Hilton to the Kingdom of Bahrain and look forward to further partnerships with Hilton in...
New AAHOA/Oxford Economics Study Details Extent of AAHOA Members’ Economic Impact and Industry Influence
AAHOA | August 5, 2021
AAHOA announced the results of a new study conducted in partnership with Oxford Economics, a global leader in forecasting and quantitative analysis, on the economic impact and industry influence of the association’s nearly 20,000 Members. The study analyzed the share of U.S. hotels and rooms owned by AAHOA Members, hotel operations, hotel guest ancillary spending, capital investment, and indirect and induced impacts supported by AAHOA hotels in other parts of the U.S. economy. Among the study’s impressive conclusions, the 34,260 AAHOA Member-owned hotels account for 60 percent of all hotels in the U.S., 3.1 million guestrooms, and 2.2 mil...
Curator Hotel & Resort Collection Adds Two Independent Hotels
Curator Hotel & Resort Collection | August 5, 2021
BETHESDA, MARYLAND - August 5, 2021 - Today, Curator Hotel & Resort Collection (“Curator”) announced two new independent hotels have joined its ever-expanding collection of members: Jekyll Island Club Resort, an iconic oceanfront respite located on historic Jekyll Island, and Hotel Ändra, a luxury boutique property in downtown Seattle. “It’s thrilling to see the continued growth of our collection, especially with such renowned properties as Jekyll Island Club Resort and Hotel Ändra,” said Jennifer Barnwell, President of Curator. “Our continued momentum is helping us support the independent hotel industry, ensuring thes...
Choice Hotels International Reports 2021 Second Quarter Results
Choice Hotels® | August 5, 2021
ROCKVILLE, Md. - August 5, 2021 - Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, today reported its results for the three months ended June 30, 2021. "The strategic investments we have made in launching and enhancing our brands, strengthening our marketing and reservation systems, and bolstering our platform capabilities drove impressive second quarter results that further positioned the company to increase our share of travel demand in the years to come," said Patrick Pacious, president and chief executive officer, Choice Hotels. "Our goal is not to return to our 2019 performance levels...
