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
IHG Signs With Celebic Group to Open InterContinental Resort Amma, Canj – Montenegro
IHG Hotels & Resorts | July 22, 2021
IHG Hotels & Resorts (IHG) is proud to announce a franchise agreement with Celebic Group, one of Montenegro’s largest real estate development companies, to open InterContinental Resort Amma, Canj – Montenegro in autumn 2023. The stunning new hotel will be the first for the InterContinental brand in the market, and will join its IHG-sister property Regent Porto Montenegro in providing guests with a luxury destination overlooking the beautiful Adriatic seafront. It will be perfectly located on the Biserna Obala (Pearl Coast), part of a 1200m-long unspoiled coastline sheltered by wooded, rocky hills traditionally popular with locals a...
Centara Confirms Management Agreement With ISAHC for Al Hail Waves Hotel in Oman
Centara Hotels & Resorts | July 22, 2021
Bangkok, Thailand – July 22, 2021 – Thailand’s leading hotel operator Centara Hotels & Resorts and Ibn Saleh Al Hashmi Construction (ISAHC) announced the signing of a Hotel Management Agreement (HMA) for Al Hail Waves managed by Centara. The management of the 64-key existing property will come into effect on 1st January 2022, after which Centara will start to refurbish the property to align with Centara’s brand and operational standards while it remains in operation. “We are proud and excited to launch our third hotel in Oman, a country blessed with stunning nature, fascinating historical sites, and rich cultural herit...
LNW Hospitality Bringing Hotel to Georgia National Fairgrounds & Agricenter
LNW Hospitality | July 21, 2021
July 21, 2021 - LNW Hospitality and the Georgia Agricultural Exposition Authority (“GAEA”) announced a new hotel coming to the Georgia National Fairgrounds & Agricenter (“GNFA”), located in Perry, GA. Established in 1990, the GNFA serves as a facility for youth and agricultural organizations to exhibit, learn, compete, and promote. It is also the site of the celebrated, state-owned Georgia National Fair. The 1,100-acre complex hosts more than 200 events annually with more than one million visitors per year. The hotel will be directly visible from I-75 and will host Fairgrounds’ visitors, venders, and presenters, as well as no...
Great Wolf Resorts Breaks Ground on Great Wolf Lodge in Perryville, Maryland
Great Wolf Resorts, Inc. | July 21, 2021
CHICAGO – July 21, 2021 – Mid-Atlantic families will have something fun to howl about in 2023 as Great Wolf Resorts, Inc., North America’s largest family of indoor water park resorts, broke ground today on its newest resort in Perryville, Maryland. Great Wolf Lodge Maryland will become the brand’s 20th resort in North America, and the largest, with 700-family-friendly suites and a 126,000-square foot indoor water park. The resort will sit on 48-acres on the western edge of Cecil County, making it a convenient family getaway for those in Baltimore, Philadelphia, Wilmington and many other Mid-Atlantic and Northeast communities. ...
Sonnenblick-Eichner Company Arranges $38,000,000 of Interim First Mortgage Leasehold Financing for The Portofino Hotel & Marina, Redondo Beach, C
Sonnenblick-Eichner Company | July 21, 2021
Beverly Hills, California – July 21, 2021 – Sonnenblick-Eichner Company announced today that it has arranged $38,000,000 of interim first mortgage leasehold financing for The Portofino Hotel & Marina, a 161-room full-service hotel located in Redondo Beach, California. The new five-year floating-rate LIBOR-based loan replaces a maturing loan. The hotel features a full-service restaurant and lounge, lobby bar and indoor/outdoor meeting and event space. Amenities also include an outdoor pool, a jacuzzi and a fitness and business center. The property includes a 181-slip marina and 19 apartments. The hotel is located within Los A...
The St. Joe Company to Develop Home2 Suites by Hilton Hotel in Santa Rosa Beach, Florida
St. Joe Company | July 19, 2021
PANAMA CITY BEACH, Fl - July 19, 2021 - The St. Joe Company today announces plans for a Home2 Suites by Hilton hotel in Santa Rosa Beach, Florida. St. Joe intends to build the hotel on its property near West Hewett Road just north of US Highway 98. Plans call for the four-story hotel to feature 107 guest rooms including some one-bedroom suites. The amenities are planned to include a pool, a fitness center and an outdoor lounge with a fire pit. All Home2 Suites by Hilton hotels provide guests with free WiFi and complimentary breakfast. The planned location for the hotel is less than one mile from the iconic Scenic Highway 30A corridor and ...
Hilton Expands All-Inclusive and Luxury Portfolio in Mexico With Signing of Three Beachfront Resorts
Parks Hospitality | July 15, 2021
MCLEAN, Va. - July 15, 2021 - Leading global hospitality company, Hilton, announced today the signing of three managed resorts in Mexico, furthering the company’s all-inclusive and luxury expansion plans: Hilton Vallarta Riviera All-Inclusive Resort, Hilton Tulum All-Inclusive Resort and the luxurious Conrad Tulum. The newest additions to the company’s portfolio showcase Hilton’s deep-rooted commitment to growing its unrivaled offerings in Mexico, where Hilton has more than 70 hotels open and more than 30 in the development pipeline. “Mexico has always been an incredibly important destination for Hilton. These new additions a...
GHM Signs With Orascom to Develop a Chedi Hotel on the Red Sea at El Gouna in Egypt
GHM | July 15, 2021
SINGAPORE — July 15, 2021 — GHM has signed an agreement to unveil another Chedi hotel, this time on the Red Sea at El Gouna in Egypt. The new hotel -- The Chedi El Gouna, Red Sea, Egypt -- is to be developed on the foundation of an existing, 86-key charming beachfront property. It will be perfected by The Chedi’s signature Asian aesthetics of timeless design. The Chedi El Gouna marks the third collaboration between the Singapore-based hotel group, GHM, and Switzerland-based Orascom Hotels Management. The two groups came together on an initial effort that resulted in The Chedi Andermatt, which in five years has established itself as o...
S Hotels & Resorts and Wai Eco World Developer Sign Agreement to Bring SO/, Accor’s Avant-Garde Lifestyle Brand, to the Maldives
S Hotels and Resorts Public Company Limited | July 15, 2021
BANGKOK, THAILAND - July 15, 2021 - S Hotels and Resorts Public Company Limited, the flagship hospitality arm of Thailand’s Singha Estate PCL, continues to expand its footprint in the Maldives and redefine the tourism and hospitality industry in this idyllic Indian Ocean archipelago with the signing of a hotel management agreement to introduce SO/ Hotels & Resorts, Accor’s rebellious luxury lifestyle brand. The project will be owned by an equal joint venture with Wai Eco World Developer Pte. Ltd. (WEWD), a leading business and real estate conglomerate. SO/ Maldives will showcase a selection of 80 spectacular villas, including beach...
Paramount Lodging Advisors Arranges the Sale of the Holiday Inn La Mesa San Diego, California
Paramount Lodging Advisors | July 14, 2021
Paramount Lodging Advisors (PLA) is pleased to announce the sale of Holiday Inn La Mesa San Diego to Greens Group based in Irvine CA. The hotel is located at 8000 Parkway Dr, La Mesa, CA, proximate to a diverse base of demand generators that included San Diego State University, Sharp Grossmont Hospital, Regen BioPharma, Zander Therapeutics, Grossmont Center for Clinical Research, and Kaiser Permanente. The two-story, 141-room, Holiday Inn hotel will undergo a multi-million-dollar renovation to be repositioned as a Holiday Inn Express. The PLA team members Senior Managing Director, Scott Griemsmann and Senior Associate, Subu Thiagarajan ...
Aimbridge Hospitality’s Asia Investment Group Adds Three New Hotels
Aimbridge Hospitality | July 14, 2021
PLANO, TX – July 14, 2021 – Aimbridge Hospitality, a leading multinational hospitality company, announced its Asia Investment Group has added three new properties to its growing portfolio since June. "We are very pleased to see sustained growth in our portfolio, which is now well above 16,000 rooms," said Don Li, Executive Vice President & Head of Asia Investment Group. "2020 was an explosive year for us, and we have leveraged that momentum this year." The DoubleTree Suites by Hilton Hotel Salt Lake City Airport is a newly-renovated 288 key full service property located five minutes to Salt Lake City Airport via a complimentar...
Signia by Hilton Orlando Bonnet Creek Debuts as Signia by Hilton’s First Property
Signia by Hilton | July 14, 2021
ORLANDO, FLA. – July 14, 2021 – Today, Hilton announced the conversion of Hilton Orlando Bonnet Creek to Signia by Hilton Orlando Bonnet Creek, marking Hilton’s first Signia by Hilton property. Owned by Park Hotels & Resorts, Signia by Hilton Orlando Bonnet Creek is part of the iconic Bonnet Creek Complex which also features Waldorf Astoria Orlando. The recently renovated upper-upscale hotel is the first to debut as part of the Signia by Hilton brand, which features a portfolio of premier hotels in highly sought-after urban and resort destinations offering sophisticated business and leisure travelers an elevated hotel experience...
Park Hotels & Resorts Executes Definitive Contracts to Sell Two San Francisco Hotels
Park Hotels & Resorts | July 13, 2021
TYSONS, VA - July 13, 2021 - Park Hotels & Resorts Inc. today announced that it has entered into two separate, definitive contracts to sell the 360-room Le Meridien San Francisco and the 171-room Hotel Adagio, Autograph Collection (San Francisco, CA) for total proceeds of $303.5 million, or an average sale price of approximately $572,000 per key. When adjusted for Park’s anticipated capital expenditures (“capex”), the blended sale price represents a 6.1% capitalization rate on 2019 net operating income (6.7% excluding capex), or 14.4x 2019 EBITDA (13.2x excluding capex). Management currently expects each of the transactions to close...
Hyatt Opens Hyatt Regency Tokyo Bay Following Renovation
Hyatt Regency | July 12, 2021
CHICAGO - July 12, 2021 - Hyatt Hotels Corporation (NYSE:H) announced today the opening of Hyatt Regency Tokyo Bay. The newly renovated 350-room urban resort is located in Urayasu city in the Chiba Prefecture and offers panoramic views of Tokyo Bay. It is close to premier attractions such as Tokyo Disney Resort®, the entertainment and shopping district of Odaiba, and Makuhari Messe, one of Japan’s largest convention centers. The property is just 30 minutes by train or car from central Tokyo. Hyatt Regency Tokyo Bay is the eighth Hyatt Regency branded hotel in Japan. Hyatt is strategically growing its presence across the country from ...
Radisson Hotel Group Signs New Radisson Blu in China’s Changyuan, Henan Province
Radisson Hotel Group | July 12, 2021
Radisson Hotel Group continues to extend its footprint in China with the signing of a new Radisson Blu property that will become the first internationally branded upper-upscale hotel in Changyuan, a rapidly emerging city in Henan province. Currently under construction and scheduled to open its doors in the fourth quarter of 2024, Radisson Blu Hotel, Changyuan will form part a major new mixed-use project in Puxi, the city’s new CBD, surrounded by office buildings, retail malls, residences and conference facilities. It will also be easily accessible from the city’s key business and industrial parks. Changyuan is a third-tier city located ...
Porsche Design and Steigenberger to Establish Joint Hotel Brand
DEUTSCHE HOSPITALITY | July 9, 2021
Functional design and a unique brand experience are about to merge at the very highest level. Dr. Jan Becker (CEO Porsche Design Group) and Marcus Bernhardt (CEO Steigenberger Hotels AG/Deutsche Hospitality) met at the Steigenberger Icon Hotel Frankfurter Hof to sign an agreement that heralds the creation of a joint hotel brand. The intention is that “Steigenberger Porsche Design Hotels” will be launched in selected international metropolises in the future. This unique hotel concept will be positioned in the Luxury Lifestyle Segment. Such collaboration represents a significant step for both companies. “Steigenberger Hotels & Reso...
1 Hotel & Homes Island Sanctuary Elounda Hills to Premiere in 2025 on Crete
1 Hotels | July 9, 2021
NEW YORK - July 9, 2021 - 1 Hotel & Homes Elounda Hills will be the newest sustainable sanctuary of 1 Hotels, offering an unparalleled luxury hotel experience that honors ancient Mediterranean history and its undeniable influence on the modern world. Situated on the northeast coast of Crete, this Grecian oasis is not only surrounded by the enchanting Elounda Hills and rugged coastline of Mirabello Bay — it's welcomed by a culture centered around warmth, vitality, and hospitality. With their pioneering vision, Mirum Hellas will develop the property, and SH Hotels & Resorts will operate the exquisite escape, following its prospect...
Viva Wyndham Resorts Breaks Ground on 750-Room Hotel in Miches, Dominican Republic
Viva Wyndham Resorts | July 8, 2021
MIAMI - July 8, 2021 - Viva Wyndham Resorts, a collection of all-inclusive resorts located in the Caribbean, including the Bahamas, Dominican Republic, and Mexico, today announced the groundbreaking of a 750-room hotel in Miches, Dominican Republic, in an event that was attended by the President Luis Abinader. The resort, the first hotel to settle in the Miches area, was made possible by a $60 million investment to kick off the first stage of construction. It is expected to open its doors in 2023 and will generate 500 direct jobs and 1,500 indirect positions. “For Viva Wyndham, this resort marks a new period of expansion in the touris...
Parks Hospitality Group to Open DoubleTree by Hilton Asheville Downtown
Parks Hospitality Group | July 8, 2021
Asheville, N.C. - July 8, 2021 - Parks Hospitality Group, owners of the former Hyatt Place Asheville/Downtown, announced the property’s conversion to DoubleTree by Hilton Asheville Downtown, which will join the Hilton portfolio in July 2021. The hotel will continue to be operated by Parks Hospitality Group. “We are thrilled to continue to be part of the vibrant Asheville community and excited to partner with this iconic hospitality brand,” said Chris Hardy, vice president of sales & revenue strategy, Parks Hospitality Group. Located in downtown Asheville, the hotel features 140 guest rooms – including specialty corner-vi...
TAFER Hotels & Resorts Further Invests in Mexico Through Major Resort Expansion Over Next Five Years
TAFER Hotels & Resorts | July 8, 2021
PUERTO VALLARTA — July 8, 2021 — TAFER Hotels & Resorts - a leisure and hospitality company with an ever-growing and evolving collection of award-winning hotels, luxury resorts, and boutique villas located throughout Mexico’s most coveted beach destinations - is pleased to announce its ambitious investment initiative, encompassing the development of thousands of hotel rooms, and the introduction of several new luxury properties. Under its new Management Services division, TAFER will double its portfolio to 8,000 hotel rooms, while generating well over 6,000 direct and indirect jobs over the next five years. The expansion will incl...
Baird/STR Hotel Stock Index Dropped 3.0% in June
Baird | July 7, 2021
HENDERSONVILLE, Tennessee, and MILWAUKEE — July 7 2021 — The Baird/STR Hotel Stock Index dropped 3.0% in June to a level of 4,993. Year to date through the first six months of 2021, the stock index was up 9.2%. “Hotel stocks declined again in June and continued their relative underperformance versus the benchmarks for the fourth consecutive month,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Despite continued sequential fundamental improvement and strengthening demand trends, especially domestically, hotel stocks have been laggards since the reopening momentum peaked in March. Investors remain f...
IHG Signs With RIVA Development Company to Develop InterContinental Riyadh King Fahed Road
IHG Hotels & Resorts | July 6, 2021
IHG® Hotels & Resorts, one of the world’s leading hotel companies, has announced the signing of InterContinental Riyadh King Fahed Road, as part of a Master Development Agreement (MDA) with RIVA Development Company via its wholly owned subsidiary RIVA Hospitality for Hotel Services Company. The latest development follows the signing of Hotel Indigo Riyadh King Abdallah Road, and is the second of at least 7 hotels to be announced with the partner, with all openings set to take place in Saudi Arabia across IHG’s portfolio of brands in the coming years. Pioneering luxury travel since 1946, this year, the iconic InterContinental b...
MGM Resorts International Enters Agreement to Purchase Infinity World’s 50% Interest in CityCenter for $2.125 Billion
MGM Resorts International | July 1, 2021
LAS VEGAS - July 1, 2021 - MGM Resorts International ("MGM Resorts" or the "Company") (NYSE: MGM) today announced that it has entered into a definitive agreement to purchase Infinity World Development Corp's ("Infinity World") 50 percent interest in CityCenter Holdings, LLC for $2.125 billion. The purchase price represents an implied valuation of $5.8 billion based on net debt of $1.5 billion, after giving effect to the recently closed sale of a two-acre parcel. The agreement will make MGM Resorts the 100 percent owner of CityCenter on the Las Vegas Strip, which is comprised of Aria Resort & Casino and Vdara Hotel and Spa. "CityCenter ...
Asset World Corporation and Nobu Hospitality Announce Plans to Expand Nobu Hotels and Restaurants in Thailand
Nobu Hospitality | July 1, 2021
Asset World Corp Public Company Limited (AWC), Thailand's leading integrated lifestyle real estate group and Nobu Hospitality, the global lifestyle brand founded by Nobu Matsuhisa, Robert De Niro and Meir Teper, are delighted to announce a new partnership established to meet the needs of existing and future travellers by creating new unique experiences. Both parties have signed a memorandum of understanding to complete an area development agreement covering Thailand with intent to open multiple Nobu Hotels and Restaurants exclusively with AWC in Thailand’s most compelling destinations, including Bangkok’s first ever Nobu restaurant, ex...
