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
Avison Young 2021 Transactions
Avison Young | March 25, 2021
ATLANTA – March 25, 2021 – Avison Young Hospitality Group announced today that the firm has just closed its 14th hotel transaction of the 2021 year. The closed hotel transactions were across many brand families and located from California through the Midwest and eastern seaboard states. Most of the assets were in the mid-market to upper mid-market tiers. Keith Thompson said, “We are beginning to see transactions close at the best rate since the start of COVID and it is our expectation that 2021 will be a much stronger investment cycle than the second half of 2020.”...
Choice Hotels Reveals The Comfort® Rise & Shine Prototype
Comfort | March 25, 2021
ROCKVILLE, Md. - March 25, 2021 - Choice Hotels International, Inc. today unveiled the new Comfort Rise & Shine prototype as the next milestone for its flagship, upper midscale brand. The prototype celebrates the successes of the iconic brand as Comfort marks its 40th anniversary this year, and positions the brand for continued performance and system growth. The first new construction Rise & Shine prototype hotels are expected to open in 2023. "At Choice, we're always building, innovating and evolving, with guest satisfaction and owner return at the forefront of what we do," said Pat Pacious, president and chief executive officer...
Avison Young Closes Hotel Loan Portfolio
Avison Young | March 25, 2021
ATLANTA – March 25, 2021 – Avison Young Hospitality Group announced today that the firm has closed on a hotel loan portfolio led by Avison Young principal, Andrew Broad. The portfolio consisted of multiple hotel loans in the Carolinas secured by upper midscale Marriott branded hotels. Andrew Broad, Principal said, “This portfolio loan sale represents what could be the next transaction market cycle. MCR Development was the purchaser of the portfolio and we have deep history with them. In the 2021 hotel transaction market, the greatest character traits a buyer can have is, credibility, capability, and the willingness to do what they sa...
Hilton Signs With Dhabi Hospitality for DoubleTree by Hilton Islamabad West in Pakistan
DoubleTree by Hilton | March 24, 2021
ISLAMABAD, Pakistan - March 24, 2021 - Hilton will be bringing its hospitality to Pakistan once again. An agreement signed with Dhabi Hospitality will see its upscale DoubleTree by Hilton brand launch in the city of Islamabad in 2025. Carlos Khneisser, vice president of development, Middle East and Africa, Hilton said: “This is a landmark agreement for Hilton that signals our re-entry to the Pakistan market. We are doing so as part of a groundbreaking development in the country’s business capital and one which will offer unparalleled convenience for travelers to the New Islamabad International Airport, which is ultimately expected to...
Radisson Signs With Axcel Group Limited for Radisson RED London Garwick Airport
RADISSON RED | March 23, 2021
Radisson Hotel Group announces the signing of Radisson RED London Gatwick Airport – located in proximity to the terminal at the second busiest airport in the UK. This is the second Radisson RED property at a UK airport, offering guests memorable, playful experiences in major hubs for international travel. Set to open in Q3 2021, the creative hotel will offer 185 contemporary designed guest rooms, a bistro style restaurant and bar, a well-equipped fitness room, as well as social meeting spaces in bold design waiting to kickstart the fun. Adela Cristea, Vice President, Head of Business Development UK & Ireland, Radisson Hotel Group...
Aimbridge Hospitality Selected by Dreamscape Companies to Manage Las Vegas Multi-Brand Project
Aimbridge Hospitality | March 23, 2021
PLANO, Texas - March 23, 2021 - Aimbridge Hospitality, the leading, global, third-party hotel management company, has been engaged by Dreamscape Companies as their operating partner to reposition the Rio Las Vegas to multiple Hyatt full-service brand offerings. "Aimbridge Hospitality's capabilities, depth of expertise, and resource-rich support is unrivaled; I couldn't think of a better team as our hotel operations partner for this venture," said Eric Birnbaum, Founder & CEO of Dreamscape Companies. "By pairing their operational expertise with our investment team, we have created a differentiated platform and opportunity to unlock valu...
Marriott International Signs Agreement With Al Saedan Group to Bring Three Hotels to Saudi Arabia
Marriott International | March 23, 2021
March 23, 2021 - Marriott International, Inc. (NASDAQ: MAR) today announced it has signed an agreement with Al Saedan Group, a leading real estate company in the Middle East, to open three hotels across Saudi Arabia. The multi-project agreement includes the country and territory’s first Renaissance Hotel, the world’s largest Aloft Hotel and a Courtyard by Marriott in the Holy City of Makkah. All three properties are projected to open by 2025. “We are pleased to build on our fantastic relationship with Al Saedan Group and further expand our portfolio across Saudi Arabia with these milestone signings,” said Satya Anand, President for...
Paramount Capital Advisors Welcomes Eli Levenfeld to the Team
Paramount Capital Advisors | March 22, 2021
Paramount Capital Advisors (“PCA”) is pleased to announce the addition of Eli Levenfeld as the newest Associate to the team where he will be responsible for business development, underwriting and closing transactions. Most recently, Levenfeld worked on the Secured Debt Team at Equity LifeStyle Properties, where he originated and closed over $660 million in debt for the company’s portfolio. Mr. Levenfeld received his Bachelor’s degree from The University of Texas at Austin in American Studies and received a Business Certificate from the McCombs School of Business. “We are very excited to have Eli as part our team”, said Jo...
Hilton Sets Sights on Growth in Thailand
Hilton | March 22, 2021
THAILAND - March 22, 2021 - Leading global hospitality company Hilton (NYSE: HLT) has announced its commitment to convert up to 2,000 rooms in 24 months in Thailand, with a focus on its full service brands Hilton Hotels & Resorts and DoubleTree by Hilton, as well as focused service brand Hilton Garden Inn. Emerging from one of the industry’s most challenging years, Hilton’s recent full year 2020 earnings results showed signs of optimism in development activity globally, with conversion signings for Hilton across the globe increasing more than 30 percent versus the prior year. With the impact of the global pandemic on Thailand...
Savannah Breaks Ground on $271 Million Convention Center Expansion
| March 19, 2021
Georgia Governor Brian Kemp, along with Savannah Mayor Van Johnson and Visit Savannah President Joseph Marinelli welcomed elected officials, economic development and business leaders gathered to join them for the groundbreaking ceremony for the new Savannah Convention Center expansion on March 17, 2021. The groundbreaking marks a milestone in the project’s history that began in 2017 when the Georgia General Assembly allocated the initial funding for the planning and design of the Savannah Convention Center expansion. During construction, the Savannah Convention Center will remain fully operational, continuing its more than 20-year track re...
Four Seasons Hotels and Resorts and Emin Capital Announce Upcoming Project in Mallorca
Four Seasons Hotel and Resorts | March 19, 2021
TORONTO - March 19, 2021 - Four Seasons Hotels and Resorts, a global leader in luxury hospitality, and Emin Capital, a private equity investment company focused on hospitality and real estate, announce plans for Four Seasons to manage the former Hotel Formentor in Mallorca, Spain. Originally opened in 1929, the existing hotel will undergo extensive renovations before it is unveiled as a Four Seasons experience in 2023. The property will offer 110 rooms and suites and is located on a 1,200 hectare (3,000 acre) plot of the Formentor Peninsula, offering access to a pristine beach, as well as a functioning vineyard a short five-minute drive a...
Hyatt Flags to Fly on Rio Las Vegas in Partnership With Dreamscape Companies
Dreamscape | March 18, 2021
CHICAGO – March 18, 2021 – Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into franchise agreements with an affiliate of Dreamscape Companies LLC, which will lead the renovation of the Rio Las Vegas. The multi-phase project is expected to bring multiple Hyatt full-service offerings to Las Vegas, one of the most visited leisure, group, and convention markets in the world, in the renovated Rio hotel. “We are thrilled that Dreamscape will help us bring multiple Hyatt full-service brands to Las Vegas, starting with a Hyatt Regency hotel, which we believe will deliver on the Hyatt Regency brand promi...
IHG Signes With Swornim Hotel Pokhara Private Limited to Develop New Holiday Inn Express in Nepal
IHG Hotels & Resorts | March 18, 2021
IHG® Hotels & Resorts, one of the world’s leading hotel companies, has signed a management agreement with Swornim Hotel Pokhara Private Limited to develop a new Holiday Inn Express hotel - Holiday Inn Express Pokhra Lakeside, in Nepal. The new-build hotel will feature 110 keys and will be operational by the first quarter of 2025. IHG currently has four hotels under development across the Holiday Inn brand family in Nepal and this latest signing will further strengthen the company’s mainstream portfolio in the tourism capital of the country. Strategically located close to the city’s main tourist hub, ‘Lakeside’ and with proxi...
Hilton Garden Inn Austin University Capitol District to Open Summer 2021
Hilton Garden Inn | March 18, 2021
NEW ORLEANS – March 17, 2021 – The Hilton Garden Inn Austin University Capitol District, a joint venture between Rockbridge and HRI Properties, LLC is expected to debut Summer 2021. Managed by HRI Lodging, LLC, the 214-room property will feature guestrooms with sweeping city views, a ground-level bar and lounge, a breakfast room, an expansive rooftop deck and close to 3,000 square feet of flexible indoor and outdoor meeting and event space. Located in central Austin, the property is within walking distance of a number of key sites, including the state capitol, University of Texas Austin, Blanton Museum, Museum of the Weird and many cit...
Royal Hotel Investments Breaks Ground on Home2 Suites in Covington, Georgia
Home2 Suites by Hilton | March 17, 2021
March 17, 2021 - Royal Hotel Investments (RHI) has broken ground for a Home2 Suites by Hilton in Covington, Georgia, which is located 35 miles east of Atlanta. “This hotel emphasizes our company’s long-term commitment to the community,” said Navin Shah, Chairman of RHI. “When our country comes back from the current COVID crisis, we will offer a safe, comfortable place for people to come together – a trusted site to collect their thoughts, rest their bodies, and gather with friends and family.” The hotel will have 100 rooms, including eight one-bedroom suites, and is expected to open in July of 2022. It is located immedia...
Knighthead Funding Originates $61 Million Loan to Refinance Dorado Beach, a Ritz-Carlton Reserve, in Dorado Beach, Puerto Rico
Knighthead Funding LLC | March 17, 2021
Greenwich, CT (March 17, 2021) – Knighthead Funding has provided a $61 million first mortgage loan secured by Dorado Beach, a Ritz-Carlton Reserve, in Dorado Beach, Puerto Rico. The five-year, floating-rate, non-recourse loan from Knighthead Funding refinances maturing debt. As the first Ritz-Carlton Reserve Hotel in the Americas and one of only five in the world, Dorado Beach, a Ritz-Carlton Reserve, is one of the most luxurious properties under the Ritz-Carlton Reserve flag. Opened in 2012, Dorado Beach, a Ritz-Carlton Reserve, is situated in the exclusive gated neighborhood of Dorado Beach, on the former Laurence Rockefeller estate...
U.S. Market Recovery Monitor – 6 March 2021
STR | March 15, 2021
15 March 2021 - About the MRM As the U.S. hotel industry hits the one-year anniversary of the earliest COVID-19 impact, year-over-year percentage changes become less actionable when analyzing performance recovery. Thus, STR has introduced a weekly Market Recovery Monitor that will categorize each STR-defined market based on an indexed comparison with the same time periods in 2019. An index is simply a ratio that divides current performance by the benchmark (2019 data). For example, during the week ending 6 March 2021, U.S. RevPAR was $48.13. In the comparable week from 2019, RevPAR was $87.75. This produces an index of 54.8 ($48.13/$87....
Asset World Corporation and Hyatt Sign Framework Agreement to Develop Over 1,000 New Rooms
Hyatt Hotels Corporation | March 11, 2021
CHICAGO – March 11, 2021 – Asset World Corporation (AWC), Thailand's leading integrated lifestyle real estate group and Hyatt Hotels Corporation (NYSE:H), today announced their affiliates have signed a Framework Agreement for the development and management of new hotels under various Hyatt brands in locations across Thailand. The Framework Agreement outlines the expected development of more than 1,000 new rooms across multiple Hyatt-branded hotels, which will give guests, customers, and World of Hyatt members even more hotel offerings and experiences in key tourism destinations throughout the country. These hotels will strengthen Thailand...
Curator Hotel & Resort Collection Welcomes 13 Member Hotels From Noble House Hotels & Resorts
Curator Hotel & Resort Collection | March 9, 2021
BETHESDA, MARYLAND - MARCH 9, 2021 - Curator Hotel & Resort Collection (“Curator”) announced today that it has welcomed 13 new member hotels into its collection from the renowned Noble House Hotels & Resorts, one of the hotel industry’s leading owners and managers of lifestyle hotels and resorts. These 13 distinct hotels and resorts join Curator only four months since its November 2020 launch, which includes an increasing number of independent hotels recognizing the value-enhancing benefits of working in cooperative competition. Noble House Hotels & Resorts is also one of Curator’s six founding members. “Noble House...
Hampton by Hilton Signs Agreements for Two New Hotels in Poland
Hampton by Hilton | March 9, 2021
POLAND and MCLEAN, Va. - March 5, 2021 - Hilton (NYSE: HLT) today announced plans to open two new Hampton by Hilton hotels in Poland, following the signing of two franchise agreements. Hampton by Hilton Bialystok will be developed by Rogowski Development and managed by VHM Hotel Management and will include 122 guest rooms when it is expected to open later this year. The 135-guest room Hampton by Hilton Tarnowo Podgórne is expected to open in late 2023. The hotel is owned by Grupa Konkret S.A., and will be managed by City Park Hotel Management. Patrick Fitzgibbon, senior vice president, development, for Europe, Middle East and Africa, ...
Hospitality Lodging Systems Adds Two Wisconsin AmeriVu Properties
| March 9, 2021
March 9, 2021 - The AmeriVu brand continues to grow with the addition of two hotels in Wisconsin – a 50-room former Super 8 in Shawano, about 40 miles northwest of Green Bay, and a 47-room former independent in Saint Croix, about 55 miles northeast of Minneapolis-St. Paul. “After a year of economic pain in 2020, hotel owners are ready for the return to more stable, more profitable results that our three brands deliver,” said Doug Collins, Chairman and CEO of Hospitality Lodging Systems (HLS), which offers the AmeriVu brand along with Budgetel and Haven Hotel. “In today’s financial environment, owners are drawn to our unlimited...
SH Hotels & Resorts Bringing Treehouse Hotel to Brickell, Miami
SH Hotels & Resorts | March 8, 2021
MIAMI, March 8, 2021 -- SH Hotels & Resorts, an affiliate of global private investment firm Starwood Capital Group led by Chairman and CEO Barry Sternlicht, today announced that it will open its award-winning Treehouse Hotel in Miami, the brand's first U.S. location, in 2023. Treehouse Hotels debuted in London in 2019. Treehouse Hotels are about freedom and fun—the wondrous, childhood feeling of climbing into a treehouse and making up your own rules. Designed to appeal to the child in all of us, Treehouse Brickell will be imaginative and nostalgic—inspired by simple joys. Urban yet earthy. Responsible and caring. Dreamed a...
The St. Regis Almasa Opens in Egypt Following Rebranding From Almasa Hotel
St. Regis Hotels & Resorts | March 4, 2021
CAIRO, Egypt - March 4, 2021 - St. Regis Hotels and Resorts (www.StRegis.com), part of Marriott International (www.Marriott.com), today announced the opening of The St. Regis Almasa with the rebranding of the Almasa Hotel. Located in the New Administrative Capital of Egypt, The St. Regis Almasa is poised to become the best address in the heart of the up-and-coming city, which is slated to be the new face of Cairo and the administrative and financial hub of Egypt. “We are delighted to bring our iconic St. Regis brand to the New Administrative Capital together with the National Authority for Management & Investment,” said Guido De W...
Taormina’s Legendary San Domenico Palace to Reopen as a Four Seasons Hotel This Summer
Four Seasons Hotels and Resorts | March 4, 2021
TAORMINA, Italy - March 4, 2021 - Perched high above the deep blue waters of the Ionian Sea and in the magnetic presence of Mount Etna, one of Europe's most storied hotels will soon be reborn as San Domenico Palace, Taormina, A Four Seasons Hotel. "This is truly a jewel in our crown of historic properties throughout the Mediterranean region, and the perfect complement to our beloved Four Seasons hotels in Milan and Florence," says Simon Casson, President, Hotel Operations - Europe, Middle East and Africa. "San Domenico Palace is a legend in European hospitality, and it is our honour to welcome the hotel into our portfolio on the occa...
