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
Wyndham Breaks Ground on First LaQuinta and Hawthorn Suites Dual-Brand Hotel in Pflugerville, Texas
La Quinta by Wyndham | March 4, 2021
PARSIPPANY, NJ - March 4, 2021 - Wyndham Hotels & Resorts (NYSE: WH) – the world's largest hotel franchising company with over 8,900 hotels across nearly 95 countries and territories – announced today the first groundbreaking of its new La Quinta and Hawthorn Suites dual-brand hotel concept in Pflugerville, Texas. This marks the first-ever pairing of these two flags under the same roof and enables owners to target both the business transient and extended-stay demand within any given market. The company has 36 La Quinta and Hawthorn dual-branded hotels in its development pipeline in markets such as San Antonio and El Paso, Texas; Yuma,...
New Sapphire Bay Resort, a Destination Hotel, Will Anchor New $1 Billion Mixed-Use Community in Rowlett, Texas
Sapphire Bay | March 3, 2021
ROWLETT, Texas -- March 3, 2021 -- Sapphire Bay, the new $1 billion master-planned mixed-use development project on the shore of Lake Ray Hubbard with a multiphase opening beginning in 2022, announced today that Hyatt will operate the new Sapphire Bay Resort & Conference Center on behalf of a public-private partnership with the City of Rowlett. Set to be located on the Sapphire Bay Peninsula and expected to open in fall 2023, the resort will join Hyatt’s Destination Hotels brand and showcase more than 500 guestrooms, suites and villas each with waterfront views overlooking Lake Ray Hubbard and the seven-acre man-made Sapphire Bay Lagoon...
Marriott International Signs Agreement with Core Hospitality to Bring Residence Inn By Marriott to The Nordics
Marriott International | March 3, 2021
COPENHAGEN, DENMARK — MARCH 3, 2021 — Marriott International announced today that it has signed an agreement with Danish hotel operator Core Hospitality to bring the first Residence Inn by Marriott to the Nordics. Residence Inn by Marriott Copenhagen, Nordhavn will be located in Copenhagen’s North Harbour district, just five kilometres from the city center. Owned by PFA Properties, the hotel will become part of the group’s prestigious Nordø development project in the North Harbour area. With construction having begun in Q2 2020, the property is expected to open in 2023. “The introduction of the Residence Inn by Marriott brand in...
Loews Hotels & Co and Omni Hotels & Resorts Form Cross-Selling Partnership
Loews Hotels & Co | March 2, 2021
NEW YORK / DALLAS – March 2, 2021 – Two of the only remaining Branded independent hospitality companies in North America, Loews Hotels & Co and Omni Hotels & Resorts, announced today the forming of a new partnership rooted in cross-selling, cross-marketing and collaborating within the sales process. The partnership primarily targets both companies’ leisure travelers, allowing increased distribution in markets where there is no crossover between the two. For example, Omni travelers looking to soak up the sun in South Beach or have a NYC getaway now have access to Loews Miami Beach Hotel or Loews Regency New York Hotel. Simil...
Accor Partners With Daniel Cárdenas Family to Develop First Hyde Hotel & Residences in México
HYDE | March 2, 2021
NEW YORK - March 2, 2021 - Accor, a world-leading hospitality group, today announced México's first Hyde hotel and branded residences to be built in Mazatlán, a Mexican coastal resort town along the Pacific shoreline in the state of Sinaloa. The project is being developed in collaboration with owner, Daniel Cárdenas Family, an international agriculture company based in Sinaloa with more than 70 years of experience exporting vegetables to the US and Canada. This news comes on the heels of Accor's recent announcement regarding its planned venture with Ennismore, which will see the creation of one of the world's largest and fastest growin...
Hard Rock to Redevelop Iconic Gibson Mandolin-Guitar Manufacturing Co. Site for New Hotel Property
REVERB by Hard Rock | March 1, 2021
HOLLYWOOD, Fla., March 1, 2021 -- Hard Rock Hotels announced plans for development of a new addition to the REVERB by Hard Rock portfolio, their business casual hotel concept designed to be an energetic cultural hub for connection, creation and inspiration among music fans, locals, and travelers alike. REVERB by Hard Rock Kalamazoo will embody the brand's modern, urban design package, featuring traveler-friendly integrated technology, smart rooms, shared spaces designed for collaboration, and will offer programming highlighting local music, food and entertainment. Working in partnership with PlazaCorp Realty Advisors and Dora Hotel Comp...
JLL: Hotel Investment Outlook 2021
JLL | March 1, 2021
This report shares anticipated investor trends accelerated since the onset of the pandemic Uncertainty and cautiousness plagued hotel investor interest in 2020 due to the COVID-19 pandemic, however, the global lodging industry is eager to move forward. According to JLL Hotels & Hospitality’s annual Hotel Investment Outlook, the industry’s resilience has shaped new experiences and demand from consumers. It has also introduced a wave of trends that have been accelerated as hotel leaders quickly shifted operations and strategy to navigate through one of the most transformational and economically challenging times in modern h...
Extended Stay America Launches New Premier Suites Brand
Extended Stay America® | March 1, 2021
Charlotte, NC — March 1, 2021 — Extended Stay America, Inc. (NASDAQ:STAY), the largest mid-priced extended-stay hotel brand, announced today the launch of Extended Stay America Premier Suites. The new brand will feature new construction and fully renovated properties with upgraded amenities to target higher-rated extended-stay guest segments, expanding Extended Stay America’s reach. The Company will also rebrand the remaining portfolio to Extended Stay America Suites. “With industry leading brand awareness, Extended Stay America is the brand extended-stay travelers trust to deliver what matters most when they are away from home f...
Four Seasons and Omnam Group Announce Plans for Beachside Resort in Southern Italy
Four Seasons Hotel and Resorts | February 25, 2021
TORONTO - Feb. 25, 2021 - Four Seasons Hotels and Resorts, an international leader in luxury hospitality, and Omnam Group, a global real estate firm, announce plans for a brand-new resort in Puglia, the stunning coastal region of southern Italy. Located on a pristine beachfront property, the upcoming Four Seasons property in Puglia will be comprised of 150 rooms and suites. The exclusive seaside location will offer guests views of the Adriatic Sea and direct beach access, along with easy accessibility to the nearby historic town of Ostuni and countless other attractions in the region. "As we grow as a brand, our focus is on opening ho...
Hyatt Signs With IFF Holdings for Hyatt Regency Resort and Spa and Residences in Vietnam’s Popular Beach Destination, Ho Tram
Hyatt Regency | February 25, 2021
HONG KONG – FEBRUARY 25, 2021 – Hyatt announced today that a Hyatt affiliate has entered into an agreement with IFF Holdings Joint Stock Company (“IFF Holdings”) for Hyatt Regency Ho Tram Resort and Spa and Residences. Slated to open in 2024, this will be the first Hyatt Regency development in the south of Vietnam. With 280 guestrooms and 63 pool villa residences, Hyatt Regency Ho Tram Resort and Spa and Residences will be situated in a prime location along an over 1,000-foot (330-meter) picturesque coastline known for its pristine sandy beaches, turquoise waters and coastal vibe. Ho Tram is a popular weekend getaway for Vietname...
Crescent Real Estate Plans Mixed-Use Development in Fort Worth’s Cultural District
| February 24, 2021
FORT WORTH, Texas - Feb. 24, 2021 - Fort Worth-based Crescent Real Estate LLC ("Crescent") today announced plans for a major mixed-use development in Fort Worth's Cultural District. The project will include a premier boutique hotel with a chef-driven restaurant, luxury residential, and a Class A office building, which will be home to Crescent Real Estate, Goff Capital, Inc., Contango Oil & Gas, and Canyon Ranch. "We are excited to bring a first-class mixed-use project to the Cultural District," said John Goff, Chairman of Crescent. "The Crescent brand is known around the country for our luxury hotel, office, and residential pr...
Nobu Partners With SIGNA Real Estate for Nobu Hotel in Elbtower Hamburg, Germany
February 24, 2021
NEW YORK - Feb. 24, 2021 - Nobu Hospitality, the global lifestyle brand founded by Nobu Matsuhisa, Robert De Niro and Meir Teper, is delighted to announce its continuing global expansion into the "Gate to the World," Hamburg, Germany. "We are very happy to be working with SIGNA in developing the Nobu Hotel in the great city of Hamburg," stated Robert De Niro and Chef Nobu Matsuhisa, Founders of Nobu Hospitality. The Nobu Hotel and Restaurant will be located within the Elbtower, a project by SIGNA Real Estate, one of Europe's leading property companies. The Elbtower will be a mixed-use development destination encompassing pre...
IHG Signs With NR Greenwood Construction to Develop Staybridge Suites Bengaluru Thanisandra in India
IHG Hotels & Resorts | February 24, 2021
24 FEBRUARY 2021 - IHG Hotels and Resorts, one of the world’s leading hotel companies has announced the debut of its world-renowned extended stay brand, Staybridge Suites® in India with the signing of Staybridge Suites Bengaluru Thanisandra. Signed as a management agreement in partnership with NR Greenwood Construction Pvt. Ltd, the hotel is expected to be operational in the first quarter of 2023. Debuting in the ‘Silicon Valley of India’, Bengaluru, which is also recognised as the second fastest-growing major metropolis in the country, the hotel is expected to benefit from the strong demand for extended stay branded hospitality option...
Extended Stay America Expands Footprint in Oklahoma With Three Franchise Conversions
Extended Stay America® | February 24, 2021
Charlotte, NC — February 24, 2021 — Extended Stay America, Inc., the largest mid-priced extended-stay hotel brand, announced today the addition of three properties in Oklahoma through franchise conversions. The properties are all owned by Dallas-based Provident Realty Advisors, Inc. and will be operated by Plano, Texas-based Aimbridge Hospitality, the leading, global, third-party hotel management company. The properties include: Extended Stay America Bartlesville – Hwy 75, Bartlesville, Oklahoma Extended Stay America McAlester – Hwy 69, McAlester, Oklahoma Extended Stay America Lawton – Fort Sill, Lawton, Oklahoma ...
Avison Young Transaction Volume on the Rise
Avison Young | February 24, 2021
ATLANTA – February 24, 2021 – Avison Young Hospitality Group said today that their hotel transaction volume so far in 2021 has been good. The firm went on to say that out of 111 current engagements actively on the market, they have 52 under sale agreement. Keith Thompson said, “clearly, the hospitality real estate market is expecting that vaccines will aid the hotel and travel industry for 2021. Hotel performance this year is still projected to be well below 2019 levels but we are seeing RevPAR beginning to improve. The smart people in the room say 2021 revenue will end the year at 65%-70%+/- of 2019 levels....
Chris Martin Joins Avison Young Hospitality Group
Avison Young | February 23, 2021
ATLANTA – February 23, 2021 – Avison Young Hospitality Group announces that Chris Martin has joined the firm in its Tampa office. Keith Thompson said, “Chris Martin has joined our team from another brokerage firm, and we could not be more pleased. He comes to us with a deep hospitality background and a well-respected reputation in the hotel industry.” Chris J. Martin is an Investment Hotel Broker with Avison Young’s Hospitality Division. During his career, Chris has underwritten and modeled almost $4 Billion worth of hotel properties across the United States, providing him with an accurate forecasting and valuation mindset tha...
Wendy Blissett Promoted to Principal of Avison Young’s Hospitality Group
Avison Young | February 23, 2021
ATLANTA – February 23, 2021 – H. Keith Thompson, Principal of Avison Young’s Hospitality Group, announced today that Wendy Blissett has been promoted to the title of Principal. “I have worked with Wendy for the better part of 26 years and she is an incredible asset to the firm. During the difficult 2020 pandemic year, she was still able to close on numerous separate hotel transactions which was among the best brokerage performance in the hotel industry. She is incredibly smart and client focused and we could not be more happy to welcome her talents at the Principal level,” said Thompson. Blissett joined Avison Young in 2017 wh...
Fitch Maintains 14 US CMBS Single Borrower Hotel Transactions on Negative Watch Due to Pandemic
Fitch Ratings | February 22, 2021
Fitch Ratings - Chicago - 22 Feb 2021: Fitch Ratings has maintained 79 classes from 14 U.S. CMBS single borrower transactions on Rating Watch Negative (RWN). Fitch originally placed the classes on RWN on March 19, 2020. KEY RATING DRIVERS The 14 transactions represent the entire portfolio of Fitch-rated single borrower hotel transactions. The transactions were issued in 2019 (four) and 2018 (10). The majority are secured by an individual hotel property; the underlying properties are located in Florida (six deals), Hawaii (four), Arizona (two) and California (one). There is one transaction secured by a portfolio of La Quinta hotels. Three tr...
Hotel Lawyer: PACE Financing – Now an Accepted Tool for Hotel Lenders and Borrowers
Jim Butler | February 22, 2021
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors or www.HotelLawBlog.com Hotel finance lawyer: PACE Financing is now mainstream About five years ago, my partner David Sudeck, a senior member of JMBM’s Global Hospitality Group®, spoke at a hotel industry conference about the attractive features of PACE financing as an innovative financing technique. David has extensive experience with virtually all kinds of real estate financing from senior debt to joint ventures. At the time, he had just finished working on a hotel financing that included components of a senior construction loan from a private lender, Mello ...
Hard Rock Partners With Hakeem Investments to Develop REVERB by Hard Rock in Tampa
REVERB by Hard Rock | February 22, 2021
HOLLYWOOD, Fla. - Feb. 22, 2021 - Hard Rock Hotels announced plans for development of a new addition to the REVERB by Hard Rock portfolio in Tampa, FL. The business casual hotel concept is designed to be an energetic cultural hub for connection, creation and inspiration among music fans, locals, and travelers alike. REVERB by Hard Rock Tampa East will embody the brand's modern, urban design package, will feature traveler-friendly integrated technology, smart rooms, shared spaces designed for collaboration, and offer programming highlighting local music, food and entertainment. REVERB Tampa East is currently in the design process, with ...
Accor Partners With Twenty14 Holdings to Open the Pullman Downtown Dubai
TWENTY14 HOLDINGS | February 22, 2021
DUBAI, United Arab Emirates - February 22, 2021 - Twenty14 Holdings, an Abu Dhabi-based hospitality company that owns assets throughout the globe has partnered with Accor, a world-leading augmented hospitality group, to open a new Pullman in one of the most sought-after locations in Dubai, Business Bay. “We are pleased to partner with Accor and be part of their strong footprint and network in the region,” said Adeeb Ahamed, Managing Director of Twenty14 Holdings. “Pullman is aligned with our expectations and vision as an asset owning company, and with Accor’s loyalty program and management expertise, we are confident that guests ...
Accor Signs With Craig Road Property Holdings to Develop First Mondrian Property in Singapore
Accor | February 19, 2021
NEW YORK -- Feb. 19, 2021 -- Accor, a world-leading hospitality group, today announced Singapore's first Mondrian hotel will be built in the heart of the city's prominent Duxton Hill neighborhood and is set to open in early 2023. The property is being developed by Craig Road Property Holdings. This news comes on the heels of Accor's recent announcement regarding its planned venture with Ennismore, which will see the creation of one of the world's largest and fastest growing lifestyle and entertainment operators set to include Mondrian hotels. Mondrian Singapore, a luxury lifestyle hotel comprised of 300 guestrooms and suites, a resta...
Accor to Sell a 1.5% Stake in Huazhu for €239M
Accor | February 19, 2021
Paris - February 19, 2021 - Accor announces that it completed the disposal of a 1.5% stake in Huazhu Group Limited (HTHT) for €239m. This transaction allows Accor to crystallize further value creation of the initial investment while simplifying its balance sheet. After this transaction, Accor owns a 3.3% stake in Huazhu and continues to be represented at the Group’s Board of Directors. Accor and Huazhu will continue to develop their successful partnership and growth dynamic initiated in January 2016. The master-franchise agreement has enabled the openings of 300 economy and midscale hotels in China, mainly under the ibis, Novotel and M...
Blockchain Technology Shaping the Future of Commercial Real Estate
February 18, 2021
Implications of blockchain technology in Real Estate In short, blockchain technology enables the user to record information on a digital ledger. It divides and stores the entered information in a compartmentalized array across several computer systems on a Blockchain network. Technically speaking, Blockchain technology utilizes Distributed Ledger Technology (DLT), where the stored information becomes impossible to hack, alter or erase. This technology makes information significantly more transparent and safer than conventional ledgers we have been using over centuries. Real estate transactions, a DLT platform allows storing information...
