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
Hyatt Signs With Alliance City for Development of Hyatt Centric Boulevard Batumi
Hyatt Centric | January 25, 2021
ZURICH (January 25, 2021) - Hyatt announced today that a Hyatt affiliate has entered into a management agreement with Alliance City LLC for the development of Hyatt Centric Boulevard Batumi. Expected to open in 2025, the hotel will offer 180 guestrooms including 14 suites, a restaurant and lobby bar, fitness and spa facilities as well as 5,920 square feet (550 square meters) of event space. Hyatt Centric Boulevard Batumi is expected to mark the introduction of the Hyatt Centric brand to The Republic of Georgia and the ninth Hyatt Centric hotel in Europe. Set to be located at the start of Rustaveli Avenue, Batumi’s main street, Hyatt ...
Former Kimpton Hotel Allegro Rebrands as The Allegro Royal Sonesta Hotel Chicago
Sonesta International Hotels Corporation | January 22, 2021
CHICAGO (January 22, 2020) - The Allegro Royal Sonesta Hotel is proud to join the Sonesta International Hotels Corporation U.S. portfolio, becoming the third Chicago property and expanding the brand’s national footprint in key tourism regions. The announcement comes as a result of major branding and management changes from Service Properties Trust (SVC), which includes the transfer of 102 InterContinental Hotels Group (IHG) properties to Sonesta. The Allegro Royal Sonesta Hotel is located in the renowned Loop cultural district, the Chicago hotel boasts enchanting public spaces that transport you back in time, and 483 stunning guest rooms...
Marriott International Signs Agreement With Mario Julen to Bring The Ritz-Carlton Brand to the Swiss Alps
Marriott International, Inc. | January 21, 2021
ZERMATT, SWITZERLAND - January 21, 2021 — Marriott International today announced it has signed an agreement with Mario Julen to bring The Ritz-Carlton brand to Zermatt, debuting the first Ritz-Carlton ski resort in Europe. Expected to open in 2026, the 69-guest room property will bring the brand’s legendary service and elegant design to the world-famous Swiss resort destination. Once open, the property will serve as the second Ritz-Carlton hotel in Switzerland, joining The Ritz-Carlton Hotel de la Paix, Geneva. “We are thrilled to announce this milestone signing with Mario Julen who has a fantastic vision for the project,” said Sat...
Innovatus Capital Partners Teams With Pure Wellness to Create Pure Offices
Pure Wellness | January 20, 2021
DALLAS, January 20, 2021 -- Pure Wellness, a pioneer and leader in hotel guest room wellness solutions, and Innovatus Capital Partners, LLC (“Innovatus”) a boutique specialty finance firm with over $1.5 billion assets under management, focused on creating value in special situations, emergent asset classes and asset-based investments, including a diversified portfolio of U.S. commercial office properties located in emergent top-tier markets, have partnered to bring the popular Pure Room concept to the office environment – creating the Pure Office. “The Pure Office concept is an effective way for commercial building owners and manag...
Hard Rock Partners With Dora Hotel Company and The Cribbage Group for London, Ontario Hotel
Hard Rock Hotels | January 18, 2021
LONDON, ON, Jan. 18, 2021 — Hard Rock Hotels today announced plans to locate a new property in London, Ontario, as the iconic global brand continues to expand its reach with another world-class hotel and entertainment venue in North America. Working in tandem with managing partners at Dora Hotel Company and The Cribbage Group, Hard Rock will transform the historic site of the former Kellogg’s Canada Factory into a unique location that brings the brand’s world-renowned music and entertainment offerings to the region. Hard Rock Hotel London, Ontario will greatly complement existing tourist activities in the region and create a wide ...
IHG Signs Agreement With Saleh Alsalamah and Partner Companies for Holiday Inn Jeddah Corniche
IHG | January 18, 2021
IHG® Hotels & Resorts, one of the world’s leading hotel companies, has signed a Management Agreement with Saleh Alsalamah and Partner Companies, to open Holiday Inn Jeddah Corniche. Having signed Holiday Inn Riyadh Al Malaz last year with the same partner, this latest development is part of IHG’s dedicated efforts to increase its midscale portfolio in the region. Once completed, Holiday Inn Jeddah Corniche will be IHG’s third Holiday Inn hotel in Jeddah, joining Holiday Inn Jeddah Gateway and Holiday Inn Jeddah – Al Salam. Expected to open in January 2022, the 156-room property will be strategically located behind the corniche...
Centara Signs Three New Resorts in Laos and Thailand
Centara | January 18, 2021
Bangkok, Thailand – 18 January 2021 — Centara Hotels & Resorts, Thailand’s leading hotel operator, expands its footprint in Southeast Asia, following the signing of Hotel Management Agreements (HMAs) for one resort in Khao Yai, Thailand, and two resorts in Vang Vieng, Laos, adding 304 keys to Centara’s group portfolio. In Laos, Centra by Centara Riverside Resort Vang Vieng (formerly Thavisouk Island Hotel) and Thavisouk Riverside Resort & Spa Vang Vieng, Centara Boutique Collection (formerly Thavisouk Riverside Hotel) are located on the opposite sides of the Nam Song River, connected by a private bridge linking the two ...
Rosewood Partners With Antirion SGR for 2023 Opening of Rosewood Rome
Rosewood Hotels & Resorts | January 13, 2021
HONG KONG, Jan. 13, 2021 -- Rosewood Hotels & Resorts®, a global leader in luxury travel and lifestyle experiences, has been appointed by real estate firm Antirion SGR to manage Rosewood Rome, which will open in 2023 in the heart of the capital city. Located in the former headquarters of Italy's Banca Nazionale del Lavoro (BNL) overlooking the iconic Via Veneto, the new hotel will offer premier access to many of the city's storied attractions, elegant shops and distinct dining destinations. Extending an entire block, Rosewood Rome will encompass three historic buildings, each of which were originally built in the early 1900s. T...
Sonnenblick-Eichner Company Arranges $30,500,000 of First Mortgage Financing for Little Palm Island Resort & Spa, Florida Keys, Florida
Sonnenblick-Eichner Company | January 12, 2021
Beverly Hills, California – – Sonnenblick-Eichner Company announced today that it has arranged $30,500,000 of interim first mortgage financing for Little Palm Island Resort & Spa, an iconic 30-suite, full service, luxury resort located in Little Torch Key, Florida. The loan refinanced a recently matured fixed rate loan and closed within 30 days of application. Mast Capital and RWN Management provided the financing. The Resort is located on an exclusive 4.12-acre private island in the world famous Florida Keys. Accessibility to the Resort is by private boat from Little Torch Key, located approximately 3 miles to the north. Am...
Turnbull Capital Group and Dr. Donald W. Wise Present a World Class Team of Professionals to Discuss: Where Are Hotel Asset Values Today?
Turnbull Capital Group | January 12, 2021
Dr. Donald W. Wise, Co-founder and Senior Managing Director of Newport Beach-based Turnbull Capital Group, and Gretta Brooks, Founder & CEO of Plano-based SalesBoost, LLC, are pleased to announce their fourth Webinar in a series on the discovery of hotel and resort values today. This Webinar is moderated by Dr. Donald W. Wise, Founder of CBRE Hotels in the 1984 and Founder of the lodging and hospitality lending group at Walker & Dunlop in 2007. The Webinar is Wednesday January 13th at 9:00 AM PST - 12:00 PM EST ~ we have added Ms. Tanya Pierson, MAI, Senior Managing Director, HVS and 35-year friend Mr. William H Reynolds Jr.,...
IHG Signs With Lina Snacks Foods Company to Open Holiday Inn Riyadh The Business District
IHG | January 11, 2021
IHG® Hotels & Resorts, one of the world’s leading hotel companies, has signed a Management Agreement with Lina Snacks Foods Company, to open Holiday Inn Riyadh The Business District. Building on IHG’s recent signings in KSA, including voco Jeddah North, this latest development supports IHG’s growth ambition in Saudi Arabia and builds on the strong signing momentum in the region. Expected to open in January 2022, the 138-room property will be strategically located close to King Khalid International Airport and the Riyadh Front, the new leisure destination of Riyadh developed in line with Vision 2030, making it an ideal choice f...
IHG Signs With Minh Dong Travel Service and Trading Company Limited to Develop Crowne Plaza in Danang, Vietnam
IHG | January 11, 2021
InterContinental Hotels Group (IHG®) has signed a management agreement with Minh Dong Travel Service and Trading Company Limited – a member of PGT Group – to open the second Crowne Plaza in Danang. The 300-room Crowne Plaza Danang Waterfront will welcome guests in 2023. With unobstructed views of the ocean, the 38-storey hotel will be highly sought-after by business and leisure travellers seeking a single destination for work, meetings and relaxation. Ideally located next to the beachfront on the city’s main thoroughfare Vo Nguyen Giap street, and only a five-minute drive to central Danang, it will perfectly complement the existi...
Spirides Provides $13.5 Million Hotel Construction Loan for New Comfort Suites in Lake Buena Vista-Orlando, FL
Spirides Hospitality Finance Company | January 11, 2021
TAMPA, FL—Spirides Hospitality Finance Company has successfully provided and the borrower has officially closed a $13.5 million construction and permanent mortgage loan made by a Southeast U.S. headquartered bank to finance the development of a new Comfort Suites in Lake Buena Vista, Orlando, Florida. This new 127-suite, 5-story Comfort Suites will be built on 2.5 acres of land located at 11942 Ravello Resort Drive. Located in Lake Buena Vista and just off of Interstate 4, the site is a short drive from the entrance to Walt Disney World’s Disney Springs shopping, dining, and entertainment complex near the City of Orlando, in Orange C...
Pacific Reach Properties Rebrands Former Westin Grand Hotel to Hilton Vancouver Downtown
Pacific Reach Properties | January 7, 2021
VANCOUVER, British Columbia - January 6, 2021 - Today, Pacific Reach Properties announces the rebranding of the former Westin Grand Hotel to Hilton Vancouver Downtown. Owned and operated by Pacific Reach Properties, the first Hilton Hotels & Resorts property in downtown Vancouver will leverage Hilton’s brand equity to drive awareness in the marketplace, increase marketing efficiency across the global portfolio and offer the more than 110 million Hilton Honors members a new option for accommodations. “Since opening in 1999, the hotel has garnered many accolades and with over 20 years of operational excellence, our dedicated staff...
IHG Signs With Conygar to Bring Hotel Indigo and Staybridge Suites to Nottingham’s Island Quarter
IHG | January 7, 2021
IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, has committed to bring two of its world-renowned brands to Nottingham (UK) after signing a management agreement with Conygar, the developer behind The Island Quarter development. IHG will be bringing its upscale boutique hotel brand Hotel Indigo as well as its extended stay offering, Staybridge Suites to the city as part of the multi-million-pound scheme that will transform this gateway area of Nottingham. The 17-storey hotel will comprise 223-bedrooms and suites – 155 located within Hotel Indigo and a further 68 aimed at multi-night business and l...
Marriott International Signs Milestone Branded Residential/Officetel Project in Vietnam
Marriott International | January 7, 2021
JANUARY 7, 2021 - Marriott International, Inc. today announced a milestone agreement with Vietnam-based real estate firm Masterise Homes to develop a dual-branded residential and officetel project in Ho Chi Minh City. According to the Savills International Development Consultancy, the agreement marks the largest hotel-branded residential project announced to date worldwide, with close to 4,200 residential and officetel units. The project is anticipated to include branded units from two Marriott International brands – JW Marriott and Marriott Hotels. Expected to open in late 2024, the project will play a key part of an integrated mixed-use ...
2021 Hotel Financing Predictions
Brian Holstein | January 7, 2021
By Brian Holstein Positive Big Picture It is obvious that hotel operating performance will be much better in 2021 than 2020. It is, perhaps, less obvious that hotel lending has already begun staging a comeback that will accelerate throughout the year while continuing to stay ahead of actual hotel performance. Hotel CMBS Lending Rebounds Prior to Hotel Performance Leverage for hotel CMBS loans is currently available in the 55% +/- LTV range as lenders are beginning to close hospitality loans prior to the full return of cash flow. They are using the same forward-looking underwriting tactics that were prevalent in The Great Recession...
Silicon Valley’s Grand Hotel Sunnyvale Announces $25 Million Dollar Addition
January 6, 2021
60,000 Sq. Ft. Annex Features 51 New Rooms, 2 Meeting Spaces & More, Opening June 2021 SUNNYVALE, Calif., Jan. 6, 2021 -- The Grand Hotel Sunnyvale, Silicon Valley's #1 boutique hotel on TripAdvisor, announces its upcoming $25 million dollar annex will be completed June 1, 2021. A 60,000 sq. ft. addition will span 4 floors with 51 new rooms, two state-of-the-art meeting spaces, and a new gym. In total, the hotel will offer 155 rooms and private villas, three indoor meeting spaces that can accommodate up to 80, an outdoor events space for up to 150, outdoor heated pool, and more for business and leisure travelers to Silicon Valley....
Hilton Signs With Societe Marhaba Beach to Open Hilton Skanes Monastir Beach Resort
Hilton Hotels & Resorts | December 22, 2020
MONASTIR, Tunisia - Hilton (NYSE: HLT) recently announced an agreement with Societe Marhaba Beach to open Hilton Skanes Monastir Beach Resort. The upper upscale Hilton Hotels & Resorts property will offer incredible beach-side vistas across the Gulf of Hammamet, as part of the new Palm Lake Monastir residential and commercial development and within close proximity to the historic towns of Monastir and Sousse. “As travellers plan their vacations and dream of new destinations to visit, we see great potential to expand our portfolio in resort locations across North Africa,” said Carlos Khneisser, vice president of development, Mid...
3D Development Partners With Midas Hospitality to Develop Element Hotel in Richardson, Texas
Midas Hospitality | December 22, 2020
(Richardson, Texas, Dec. 22, 2020) 3D Development—a real estate development company with offices in Georgia, Tennessee and Texas—is poised to begin the transformation of 5.2 acres into a mixed-use project. The new Richardson, Texas development will include a $22 million Element by Westin hotel located at 2205 North Glenville Ave. The hotel, which will be developed and managed by Midas Hospitality, is scheduled to open in the summer of 2021. The four-story hotel offers 123 spacious suites that include full-equipped kitchens and spa-inspired bathrooms. The Element concept encourages renewal through a nature-influenced environment and...
The St. Joe Company Announces Hotel Indigo® as Brand for Planned Hotel in Panama City’s Downtown Waterfront District
The St. Joe Company | December 16, 2020
PANAMA CITY BEACH, Fla.-- --The St. Joe Company (NYSE: JOE) (“St. Joe”) announces Hotel Indigo®, a stylish and vibrant boutique hotel, as the brand for its planned hotel in Panama City’s downtown waterfront district. St. Joe intends to build, own and operate the previously announced hotel on a portion of the Panama City Marina property fronting St. Andrews Bay. The City and St. Joe completed a lease agreement on the property earlier in the year. Hotel Indigo is a part of a family of hotel brands from IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies. Hotel Indigo properties are designed to be as in...
Choice Signs With VRL Hotels to Develop Two New Cambria Hotels in Gatlinburg and Pigeon Forge, Tennessee
Cambria Hotels | December 15, 2020
ROCKVILLE, Md., Dec. 15, 2020 -- Choice Hotels International, Inc. (NYSE: CHH) has awarded franchise agreements to Victor Patel of VRL Hotels to develop new Cambria Hotels in Gatlinburg and Pigeon Forge, Tennessee. These agreements further the upscale brand's traction in Tennessee, which includes the already open Cambria Hotel Nashville Downtown as well as soon-to-open Cambria Hotel Nashville Airport and a future property in Nashville's West End neighborhood. These proposed hotels will join other Cambria locations in top vacation destinations like Anaheim, California; Madeira Beach, Florida; Charleston, South Carolina;...
IHG Celebrates Groundbreaking of Mexico’s second avid™ Hotel in Guadalajara
IHG | December 15, 2020
IHG® Hotels & Resorts, one of the world’s leading hotel companies, announced today that construction has started on the second avid hotel in Mexico. Expected to open in late 2021, the avid Guadalajara will be a 124-room hotel owned by Grupo Ferran. This groundbreaking builds upon the momentum and international expansion of the avid hotels brand – there are more than 200 new avid hotels under development worldwide, with Mexico’s first avid hotel opening in Fresnillo in June and the first avid hotel in Canada breaking ground in October. Grupo Ferran has a second avid hotel also under development in Guadalajara. The avid Guada...
IHG Partners With Tuyet Lien Son Co Ltd for voco Brand in Vietnam
IHG | December 15, 2020
IHG Hotels & Resorts will expand its upscale voco™ brand to Vietnam next year through an exciting partnership with Tuyet Lien Son Co Ltd, which will mark the first opening under the voco brand in South East Asia. Already near completion, the stunning voco Ma Belle Danang property is ideally located next to the beachfront along the main thoroughfare of the coastal city. The 290-room hotel seamlessly combines the informality and charm of an individual property with the quality and reassurance of a globally renowned brand. It signals the latest development in the growth of voco, inspired by the Latin word for 'to invite' or 'come ...
