CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel
CBRE Group, Inc. | May 16th, 2024
Paramount Lodging Advisors Successfully Transacts Chicago Renaissance OHare Hotel
Paramount Lodging Advisors | November 7th, 2023
HRI Properties and Hyatt Celebrate Opening of Dual-Branded Hyatt Place and Hyatt House Indianapolis
Hyatt Place | April 2, 2019
INDIANAPOLIS – (April 2, 2019) – HRI Properties, LLC (HRIP) and Hyatt officially opened Hyatt Place and Hyatt House hotels in the Wholesale District of Indianapolis. Developed and constructed by HRI Properties, the dual-branded property represents a prominent landmark within central downtown and creates an experience that enables guests to enjoy both brands under one roof. "HRI Properties is excited to continue our relationship with Hyatt by introducing this dynamic new combined hotel offering to the great city of Indianapolis," said Tom Leonhard, president and chief executive officer for HRI Properties. "Hyatt Place Indiana...
Starwood Capital Group, Crescent Real Estate and High Street Plan Two Hotel Towers With 721 Rooms at Nashville Music City Center
Starwood Capital Group | April 2, 2019
MIAMI and FORT WORTH, Texas and ATLANTA, April 2, 2019 -- An affiliate of Starwood Capital Group, Crescent Real Estate LLC ("Crescent") and High Street Real Estate Partners announced today that they are developing 721 hotel rooms on a 1.3-acre parcel of land directly across from Nashville's Music City Center, a $625 million convention center. The hotel design includes a common podium with two hotel towers joined by a four-story lobby, conference area and public restaurant/retail space, including outdoor street-level public dining and a rooftop bar. Site work has already started on the project, with formal groundbreaking fo...
Interstate Selected by Cambridge Landmark to Operate 759-Room Philadelphia 201 Hotel in Downtown Philadelphia
Interstate Hotels & Resorts | April 2, 2019
ARLINGTON, Va., April 2, 2019 -- Interstate Hotels & Resorts, the leading global third-party hotel and resort management company, has been selected to continue the successful operation of the Philadelphia 201 Hotel, the second largest hotel in the city. Recently acquired by private equity company Cambridge Landmark, the transaction included a new franchise agreement with Marriott for the property to become a Sheraton upon completion of a $28 million renovation. The transformation is part of Sheraton's latest vision announced in June 2018, featuring the new Sheraton guestroom and public spaces that bring to life its signature foc...
Nam Nghi Phu Quoc Officially Opens, Joining The Unbound Collection by Hyatt
The Unbound Collection by Hyatt | April 2, 2019
CHICAGO (April 2, 2019) – Hyatt Hotels Corporation (NYSE: H) announced today the opening of Nam Nghi Phu Quoc as part of The Unbound Collection by Hyatt, marking the first branded property in Southeast Asia under The Unbound Collection by Hyatt. The 114-room resort is nestled within a secluded oasis surrounded by pristine beaches and the rich environment of Phu Quoc island in Vietnam. "We are pleased to introduce The Unbound Collection by Hyatt brand to Southeast Asia with Nam Nghi Phu Quoc a destination resort amidst awe-inspiring, natural surroundings," said David Udell, group president, Asia Pacific, Hyatt Hotels Corporation. &...
The Ritz-Carlton, South Beach Undergoing Hotel-Wide Transformation
The Ritz-Carlton, South Beach | April 2, 2019
MIAMI, Fl. – April 2, 2019 – A pillar of the Miami community over the past decade, The Ritz-Carlton, South Beach will soon re-open its doors and step into the role of gracious host to travelers visiting the most exotic place in America. The luxury hotel will open in late 2019 after a multi-year, property-wide renovation inclusive of guest rooms, suites, spa, Club Lounge, restaurants and bars, lobby, meetings and events spaces, and pool. A refined gateway to the vibrant culture and colorful history of Miami, the reimagination channels the alluring and tropical rhythm of the destination. Inspiration from the lush surroundings ...
Juniper Capital & IMH Financial Acquire The Time Nyack Hotel
IMH Financial Corporation | April 2, 2019
April 2, 2019 (Scottsdale, Ariz.) – An affiliate of Juniper Capital Partners and an affiliate of IMH Financial Corporation announced today the acquisition of The Time Nyack hotel in New York's Hudson Valley. The upscale, lifestyle hotel with loft-style accommodations is the only of its kind in Rockland County. Plans to enhance the entire hotel include a refreshed look at the property's culinary offerings and the debut of a new rooftop experience to showcase the amazing views of the Hudson River and newly reconstructed Governor Mario M. Cuomo Bridge. The 133-room Time Nyack, which first opened in May 2016, is both a dining destinat...
Hotel Equities and Virtua Partners Close on Fairfield Inn & Suites by Marriott in Colorado Springs
Virtua Partners | April 2, 2019
ATLANTA, GA – April 01, 2019 - Hotel Equities (HE), through its affiliate Virtua Partners, has purchased the Fairfield Inn & Suites Colorado Springs North/Air Force Academy. The hotel, located at 15275 Struthers Road in Colorado Springs, is the closest hotel to the U.S. Air Force Academy north entrance. Virtua Credit Corporation arranged the financing for the purchase. Hotel Equities operates the Marriott hotel and will continue to oversee the asset. The hotel owner, operator and development firm currently manages 30+ Fairfield Inn & Suites and over 120 hotels throughout the U.S. and Canada. HE and Virtua Partners joined f...
RAR Hospitality Breaks Ground on The Monsaraz, Tapestry Collection by Hilton in San Diego, California
RAR Hospitality | April 1, 2019
San Diego – April 1, 2019 – Southern California based RAR Hospitality, a full-spectrum hospitality management firm, has recently broken ground on the first Tapestry Collection by Hilton property in San Diego, The Monsaraz – set to open in summer 2020. Tapestry Collection by Hilton added 14 hotels to its portfolio of modern, stylish hotels in 2018 and has another 45 in its global pipeline (as of Q4 2018), including eight additional California properties. The development is a partnership with local development firm Alliance Development, who brings a wealth of knowledge to the team. "Welcoming The Monsaraz property to the...
SpringHill Suites by Marriott Opens in Greensboro, North Carolina With General Manager Tricia Southard at the Helm
SpringHill Suites by Marriott | April 1, 2019
Greensboro, NC – April 2, 2019 – Marriott International announced today that the SpringHill Suites by Marriott Greensboro Airport opened on Saturday, March 30, 2019. The 103-suite hotel, located at 505 Hickory Branch Road, will operate as a Marriott franchise, owned by Guilford Hotel, Inc. and managed by CN Hotels Inc. of Greensboro, NC. General Manager Tricia Southard and Director of Sales Judy Thomas lead the management team at the property for CN Hotels. Just six miles from Piedmont Triad International Airport and 15 minutes from downtown. The hotel offers guests convenient access to Wet n' Wild Emerald Pointe, the Greens...
AVR Realty Affiliate Acquires AC Hotel San Jose for $95.4 Million
March 31, 2019
April 01-- Apr. 1--SAN JOSE -- An affiliate of AVR Realty, based in Yonkers, a city about 11 miles from Manhattan, has bought the AC Hotel San Jose, which is a Marriott brand with a European flair that caters to millennial customers. "This is a very strong hotel market in downtown San Jose that AVR Realty is buying into," said Alan Reay, president of Irvine-based Atlas Hospitality Group, which tracks the lodging market in California. "Downtown San Jose is a market where demand exceeds supply." AVR San Jose Downtown Hotel, the AVR affiliate, paid $95.4 million last week to buy the hotel, according to Santa Clara Count...
Twin River Completes Dover Downs Acquisition and NYSE Listing
Twin River | March 29, 2019
LINCOLN, R.I., March 29, 2019 -- Twin River Worldwide Holdings (NYSE: TRWH) announced today that it completed its acquisition of Dover Downs Gaming & Entertainment and listing on the New York Stock Exchange. Twin River Executive Chairman John E. Taylor, Jr. said, "Our management team has done a great job diversifying our revenue base and creating sustainable growth. The Dover Downs acquisition and New York Stock Exchange listing mark the beginning of a new chapter for us by adding to our geographic base, providing us currency for strategic steps and eventually leading to liquidity for stockholders." George Papanier, Twin R...
Park Hotels & Resorts Inc. Completes Sale of the Hilton Nuremberg for $17.5 Million
Park Hotels & Resorts | March 28, 2019
TYSONS, Va.--March 28, 2019 --Park Hotels & Resorts Inc. ("Park") (NYSE:PK) today announced that it has closed on the sale of the 152-room Hilton Nuremberg hotel (the "Hotel") located in Nuremberg, Germany for gross proceeds of $17.5 million, or $115,000 per key. When adjusted for Park's anticipated capital expenditures ("capex") of $10.1 million for the Hotel, the sale price represents a 3.5% capitalization rate on the Hotel's 2018 net operating income (5.6% excluding capex), or 21.2x (13.4x excluding capex) the Hotel's 2018 EBITDA. Proceeds from the sale will be used for general business purposes, which may include funding future ...
GF Management Completes $9 Million Room Renovation of Hilton Garden Inn Philadelphia Center City
Hilton Garden Inn | March 28, 2019
PHILADELPHIA, March 28, 2019 (GLOBE NEWSWIRE) -- Hilton Garden Inn Philadelphia Center City will complete a full guest room renovation on April 1, 2019. As a result, the Hilton Garden Inn is now one of the most modern and relaxing places to rest in the heart of Center City Philadelphia. Hilton Garden Inn Philadelphia Center City spared no expense during their $9 million renovation. The renovations included a complete overhaul and redesign of 279 guest rooms, featuring 109 junior suites and 4 deluxe and presidential suites. Guests will sleep comfortably on Serta Perfect Sleeper® mattresses and can work comfortably in ergonomic Mirra&...
Sycuan’s $260M Hotel and Resort Expansion Opens to the Public
Sycuan Casino Resort | March 27, 2019
SAN DIEGO, March 27, 2019 -- Sycuan Casino Resort announced today that the organization's $260M hotel and resort expansion is now open to the public. "Just two years ago, we broke ground and committed to becoming the premier gaming destination in San Diego County and today we delivered on that promise," said Cody J. Martinez, chairman, Sycuan Band of the Kumeyaay Nation. "This project would not have been possible without the support and vision of the Sycuan people, our team members and the incredible construction effort by Swinerton Builders. This is a historic and momentous day for Sycuan and we are extremely proud t...
Tribute Portfolio Debuts in Fort Lauderdale with Opening of The Dalmar
The Dalmar | March 27, 2019
Tribute Portfolio, Marriott International's newest collection brand known to bring together characterful hotels with vibrant social scenes, today announced the opening of The Dalmar. Conceptualized by the DoveHill team, the 25-story hotel features 209 guestrooms including 33 suites designed by DesignAgency, with inspiration stemming from the vibrant personality of South Florida, blended with a distinctive mid-century vibe. The Dalmar offers guests a relaxed and tropical environment with public areas that express a fresh and playful character through their layering of textures and finishes, vibrant jewel tone colors and dynamic contempor...
How France’s Hotels Are Rethinking Style and Space
JLL Real Views | March 26, 2019
Design has long been important to the hotel industry as a way to attract new guests and turn them into repeat visitors. In recent years, however, new brands to the market have raised the design standards to stand out from the crowd and win over a new generation of traveller looking for unique experiences. Faced with these new norms and higher guest expectations, long-standing establishments and big chains across France are rethinking how they use their space, as well as the look and feel of the hotel itself. "The idea is to break with established design codes, to deconstruct old styles and reconstruct them in a modern way to create vibr...
Sam Moon Group Celebrates Topping Out of the Hyatt Regency Stonebriar
Sam Moon Group | March 26, 2019
FRISCO, TX - March 26, 2019 - The Hyatt Regency Stonebriar is topping out its 18-story, 303-room hotel. A lunch will be held on April 12 as a celebration of reaching the construction half-way point for those working on the project. Members of the construction crew, architecture and design teams, City of Frisco, and other involved groups are expected to attend the ceremony. A tree will be hoisted on top of the hotel structure by a tower crane signaling the completion of the skeleton of the building. Sam Moon Group is the hotel developer; Brasfield & Gorrie is the contractor; HKS, Inc. is the architect and Looney & Associates is m...
Grupo Therrestra Developing 957-Room Ocean Coral Spring by H10 Hotels in Jamaica
March 26, 2019
SANTO DOMINGO, Dominican Republic, March 26, 2019 -- Grupo Therrestra, under the leadership of Engineer Hugo Pérez Ovalles, continues to intensify its presence throughout the entire Caribbean region with the execution of the new project "Ocean Coral Spring by H10 Hotels". This project represents a new sign of success for the group which specializes in Design, Construction and Supervision, recognized in the region for executing tourism projects of the most demanding and high end hotel chains in the world with quality and within a short period of time. For the New Ocean Coral Spring, Therrestra will employ values that cha...
IHG Signs With Barnes Capital to Develop 160-Room Holiday Inn & Suites Dandenong in Australia
March 26, 2019
Martyn Barnes has signed his third IHG®-branded hotel, bringing Holiday Inn & Suites to Dandenong, the so-called 'capital' of Melbourne's south-east. Headlining a mixed-use development that includes two levels of office space, the 160-room, design-led Holiday Inn & Suites Dandenong will rise to 11 levels when it opens in 2021, affording great views of the city. It will offer guests an all-day dining and bar experience, a gym, conference and meeting facilities, and retail shopping via separate access. It will also feature a long stay suite component targeting the corporate traveller who is looking to stay for extended periods...
Hyatt Plans Three Hyatt Centric Hotels in Memphis and Nashville, Tennessee and Austin, Texas
Hyatt Centric | March 26, 2019
CHICAGO (March 26, 2019) – Hyatt Hotels Corporation (NYSE: H) announced today strong U.S. growth for its Hyatt Centric brand portfolio, including development plans to build Hyatt Centric hotels in downtown Memphis, Tenn., downtown Nashville, Tenn., and downtown Austin, Texas. Designed for a growing segment of savvy explorers seeking shareable moments to inspire others, the Hyatt Centric brand currently has 26 properties across 11 countries, including Chile, France, India, Japan, Spain and more. "We couldn't be more pleased to see the Hyatt Centric brand grow and offer millennial-minded guests an opportunity to explore dynamic dome...
Operated by Atlific Hotels, Residence Inn by Marriott Opens in the Calgary Downtown/Beltline District
Residence Inn by Marriott | March 26, 2019
Marriott International, Inc. has announced the highly anticipated opening of Residence Inn Calgary Downtown/Beltline District, the largest property in the brand's global portfolio. The Residence Inn Calgary marks the 800th hotel for the brand. With properties located in the United States, Canada, Europe, the Middle East and Central America, Residence Inn is the global leader in the longer-stays lodging segment. Located in one of the city's most dynamic neighbourhoods, the Residence Inn Calgary Downtown/Beltline District was thoughtfully-designed to capture the unconventional charm of the city. Standing 33 stories high, the property feat...
Range Developments Enters Agreement With Government of Grenada for Development of Six Senses La Sagesse in St. David’s
Six Senses | March 26, 2019
ST GEORGE'S, Grenada, March 26, 2019 -- Range Developments has entered into an agreement with the Government of Grenada to develop the La Sagesse area in St David's. This is an unspoilt area of remarkable natural beauty with two beautiful beaches. The first of the luxury hotels will be the Six Senses La Sagesse, set on a promontory boasting two beaches and a lake, one of which has been described by The Sunday Times as 'one of the top ten beaches in the Caribbean'. La Sagesse will be an incomparable master-planned development on one of the best locations in the Caribbean, just 15 minutes' drive from Grenada's airp...
Hilton University of Houston Receives $30.4 Million Bond for Renovation and Expansion of Teaching Hotel
March 25, 2019
HOUSTON – March 25, 2019 – A $30.4 million project to expand and renovate the Hilton University of Houston, the teaching hotel for students at UH's Conrad N. Hilton College of Hotel and Restaurant Management, has been approved by the University of Houston System Board of Regents. The project is financed through a revenue bond issued by the UH System, which will be repaid with additional revenue generated by the hotel. Preliminary design plans include the addition of a five-story tower consisting of 71 guest rooms above the south wing, increasing the hotel's total number of rooms to 151. Six suites on the second floor will be...
Helix Hospitality Acquires Hampton Inn by Hilton - Wausau, Wisconsin
Helix Hospitality | March 25, 2019
March 25, 2019 (CHICAGO, IL) - Helix Hospitality, a Chicago based hotel group with properties throughout the United States, is pleased to announce the acquisition of the Hampton Inn by Hilton located in Wausau, Wisconsin. Located at 615 S. 24th Avenue, Wausau, Wisconsin, the 87-room Hampton Inn was built in 1997 and underwent a complete renovation in 2017. This property marks the ninth in the Helix Hospitality portfolio and the third in Wisconsin, which includes the Hampton Inn Milwaukee-Airport, and the Country Inn & Suites by Radisson, Little Chute. "The Hampton Inn - Wausau represents the addition of another high-quality ass...
