Colebrook Financial Announces Receivable Loan to Latitude Vacation Club
Colebrook Financial Company | May 20, 2021
Hilton Signs With Shimao Group Holdings to Launch Four Luxury Hotels in China
Hilton | April 30, 2021
Finance & Development
IHG Bringing Hotel Indigo to The Big East
IHG Hotels & Resorts | June 11, 2021
IHG Hotels & Resorts, one of the world's leading hotel companies, announced today that construction is well underway on the new Hotel Indigo New Orleans – French Quarter. Hotel Indigo New Orleans – French Quarter will be one of the newest Hotel Indigo properties, following the recent opening of exciting hotels such as the Hotel Indigo Columbus at Riverfront Place and the Hotel Indigo Miami Brickell. The Hotel Indigo brand continues to grow with a global pipeline of 104 new properties and 127 hotels now open. In the Americas, 29 new hotels are in the brand's pipeline, with construction progressing on multiple new ...
Pebblebrook Hotel Trust Completes Sale of The Roger New York
Pebblebrook Hotel Trust | June 11, 2021
BETHESDA, Md. - June 11, 2021 - Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) announced that on June 10, 2021, it closed on the sale of its leasehold interest in the 194-room The Roger New York in New York, NY for $19.0 million to a third party. The Roger New York is subject to a ground lease with approximately 23 years remaining on its term. Proceeds from the sale of The Roger New York will be utilized for general business purposes, which may include reducing the Company’s outstanding debt and/or acquiring and investing in hotel properties in accordance with the Company’s investment strategy. View the full relea...
Curator Hotel & Resort Collection Adds First Member Hotels in Hawaii
Curator Hotel & Resort Collection | June 10, 2021
BETHESDA, MARYLAND - June 10, 2021 - Curator Hotel & Resort Collection is thrilled to welcome its first-ever Hawaii member hotels hailing from the prestigious Springboard Hospitality collection, one of Curator’s founding members. The four new member hotels span three destinations (Honolulu, Kapa’a, and Lihue) on two islands (Kauai and Oahu), providing personalized and authentic local experiences. These independent hotels offer ideal destinations as travelers seek to book long-awaited island getaways. "This is a critical moment for Springboard as we seek independent, unique hotels to meet the significant interest in travel to Haw...
BLLA’s Boutique Hotel Investment Conference Concludes With Highest Reviews Showing the Upward Trending Results for Future
the Boutique & Lifestyle Leaders Association (BLLA) | June 9, 2021
The Boutique Lifestyle is clearly an opportunity to participate in some of the most ingenious projects post-Covid, globally June 9, 2021, Los Angeles - The Boutique Hotel Investment Conference 2021, powered by BLLA, was deemed an astounding success by not only attendees, judging by the dozens of testimonials coming in, but also the association’s leadership as well as their program planning committee. The nearly 100 speakers lead participants through the twists and turns of buying, investing, and operating today’s most popular and promising boutique hospitality sector. The opportunities presented through presentations, discussions, deba...
Pebblebrook Hotel Trust Announces Update on Recent Operating Trends and Contract to Sell The Roger New York
Pebblebrook Hotel Trust | June 9, 2021
BETHESDA, Md.--June 9, 2021-- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced an update on recent operating trends, including: Operating Trends: Overall operating trends continue to improve each week, and the Company expects to achieve positive Adjusted EBITDAre in the second quarter of 2021; Strong leisure demand; Business transient demand improving: Leisure demand continues to show robust growth. Business transient travel is in the early stages of its recovery, and the Company is encouraged with improved group activity and booking trends; Balance Sheet: The Company currently estimates its liquid...
Accor Transforms Its Accounting System for Hotels in Middle East with Infor SaaS Solution
Infor | June 8, 2021
Leading hotel group digitally transforms its financial management with Infor SunSystems on AWS, positioning the group for regional hospitality rebound DUBAI, UAE – June 8, 2021 – Infor, the industry cloud company, today announced that Accor IMEA, an augmented hospitality leader with more than 400 hotels in India, Middle East, Africa and Turkey, is transforming its accounting systems with Infor SunSystems, a powerful financial management solution, on AWS. The transformation will position the group to benefit from an anticipated rebound in the region’s hospitality sector as the impact of the COVID-19 pandemic abates and the region ...
Four Seasons Hotels and Resorts, Tokyo Tatemono and HPL Announce Plans for Brand New Hotel in Osaka, Japan
Four Seasons Hotels and Resorts | June 8, 2021
TORONTO - June 8, 2021 - International luxury hospitality leader Four Seasons Hotels and Resorts, Tokyo Tatemono Co., Ltd, a developer of condominiums and office buildings, and Hotel Properties Limited (HPL), a Singapore-based real estate company, have announced plans for the One Dojima Project in Osaka, Japan, which will include a brand-new Four Seasons hotel. The One Dojima Project, which began construction on August 1, 2020, is a large-scale redevelopment project in the Kinki region of Osaka. The building will be approximately 195 metres high (49 stories) with a total floor area of approximately 85,000 square metres, making it one...
Lore Group Set for Fall Debut of One Hundred Shoreditch in London
| June 7, 2021
This Autumn, One Hundred Shoreditch, a new independent hotel from Lore Group, will open in one of London’s most vibrant and creative areas. From the company behind Sea Containers London, Pulitzer Amsterdam, Riggs Washington DC and newly opened Lyle Washington DC; One Hundred Shoreditch sits within the building once home to Ace Hotel London Shoreditch. David Taylor, Lore Group’s Chief Operating Officer, having previously opened the original Hoxton in 2006 said: “The opening of our new hotel in Shoreditch reflects the growth and evolution that have taken place over the last 15 years in the area. We will offer something for everyon...
Wyndham Hotels & Resorts Debuts Registry Collection Hotels With Grand Residences Riviera Cancun
Grand Residences Riviera Cancun | June 2, 2021
PARSIPPANY, N.J. – June 2, 2021 – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with over 8,900 hotels across nearly 95 countries, today unveiled its 21st brand, Registry Collection HotelsSM, adding a luxury offering to the upper end of the Company’s growing brand portfolio while further advancing its mission to make hotel travel possible for all. The launch of Registry Collection Hotels comes at a time when a growing number of independent luxury hotel owners are seeking out proven and established partners to help them recover from the challenges of the global pandemic. Registry Collection Hotels a...
IHG and HPL Bringing voco Hotels Brand to South East Asia on Singapore’s World-Famous Orchard Road
IHG Hotels & Resorts | June 2, 2021
IHG Hotels & Resorts and long-term partner Hotel Properties Limited (HPL) are proud to announce the first voco™ hotel to open in South East Asia on Singapore’s world-famous Orchard Road. The premium brand was launched in 2018 and quickly reached the milestone of 50 signed and opened hotels in more than 20 countries – marking IHG’s fastest-ever global expansion. Now voco Orchard Singapore is heading to the heart of the nation’s famous main shopping and entertainment district and a bustling centre of leisure and business. Serena Lim, Vice President, Development, South East Asia and Korea, IHG said: “W...
Avison Young May 2021 Transactions
Avison Young | June 2, 2021
ATLANTA – June 2, 2021 – Avison Young Hospitality Group announced that the firm closed 10 hotel transactions for the month of May. The transactions covered many geographical areas and covered many hotel brands. Sellers represented large cap companies, lenders, banks and CMBS special servicers. The last deal of the month to close was a 400-room full-service Marriott in the northeast US led by Michael Bernath and Brad Sinclair. Keith Thompson said, “The closings for May were widespread and leaned toward the upper tier brands in commercial areas. It was good to see corporate hotels transacting at a more brisk pace than over the last 15...
Hotel Okura Kyoto Okazaki Bettei to Open in January 2022
Hotel Okura Co., Ltd. | June 1, 2021
TOKYO--(June 1, 2021)--Hotel Okura Co., Ltd. is pleased to announce that in January 2022 it will open the Hotel Okura Kyoto Okazaki Bettei in the world-famous and much-loved city of Kyoto, Japan’s ancient capital. The company has contracted with Mitsubishi Estate Co., Ltd. to manage the new property. The new hotel will offer 60 guest rooms ranging from 40 square meters in size, including eight 80-square meter suite rooms in the theme of a mountain villa. It will be located near the historic Okazaki Betsuin Temple, overlooking the rich natural environment of the temple grounds, with the suites and some other rooms offering guest...
At Q121 the Asia Pacific Construction Pipeline, Excluding China, Stands at 1,759 Projects/371,856 Rooms
Lodging Econometrics (LE) | June 1, 2021
June 1, 2021 – PORTSMOUTH, NH According to analysts at Lodging Econometrics (LE), the aAsia Pacific region construction pipeline, excluding China, ended the first quarter of 2021 at 1,759 projects/371,856 rooms, down 8% by both projects and rooms year-over-year (YOY). Throughout the region, countries are working to roll out vaccines as they continue the battle against COVID-19. As of May 23, the Maldives lead the region’s vaccine race with 29.24% of adult residents fully vaccinated. Singapore and Mongolia follow the Maldives, with just over 27% of each population reported as fully vaccinated. As more countries throughout the region...
Sandals® Resorts International Unveils Plans for Three New Resorts in Jamaica
Beaches® Resorts | May 27, 2021
MONTEGO BAY, Jamaica, May 27, 2021 -- Sandals Resorts International (SRI), the Caribbean's leading Luxury Included® Resort company, celebrated its legacy in Jamaica and affirmed its unshakable commitment to the country at a special groundbreaking ceremony today attended by dignitaries including the Prime Minister of Jamaica, The Most Hon. Andrew Holness. The event celebrated the first phase of an ambitious $230 million (USD) project, that will include Sandals Dunn's River followed by Phase II of transforming the adjacent oceanfront land into Sandals Royal Dunn's River, a commitment to the organization's wider expansion plans in its home coun...
Pyramid Hotel Group Breaks Ground on Cambria Hotel in Columbia, South Carolina
Cambria Hotels® | May 27, 2021
ROCKVILLE, Md., May 27, 2021 -- Cambria Hotels, an upscale brand franchised by Choice Hotels International, Inc. (NYSE: CHH), continues to rapidly expand around the country with the official start of construction on a Cambria hotel in Columbia, South Carolina. The four-story, 144-room upscale hotel is expected to open in Spring 2022, joining six other properties around the state in Charleston, Fort Mill, Greenville, Mount Pleasant, Rock Hill and Summerville. Situated at 1000 Lady Street, the Cambria Hotel Columbia Downtown is in the heart of the Vista, Columbia's premier arts and entertainment district, which features museums, local shops...
Four Seasons Hotel and Private Residences Nashville Reaches Topping Out Milestone
Congress Group | May 27, 2021
NASHVILLE, TN (May 27, 2021) - Development partners Congress Group Inc. and AECOM Capital today announced Four Seasons Hotel and Private Residences Nashville has topped out construction at its 40th story. At more than 540 feet tall, it is one of the tallest buildings in the state of Tennessee. With its position on 1st Avenue, by the Cumberland River and in the heart of downtown, the skyscraper permanently reshapes the Nashville skyline, visible from 360 degrees around the city. “Today, we officially celebrate the topping out of an iconic tower which has already become a fixture on Nashville’s skyline,” said Dean Stratou...
IHG Signs With Mabany Edris to Open Holiday Inn New Assiut Asayla
IHG | May 27, 2021
IHG® Hotels & Resorts, one of the world’s leading hotel companies, has signed a Management Agreement with Mabany Edris, a well-known real estate owner and developer in Egypt, to open Holiday Inn New Assiut Asayla. The hotel was signed at a ceremony in Egypt in presence of Abdel Fattah Al-Assi, Assistant Minister of Tourism and Antiquities and Mohamad Anwar, Deputy Head of Urban Communities Authorities. IHG has a strong legacy in Egypt, having opened its first hotel in 1980s, and currently operates over 2000 rooms and have more than 800 rooms in the pipeline, across brands. The announcement follows several high-profile signings this ...
Driftwood Capital Begins Conversion of Downtown Wilmington Office Tower Into a 134-Key Staybridge Suites Hotel
Driftwood Capital | May 26, 2021
Wilmington, Del. (May 26, 2021) – Driftwood Capital, a vertically integrated commercial real estate investment, development and lending platform specializing in hospitality, announces that it has begun construction on the $31 million conversion of an 11-story office building into a brand new Staybridge Suites hotel in downtown Wilmington, Delaware. The property, which will consist of 134 suite-style rooms with a contemporary look and feel, is expected to open to the public in the second quarter of 2022. The project team includes Whiting-Turner Contractor Co. and Dever Architects. Driftwood Hospitality Management (DHM), a national hotel o...
IHG Hotels & Resorts Signs Three Hotels in Turkey Across Its Luxury, Premium and Essentials Collections
IHG® | May 26, 2021
Strategic market growth continues with the unveiling of InterContinental Grand Ankara, Crowne Plaza Istanbul Tuzla Viaport Marina and Holiday Inn Express Ankara Airport. IHG Hotels & Resorts (IHG), one of the world's leading hotel companies, is proud to announce its continued strategic expansion in Turkey with three signings – InterContinental Grand Ankara, Crowne Plaza Istanbul Tuzla Viaport Marina and Holiday Inn Express Ankara Airport. This outstanding trio of properties further strengthens IHG Hotels & Resorts’ growth across its Luxury, Premium and Essentials collections through the addition of nearly 600 rooms. It also rein...
Paramount Lodging Advisors Arranges the Sale of the DoubleTree by Hilton St. Louis Airport Hotel
Paramount Lodging Advisors | May 25, 2021
St. Louis, MO—Paramount Lodging Advisors (PLA) has successfully sold the DoubleTree St. Louis Airport located at 4505 Woodson Rd. PLA Associates Beau Mullenix and Lora Simpson, and Senior Managing Director Adam Montufar represented the seller in this transaction. The sale of the 158-room hotel is the second property transacted by PLA in the St. Louis market to close this month. The DoubleTree by Hilton STL Airport recently underwent a comprehensive $5.5MM renovation and is ideally located directly South of St. Louis Lambert International Airport. "Selling a privately owned, full-service airport hotel during COVID is not an easy assign...
Wyndham Launches Days Inn by Wyndham Brand in Turkey
Days Inn by Wyndham | May 25, 2021
STANBUL, May 25, 2021 -- Wyndham Hotels & Resorts, the world's largest hotel franchising company by number of properties with over 8,900 hotels across nearly 95 countries, is further strengthening its position as Turkey's largest international hotel chain with the upcoming opening of the newly built Days Hotel by Wyndham Istanbul Maltepe, its first property in the country under the well-known economy brand. Located close to Maltepe's business district, several nearby recreational areas and with convenient access to Istanbul's city center, the 80-room hotel is slated to open later this summer as travel demand is expected to pick up. ...
Marriott International Signs Agreement to Debut The Ritz-Carlton Brand in Ningbo
Marriott International | May 25, 2021
Marriott International today announced the signing of an agreement with the Ningbo Central Plaza Construction and Development Co. Ltd to bring Marriott Bonvoy’s iconic Ritz-Carlton brand to the heart of Ningbo. Expected to open in 2025, The Ritz-Carlton, Ningbo is set to elevate luxury in the destination with its legendary service. “We are pleased to announce the signing of The Ritz-Carlton, Ningbo. This hotel will redefine the luxury hotel experience in the vibrant coastal city through The Ritz-Carlton brand’s refined style and legendary services,” said Gavin Yu, Senior Vice President of Development, Greater China, Marriott Intern...
Europe’s Hotel Construction Pipeline Remains Healthy and Continues to Grow in the First Quarter of 2021
Lodging Econometrics (LE) | May 25, 2021
May 25, 2021 – PORTSMOUTH, NH – According to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts at LE report that at the start of 2021, Europe’s hotel construction pipeline increased 5% by projects and 6% by rooms year-over-year (YOY). Europe ends the first quarter of 2021 with 1,928 projects/310,523 rooms, a record high project and room count for the region. As the hotel construction pipeline remains strong in Europe, vaccination rates also continue to rise and European governments are beginning to ease restrictions on travel and tourism. On May 19, the European Union (EU) announced t...
Cambria Hotel New Haven Breaks Ground in Connecticut
Cambria Hotels® | May 24, 2021
ROCKVILLE, Md., May 24, 2021- Cambria Hotels, an upscale brand franchised by Choice Hotels International, Inc. (NYSE: CHH), continues its expansion around the country with the official start of construction on a Cambria hotel in New Haven, Connecticut. The six-story, 130-room upscale hotel is expected to open in Summer 2022. Located at 20 Dwight Street in the coastal city of New Haven, the Cambria Hotel New Haven is a short walk to Yale University, Yale New Haven Hospital Saint Raphael Campus, Yale New Haven Children's Hospital, and Yale School of Medicine. The hotel is also near New Haven Green, West River Memorial Park, Hammonasset B...
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