Sonnenblick-Eichner Company Arranges $50,000,000 of First Mortgage Financing for the Cliffs Hotel & Spa, Pismo Beach, California
Sonnenblick-Eichner Company | May 11, 2022
Paramount Lodging Advisors Successfully Sells the Wyndham Garden Inn Oklahoma City Airport
Paramount Lodging Advisors | April 5, 2022
Finance & Development
Hard Rock Partners With GEK TERNA Group to Develop Hard Rock Hotel & Casino Athens
June 23, 2022
ATHENS, Greece, June 23, 2022 -- Hard Rock International and GEK TERNA Group held a special event in Athens yesterday signaling the official start of their partnership for the construction and operation of an integrated resort and casino, located in the iconic area of the Athens Riviera, within the context of "The Ellinikon" development. Hard Rock Hotel & Casino Athens, which is set to open in 2026, will be a unique destination in Europe, combining a 5-Star luxury hotel, a world class gaming floor, a premier meeting and convention space, a state-of-the-art entertainment venue, internationally renowned food and beverage, luxurious ...
IHG to Launch voco Brand in Japan in Partnership With NTT Urban Development Corporation
IHG Hotels & Resorts | June 23, 2022
IHG Hotels & Resorts (headquartered in the UK; IHG ANA Hotels Group Japan, Minato-ku, Tokyo, Japan, CEO: Abhijay Sandilya) will launch its popular voco Hotels brand in Japan for the first time, following the signing of a management agreement with NTT Urban Development Corporation (that will be represented via its subsidiary UD Hospitality Management Corporation) that will see it open the flagship voco Osaka Central in 2023. The voco brand has seen phenomenal success since its global launch in 2018, and the signing of voco Osaka Central marks the 75th signing for IHG in just over three years, with 35 high quality properties alrea...
IHG Hotels & Resorts Breaks Ground on InterContinental Grenada Resort
IHG Hotels & Resorts | June 23, 2022
IHG Hotels & Resorts, one of the world’s leading hotel companies, recently celebrated the groundbreaking of its new InterContinental Grenada Resort hotel. Located on the scenic shoreline of La Sagesse Beach, and adjacent to the highly anticipated, in-development Six Senses Grenada hotel, the InterContinental Grenada Resort is projected to open in 2025. Featuring 150 rooms and 30 private suites, the InterContinental Grenada Resort will extend the luxury hotel brand’s legacy of service excellence, award-winning design and cultural discovery to its guests. The resort’s luxurious spa and pool offer an ideal mix of relaxation and secl...
Wink Hotels to Open Two New Lifestyle Hotels in Danang, Vietnam
Wink Hotels | June 23, 2022
Ho Chi Minh City, 23 June 2022 - Wink Hotels, Vietnam’s home-grown lifestyle hotel brand which debuted its first property in Ho Chi Minh City in March 2021, is set to open two new hotels in Vietnam’s vibrant coastal city of Danang. The two hotels will mark the next steps in the revolutionary hospitality group’s plans to expand with 20 hotels in Vietnam in the coming five to seven years. The brand is disrupting traditional hospitality norms with streamlined services, tech-driven stays, a focus on sustainability, as well as space-smart and chic rooms. Wink Hotel Danang Centre is slated to open by the end of 2022, while the 25-floor Wi...
Dream Hotel Group Signs New Unscripted Hotel in Wichita, Kansas
Unscripted Hotels | June 22, 2022
NEW YORK, NY (June 22, 2022) – Renowned hotel and brand management company Dream Hotel Group, home to its Dream Hotels, Unscripted Hotels, The Chatwal and new By Dream Hotel Group brands, today announced plans to open a 155-key hotel as centerpiece of the new Ballpark District mixed-use development in the heart of downtown Wichita, Kansas. Scheduled to open in 2024, Unscripted Wichita will feature 155 beautifully designed guest rooms and multiple food and beverage offerings, including a signature restaurant on the street level and an impressive rooftop bar and lounge with sweeping views of the downtown skyline and Riverfront Stadium, tran...
Olive Real Estate Group and Hotel Equities Break Ground on New Residence Inn by Marriott at Colorado Springs Airport
Olive Real Estate Group | June 22, 2022
Atlanta, GA – June 22, 2022 – Olive Real Estate Group, Hotel Equities (“HE”), Colarelli Construction and Hotel Operations Services announced the official ground breaking of the new Residence Inn by Marriott hotel just minutes away from the Colorado Springs Airport Terminal. Located in Peak Innovation Business Park, the hotel is the first of a two-phase plan to build a Residence Inn and Courtyard by Marriott, which will be connected by a common lobby with shared amenities. The hotel will be managed by Hotel Equities, who will provide development services throughout the hotel’s construction, and is expected to open in late 2023 ...
IHG Hotels & Resorts and Sun Hospitality Group Expand Relationship With a Multi-Property Agreement to Develop Four Hotels
IHG Hotels & Resorts | June 22, 2022
IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, has announced a strategic alliance framework agreement with long-term partners Sun Hospitality Group (SHG) to introduce fresh and innovative concepts, experiences and products in Vietnam. IHG and SHG – a member of Sun Group – will extend their decade-long relationship with a multi-property agreement to develop four hotels across two destinations, offering 2,709 rooms to meet the rising demand from domestic and international guests. IHG’s Crowne Plaza, Holiday Inn Resort and voco brands will take centre stage in the expansion of Ba Na Hills – Vietn...
Trilith Breaks Ground on Boutique Hotel Set for Fall 2023 Opening in Fayetteville, Georgia
The Town at Trilith | June 22, 2022
FAYETTEVILLE, Ga. — Trilith Development, in partnership with Mainsail Lodging & Development and Development Ventures Group, Inc. announced ground has been broken on an innovative boutique hotel that will serve as a flagship destination in Trilith. The hotel will be located in the heart of the Town at Trilith, an unparalleled 235-acre, internationally inspired town in Fayetteville, Georgia located adjacent to Trilith Studios. Construction on the community’s new showpiece is underway with an anticipated opening date of fall 2023. A comprehensive brand reveal for the boutique hotel will be announced this summer. “This unique hote...
IHG Signs With THR Hotel for InterContinental Penang Resort in Malaysia
IHG Hotels & Resorts | June 21, 2022
Penang, Malaysia – 21 June 2022: IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, is proud to announce the signing of InterContinental Penang Resort, in partnership with THR Hotel (Penang) Sdn Bhd, a subsidiary of a leading Malaysian hotel owner, Tradewinds Corporation Berhad (Tradewinds Corp). The collaboration will see IHG grow its Luxury & Lifestyle portfolio in Malaysia by transforming the former Penang Mutiara Beach Resort at Teluk Bahang into an IHG-branded luxury beach resort. Truly nostalgic and immersive, the resort will create a haven for couples and families whilst redefining luxury beach to...
Maritim Hotels Group and Union Investment Celebrate Topping Out of Flagship Property, Maritim Hotel Amsterdam
Maritim Hotels | June 21, 2022
German Maritim Hotels group has signed a new 50-year lease with Union Investment for the biggest integrated congress hotel in Europe, being developed in Amsterdam North, close to the River Ij and opposite the city’s central railway station across the waterway. The hotel, together with the Yvie residential tower being constructed alongside, represent a total investment commitment to the area development project of around €500 million by Union Investment. The agreement was announced at a ‘topping out’ ceremony in the Maritim Hotel tower on 15th of june by the well-known German family-owned hospitality group and Union Investment, on...
NYU Investment Conference Takeaways
David J. Sangree | June 21, 2022
David Sangree, MAI, CPA, ISHC had the opportunity to attend the NYU International Hospitality Industry Investment Conference on June 6-7 at the New York Marriott Marquis. The following are some key highlights from the conference. ADR growth: The growth in ADR in 2022 has exceeded everyone’s projections for the industry. The actual ADR is above 2019 levels for the U.S. for the past 10 months although the inflation-adjusted ADR is just getting back to 2019 levels since March 2022. In some markets, such as the Florida Keys or northern New England, ADR growth has been well above the nation. Other urban and commercial-oriented markets have se...
Nobu Hospitality Grows Partnership With RCD Hotels in North America
Nobu Hospitality | June 21, 2022
Nobu Hospitality, the leading luxury lifestyle and iconic hotel and dining brand in partnership with RCD Hotels, announces today two new hotels and residences in Punta Cana and Orlando. The introduction of these two destinations marks the fifth successful collaboration between Nobu Hospitality and RCD Hotels. The partnership commenced back in 2016 with the opening of Nobu Hotel Miami Beach and has continued to flourish over the years with the introduction of Nobu Hotel Los Cabos in 2019, Nobu Hotel Chicago in 2020, and the imminent arrival of Nobu Los Cabos Residences, 60 stunning units situated next to the hotel and overlooking the golf c...
Propst Development and Chartwell Hospitality Complete Hilton’s Conrad Luxury Hotel in Nashville
Chartwell Hospitality | June 20, 2022
NASHVILLE, Tenn.--Propst Development and Chartwell Hospitality today announced they have finalized development of the Conrad Nashville hotel, located in the Broadwest city block in Midtown. The Conrad Nashville is Hilton’s first luxury branded hotel in Nashville and is scheduled to open on June 29, 2022. Additionally, the co-developers have completed the sale of the 234-room property to Northwood Investors, LLC, a premier owner and manager of luxury hotels around the world. “Our goal for Broadwest was to create a property that all Nashvillians are proud of, and we believe the Conrad raises the bar as one of the most luxurious hotel pro...
Rosewood Hotels & Resorts Partners With Vanzhong Group for 2026 Opening of Rosewood Xi’an
Rosewood Hotels & Resorts | June 20, 2022
Rosewood Hotels & Resorts continues its strategic global growth with the announcement of Rosewood Xi’an, an urban resort set to join the brand’s already robust portfolio of properties across China in 2026. Located east of Xi’an’s Qujiang District, the property will provide leisure and business travelers alike with an ultra-luxury home base located in close proximity to major arts, shopping, and tourism attractions. Representative of the brand’s guiding A Sense of Place® philosophy, wherein each Rosewood® property reflects its destination’s storied history, rich culture, and unique spirit, Rosewood Xi’an aims to full...
Accor Continues Its Expansion in Japan With the Signing of Mercure Haneda
Accor | June 16, 2022
Accor, a world leading hospitality group, has signed a management agreement with Samty K.K., bringing to life the first international airport hotel within close proximity to Tokyo’s Haneda Airport with the opening of Mercure Haneda. The newly built hotel is slated for completion in 2023. Haneda is a gateway to Japan with several international and domestic flights daily. It is close to downtown Tokyo and offers convenient access to Yokohama. Tokyo Mercure Haneda will be strategically located within 10-minute drive from Haneda Airport and within a few hundred metres away from Otorii Railway Station. The hotel is a short stroll to Anamori-i...
Waldorf Astoria Hotels & Resorts Expands Into Malaysia With 2024 Opening in Kuala Lumpur
Hilton | June 16, 2022
KUALA LUMPUR, Malaysia – Waldorf Astoria Hotels & Resorts, one of Hilton’s (NYSE: HLT) luxury hotel brands, today announced its expansion into Malaysia with Waldorf Astoria Kuala Lumpur. Scheduled to open in 2024, Waldorf Astoria Kuala Lumpur will be developed and owned by Tradewinds Corporation Berhad and managed by Hilton. It continues the brand’s entry into sought-after destinations such as Sydney, Tokyo, Osaka and Jakarta, and joins an award-winning portfolio of Waldorf Astoria Hotels & Resorts in Asia Pacific in destinations like the Maldives, Bangkok, Beijing and Shanghai. “After many years of shared success,...
Hilton Signs With Çalik Holding A.S. for Canopy by Hilton Istanbul Taksim
Hilton | June 15, 2022
ISTANBUL – Hilton (NYSE: HLT) is celebrating a historic moment with the exciting announcement of its 100th trading or pipeline hotel in Türkiye. In an agreement signed with Çalık Holding A.S., Canopy by Hilton Istanbul Taksim is expected to open in 2023 and will not only achieve a century of hotels either already operating or under development in Türkiye, but also signal the debut of the Canopy boutique lifestyle brand in the country. Tugrul Temel, managing director, development, Türkiye, Hilton said, “I’m delighted and proud to announce this special milestone for Hilton which sees us reach 100 hotels in Türkiye. Canopy by...
Marriott Signs With AKYN Hospitality Group for Courtyard by Marriott Quy Nhon
AKYN Hospitality Group | June 14, 2022
HO CHI MINH CITY, Vietnam, June 14, 2022-- AKYN Hospitality Group has officially announced the agreement signing with Marriott International to bring Courtyard by Marriott brand to Quy Nhon, an up-and-coming coastal destination in south-central Vietnam. Scheduled to open in early 2025, Courtyard by Marriott Quy Nhon, developed by AKYN Hospitality Group, promises to bring a high-class experience with international standards for locals, domestic and foreign tourists. Accentuating contemporary design that encompasses comfort and functionality, Courtyard by Marriott Quy Nhon features 362 guestrooms and suites with b...
Hilton Signs With Mitsubishi Estate Co. to Open Conrad Nagoya in Japan
Hilton | June 14, 2022
TOKYO – June 14, 2022 – Hilton (NYSE: HLT) today announced the signing of an agreement with Mitsubishi Estate Co., Ltd. to open Conrad Nagoya in the summer of 2026. The hotel will be part of a multi-company* mixed-use development, located in Nagoya’s central business district of Sakae, Aichi Prefecture. “Together with Mitsubishi Estate Co., Ltd., we are delighted to bring Conrad Hotels & Resorts to Nagoya, Japan’s center of manufacturing and craftsmanship, and one of Japan’s leading metropolitan areas with a population of more than 10 million,” said Clarence Tan, senior vice president, Development, Asia Pacific. “Na...
Sonnenblick-Eichner Company Advises on $35 Million of Interim Leasehold First Mortgage Financing for Moxy Oakland Downtown, Oakland, California
Sonnenblick-Eichner Company | June 14, 2022
Beverly Hills, CA, (June 14, 2022) -- Sonnenblick-Eichner Company announced today that it was the exclusive advisor to the Borrower for the placement of $35 million of first mortgage interim financing for the leasehold interest in the Moxy Oakland Downtown, a 172-room hotel located in the Uptown Arts and Entertainment District of Oakland, California. The hotel opened in March of 2021. Proceeds from this non-recourse financing were used to retire the construction loan and provide fresh capital to advance the hotel towards stabilization. The property was developed by Tidewater Capital and Graves Hospitality and is managed by Graves Hospitali...
Hospitality Financial Leadership: The First Fifty
David Lund | June 13, 2022
By David Lund As I write this piece, I am proud to say I am 58 years young. So far, my life has been great. Many challenges to overcome like anyone and many bumps in the road for sure. Someone once said that success is simply going from one disaster to the next and the trick with that is no stopping to lament on the carnage left behind. That might be a little tongue and cheek, but you get the point. Things happen to us all and our ability to move on and keep going without the permanent thoughts about what happened and why, I believe is the key to my life. That does not mean I do not learn from my mistakes, but it does mean I go easy on ...
Cambria Hotels Drives Coast-to-Coast Expansion With 10 New Franchise Agreements and Four Groundbreakings
Cambria Hotels | June 10, 2022
ROCKVILLE, Md., June 10, 2022 -- Building on its strategy to continually grow its footprint in markets sought-after by guests and developers alike, Cambria Hotels, an upscale brand franchised by Choice Hotels International, Inc. (NYSE: CHH), has awarded 10 franchise agreements to develop the new Cambria prototype. Launched in late 2021, the new prototype is uniquely designed to build the right sized Cambria for the right market, helping to lower the total cost of owning a Cambria hotel while continuing to deliver on the core hallmarks upscale guests prefer. The new Cambria prototype option will continue to deliver the brand hall...
Cambria Hotels Breaks Ground in Lake Placid, New York
Cambria Hotels | June 10, 2022
ROCKVILLE, Md., June 10, 2022-- Continuing its rapid expansion into popular markets across the country, Cambria Hotels, an upscale brand franchised by Choice Hotels International, Inc. (NYSE: CHH), officially started construction on the Cambria Hotel Lake Placid - Lakeside Resort in Lake Placid, New York on June 9, 2022. Expected to open in fall 2023, the new 185-room Cambria will be the brand's fourth hotel in New York and adds to Cambria's growing portfolio of properties in travelers' favorite leisure destinations. Representatives from Choice Hotels and developer, Bhavik Jariwala, of Matrix Hotels, along with Town Supervisor,...
Restaurateur Charlie Palmer and Four Seasons Veteran Christopher Hunsberger Launch Appellation Hotel Brand
Appellation | June 8, 2022
Healdsburg, CA: Celebrated American chef Charlie Palmer and hotel industry veteran Christopher Hunsberger announce the co-founded launch of Appellation, the first hotel brand born from the elegant merger of culinary and hospitality. Appellation, meaning “to give a name to a place,” will cultivate community around food and the role it plays in bringing people together, while exuding ‘approachable luxury’ in accommodations and service. The brand’s initial new-build hotels will debut in iconic leisure destinations in Idaho with Appellation Sun Valley (2023) and two distinct regions in California with Appellation Healdsburg (2023) and A...
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