Finance & Development
IHG Signs With Arabella Group to Develop Three New Hotels in Egypt
IHG | March 23, 2023
The signing will add three hotels to IHG’s country portfolio across brands including InterContinental, voco and Crowne Plaza 23 March 2023, Egypt: IHG® Hotels & Resorts, one of the world’s leading hotel companies, has signed a management agreement with Arabella Group to develop three new hotels in Egypt between 2023 and 2026. The hotels — InterContinental North Coast Direction White, voco Cairo Arabella Plaza Cairo, and Crowne Plaza Cairo Arabella Clubhouse — will see IHG add over 500 keys to its Egypt portfolio in response to the growing demand for luxury resorts and premium hospitality options in the North African c...
Ray Regan Joins Paramount Lodging Advisors Team
Paramount Lodging Advisors | March 23, 2023
ALBUQUERQUE, NM – The Paramount Lodging Advisors (PLA) team is pleased to announce Ray Regan as their newest Associate. Ray is joining fellow PLA team member, Michael Sheppard in the New Mexico office and will be focusing on the southwestern region of the United States. Ray has a successful background in both individual and portfolio hospitality and commercial transactions in the southwestern market. “I am thrilled to extend the invaluable experience and resources of the Paramount Lodging Advisors platform to the benefit of existing and prospective clients across New Mexico and the broader SW region,” stated Regan. Ray can be c...
Wyndham Hotels & Resorts Asia Pacific and Alliga Eternity Company Limited to Launch First Wyndham Alltra in Asia Pacific
Wyndham Hotels & Resorts | March 23, 2023
23 MARCH 2023, SINGAPORE, VIETNAM – Wyndham Hotels & Resorts (“Wyndham”), the world’s largest hotel franchising company with more than 1,600 hotels in approximately 20 markets and territories in Asia Pacific, has today signed an agreement to launch the first Wyndham Alltra in the region under a partnership with pioneering Vietnamese private yacht manufacturer, Alliga Eternity Company Limited (“Alliga”). Named Wyndham Alltra Cat Ba, the 300-cabin superyacht resort will be docked in the sea off Cat Ba Island of Vietnam’s Halong Bay. It will be the first project under the illustrious partnership of Wyndham and Alliga, with i...
Shaner Hotels Converts Courtyard by Marriott Marathon Florida Keys to Courtyard Faro Blanco Resort
Shaner Hotels | March 22, 2023
MARATHON, Fla.--Officials of Shaner Hotels, an award winning, international hotel owner, operator and developer, today announced the completed conversion of the 124-room Courtyard by Marriott Marathon Florida Keys to the Courtyard Faro Blanco Resort. The newly converted property, owned by Prime Group and operated by Shaner, marks Marriott International’s first Courtyard Resort in the United States. The hotel plans to add cabanas and additional lighting to the pool deck with more activities and on-site experiences for guests. "The conversion of the Marriott property into a fully integrated resort allows us to serve our guests in the Flori...
Extended Stay America Signs Deal With BASK Development for Eight New Extended Stay America Premier Suites Locations
Extended Stay America | March 22, 2023
Charlotte, NC, March 22, 2023 — Extended Stay America announced today that it entered into an agreement with BASK Development for eight new Extended Stay America Premier Suites located throughout major markets in Florida. "We are excited to welcome BASK Development as a new owner of Extended Stay Premier Suites brands," said Mark Williams, Managing Director, Franchise Development, Extended Stay America. "Franchising continues to play a large part in Extended Stay America's development strategy, and we look forward to working with all of our current and prospective owners to continue growing all of our brands throughout the United States." ...
Wyndham Ramps Up ECHO Development, Pipeline Grows to Over 200 Hotels in Year One
Wyndham Hotels & Resorts | March 21, 2023
PARSIPPANY, N.J., March 21, 2023 -- Wyndham Hotels & Resorts, the world's largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today announced the continued expansion of its innovative ECHO Suites Extended StaySM by Wyndham brand, which in just one year, now has more than 200 hotels in its development pipeline. Rapidly outpacing initial growth expectations, the developer-driven brand caters to the white-hot extended-stay market, which continues to outperform all other industry segments. Late last year, the brand broke ground on its first three hotels and nearly two dozen more ground break...
IHG Hotels & Resorts: Accelerating Into a New Era of Growth
IHG Hotels & Resorts | March 21, 2023
Elie Maalouf, CEO, Americas, IHG Hotels & Resorts, said: “IHG continues to invest in strategic efforts that strengthen our brand portfolio while building trust and confidence among our guests and owners. We continue to see strong growth in the Americas and around the world, notably among our Suites brands and the Holiday Inn brand family and through the addition of exceptional Luxury & Lifestyle properties and brand debuts in key markets. With more than 4,300 Americas hotels among a more than 6,100 property global portfolio that spans 18 new and iconic brands, we’re excited for the future and well positioned to deliver even great...
IHG and AWC Extend Long-Term Strategic Partnership With Signing of Kimpton Pattaya
IHG Hotels & Resorts | March 21, 2023
Bangkok, Thailand – 21 March 2023: IHG Hotels & Resorts, one of the world’s leading hospitality companies, is proud to announce Kimpton Pattaya, as an exciting extension of its long-standing partnership with Asset World Corp Public Company Limited or AWC in Thailand. The agreement is another major milestone in the relationship between IHG and AWC – renowned as being the Kingdom’s leading integrated lifestyle real estate group, with a stellar track record in market-leading tourist destinations. This will be their second collaboration for a Kimpton Hotels & Restaurants property in the country. The strategic partnership b...
Baird/STR Hotel Stock Index Fell 2.5% in February
Baird | March 20, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index fell 2.5% in February to a level of 5,541. “Hotel stocks – just like the broader market – pulled back in February as the focus turned to earnings and initial 2023 outlooks,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The global hotel brand stocks, while down slightly during the month, outperformed the S&P 500 on the heels on strong fourth quarter earnings reports and guidance that matched expectations; hotel REITs were weaker and relatively underperformed as investors focused on somewhat mixed fourth quarter earnin...
Marriott International Inks Landmark Agreement With Rua Al Madinah Holding Company to Open Eight Hotels in Saudi Arabia
Marriott International | March 20, 2023
Marriott International, Inc. announced it has signed an agreement with Rua Al Madinah Holding Company to open eight hotels in the Holy City of Madinah in Saudi Arabia. Located in close proximity to the Prophet’s Mosque, Al Masjid An Nabawi, the planned properties will be part of the Rua Al Madinah Project which aims to elevate the service and travel experience for visitors of Madinah. The anticipated openings will feature approximately 4,400 rooms across eight of the company’s brands – The Ritz-Carlton, JW Marriott, Marriott Hotels, Westin Hotels & Resorts, Le Méridien Hotels & Resorts, Four Points by Sheraton, Aloft Hotels, an...
Ennismore Partners With Al Hazoom Group to Bring Mondrian Brand to UAE
Ennismore | March 20, 2023
Abu Dhabi, UAE – Ennismore, the fastest-growing lifestyle hospitality company, today announces it will open Mondrian Abu Dhabi, the brand's first project in the United Arab Emirates, in collaboration with Al Hazoom Group. Opening in 2024 and located in the city's bustling downtown area alongside the Abu Dhabi canal, Mondrian Abu Dhabi will be a spectacular hotel providing waterfront views overlooking both Reem Island and Maryah Island and direct views of the city skyline. The project has already broken ground and will join the Mondrian portfolio of seven operating hotels. The new Mondrian Abu Dhabi will feature 221 rooms and 80 serviced ap...
‘A Hotel Within a Hotel’: Meliá Chiang Mai Unveils ‘The Level’
Meliá Hotels & Resorts | March 16, 2023
CHIANG MAI, Thailand (March 16, 2023) – Meliá Chiang Mai has unveiled a ‘hotel within a hotel’ called The Level that sets apart 43 rooms and suites as well as a private lounge and a host of bespoke privileges. Housed on the upper floors of the 22-story urban hotel, ‘The Level Rooms’, ‘The Level Premium Rooms’, ‘The Level Suites’ and ‘The Level Presidential Suite’ are 30sqm, 44sqm, 62sqm and 113sqm respectively and afford some of the city’s most spectacular views. Guests staying in The Level experience an upgraded level of service and benefits, including exclusive access to 21st floor executive lounge The Level Lou...
C-PACE Update: Global Hospitality Group® Completes $172M in C-PACE Transactions for Hotel and Other Real Estate Projects in 2022
Jim Butler | March 15, 2023
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com The Global Hospitality Group of Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce the completion of $172 million in C-PACE (Commercial Property Assessed Clean Energy) financing transactions for the year 2022. This total includes over $97 million in hotels and condos, more than $58 million in multifamily, and $16 million in senior living facilities. C-PACE is a low-cost, nonrecourse financing that creates a lien on the real property and is repaid through property taxes. It first emerged as a technique for funding energy...
Hyatt Teams Up With Be Live Hotels to Expand Inclusive Collection in the Caribbean
Hyatt Hotels Corporation | March 15, 2023
CHICAGO (March 15, 2023) – Hyatt Hotels Corporation (NYSE:H) today announced a multi-property collaboration with Be Live Hotels that will include the growth of the Sunscape Resorts & Spas brand in the Caribbean. The deal is expected to expand Hyatt’s Inclusive Collection, which was introduced following Hyatt’s acquisition of Apple Leisure Group in 2021, by nearly 2,000 rooms. Two Be Live Hotels properties in the Dominican Republic, owned by Spanish hospitality company Globalia, will be renovated and transformed into Sunscape Resorts & Spas. The renovated hotels are expected to open in 2023, bolstering the family-friendly b...
Ennismore Signs With Inzigna Capital for Mondrian Tulum Hotel & Residences
Ennismore | March 15, 2023
Tulum, MEXICO - Ennismore, the fastest-growing lifestyle hospitality company, announces the signing of a Mondrian Hotels & Residences development in Tulum, Mexico, with Inzigna Capital. Mondrian Tulum Hotel & Residences will open in 2025 and be the second Mondrian in Mexico, following the highly-anticipated and exciting opening of Mondrian Mexico City at the end of 2022. Mondrian Tulum Hotel & Residences will be an impressive 64-guestroom hotel with four F&B outlets (including a destination restaurant, lounge bar, speciality rooftop bar, pool bar & grill), spa, fitness centre, outdoor pool, and several other amenities. Th...
Parks Hospitality Group Celebrates Topping Off of Embassy Suites by Hilton Asheville Downtown
Hilton | March 14, 2023
ASHEVILLE, N.C. – March 14, 2023 – Parks Hospitality Group announces the “topping off” of its new hotel in Asheville, North Carolina, signifying that the structural framework of the property is now complete. The 188-room hotel is slated to open in late Fall 2023. The only all-suites property in the area, Embassy Suites by Hilton Asheville Downtown will offer a clean and modern design complemented with raw and rustic elements, emphasizing the natural beauty of the surrounding mountain peaks and the destination’s innate aesthetic. The property is conveniently located in the heart of the city and will feature sweeping views of N...
Aptech’s Enterprise Accounting Software Scores BIG With Hoteliers Across All Segments
Aptech Computer Systems Inc. | March 14, 2023
Users rank PVNG by Aptech 98 out of 100 for ease of use, ROI, implementation and customer support PITTSBURGH, March 14, 2023 — Aptech was a finalist in the Hotel Tech Report “Best Finance & Accounting Software” 2023 popularity index. Although the provider of hospitality financial management solutions narrowly missed 1st place by a mere 2 points, the company said more than 100 reviews by users of its PVNG enterprise accounting solution say it is No. 1. “We certainly feel like winners, especially since our customers made it abundantly clear that in their eyes Aptech is ‘the best’ hotel accounting software on the market,”...
Accor Brings First MGallery Resort to the Philippines With Signing of South Palms Resort Panglao Bohol – MGallery
Accor | March 13, 2023
BOHOL, PHILIPPINES – Accor, the region’s largest international hotel operator, has continued its rapid expansion in the Philippines with the signing of South Palms Resort Panglao Bohol - MGallery, a locally-inspired five-star resort on the idyllic island of Panglao that will introduce this emerging destination’s unique heritage and community values to visitors from all around the world. The resort joins a strong pipeline of 16 committed projects across the country, and will become the first resort-style property for MGallery in the Philippines. Scheduled to open its doors in 2024, the 188-key South Palms Resort Panglao Bohol – MGal...
LivAway Suites Breaks Ground on Flagship Hotel in Smyrna, Tennessee
LivAway Suites | March 9, 2023
SMYRNA, Tenn., March 9, 2023 -- LivAway Suites ™, the economy extended stay brand created and designed "for developers, by developers" officially broke ground on its first location in Smyrna, TN, on March 8th. The event was well attended with prominent city officials breaking ground including Vice Mayor, Marc Adkins. With ideal proximity to Nashville and other nearby cities, the LivAway Suites-Smyrna is expected to attract extended-stay guests who will be providing services in Rutherford County and surrounding areas once the hotel opens in May 2024. The Smyrna location is the first of many groundbreakings slated for LivAwa...
The St. Joe Company Plans to Open 5 New Hotels in the First Half of 2023 Adding 646 Keys to Portfolio
The St. Joe Company | March 9, 2023
PANAMA CITY BEACH, Fla.--The St. Joe Company (NYSE: JOE) (“St. Joe”) anticipates completing and opening five new hotels in the first half of 2023. These hotels include The Lodge 30A, an 85-room boutique hotel located on Scenic Highway 30A that opened in February. Over the next four months the Company anticipates opening the 255-suite Embassy Suites by Hilton Panama City Beach Resort; the waterfront 124-room Hotel Indigo Panama City Marina; the 107-room Home2 Suites by Hilton Santa Rosa Beach; and Camp Creek Inn, a 75-room boutique hotel overlooking Camp Creek golf course. Once complete, these properties will more than double the number of...
Marriott International Signs Agreement With Neom to Open Three Properties Within Luxury Island Destination Sindalah
Marriott International | March 9, 2023
Marriott International, Inc. announced it has signed an agreement with NEOM to open three properties on its luxury island destination Sindalah, situated in the Red Sea off the northwest coast of Saudi Arabia. The multi-deal agreement includes Saudi Arabia’s first Autograph Collection Hotels property, as well as two Luxury Collection properties. “NEOM is one of the most highly-anticipated developments in the world and we look forward to working with its team to develop these three exciting properties,” said Jerome Briet, Chief Development Officer, Europe, Middle East & Africa, Marriott International. “The Luxury Collection and ...
Recently Acquired Cape Grace Hotel to Transition to Cape Grace Fairmont
Fairmont | March 9, 2023
DUBAI, United Arab Emirates, March 9, 2023-- Featuring an extraordinary location, on the vibrant V&A Waterfront, between an international yacht marina and the working harbour, with the breath-taking Table Mountain as a backdrop, the Cape Grace Hotel will transition into a fully branded Fairmont (https://www.Fairmont.com) property by end of 2023 (“Cape Grace by Fairmont”). The property has recently been purchased by Kasada Hospitality Fund LP (“Kasada”), the leading independent real estate private equity platform dedicated to hospitality in Sub-Saharan Africa. Guests staying at the hotel can choose to stay at one of its 120 luxu...
Nobu Hospitality Partners With Millenium Hospitality Real Estate for Nobu Hotel and Restaurant Sevilla
Nobu Hospitality | March 8, 2023
NEW YORK, March 8, 2023-- Nobu Hospitality, the luxury lifestyle brand founded by Nobu Matsuhisa, Robert De Niro and Meir Teper, in collaboration with Millenium Hospitality Real Estate SOCIMI ("MHRE"), is pleased to announce the development of Nobu Hotel and Restaurant Sevilla. Set to open spring 2023, the property marks the brand's sixth Spanish hotel and third project between Nobu Hotels and MHRE, following the announcements of Nobu Hotel Madrid and Nobu Hotel San Sebastián. Situated in front of the City Hall at the vibrant Plaza San Francisco in the heart of the Andalusian capital, Nobu Hotel Sevilla features ...
Marriott International Signs Agreement With Asset World Corporation to Bring The Ritz-Carlton to Phuket
Marriott International, Inc. | March 8, 2023
Marriott International, Inc., announced plans to introduce The Ritz-Carlton, its iconic luxury brand, to Phuket, Thailand following the signing of an agreement with Asset World Corporation (AWC). The agreement stipulates plans for the strategic renovation and rebranding of the existing Westin Siray Bay Resort & Spa, Phuket. Expected to open in 2025, The Ritz-Carlton, Phuket anticipates setting a new benchmark for luxury hospitality on the island. With its serene and secluded location on the unspoiled east coast of the island overlooking the Andaman Sea, The Ritz-Carlton, Phuket expects to offer guests a spectacular scenery and uninterr...
All Things Independent
Appointments/People on the Move
voco Guadalajara Neruda Opens in Mexico With 104 Guestrooms
IHG Signs With Arabella Group to Develop Three New Hotels in Egypt
STR: U.S. Hotel Results for Week Ending 18 March
SAHIC Preview: Business Travel Demand Returning Across South America
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