Finance & Development
QHotels Breaks Ground on Springhill Suites by Marriott Slidell
QHotels | July 19, 2019
LAPLACE, LA. JULY 19, 2019 - The city of Slidell, Louisiana welcomes QHotels as the chosen developers with rich experience and sustained success in hospitality. Their 21-year history of hotel operations has produced strong results with both high occupancy percentages and fair room rates throughout their portfolio. Through the partnership, LD Capital, QHotels has secured $4 million in funding for the hotel from the EB-5 Investment Program. LD Capital is proud to bolster the local economy with international capital, 94 new full-time jobs and additional construction jobs in a target employment area. “We look forward to the completion of ...
Hotel Franchising in Europe 2019 – The Push Continues for New Ways to Expand
Stephen Collins | July 18, 2019
Hotel Franchising in Europe is an update of our previous report published in 2014. The report aims to assist owners in increasing their understanding and awareness of the franchise business model and current market trends. The fees outlined in this report apply solely to hotels operating in Europe. By Stephen Collins, Sophie Perret Introduction The slew of acquisitions and mergers in the hotel industry over the past few years has rapidly changed the landscape. The ‘big’ brands are larger than ever and must continue to drive growth, lest they fall behind their peers. Their coverage, loyalty programmes and distribution channels are ac...
Omni Hotels & Resorts Named as Flag for New Hotel at Viking Lakes Developed With MVE Hotel
Omni Viking Lakes Hotel | July 18, 2019
EAGAN, MINN. (July 18, 2019) – Omni Hotels & Resorts announced today its newest hotel with Omni Viking Lakes Hotel, a four-star, full-service hotel located in the Viking Lakes development in Eagan, Minnesota. Omni joins MV Eagan Ventures; Ecolab; the Davis Family of Cambria; and Viking Lakes Hotel Physician Partners as ownership partners of MVE Hotel, LLC. “Omni Hotels & Resorts has extensive experience and a strong record in designing and operating luxury hotels and resorts across the country,” said MV Eagan Ventures Owner Mark Wilf. “The company’s expansion into Minnesota is a testament to this market and to the overa...
Radisson Hotel Group and Bülow AG Sign Deal for Porsche Design Tower Stuttgart
Radisson Blu | July 18, 2019
Brussels/Stuttgart - July 18, 2019 -- Radisson Hotel Group is pleased to announce the signing with Bülow AG for a new Radisson Blu hotel at the Porsche Design Tower Stuttgart, Germany. The Radisson Blu Hotel at Porsche Design Tower Stuttgart represents an exciting collaboration with developer Bülow AG. The design of the Porsche Design Tower Stuttgartwas developed in close collaboration with Studio F. A. Porsche, Zell am See. With its excellent location in the heart of Europe, the south German metropole is a perfect fit for Radisson Blu, Europe’s leading hotel brand in the upper upscale segment. Elie Younes, Executive Vice President &am...
YOTEL Signs With Cornerstone Partners Group for First Australian Hotel: YOTEL Melbourne
July 18, 2019
MELBOURNE, Australia, July 18, 2019 -- YOTEL today announced its first hotel in Australia: YOTEL Melbourne, slated to open in 2022. The hotel has been signed under a management agreement with Cornerstone Partners Group, an integrated hospitality asset owner and developer with offices in Malaysia, Taiwan and Australia. The 244-room property will be located on 63-69 City Road in Southbank – within walking distance of Melbourne's CBD, the Arts Precinct, Federation Square and the Melbourne Cricket Ground – to name a few. YOTEL Melbourne will be a flagship property for YOTEL in Australia, featuring the brand's latest generation of cabins...
Pebblebrook Hotel Trust Completes Sale of Hotel Amarano Burbank
Pebblebrook Hotel Trust | July 17, 2019
BETHESDA, Md. -- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it closed on the sale of the 132-room Hotel Amarano Burbank in Los Angeles, California for $72.9 million. The sale price of $72.9 million reflects a 15.8x EBITDA multiple and a 5.7% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the hotel’s operating performance for 2018. Based on the trailing 12-month period ended March 2019, the contracted sales price reflects a 16.9x EBITDA multiple and a 5.3% net operating income capitalization rate (after an assumed annual capital ...
Island Developers Plan August Groundbreaking for illa Bimini Resort & Residences
illa Bimini Resort & Residences | July 17, 2019
BIMINI, BAHAMAS (July 17, 2019) – You do not have to stray too far to come across your own piece of paradise; find serenity and barefoot luxury at one of the first world-class designed developments in Bimini – illa Bimini Resort & Residences. Designed by Island Developers, a leading Caribbean real estate development firm, globally recognized Oppenheim Architecture + Design and renowned landscape architect Raymond Jungles, the beachfront eco-chic resort is set to break ground August 2019 and feature residential villas and a five-star boutique hotel situated on three private islands, just north of Bimini. “Today’s high-net-worth-...
IHG Signs With Pro-Invest to Open Holiday Inn Express & Suites Sunshine Coast in Maroochydore Town Centre
IHG | July 17, 2019
Leading Australian hotel investment and development company, Pro-Invest, will open a Holiday Inn Express & Suites Sunshine Coast in Maroochydore Town Centre in 2020, following the purchase of a prime site in Maroochydore and lodgement of a development application with Economic Development Queensland for a new select-service upper midscale hotel. The 167- room hotel will be located in the heart of the new Maroochydore CBD, which is set to become the commercial and administrative hub of the rapidly growing Sunshine Coast region. Pro-Invest has a Master Development Agreement with InterContinental Hotels Group (IHG®) to develop and ope...
IHG and Lima Hotels Break Ground on New-Build Holiday Inn Express in Downtown Washington, D.C.
IHG | July 17, 2019
IHG® (InterContinental Hotels Group), one of the world's leading hotel companies, today announces the groundbreaking of a new-build Holiday Inn Express® hotel in downtown Washington, D.C. Scheduled to open in Q4 2020, the 247-room hotel will be owned by Washington, D.C.-based developer Habte Sequar with Lima Hotels LLC. Urgo Hotels & Resorts will manage the new property. Joel Eisemann, Chief Development Officer, Americas, IHG, said: “We are pleased to further establish the Holiday Inn Express brand presence in a premiere urban market such as Washington, D.C., and to serve the visitors of this historic city. We are also very plea...
Kimpton Hotels & Restaurants to Make 2020 Debut in Mexico With Opening of Two Boutique Hotels in Polanco
IHG | July 17, 2019
16 July 2019 -- Kimpton® Hotels & Restaurants announced today that the company will unveil their first properties in Mexico in 2020 with the opening of two high-end boutique hotels in the upscale neighborhood of Polanco in Mexico City. Both projects are deemed adaptive reuse, an area that Kimpton holds decades of experience in. The company is known for transforming historic or non-hotel buildings into highly stylized and unique boutique spaces that honor the building’s original character. The two hotels are owned by ZKC, a real estate investment fund specializing in Mexico City real estate developments. ZKC is developing the hote...
Hotel Equities and Horizon North Break Ground on New Fairfield by Marriott® Hotel in British Columbia
Hotel Equities | July 17, 2019
ATLANTA, GA – July 17, 2019 – Today, Hotel Equities and Horizon North Logistics Inc. (Horizon North) announced they broke ground on a fully-modular Fairfield by Marriott in Kitimat, British Columbia, Canada. The 120-room hotel is phase II of an entirely modular-built, mixed-use community development by owners, Horizon North. Hotel Equities has been selected as the managing partner to operate the new hotel. The anticipated opening date is Q1 2020. With valley views and a mountain backdrop, the Fairfield by Marriott Kitimat is ideally situated along the city’s major entrance and in close proximity to industrial development in th...
Helix Hospitality Acquires Two Columbus, Ohio Marriott Hotels
Helix Hospitality | July 17, 2019
July 17, 2019 (CHICAGO, IL) - Helix Hospitality, a Chicago-based hotel group with properties throughout the United States, is pleased to announce the acquisition of two properties in Columbus, Ohio: SpringHill Suites, an 80-suite hotel, located at 665 Taylor Road TownePlace Suites, a 94-suite hotel, located at 695 Taylor Road These mark the tenth and eleventh properties in the Helix Hospitality portfolio and the first two in the state of Ohio. Both properties are located near the John Glenn Columbus International Airport and offer complimentary breakfast, free Wi-Fi, and accessible fitness centers. Built in 1998, the pro...
Radisson Signs With Bay Invest Company for Radisson Hotel La Baie d’Alger in Algiers
Radisson | July 16, 2019
Brussels/Algiers - July 16, 2019 -- Radisson Hotel Group is proud to announce the signing of the Radisson Hotel La Baie d’Alger in Algiers; its second hotel in Algeria and first Radisson-branded hotel in the country. The new hotel will be a strong addition to the group’s portfolio of almost 100 hotels in operation and under development across 32 countries in Africa. The capital of Algeria, Algiers is the political, economic and cultural center of Africa’s largest country. It is a cosmopolitan city that enjoys a prominent location on a bay along the Mediterranean coastline. Algeria itself continues to show a spike in tourism. Accordin...
Mohr Capital Acquires Hyatt Regency Hotel Ground Lease In Downtown Milwaukee
Mohr Capital | July 16, 2019
MILWAUKEE, July 16, 2019 -- Dallas-based, privately-held real estate investment firm, Mohr Capital, has acquired its first hotel ground lease in downtown Milwaukee at 333 W. Kilbourn Avenue. The Hyatt Regency Hotel that sits on the 99-year ground lease is a 4-star hotel with 481 rooms on 22 floors. The hotel is managed by Interstate Hotels, one of the largest hotel managers in the United States. "We are excited to add this ground lease to our portfolio of high-quality assets across the United States," said Rodrigo Godoi, Director of Acquisitions for Mohr Capital. "We look forward to continuing our strategy of adding leased fee estates to o...
Hotel Equities Tapped to Manage Four Points by Sheraton Charlotte Lake Norman in Huntersville, NC
Hotel Equities | July 16, 2019
Atlanta, GA – July 16, 2019 – Today, Atlanta-based hotel owner, operator and developer, Hotel Equities (HE) announced their appointment as the 3rd party operator for the Four Points by Sheraton Charlotte Lake Norman. The recently purchased 101-room hotel is owned by Lake Norman NIA, LLC, a joint venture between Virginia-based TLTsolutions and North Carolina-based Second Line Investments (in association with The Calhoun Group Realty). The hotel offers over 2,000 square feet of state-of-the-art, flexible meeting space able to accommodate 100+ guests. The Four Points Charlotte Lake Norman is Hotel Equities’ tenth Four Points by Sherat...
Marriott International Enters Agreement With GNV Group to Debut the First W Hotel in Argentina
Marriott International, Inc. | July 16, 2019
JULY 16, 2019 – Marriott International, Inc. (NASDAQ: MAR) has signed an agreement with GNV Group to bring its iconic W Hotels Worldwide brand to Argentina for the first time in dynamic Buenos Aires, underscoring growing demand from developers and consumers alike for W Hotels’ bold design, signature Whatever/Whenever® service and innovative programming.The hotel and residences - expected to open in 2024 - will be located within a $100 million, 34-story, mixed-use tower poised to rise in the heart of the captivating Puerto Madero neighborhood, the ideal location for the brand’s passion for what’s new/next. The expansion into Argentina...
Access Point Financial Appoints New Senior Leadership Team to Accelerate Corporate Growth and Program Expansion
Access Point Financial | July 15, 2019
Recognized leader in hospitality-focused lending announces key appointments, including Dilip Petigara as CEO and Michael Lipson as Chairman of the Board ATLANTA – July 15, 2019 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced two key appointments to its senior leadership team, naming Dilip Petigara as Chief Executive Officer and Michael Lipson as Chairman of the Board of Directors. The appointments were made as part of aggressive new corporate growth initiatives put in place to meet the growing demand for financial services in th...
Radisson Signs With MV Werften for New 98-Room Park Inn by Radisson Wismar, in Northern Germany
Park Inn by Radisson | July 11, 2019
Brussels/Wismar - July 11, 2019 -- Radisson Hotel Group is pleased to announce the signing of the new Park Inn by Radisson Wismar, in Northern Germany, with the property set to open in Q3 2019. The historic city of Wismar boasts one of Germany’s best-preserved medieval town centers, while the old city district from the golden age of the Hanseatic League has been a UNESCO World Heritage Site since 2002. Following the lead of the Radisson Blu and Park Inn by Radisson hotels in Lübeck and the Radisson Blu Hotel, Rostock, this new property in Wismar will be the fourth hotel to be operated by the Radisson Hotel Group on the German Baltic coa...
IHG Signs With Maad International for World’s Largest voco Opening in Saudi Arabia
IHG | July 11, 2019
IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, is continuing to expand its footprint across Saudi Arabia with the signing of voco Makkah in partnership with Maad International, among the Kingdom’s largest hospitality real estate development companies. The property will be the largest voco in the world, when operational in early 2020, and it will cater to the growing number of religious tourists in KSA. The 4,200-room hotel will take IHG’s portfolio in the country to over 19,500 rooms, solidifying IHG’s position as one of the largest hospitality players in Saudi Arabia. voco Makkah will occupy a p...
Choice Hotels and Weintraub Real Estate Break Ground on Cambria Hotel Calabasas – Malibu
Cambria® Hotels | July 11, 2019
ROCKVILLE, Md., July 11, 2019 -- Choice Hotels International, Inc. (NYSE: CHH) and Weintraub Real Estate Group announced the official start of construction on the Cambria Hotel Calabasas – Malibu. Expected to open in early 2021, the three-story, 125-room upscale hotel will further the brand's Golden State presence, which includes the Cambria Hotel LAX and will expand to Anaheim, Sonoma, and Napa by year end, with the Cambria LA Spring Street under development. The Cambria Hotel Calabasas – Malibu is being built at 26300 Rondell Rd. along the 101 Freeway, which connects Los Angeles and San Francisco. Once open, the hotel will offer upsc...
Marriott International Enters Agreement With GNV Group to Debut the First W Hotel in Argentina
Marriott International | July 11, 2019
Marriott International, Inc. (NASDAQ: MAR) has signed an agreement with GNV Group to bring its iconic W Hotels Worldwide brand to Argentina for the first time in dynamic Buenos Aires, underscoring growing demand from developers and consumers alike for W Hotels’ bold design, signature Whatever/Whenever® service and innovative programming. The hotel – expected to open in 2024 – and its planned residences will be located within a $100 million, 34-story, mixed-use tower poised to rise in the heart of the captivating Puerto Madero neighborhood, the ideal location for the brand’s passion for what’s new/next. “We are thrilled to be w...
Accor Plans Two New Raffles in Bali and Singapore
Raffles | July 11, 2019
Singapore, July 11, 2019 – Since acquiring the legendary Raffles brand in 2016, Accor has announced plans to almost double the iconic collection, with recent openings including Raffles Maldives Meradhoo and Raffles Shenzhen, as well as upcoming projects including Raffles Udaipur and Raffles Jaipur. The illustrious brand is pleased to announce the addition of two new landmark projects to the pipeline with Raffles Bali set to open in 2020 and Raffles Sentosa Resort & Spa Singapore planned for 2022. With at least four hotels in the development pipeline, the Group will grow the brand by at least 50% in Asia, while planning further flagsh...
Mountain Shore Properties Selects Olympia Hotel Management as Operating Partner
Mountain Shore Properties | July 11, 2019
A Leader in US Hospitality Management Joins Forces with Hyatt’s Developer of the Year July 11, 2019. Portland, ME. Olympia Hotel Management (OHM) has announced a partnership with Mountain Shore Properties (MSP), a Charleston, South Carolina-based developer who was recently named Developer of the Year by Hyatt as part of Hyatt’s annual owner awards. Olympia won Hyatt’s Operating Excellence Award in 2016. MSP, which was recognized for its excellent construction quality, efficiency, and hotel development in strategic locations, has decided to focus exclusively on hotel development and has elected to partner with OHM, a leader in dist...
Radisson Blu Expands Cyprus Portfolio With New Serviced Apartments Signing in Larnaca
Radisson Blu | July 10, 2019
Brussels/Larnaca - July 10, 2019 -- Radisson Hotel Group is delighted to announce the signing of the first branded serviced apartments in Cyprus with the Radisson Blu Serviced Apartments, Larnaca; its third property in the city. The new serviced apartments – signed as part of a Master Development Agreement with Sunnyseeker Hotels and Quality Group – will reinforce the group’s leading position as the largest operator on the island, with four properties and more than 550 rooms in operation or under development. The third-largest island in the Mediterranean, Cyprus is a major year-round destination for tourists and business travelers. ...
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