Rosewood Shanghai to Break Ground in 2022
Rosewood Hotels & Resorts | July 30, 2020
Radisson Hotel Group Signs With Silver Beach Hotel for First Beach Resort in Dubai
Radisson | March 24, 2020
Finance & Development
Key Management Group Rebrands As “Key Hotels & Resorts” With Four Luxury Properties in the Dutch Caribbean
Key Hotels & Resorts | June 17, 2020
Hilversum, Noord-Holland (Amsterdam), The Netherlands, June 17, 2020 - A leading international hotel management company with offices in The Netherlands and the United States, Key Management Group LLC, announces it has rebranded as Key Hotels & Resorts. The company also announced that one of Aruba’s most prominent resorts, La Cabana Beach Resort & Casino Aruba, an award-winning four-star property located on Eagle Beach, has joined Key’s portfolio of top resorts in the Dutch-Caribbean. Key Hotels & Resorts specializes in offering hotel development, management, marketing and culinary solutions for independent, branded, bou...
Wyndham Hotels & Resorts Elevates Presence in Japan, Introduces Wyndham Grand and Wyndham Garden Brands
Wyndham Hotels & Resorts | June 17, 2020
PARSIPPANY, N.J. (June 17, 2020) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,300 hotels across 90 countries, today announced the continued expansion of its portfolio in Japan, converting two hotels to its Wyndham Grand® and Wyndham Garden® brands: the 60-room, all suite, Wyndham Grand Awashima and 95-room, all suite, Wyndham Garden Nagaizumi. Both hotels, which have recently undergone upgrades, mark the debut of their brands in the country and make Wyndham the first global hotel company to expand into the emerging destinations of Awashima and Nagaizumi. They also further eleva...
Swiss-Belhotel International Signs MOU for New Resort in Mui Ne, Vietnam
June 16, 2020
Swiss-Belhotel International, one of the world’s fastest-growing hotel management groups, is continuing to expand its comprehensive footprint in South East Asia with new development in the exotic beach destination of Mui Ne, Vietnam. Swiss-Belhotel International remains confident in the exciting tourism market of Vietnam which they have been involved in since 1994. Mr. Edward J. L. Faull, Swiss-Belhotel Senior Vice President Operations and Development – Vietnam and Thailand, said Vietnam’s economic elasticity has always been strong and its ability to bounce back after a crisis is impressive, post-COVID will be no different. Partne...
Cambria Hotels Awards New Franchise Agreements, Expands With New Groundbreakings
Cambria Hotels | June 16, 2020
ROCKVILLE, Md., June 16, 2020 - Cambria Hotels, an upscale brand franchised by Choice Hotels International, Inc. (NYSE: CHH), continues its impressive year of growth having recently surpassed 50 open hotels. Cambria has signed several franchise agreements since the beginning of the year, adding to its robust pipeline in major markets such as Jacksonville and Tampa, Florida; Nashville, Tennessee; and Atlanta, Georgia. The brand also broke ground on three new hotels in Austin, Texas; downtown Minneapolis; and Somerville, Massachusetts, which join 26 other Cambriahotels currently under construction. Choice continues to demonstrate its commitment...
IHG Partners With BEKL for New-Build voco South Melbourne
IHG | June 4, 2020
IHG’s colourful voco™ brand continues to make a splash in Australasia with the seventh hotel, voco South Melbourne, added to the pipeline. Scheduled to open in early 2023 in partnership with forward-thinking Melbourne-based developers, BEKL, the new-build voco South Melbourne will be a different way to stay at the northern end of St Kilda Road, where accommodation options are currently limited to serviced apartments. Experienced hotel architect and interior designer, Plus Architecture, will design the 171 rooms focusing on the ‘Me Time’ concept, where guests can look forward to a great night’s sleep with premium beds, innovati...
Europe’s Hotel Construction Pipeline Continues to Expand in the First Quarter of 2020 Despite COVID-19 Pandemic*
Lodging Econometric(LE) | June 4, 2020
June 4, 2020 – PORTSMOUTH, NH - Analysts at Lodging Econometrics (LE) report that at the close of the first quarter of 2020, Europe’s hotel construction pipeline expanded to near-record highs with 1,840 projects and 294,047 rooms, a 10% increase in projects and a 15% increase in rooms, year-over-year (YOY). Projects under construction stand at 878 projects, with an all-time high of 142,185 rooms; while projects scheduled to start construction in the next 12 months stand at 522 projects with a record-high 82,229 rooms. Projects in the early planning stage have 440 projects/69,633 rooms; up significantly at 27% and 44% respectively, YOY....
Optimism Versus Reality
H. Keith Thompson | June 1, 2020
By H. Keith Thompson I am, by my very nature, an optimist. I don’t think you can be a hotel broker and not be an optimist. Optimism is welcomed, wonderful, and useful, but there must be some reality woven in. Today there are 40+ million people unemployed in the US, and it is expected that the May 2020 unemployment rate will be 20+/-%. For the hospitality industry, COVID has caused performance to plummet to levels never seen before. While I am happy to see public companies rebounding in stock value, a close friend of mine asked me what I believe could be the best question. Why? With hotels especially, as well as office, multifamily,...
Dream Hotel Group Signs With Beaty Capital for Dream Cleveland
Dream Hotels | May 27, 2020
NEW YORK, NY (May 27, 2020) – Celebrated hotel and brand management company Dream Hotel Group today announced plans to debut its flagship lifestyle brand Dream Hotels in the Rock and Roll Capital of the World, Cleveland, Ohio. Set to open in 2022, Dream Cleveland is part of a larger development housed within the city’s historic Masonic Temple and situated atop the new TempleLive music venue on Euclid Avenue. When complete, the project will feature a 207-room lifestyle hotel with chic and stylish, well-appointed guest rooms and suites and multiple dining and nightlife venues, as well as a fitness center, 100,000 square feet of meeting and...
Heritage Hospitality Selects HVMG to Manage Residence Inn by Marriott Waco/South in Texas
Hospitality Ventures Management Group | May 26, 2020
WACO, Texas, (May 26, 2020)—Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today announced it was awarded management of the currently under-construction, 104-room Residence Inn by Marriott Waco/South in Texas. Owned by Heritage Hospitality Group, a hospitality ownership/development/construction management company, the hotel is expected to open in mid-July 2020. “The Residence Inn by Marriott Waco/South marks our fifth hotel in Texas and our 20th Marriott-branded property,” said Robert Cole, president & CEO, HVMG. “Our familiarity with both the ma...
Radisson Blu Expands in the Caribbean With Signing of Radisson Blu Resort & Residences, Punta Cana in the Dominican Republic
Radisson Hotel Group | May 21, 2020
Minneapolis - May 21, 2020 - Radisson Hotel Group today announced the signing of Radisson Blu Resort & Residences, Punta Cana in the Dominican Republic. Located on the beautiful beach of Cabeza de Toro, the resort will be just ten minutes from downtown Punta Cana and the Punta Cana International Airport. The resort is also next to major attractions where guests can go swimming with dolphins at Dolphin Explorer or deep sea fishing with Club Nautico Cabeza de Toro. Prior to opening its doors as a Radisson Blu, the property is undergoing an extensive renovation to further enhance the guest experience with exceptional, state-of-the-art ameni...
Dream Hotel Group Signs Three New Locations in Tulum, Mexico
Dream Hotel Group | May 20, 2020
NEW YORK, NY (May 20, 2020) – Celebrated hotel and brand management company Dream Hotel Group announced today a new partnership with leading Tulum-based real estate development group Los Amigos to operate three new properties in Tulum, Mexico. All three projects will fall under the company’s new By Dream Hotel Group lifestyle brand. The three new locations – one beachfront hotel and two condo-hotels – will be branded as Central Park Lagunas by Dream Hotel Group Tulum, Central Park Rios by Dream Hotel Group Tulum and The Beach Club by Dream Hotel Group Tulum for a total of up to 217 rooms. Ownership group Los Amigos Tulum is cons...
Asia Pacific’s Hotel Construction Pipeline, Excluding China, Continues to Expand in the First Quarter of 2020*
Lodging Econometrics | May 20, 2020
May 20, 2020 – PORTSMOUTH, NH – According to the recent report from analysts at Lodging Econometrics (LE), Asia Pacific’s total construction pipeline, excluding China, expanded to 1,905 projects/404,903 rooms, up 6% and 5% respectively, year-over-year (YOY). The region currently has 977 projects under construction with 222,497 rooms. There are 409 projects with 79,610 rooms scheduled to start construction in the next 12 months, and a record-high 519 projects/102,796 rooms in the early planning stage. In addition, during the first quarter of 2020, the Asia Pacific region excluding China saw 83 new hotels accounting for 15,263 rooms ...
China’s Hotel Construction Pipeline Hits All-Time High in the First Quarter of 2020 Despite COVID-19 Pandemic*
Lodging Econometrics | May 19, 2020
May 19, 2020 – PORTSMOUTH, NH - Analysts at Lodging Econometrics (LE) report that despite the COVID-19 outbreak, China's total construction pipeline continues to expand to an all-time high of 3,533 projects/645,764 rooms, up 24% by projects and 9% by rooms year-over-year (YOY). China has 2,330 projects/412,142 rooms presently under construction. Projects under construction remain near record-highs at the end of the first quarter even though many projects are delayed two to four months. Projects scheduled to start construction in the next 12 months experienced an enormous increase of 92% by projects and 45% by rooms YOY, to stand at a re...
Post-COVID Brokers Opinion of Value
Avison Young | May 14, 2020
ATLANTA – May 14, 2020 – Avison Young Hospitality Group presents a new Post-COVID Brokers Opinion of Value Format. The hospitality industry has been shaken to its core over last several months by the Covid-19 pandemic and the global economic shutdown the virus has left in its wake. Markets across the country and the world have seen business grind to a halt, with hoteliers in every corner of the globe feeling immense economic pressure from the drastic loss in business. We at Avison Young understand the hotel owner’s need for a property specific presentation they can use for their partners, investors and lenders that demonstrates vi...
Hard Rock International (HRI) Acquires Full Intellectual Property Rights to Hard Rock Hotel & Casino® in Las Vegas in Deal With Juniper Capital
Hard Rock | May 13, 2020
HOLLYWOOD, Fla., May 13, 2020 - Hard Rock International (HRI) announced today that the world-renowned entertainment and hospitality brand has purchased all rights to the Hard Rock® brand and related trademarks in Las Vegas from Houston-based private equity firm, Juniper Capital, which purchased the Hard Rock Hotel & Casino® Las Vegas in 2018 from Brookfield Asset Management. The transaction allows HRI exclusive full rights to memorabilia, signage and merchandise, along with intellectual property rights for affiliated restaurant and entertainment trademarks and website domain names. Effective immediately, HRI and its affiliates will no...
Latin America’s Hotel Construction Pipeline Remains Sluggish at the Close of the First Quarter of 2020*
Lodging Econometrics | May 13, 2020
May 13, 2020 – PORTSMOUTH, NH - In the recent Latin America Hotel Construction Pipeline Trend Report, analysts at Lodging Econometrics (LE) state that the total construction pipeline stands at 702 projects/124,050 rooms, down 2% by projects and up less than 1% by rooms, year-over-year (YOY). Projects presently under construction stand at 324 projects/57,193 rooms. Projects scheduled to start construction in the next 12 months stand at 203 projects/39,487 rooms and those in the early planning stage are at 175 projects/27,370 rooms. In the first quarter of 2020, 22 new hotels/3,825 rooms opened throughout Latin America, while new proje...
From Density to Distancing
H. Keith Thompson | May 12, 2020
By H. Keith Thompson, Principal Avison Young Hospitality Group Ten short weeks ago, business was about packing in as much density with as many people as possible. From hotels, conventions, sports venues, air travel, resorts, retail, and office buildings - down to going to a Costco. Now, ten weeks later, it is all about staying separate and distancing yourself from other people. How can this be possible? Because COVID-19 (‘CV”) has caused a shift in the paradigm of personal life and commercial life that no one saw coming. Ten weeks in, we now judge every face-to-face interaction differently than we used to. Behind closed doors, al...
Crescent Hotels & Resorts Adds Hyatt Place/Hyatt House Dual Property in East Moline
Crescent Hotels & Resorts | May 12, 2020
East Moline, IL (May 12, 2020) – The Hyatt Place East Moline/Quad Cities and the Hyatt House East Moline/Quad Cities are now being managed by Crescent Hotels & Resorts. Crescent, based in Fairfax, Virginia is a nationally recognized operator of major hotels and resorts throughout the United States and Canada. The 233-room dual-branded hotel, offers free parking for guests, a free shuttle, and is minutes from the Tax Slayer Center, John Deere Harvester Works, Deere & Company World Headquarters and the John Deere Pavilion. Many guest rooms feature Mississippi River views, and with riverfront access, guests can hike, bike or stroll ...
IHG Signs Crowne Plaza Hotel in Historic Lucknow India
IHG® | May 11, 2020
InterContinental Hotels Group® (IHG), one of world’s leading hotel companies, has signed a Management Agreement to bring the Crowne Plaza brand to the historic city of Lucknow, in northern India. Sudeep Jain, Managing Director, South West Asia, IHG commented: “Lucknow is emerging as a key destination for both corporate and leisure travellers with its excellent transport connections and an expanding business and tourism landscape. Crowne Plaza Hotels and Resorts is one of IHG’s most established brands in India and is an excellent fit for the market. The brand offers a combination of empowered service, always-on connectivity, innovative...
The Real Effect of COVID-19
H. Keith Thompson | May 7, 2020
Public interviews versus private interviews By H. Keith Thompson, Principal Avison Young Hospitality Group Publicly accessible interviews seldom tell the real story. The real story is only garnered through private conversations that are kept confidential. The reason is simple; no CEO wants to discuss publicly the real time performance, cash position, losses and contingency plans inherent in their company’s strategy. They have peers, competitors, investors and lenders who simply do not want this level of confidential information available for public consumption. Their public message is one of hope and optimism, but more times than not ...
MGM Resorts International Reports First Quarter Financial and Operating Results
MGM Resorts International | May 5, 2020
The health and safety of our employees, guests, and communities are our top priority The Company has proactively reduced its cash outflows to $270 million per month during closures, excluding MGM China and MGP, and is well-positioned given its strong liquidity and recent $750 million senior notes offering Sports Betting, Japan and Macau remain priority long-term strategic initiatives LAS VEGAS, May 5, 2020 -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter ended March 31, 2020. "The year started strong with results ahead of expectations, however the ...
Wyndham Hotels & Resorts Reports First Quarter 2020 Results
Wyndham Hotels & Resorts | May 5, 2020
Company Completes Amendment to Credit Facility Waiving Covenant Testing until Second Quarter of 2021 PARSIPPANY, N.J., May 5, 2020 -- Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2020. Highlights include: Diluted earnings per share increased 5% to $0.23, and adjusted diluted EPS decreased 4% to $0.50. Net income was $22 million for the first quarter, a 5% increase over the prior-year quarter; adjusted net income was $47 million, an 8% decrease over the prior-year quarter. Adjusted EBITDA decreased 4% compared with the prior-year quarter, to $107 million. System-wide roo...
Marriott, Hilton, and IHG Account for 69% of the Projects in the U.S. Hotel Construction Pipeline at the Close of the First Quarter of 2020*
Lodging Econometrics | May 4, 2020
May 4, 2020 – PORTSMOUTH, NH – According to the United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest construction pipelines at the end of the first quarter of 2020 are Marriott International with 1,556 projects/204,244 rooms, followed by Hilton Worldwide with 1,413 projects/161,743 rooms, and InterContinental Hotels Group (IHG) with 954 projects/97,547 rooms. Combined, the brands of these three franchise companies comprise 69% of the projects in the total U.S. pipeline. The leading brands by project count for these three companies continue to be Hilton’s Home2 Suite...
Dunn Hospitality to Develop Courtyard by Marriott Within $60 Million Mixed-Use Development Near Indianapolis
Thompson Thrift Real Estate Company | April 27, 2020
INDIANAPOLIS, April 27, 2020 - Thompson Thrift Retail Group (TTRG), a wholly owned company of Thompson Thrift, announced today that it has closed on the sale of the hotel pad at The Stations, a $60-million mixed-use development in the Indianapolis suburb of Fishers, Ind. The buyer, Indiana-based Dunn Hospitality, will spend $20 million to build a 145-room Courtyard by Marriott that it plans to open in the latter half of 2021. The Courtyard will feature meeting space, expansive fitness facilities, an indoor pool, room service and a bistro bar offering sit-down meals throughout the day. The new hotel is expected to accommodate the expandin...
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