Colebrook Financial Company Finalizes $12 Million Hypothecation Loan for InnSeason Resorts
Colebrook Financial Company | September 21, 2021
Paramount Lodging Advisors Successfully Transacts Godfrey Tampa
Paramount Lodging Advisors | August 17, 2021
Finance & Development
Oxford Capital Group and Hunter Pasteur to Break Ground on The Godfrey Hotel Detroit
Oxford Capital Group, LLC and Oxford Hotels & Resorts, LLC | September 27, 2021
DETROIT, MI — September 27, 2021 — Oxford Capital Group and Hunter Pasteur will break ground this week on The Godfrey Hotel Detroit in historic Corktown, bringing a 227-room, lifestyle brand hotel with first-class amenities, as well as hundreds of jobs, with many going to Detroit residents. The property, at 1401 Michigan Ave. between Trumbull and Eighth Street, is scheduled to open in 2023. Oxford’s wholly owned management affiliate, Oxford Hotels & Resorts, LLC, will manage the property. The 227-room, seven-story hotel will feature I|O, Detroit’s largest indoor/outdoor rooftop lounge with expansive views of downtown Detroit and...
IHG Hotels & Resorts and Long-Term Partner PT Hotel Dago Pakar Bringing Hotel Indigo to Bandung, Indonesia
IHG Hotels & Resorts | September 27, 2021
IHG Hotels & Resorts and PT Hotel Dago Pakar are proud to extend their partnership in Indonesia with a second hotel – Hotel Indigo Bandung Dago Pakar – following the success of InterContinental Bandung Dago Pakar. Scheduled to open in 2024, the 275-room Hotel Indigo Bandung Dago Pakar will be located in the prestigious Dago neighbourhood, in the northern region of Bandung. As with every Hotel Indigo property, it will draw on the story of its local area to inspire all aspects of its design, décor and service style. Every detail, from the warmth of the welcome guests receive to the dishes served in the restaurants, create a highl...
Knighthead Funding Provides $19 Million Loan for Full-Service Hotel in Dallas, TX.
Knighthead Funding LLC | September 27, 2021
Greenwich, CT — September 27, 2021 — Knighthead Funding LLC (“Knighthead”) has provided Napali Capital (the “Sponsor”) with a $19 million first mortgage loan for the acquisition of a 152-room full service hotel in Dallas, TX. The financing is secured by the Tru Hotel by Hilton, a full-service, 152-key property located at 1949 N. Stemmons Freeway in Dallas’ Design District. The property’s location makes it a desirable destination for both corporate and leisure travelers. It sits in close proximity to the Dallas Market Center, one of the world’s largest wholesale merchandise marts, as well as Trinity Groves, a 15-acre resta...
Condor Hospitality Trust Enters Agreement to Sell Hotels to Blackstone Real Estate
Condor Hospitality Trust, Inc. | September 23, 2021
NORFOLK, Neb. – September 23, 2021 – Condor Hospitality Trust, Inc. (NYSE American: CDOR) (the “Company”) announced today that it has entered into an agreement with affiliates of Blackstone Real Estate Partners to sell its entire portfolio of hotels in a $305 million transaction. This is an all cash transaction without the assumption of any existing debt. Completion of the transaction, which is expected to occur in the fourth quarter of 2021, is subject to customary closing conditions, including the approval of the Company’s shareholders. Bill Blackham C.E.O. stated " We believe that this is an extremely attractive transaction ...
Bedford Lodging Breaks Ground on The Hoffmann Hotel in Colorado’s Roaring Fork Valley
| September 22, 2021
DALLAS, TX — September 22, 2021 — Bedford Lodging has just broken ground on a 122-room property in Colorado’s Roaring Fork Valley, it was announced by Jeff Blackman, President. The Hoffmann Hotel, a Tapestry by Hilton Collection - Basalt is located in Carbondale, Colorado and is scheduled to open in January, 2023. It will be managed by Five Senses Hospitality Management. The Hoffmann Hotel will be located at 401 Tree Farm Drive in Carbondale, CO. The 4-story, 76,679-square-foot property being developed on a 1.8-acre site, will be part of a lager 42.9 acre mixed use development known as Tree Farm, a world-class lakeside community ...
Marriott Signs With Saxum Group to Develop Residence Inn by Marriott and Fairfield by Marriott in Costa Rica
Marriott International | September 21, 2021
SAN JOSE, COSTA RICA — September 21, 2021 — Marriott International, Inc. today announced it has signed an agreement with Saxum Group to develop the first Fairfield by Marriott and second Residence Inn by Marriott in Costa Rica, growing its portofolio to 17 hotels in this sought after market. The new properties will feature 125 and 117 rooms respectively. "We are proud to work with Saxum Group to bring the Fairfield by Marriott brand to Costa Rica and add the Residence Inn by Marriott to enhance the hospitality offering in the greater metropolitan area (GMA) of San Jose," said Pablo Botero, Marriott International's Senior Direct...
Sonder Holdings Inc. Grows Footprint in Mexico Adding Eight Properties
Sonder | September 21, 2021
SAN FRANCISCO, CA — September 21, 2021 — Sonder Holdings Inc. (“Sonder”), a leading next-generation hospitality company that is redefining the guest experience through technology and design, is adding eight additional properties to its existing portfolio of managed and operated accommodations in Mexico City. Concentrated primarily in the Condesa and Roma neighborhoods, two of the most dynamic and coveted areas of the city, these properties represent an expansion of over 600 units less than a year after Sonder first launched operations in Mexico City. “Mexico is one of the most visited countries in the world for tourism a...
Colebrook Financial Company Finalizes $12 Million Hypothecation Loan for InnSeason Resorts
Colebrook Financial Company | September 21, 2021
Middletown, CT – September 21, 2021 – Colebrook Financial Company, a leading lender to the timeshare and vacation club industries, closed a $12 million hypothecation loan for InnSeason Resorts, a brand that focuses on the true “Northeast Experience.” InnSeason has 50,000 members and six quality resorts in highly sought-after locations under their brand umbrella. This fall, their award-winning Riverwalk Resort will begin Phase II. The east coast company also acquires inventory in key vacation destinations to meet member travel demands. Dennis Ducharme, President and COO, and his partner Billy Curran, CEO, came together to ...
Access Point Financial Forms Strategic Alliance With Pike Hill Lodging Partners and Expands Executive Leadership Team
Access Point Financial | September 21, 2021
Expanded relationship streamlines availability of flexible and comprehensive financial services, with Pike Hill co-founders Tim Peterson and Ankur Shah also joining APF as Co-Heads of Capital Markets and Corporate Development. ATLANTA, GA – September 21, 2021 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the expansion of its platform via the forming of a strategic relationship with Pike Hill Lodging Partners (Pike Hill). The enhanced collaboration is notably set to provide industry professionals with access to the combined expert...
Six Senses Partners With Hotel Properties Limited (HPL) for Second Property in the Maldives
Six Senses Hotels Resorts & Spas | September 20, 2021
Six Senses to add second branded property in the Maldives – Kanuhura – on the private island hideaway of Lhaviyani Atoll BANGKOK – September 20, 2021 –Encompassing three private islands – two deserted neighboring islands and Kanuhura itself – this laid-back retreat is the epitome of white sands, turquoise lagoons, lush tropical greenery, and gently swaying palm trees to doze under. This second collaboration with Singapore-based Hotel Properties Limited (HPL) will adopt the Six Senses brand in late 2022 as a northerly sister to the popular Six Senses Laamu. Until then, it is available for bookings through www.kanuhura-mald...
Marriott Signs Agreement with Progetto Majestic S.R.L to Debut First W Hotel in Tuscany
W Hotels | September 20, 2021
Marriott International today announced it has signed an agreement with Progetto Majestic S.R.L. to bring the W Hotels Worldwide brand to the iconic Tuscan city of Florence. Expected to welcome its first guests in 2023, W Florence is set to become a buzzing centrepiece in the heart of the artistic city alongside the Ponte Vecchio riverfront and the Duomo. “Florence is famed for its passion for culture and style, and therefore a perfect destination for the W Hotels brand,” said Candice D’Cruz, Vice President – Luxury Brands, Europe, Middle East & Africa, Marriott International. “With its energetic spaces, bold design, i...
Accor Expands in Sub-Saharan Africa With Signing of Fairmont in Djibouti
Accor | September 20, 2021
The group signs deal to open its first luxury property in Djibouti in 2024 DUBAI, United Arab Emirates — September 20, 2021 — Accor, a world-leading augmented hospitality group with over 400 hotels across India, Middle East, Africa and Turkey, is adding a new flagship property to its portfolio in Africa with Fairmont Djibouti. Set to open in 2024, the hotel will feature 155 rooms and 10 serviced apartments, with five food and beverage outlets combined with 1,398 sqm of Meetings & Events facilities. Located in Djibouti City, the capital of Djibouti and one of the country’s most affluent areas, the property will be strat...
Meet Turnbull Capital Group at The Lodging Conference
Turnbull Capital Group | September 20, 2021
The Principals of Turnbull Capital Group are aligned with some of the most creative debt and preferred equity providers in the hospitality industry and have exclusively transacted hotels and resorts for 37 years, 20 years as the visionary and Founder of CBRE Hotels. The Lodging Conference Founder Mr. Morris Laskey (deceased) and Dr. Donald W. Wise were professional and personal friends for over 30 years. When The Lodging Conference launched with its first ever event in 1995 at the Phoenician Scottsdale Luxury Collection Resort, Dr. Wise was a speaker on the finance panel for this very first inaugural event. This has always been ...
Omni Hotels & Resorts Breaks Ground on Omni Tempe Hotel at ASU
Omni Hotels & Resorts | September 17, 2021
TEMPE, AZ – September 17, 2021 – Omni Hotels & Resorts announced today it broke ground on Omni Tempe Hotel at ASU, a 330-guest-room hotel, set to open in 2023, in the heart of downtown Tempe on the Arizona State University (ASU) campus. Peter Strebel, president of Omni Hotel & Resorts, broke ground alongside Tempe Mayor Corey Woods, as well as ASU President Michael Crow, Regent Bill Ridenour and John Creer, vice president of real estate at ASU, and other notable guests. The 16-story hotel, located at 7 East University Drive, will augment Tempe's revitalized downtown area, and bring some of the largest conference and m...
Historic Koi Nation Native American Tribe Plans Shiloh Resort & Casino in California Wine Country
| September 16, 2021
SANTA ROSA, CA - September 16, 2021 - The Koi Nation, one of the state's federally recognized Native American tribes, today announced it has selected a 68-acre site in unincorporated Sonoma County to re-establish its tribal land base. The Koi have filed plans to build a resort and casino on the site, exercising their sovereign rights under federal law. The property selection restores the Tribe's ability to exercise its rights to self-governance and will provide a base for economic development that will sustain the Koi Nation's independence within a few miles of its ancestral home. "The Koi Nation has had to struggle harder th...
Caesars Entertainment Unveils Official Renderings of Caesars Virginia – a $500 Million Resort to Be Built in Danville
Caesars Entertainment, Inc. | September 16, 2021
DANVILLE, VA - September 16, 2021 - Caesars Entertainment shared official renderings today for Caesars Virginia, its $500 million resort expected to break ground by the end of the year in Danville. Following incredible support by the voters of Danville last November, Caesars Entertainment has been hard at work developing plans for Caesars Virginia, which will include 500 hotel rooms, a state-of-the-art casino floor, Caesars Sportsbook, World Series of Poker Room, new restaurant and entertainment offerings, and much more. "Caesars Virginia will be an economic driver for the region, both as a tourist and entertainment draw an...
Deal-Making Activity in the Travel & Tourism Sector Declined by 17.4% During August 2021
GlobalData | September 15, 2021
A total of 57 deals (comprising mergers & acquisitions [M&A], private equity, and venture financing) were announced in the global travel and tourism sector during August 2021, which is a decline of 17.4% over 69 deals announced in July, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: August marks the second consecutive month of decline in deal activity for the travel and tourism sector after rebounding in June. The subdued deal activity could be attributed to dampened deal-making sentiments as uncertainty due to the COVID-19 pandemic still looms. All t...
Fairmont Hotels & Resorts Repositions the Iconic Century Plaza Hotel to Fairmont Century Plaza
Fairmont Century Plaza | September 14, 2021
LOS ANGELES – September 14, 2021 – Premiering on September 27, 2021, the completely reimagined Fairmont Century Plaza will build upon its legacy as a Los Angeles cultural landmark and haven for visionaries across art, film, music, politics, and business. The hotel pays tribute to its star-studded history while ushering in a new age of glamour, infusing cutting-edge amenities with pioneering guest experiences. Originally deemed “The Hotel of the Future,” famed architect Minoru Yamasaki’s mid-century modern icon returns as the centerpiece of a $2.5B mixed-use development project on 6.14 acres, which includes two 44-story towers wi...
Radisson Signs Three New Hotels Within Saudi Arabia’s Thakher Makkah Megaproject
Radisson Hotel Group | September 14, 2021
Makkah / Dubai / Brussels — September 14, 2021 — Radisson Hotel Group is proud to announce the signing of three hotels within the Thakher Makkah megaproject, an urban development in the city of Makkah, Saudi Arabia. Further strengthening its presence across two brands, the Park Inn by Radisson Makkah Thakher City Tower West, the Park Inn by Radisson Makkah Thakher City Tower East and the Radisson Hotel Makkah Thakher City are set to open in Q4 2022. The new signings will add a total of 992 rooms and apartments, doubling the Group’s portfolio in Makkah, a key target growth market in Saudi Arabia. Despite the challenges due to the pande...
Foley Entertainment Group Acquires Santa Barbara’s Hotel Californian
THE FOLEY ENTERTAINMENT GROUP | September 14, 2021
SANTA BARBARA, CA – September 14, 2021 – Lee & Associates, a leader in commercial real estate services throughout North America, announces one of the largest-ever sales of hotel property in Santa Barbara, the Hotel Californian located at the front door of the city’s booming Funk Zone has traded to one of businessman Bill Foley’s companies for an undisclosed figure. The deal, which closed September 1, was led by local Santa Barbara commercial real estate firms Radius Commercial Real Estate and Lee & Associates Central Coast, with Austin Herlihy and Chris Parker of Radius representing the seller, and Steve Leider and Cl...
It’s Time for Hotel Finance Teams to Re-Evaluate Their Budget ‘Drivers’
Jill Wilder | September 14, 2021
By Jill Wilder As we are all aware, budgeting for 2022 will present some challenges, without a crystal ball we are going to need to use our knowledge to form new ways to plan for our future. While historical drivers helped hoteliers in previous years with their future planning, it’s a whole new ballgame today, as the very way a hotel operates is radically different from even a year ago. As in the past, just comparing departmental profits from previous months is just one piece of the puzzle. To have better, more accurate budgeting numbers for the year ahead, hoteliers need to re-evaluate their drivers and establish a new baseline data set...
Microtel by Wyndham to Open 20 New Hotels in Greater China by the End of 2022
Microtel by Wyndham | September 13, 2021
SHANGHAI and SINGAPORE - September 13, 2021 - Wyndham Hotels & Resorts, the world's largest hotel franchising company and leading provider of hotel management services with approximately 9,000 hotels across nearly 95 countries, continues to expand its portfolio in China with 20 new Microtel by Wyndham hotels by the end of 2022, located in key cities and emerging destinations across the country. Designed to provide travelers with modern conveniences, Microtel by Wyndham made its debut in China in late 2019 as a midscale brand. The brand has since grown to a collection of six hotels, including locations in Hangzhou, Hefei, Guiyang, Kunmi...
Baird/STR Hotel Stock Index Dipped 3.4% in August
STR | September 13, 2021
HENDERSONVILLE, Tennessee, and MILWAUKEE — September 13, 2021 — The Baird/STR Hotel Stock Index dipped 3.4% in August to a level of 4,911. Year to date through the first eight months of 2021, the stock index was up 7.4%. “Hotel stocks continued their streak of relative underperformance in August as investors remained focused on the impact of the Delta variant and the likely changes to post-Labor Day business travel trends,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The near-term trajectory of the recovery has flattened; however, investors appear to have priced in near-term downside sce...
Hyatt and The Wharf Plan New Park Hyatt Hotel in Changsha
Park Hyatt | September 13, 2021
SHANGHAI / HONG KONG – September 13, 2021 – Hyatt and The Wharf (Holdings) Limited today announced plans for a new Park Hyatt hotel in Changsha, the capital of Hunan province, marking the luxury Park Hyatt brand’s entry into Central China. Situated within the iconic landmark Changsha IFS, the new luxury hotel is expected to offer global travelers refined, sophisticated and unparalleled experiences in Changsha. Slated to open in 2023, Park Hyatt Changsha will feature 230 guestrooms and offer world-class culinary and wellness experiences, as well as inspiring spaces for meetings and events. “We are delighted to work with Th...
1
Industry Happenings
2
Technology
3
Operations
4
All Things Independent
5
Market Reports
Today's News
HITEC 2021 – A Resounding Success
AHLA Statement on White House Travel Announcement
Brazil Hotels Recovering ADR Much Faster Than Occupancy
Europe and Asia Pacific Show Increased Hotel Pipeline Activity
As the first news aggregate for the hotel industry, Hotel-Online is the industry’s must-read daily news source for everything hotel curated for busy professionals. Sign up today for industry news delivered to your inbox.