hotel development
Pendry Hotels & Resorts Plans Spring 2021 Opening of Pendry Chicago
Pendry Hotels & Resorts | October 23, 2020
Pendry Chicago Will Reimagine the City's Historic Carbide & Carbon Building on Michigan Ave. ORANGE COUNTY, CALIF. (October 23, 2020) – Pendry Hotels & Resorts today announced its further U.S. expansion with Pendry Chicago. The renovation and refurbishment of the Art Deco Chicago landmark, the Carbide & Carbon Building, is currently underway and will bring Pendry Hotels & Resorts’ refined sense of modern-day luxury hospitality to Chicago beginning spring 2021. Pendry Chicago will be located in Chicago’s Loop neighborhood, amid a dynamic collection of cultural attractions, robust offices and corporate headquarters, and ...
Middle East Hotel Construction Pipeline Continues to Show Signs of Decline* at Close of Q2 2020
Lodging Econometrics (LE) | August 20, 2020
August 20, 2020 – PORTSMOUTH, NH – According to the latest published Construction Pipeline Trend Report for the Middle East, analysts at Lodging Econometrics (LE) state at the end of the second quarter of 2020, the hotel construction pipeline in the Middle East decelerated once again to 591 projects/169,538 rooms. The Middle East’s pipeline is down 7% by projects and 6% by rooms year-over-year (YOY). This is the fourth consecutive quarter the pipeline has declined since reaching its cyclical peak by projects in Q2 2019. However, projects currently under construction stand at an all-time high of 363 projects/117,458 rooms. Projects ...
Rosewood Shanghai to Break Ground in 2022
Rosewood Hotels & Resorts | July 30, 2020
Rosewood Hotels & Resorts® has been appointed by Shanghai-based property development company, Lonsen Land Group, to manage Rosewood Shanghai, a new hotel in mainland China set to break ground in 2022, with an expected opening in 2028. Ideally situated in the heart of Shanghai’s Jing’An District and Suhewan area, an emerging business and cultural hub, Rosewood Shanghai will offer travelers unparalleled access to the city. The announcement of Rosewood Shanghai underscores the brand’s careful, selective growth strategy in Asia and across the globe, as well as the strength of its impressive property pipeline, which is now the most rob...
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...
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...
Access Point Financial Provides $11M in Financing for Sheraton Chicago Northbrook Renovation
Access Point Financial | March 12, 2020
Recognized leader in hospitality-focused lending steps in to assist with the continued repositioning of the Sheraton brand with Chicago hotel update CHICAGO – March 12, 2020 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the completion of an agreement with a Chicago-based ownership group to provide $11 million in financing for the renovation of the Sheraton Chicago Northbrook Hotel. The Sheraton Chicago Northbrook Hotel opened in 2008, and is located in Northbrook, Illinois, a suburb of Chicago. The 161-room hotel selected Acce...
Hyatt, Terra Group and Turnberry Announce Plans for the First Grand Hyatt Hotel in Miami Beach Adjacent to the Newly Renovated Convention Center
Grand Hyatt | March 11, 2020
CHICAGO (March 11, 2020) - Hyatt Hotels Corporation (NYSE:H), Terra Group and Turnberry announced plans today for a new 800-room Grand Hyatt hotel in Miami Beach, Fla that will be managed by Hyatt. Slated to open in 2023, Grand Hyatt Miami Beach will offer elevated experiences for leisure and business travelers alike. Its prime location adjacent to the Miami Beach Convention Center, which completed a $600 million renovation last year, offers visitors convenient access to the city’s most anticipated tradeshows and events. The 17-story hotel will be situated at the intersection of 17th Street and Convention Center Drive, within walking d...
Hilton Expands Presence in Central America With Signing of Hilton Hotels & Resorts Property in El Salvador
Hilton | March 11, 2020
SAN SALVADOR, El Salvador and MCLEAN, Va. – March 11, 2020 - Hilton (NYSE: HLT) today announced the signing of an agreement to debut a Hilton Hotels & Resorts hotel in El Salvador. The 198-room Hilton San Salvador is scheduled to open in July 2020, representing a new country for Hilton’s growing portfolio of 160 hotels and resorts welcoming guests across the Caribbean and Latin America. Officially forming part of the World Trade Center Complex, Hilton San Salvador is owned and developed by Grupo Agrisal, and will welcome guests to the country’s capital, known for its black-sand beaches, surfing and vibrant nightlife. “Welcomin...
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Today's News
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Pendry Hotels & Resorts Plans Spring 2021 Opening of Pendry Chicago
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