Marriott Increases Its Dividend
The DJIA fell 119 points on Friday, while Nasdaq was up less than a point, the S&P 500 fell 4 points and the 10-year treasury yield was basically flat at 4.38%. Lodging stocks were mixed on the day.
Marriott International announced that its Board of Directors increased its quarterly dividend by 6.3% to $0.67 per share.
Hilton announced the unveiling of Beach House Fort Lauderdale, a Hilton Resort, marking the transformation of the former Hilton Fort Lauderdale Beach Resort. Following extensive renovations, the re-imagined resort boasts 375 redesigned suites; a fully transformed entrance and lobby; two new culinary venues; Q Spa; and 3,410 redesigned meeting space. This spring, Beach House Fort Lauderdale will introduce seamless beach service for hotel guests.
A-1 Hospitality Group is breaking ground on its five-story AC Hotel by Marriott at the Three Rivers Convention Center, in Kennewick, Washington, on May 20. The now-$47 million, 162-room hotel will be built in tandem with a $71.3 million convention center expansion that began in April. A restaurant will top the hotel and the property will physically connect to the meeting center.
The new owner of the vacant Carson Tahoe Hotel, formerly the City Center Motel, plans to remake the four-story lodging property into a City Express by Marriott. According to the Appeal, Capitol City Hotel NV LLC started demolition. The renovation could take more than a year as it includes asbestos removal for the 89 rooms and the lobby, new flooring, paint inside and out and new furniture. The hotel has been inactive since February 2022.
The Grand Bohemian Lodge Asheville, Autograph Collection reopened on Thursday for the first time since Hurricane Helene hit on September 27, 2024.
Four Seasons Hotel Philadelphia at Comcast Center announced the upcoming debut of its new Sky Garden floor, set to open in December 2025. Located on the hotel's 45th level, the Sky Garden floor will feature a mix of accommodations including standard guestrooms, one- and two-bedroom suites, and a penthouse. Guests of the Sky Garden floor will have access to a selection of unique experiences and amenities, including in-suite services, access to local sports, art and entertainment events, and collaborations with leading names in fashion, wellness, and design. Furthermore, guests will enjoy personalized services, including access to the floor's spa treatment rooms, and a range of custom offerings. Reservations for the Sky Garden floor will open in late summer.
Great Wolf Resorts celebrated the grand opening of the new Great Wolf Lodge Mashantucket, adjacent to Foxwoods Resort Casino in Connecticut. The 549-room Great Wolf Lodge Mashantucket is the brand's 23rd property in North America and features an expansive 92,000 square foot indoor water park, a 61,000 square foot adventure park, and a collection of eateries and retail offerings. Funds affiliated with Blackstone Real Estate and Centerbridge Partners invested more than $300 million to make Great Wolf Lodge Mashantucket a possibility.
The new 77-room boutique hotel that is taking shape in Rancho Santa Fe, California, now has a name. Currently under construction, the new "Guesthouse, Hotel at La Valle" is set to open this summer on the La Valle Coastal Clubproperty. Since taking over ownership of the former Morgan Run Resort and Clubin 2023, Meriwether Properties has plans to invest a total of $35 million into the La Valle Coastal Club's renovations. The old hotel building was taken down to the studs for the $15 million renovation. On the golf course, 18 of the 27 holes have been completely redone. Renovations of the main clubhouse will begin this summer, including upgrades of the entry, event and restaurant spaces. Guesthouse's new website went live this week and the first reservations at the hotel are set for June 17.
In Fox Harbour, NS, Fox Harb'r Resort celebrated the official opening of its new Ocean Course, marking a significant moment for Canadian golf and Atlantic Canada's tourism economy. The new course is part of a broader multi-million dollar transformation at Fox Harb'r Resort, which includes the launch of a new Spa & Wellness Centre this spring and ongoing enhancements across the 1,400-acre property. This year marks the 25th anniversary of Fox Harb'r Resort, a landmark destination on Nova Scotia's Northumberland Shore.
Germain Hotels announced the successful completion of a new $160 million investment round, led by CDPQ with participation from the Fonds de Solidarite FTQ and Investissement Québec. This investment will enable the company to accelerate its development across Canada and consolidate its network of properties. In light of this investment, Germain Hotels has also announced the merger of Groupe Germain Inc. and Alt Canada Investment Corporation SEC into a single entity, now operating as Germain Hotels. This strategic alliance aims to simplify the organizational structure and support the next phase of the company's growth.
Europe Highlights
Marriott International, Inc. has signed an agreement with VERKEHRSBUERO HOSPITALITY to open five properties in Austria across its Tribute Portfolio, AC Hotels, and Four Points Flex by Sheraton brands. The signed projects are expected to further enhance Marriott's footprint in the country with the addition of more than 1,100 rooms. All five properties are expected to be converted from existing hotels operated by VERKEHRSBUERO HOSPITALITY under its Austria Trend Hotels brand. By Q3, Austria Tend Hotel beim Theresianum is expected to convert to the Four Points Flex by Sheraton Vienna Hauptbahnhof, and Austria Trend Hotel Salzburg Messe will transition into Four Points Flex by Sheraton Salzburg Messe. Austria Tend Hotel Anatol is expected to convert into Four Points Flex by Sheraton Vienna Mariahilf in 2026. Additionally, following extensive renovations, Austria Trend Hotel Ananas will transition into a dual-branded hotel, featuring both Four Points Flex by Sheraton Vienna Naschmarkt and AC Hotel by Marriott Vienna Naschmarkt. As part of the multi-deal agreement, the historic Parkhotel Schonbrunn will joint Marriott's Tribute Portfolio.
Hyatt Hotels Corporation, the Scalesciani family, and the David family, announced plans for Casa Duhau, a new-build luxury hotel with 52 villas and suites in Mendoza. As the only hotel in The Unbound Collection by Hyatt in Argentina, Casa Duhau will be part of Reserva Alto Agrelo, a new development project spanning nearly 1,000 acres that will also feature a premium winery and 116 luxurious residential lots for sale. Hotel construction is expected to begin by the end of 2025, with an anticipated opening date in late 2027. The hotel will feature two signature restaurants, a pool, fitness center, spa, modern meeting rooms, a lagoon, curated wellness experiences, thoughtful programming and more.
Rosewood Hotels & Resorts has opened its latest property in Amsterdam, marking the brand's debut in the Netherlands. Housed in the former Palace of Justice and following a decade of restoration, the Rosewood Amsterdam features 134 guestrooms, including five houses and multiple food and beverage venues. The Asaya Spa features a pool, sauna, steam room and five treatment rooms, as well as a fitness center and Pilates studio.
II Bottaccio, Relais & Chateaux has been invited to join Internova Travel Group's SELECT Hotels & Resorts by Internova program, an exclusive collection of more than 1,700 luxury properties around the world. II Bottaccio Art Hotel features eight spacious suites, a full-service restaurant, II Bottaccio Lounge Bar, a seasonal indoor pool, a beautiful garden and Otzium Wellness.
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Greg Kidd to Acquire Controlling Interest in Know Labs and Introduce Bitcoin Treasury Strategy
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Given a market capitalization of $128 million, the implied entry mNAV multiple is equivalent to 1.22x and the Bitcoin holdings represent 82% of the market capitalization (assuming a price of $105,000 per Bitcoin) at closing. Founder Ron Erickson will serve as President of a new division that will retain a team of scientists to continue the Company's proprietary diagnostic research. Upon the closing of the transaction, Mr. Erickson will become Vice Chairman of the Board. "Partnering with Greg Kidd marks a pivotal next chapter for Know Labs," said Mr. Erickson. "We look forward to continuing our research in non-invasive medical technology. Greg's visionary leadership positions Know Labs for a bold future." The transaction, which was unanimously approved by the Know Labs Board of Directors, is expected to close in the third quarter of 2025, following the receipt of shareholder approval and the satisfaction of customary closing conditions. Advisors Cohen & Company Capital Markets ("CCM"), a division of J.V.B. Financial Group, LLC is serving as exclusive financial advisor and Lowenstein Sandler LLP is acting as legal advisor to the Buyer. Sichenzia Ross Ference Carmel LLP is acting as legal advisor to the Company. About Greg Kidd Greg Kidd is co-founder and CEO of Hard Yaka, a venture capital firm, and the majority shareholder of OCC-chartered Vast Bank. As an investor, Greg provided first money at Twitter, Square (Block), Coinbase, Robinhood, and Solana. Other early investments include Ripple, Uphold, and Brave. After working at consulting firm Booz Allen Hamilton, he took his first company public on the NASDAQ in the 1990s. He later served in the payments division of the Federal Reserve and as a director at Promontory Financial Group. Greg also served as Chief Risk Officer at Ripple. Greg graduated from Brown University and earned an MBA from Yale University and an MPA in public policy from Harvard's Kennedy School. 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INVESTORS AND SECURITY HOLDERS OF KNOW LABS ARE URGED TO READ THE PROXY STATEMENT, INCLUDING THE DOCUMENTS INCORPORATED BY REFERENCE INTO THE PROXY STATEMENT, AND OTHER DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of these documents, when available, and other documents filed with the SEC by the Company through the website maintained by the SEC at Copies of the documents filed with the SEC by the Company will be available free of charge on the Company's internet website at or by contacting the Company's primary investor relations contact by email at ask@ or by phone at (206) 903-1351. Participants in Solicitation Know Labs, its respective directors and certain of its respective executive officers, Buyer and Mr. Kidd may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of Know Labs, their ownership of its common stock, and transactions with related persons is set forth in its Annual Report on Form 10-K for the fiscal year ended September 30, 2024, which was filed with the SEC on November 14, 2024 (and which is available at in its proxy statement on Schedule 14A for its 2024 Annual Meeting of Stockholders in the sections entitled "Corporate Governance," "Security Ownership of Certain Beneficial Owners and Management" and "Certain Relationships and Related Party Transactions", which was filed with the SEC on August 12, 2024 (and which is available at certain of its Quarterly Reports on Form 10-Q and certain of its Current Reports on Form 8-K. These documents can be obtained free of charge from the sources indicated above. Additional information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. No Offer or Solicitation This communication is for informational purposes only and is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. 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Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of Bitcoin and any associated unrealized gains or losses on digital assets that the Company may incur as a result of a decrease in the market price of Bitcoin below the value at which the Company's Bitcoin are carried on its balance sheet; (ii) the effect of and uncertainties related to the ongoing volatility in interest rates; (iii) the Company's ability to achieve and maintain profitability in the future; (iv) the timing to consummate the proposed transaction, (v) the risk that a condition of closing of the proposed transaction may not be satisfied or that the closing of the proposed transaction might otherwise not occur; (vi) the impact of the regulatory environment on the Company's business and complexities with compliance related to such environment including changes in securities laws or other laws or regulations; (vii) changes in the accounting treatment relating to the Company's Bitcoin holdings; (viii) the Company's ability to respond to general economic conditions; (ix) the Company's ability to manage its growth effectively and its expectations regarding the development and expansion of its business; (x) the Company's ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and (xi) other risks and uncertainties more fully detailed in the section captioned "Risk Factors" in the Company's most recent Annual Report on Form 10-K for the fiscal year ended September 30, 2024, Forms 10-Q and 8-K, and other reports filed with the SEC from time to time. 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