11 hours ago
Exclusive Resorts Takes Controlling Interest in Onefinestay
The DJIA rose 507 points, the Nasdaq was up 282, the S&P 500 rose 67 points, the 10-year treasury yield was down .03 and lodging stocks were mostly higher. The biggest mover on the day was SOND, up 6%.
Buffalo Lodging Associates, LLC, announced the completion of an extensive renovation at the four-story, 99-suite Homewood Suites by Hilton Orlando - UCF Area. The property boasts a new exterior paint scheme, a refreshed lobby and public spaces, upgraded suites, a fitness center, an outdoor pool, and a patio firepit.
Hospitality America announced the opening of Hotel Avail Rogers, Tapestry Collection by Hilton, marking the brand's debut in Rogers, Arkansas. Developed by Windsor Aughtry, the newly constructed 168-room property features two dining concepts from Indigo Road and more than 8,000 square feet of flexible meeting and event space.
IHG Hotels & Resorts announced the opening of an EVEN Hotel in Portland, Oregon. The 90-room, newly built property features 678 square feet of meeting space, an athletic studio, and the EVEN Kitchen & Bar. EVEN Hotel Portland - Beaverton is owned by Timberland Hotel Ventures & Holding and managed by MKM Hotel Group.
IHG Hotels & Resorts also announced the opening of Candlewood Suites in Coralville, Iowa. The newly built 68-room property features a business center, laundry facilities, and a gym. Candlewood Suites Coralville - Iowa City is owned by Westcor JD Royal LLC and managed by SOHO Property Management & Consulting.
Extended Stay America announced the opening of the Extended Stay America Suites - Tampa - Casino Area, located in Tampa, Florida. Its affiliate ESH Hospitality, Inc., through its subsidiaries, developed and will operate the hotel. The hotel will be managed by another affiliate, ESA Management, LLC. The four-story, 122-room newly constructed hotel features a fitness room and an onsite guest laundry.
Casetta Hotels has reopened the Hotel Marina Riviera in Big Bear Lake, California, following a comprehensive renovation. The lodge offers 42 guestrooms, a pizzeria, a year-round heated pool, a cold plunge, a hot tub, and a barrel sauna. A private beach club will soon join the mix.
Ellicott Development is planning some major upgrades for the Wingate hotel in Ellicottville, New York, and will shift to an independent hotel brand called Huntley House Hotel. According to the Buffalo News, the project calls for an updated lobby with a new fireplace, an upscale coffee area, a self-serve alcohol tap station, and a high-end a la carte breakfast. The higher-end amenities will continue into the guestrooms, where 13 suites will have statement fireplaces installed. Also in the works are an expansive deck, a year-round heated mineral pool, infrared saunas, and firepits. The hotel will remain open during construction. The total price tag for the renovation is $2.4 million.
The York Beach Surf Club appears poised to remain in the Perkins family, at least for now, after an LLC owned by Lynwood Perkins, Conservation Overlook LLC, placed the winning $6.85 million bid on the hotel at a foreclosure auction. The hotel features 42 guestrooms, 10 bungalows, a heated saltwater pool and pool bar.
The University of Waterloo is proposing a nine-story hotel with 216 rooms, conference space, and a banquet facility in its research and technology park. The Hyatt-branded hotel is slated for a vacant, school-owned lot on the north campus. The university is partnering on the hotel with the Kothari Group. The conference center and banquet hall would be in a one-story building connected to the hotel. Along with two patios and other outdoor space, the hotel would include a bar and café, a lounge room, a sunroom, an in-ground pool, and a fitness center.
Antonio and Albano Seabra have plans for a 153-room, eight-story hotel at 114-126 Monroe Street in Newark, NJ, up from their original plan for a six-story building with 96 rooms. The decision to expand the project came from the Pestana Hotel Group. The city's Zoning Board approved the plans.
HREC Investment Advisors arranged the sale of the 120-room WoodSpring Suites Spartanburg Duncan, located in Duncan, South Carolina. HREC Investment Advisors exclusively represented the seller, Greenville Valued Partners II LLC, on the transaction.
Hunter Hotel Advisors announced the sale of the 93-key Courtyard Dalton, located in Dalton, Georgia. Five Star Group purchased the property from an institutional seller. The property features an onsite fitness center, an indoor pool, and a full-service restaurant.
Personnel News
Stonebridge announced the appointment of Adam Snow as Executive Vice President, Chief Strategy Officer. In this new role, Snow will spearhead strategic development, encompassing brand alignment, corporate growth, and property-level strategy. He will focus on infusing strategy into every layer of the organization, from the corporate office to the on-property teams. Snow has held senior-level strategic positions with several companies over his career, including Aimbridge Hospitality.
Duetto announced a strategic leadership transition as the Company enters a new phase of growth and innovation. After six years of dedicated leadership, David Woolenberg has decided to step down as Chief Executive Officer. David will remain with Duetto during a transitional period to ensure continuity and support a seamless handover. Effective immediately, Alex Zoghlin has been appointed Chief Executive Officer. Alex, a current Duetto board member and most recently the CEO of ATPCO, brings deep expertise in scaling technology businesses across the travel and hospitality sectors.
Overseas Highlights
Westin Hotels & Resorts, in partnership with Rede Deville, announced the opening of The Westin Sao Paulo, marking the brand's entry into the Brazilian capital. The hotel boasts 187 guestrooms and suites, the Westin WORKOUT Fitness Studio, an outdoor pool with a sun deck, two bars, a signature restaurant, and versatile meeting and event spaces. The property is owned and managed by Rede Deville.
Europe Highlights
Mandarin Oriental announced it will manage and rebrand the San Clemente Palace Hotel in Venice, Italy. Mandarin Oriental will operate the hotel until its seasonal closure in November 2025, when an extensive three-phase renovation will commence. It will be rebranded as Mandarin Oriental, Venice from April 2026. The re-imagined property will feature 136 rooms and suites, four distinctive dining venues, The Spa at Mandarin Oriental, a yoga pavilion, an outdoor pool, tennis and paddle courts, and expansive indoor and outdoor events spaces.
Capella Hotel and Resort will take its first steps in Europe in 2027, when Capella Florence, Italy opens in central Florence, Via San Gallo. Capella Florence has a total of 89 rooms in addition to 10 residences with independent entrances; multiple restaurants; a rooftop bar, an underground speak-easy wine bolt, and Capella's signature space, the Living Room. A separate building will have a 600-square-meter clubhouse. There will be a Capella spa, a hydro pool, a fitness center, a café and an indoor amphitheater.
Le Beauvallon will shift from a private events venue to a classic hotel. The news also marks the first part of a significant two-phase development for Le Beauvallon in collaboration with COMO Hotels & Resorts. COMO Le Beauvallon will open in 2026 as a key milestone for the brand. Marking a vibrant new chapter, the hotel's iconic beach club unveils a bold and original culinary concept for summer 2025. For next year, COMO Le Beauvallon will launch new culinary concepts.
Exclusive Resorts reached a strategic agreement with Accor to take a significant minority stake in the French hotel giant's OneFineStay luxury vacation rental brand, according to Skift. Exclusive Resorts is launching a luxury villa rental business, which OneFineStay will anchor. Financial terms of the deal weren't disclosed. Exclusive Resorts operates a $1 billion portfolio of more than 400 private residences across 75 destinations that members of its paid membership club can rent for extended stays. For Exclusive Resorts, the partnership provides access to OneFineStay's established brand and operational expertise in markets where it may not have a strong presence. It also brings opportunities to cross-market across the two customer bases.
