Latest news with #CenturyDevelopmentGroup
Skift
11 hours ago
- Business
- Skift
Subdued Tone Among Hotel REITs at Nareit Conference
The DJIA was up 443 points while Nasdaq was up 232, the S&P 500 rose 61 points while the 10-year treasury yield was up .12 to 4.51%. Lodging stocks were higher. BHR was the mover of note, up 5%. The common opinion from those at the NAREIT conference was that the tone was more subdued than from the C-Corps, which was interesting considering uncertainty was the conclusion in describing the tone at NYU. The public hotel brands always seem more bullish, but the private companies, consultants, and other non-REIT executives were cautious. Truist said they think the subdued tone could be because of frustration with REIT stock prices, as insiders at the hotel REITs have been buyers of their stocks lately. It could also be the lackluster transaction market, interest rate volatility, and, once again, the general uncertainty. As far as business is concerned, none of them said business has taken a turn in the negative direction, but they also didn't say things are better than they look. Baird said their take is that the shorter booking window, calendar shift impacts, consumer pricing sensitivity, and general macro uncertainties are keeping management team outlooks and convictions held in check. They expect REITs to continue to be net sellers of assets and purchasers of their own stock. The Baird-STR Hotel Stock Index showed a rebound in hotel stocks in May, up 9.3% from April, the first month-to-month gain since January. Century Development Group announced that The Westin Flushing LaGuardia Airport officially opened its doors. The 13-story property was developed by Century Development Group and is in Queens, NY. The hotel features 148 king rooms, 79 double rooms, 14 queen rooms, and 5 suites. The expansive lobby includes a 16-foot ceiling, a lush biophilic living wall, while the property includes amenities like WestinWORKOUT Fitness Studio, Spa Features, over 6,000 square feet of meeting and event spaces, and the Blu Ember upscale New American restaurant. HHM Hotels announced the launch of the Courtyard by Marriott Philadelphia Downtown, which was recently renovated and rebranded. The property has a prime location near City Hall and the convention center, refreshed guestrooms, a renovated lobby bar and restaurant, plus flexible meeting and event spaces with city views. This is the only Courtyard in Center City. Opal Hospitality announced the opening of Hotel Railwayparc Montreal, Tapestry Collection by Hilton. The 73-room boutique hotel was developed by Sergakis Holdings. Key amenities include a lobby restaurant and bar, a hidden speakeasy bar, a fitness center, and flexible meeting rooms. IHG Hotels & Resorts is gearing up to open a variety of new hotels and resorts this summer in locations across the globe - from the US to Japan to Australia. New/upcoming hotels in the Americas include: voco Laguna Hills, now open in Laguna Beach, California; Real InterContinental Lima Miraflores, opening June 2025 in Peru; Atwell Suites Corpus Christi, opening July 2025 in Texas. In Europe, The Chania Hotel Crete, Vignette Collection is now open in Chania, Greece; The Holiday Inn Resort Szklarska Poreba Happy Valley is opening in September 2025 in Poland; opening H2 2025 is the voco Antalya Konyaali in Turkey; and the Crowne Plaza Dushanbe is opening H2 2025 in Tajikistan. IMEA openings include the Kimpton KAFD Riyadh, opening in June 2025 in Saudi Arabia; InterContinental The Red Sea Resort, opening in H2 2025 in Saudi Arabia; and Ciel Dubai Marina, Vignette Collection opening in H2 2025 in the UAE. The ANA Holiday Inn Tokyo Bay and the ANA Crowne Plaza Resort Uruma Hills are both now open in Japan. In Southeast Asia, voco Bandung Setiabudi is opening in July 2025 in Indonesia; InterContinental Halong Bay Resort is opening in Summer 2025 in Vietnam; and the Crowne Plaza Bangkok Rama 9 is opening in Q3 2025 in Thailand. Hotels opening in Australia include the Hotel Indigo Melbourne Little Collins & Holiday Inn Melbourne Bourke Street Mall opening Q3 2025, marking IHG's first Australian dual-branded hotel; and the Crowne Plaza Shell Cove Marina is opening in August 2025. The circular-shaped Holiday Inn on Hillsborough Street in Raleigh, North Carolina, is being rebranded into a Hotel Indigo. There is no timeline for the transformation. Tidal Real Estate Partners bought the hotel in 2021 and originally planned to tear it down and build a new 20-story tower with a Kimpton hotel and high-end apartments. Hyatt Hotels Corporation announced that all required regulatory approvals have been obtained for its cash tender offer to purchase all the outstanding ordinary shares of Playa Hotels & Resorts NV for $13.50 per share in cash. Hyatt said they expect to complete the tender offer following the expiration at 5 PM NYC time on June 9th. Shade Hotels by hotelier Michael Zislis is unveiling a new era for its Manhattan Beach and Redondo Beach locations. The full-scale refresh across both properties includes new guestroom designs, revamped restaurant menus, and rooftop programming. With the relaunch comes a new name for each hotel: Shade at the Beach (Manhattan Beach) and Shade at the Marina (Redondo Beach). Shade at the Beach is celebrating its 20th anniversary and features an indoor-outdoor restaurant, The Skydeck, complete with a new pool and cabanas, and refreshed meeting and event spaces. Shade at the Marina features a re-imagined Aquadeck rooftop and Sea Level Restaurant & Lounge. Appellation joined forces with Deepak Chopra to create a transformative wellness destination community: AMEYALLI Park City by Appellation, set to debut in 2026. Appellation will manage and operate AMEYALLI Park City by Appellation, comprised of an 80-key hotel, a restaurant and bar, along with a Wellbeing Center complete with an expansive spa, luxury pool, and additional restaurant. The surrounding wellness development will also feature the AMEYALLI Center of Excellence in partnership with Deepak Chopra, as well as three types of private luxury residences. Cushman & Wakefield Hotel Group announced it sold the 152-room full-service Best Western Gateway Grand in Gainesville, FL. The property was sold through a discreet & confidential marketing process. This was the first time the hotel was ever "on-market." The property was sold for $14.1 million and a 5.9% Cap Rate on 2024 figures. C&W said they have another 19 hotels under contract and expect 2025 to be a record-breaking year for hotel sales. Paramount Lodging Advisors announced the sale of the 114-room Aloft Marriott Sacramento Airport Natomas in Sacramento, California. PLA represented the seller in this transaction. European Highlights Zeal Hotels appointed James Ferdinando as sustainable development lead, as the group expands around the UK. Zeal Hotels will draw on Ferdinando's extensive experience in sustainable construction practices and sustainable development. He joins the group from RED Construction, which constructed the voco Zeal Exeter Science Park, where he was group head of sustainability. Hilton is set to open a McLaren Racing-themed suite at The Trafalgar St. James London Hotels, a part of its Curio Collection, to mark the Formula 1 British Grand Prix at Silverstone. The suite will be available for booking from July 8 through July 20, 2025. This initiative is part of a celebration for Hilton's 20-year partnership with McLaren Racing. Criterion Capital has acquired the London office building Mansell Court, with the intention of turning it into a 200-room Zedwell hotel. The project joins Criterion's pipeline of 22 hotels, which will add to its current sites at Greenwich, Piccadilly Circus, Tottenham Court Road, and Knightsbridge in London and Zedwell Manchester, which is expected to open in 2026. Ares Management Corp., with funds from Ares Real Estate, has acquired the entire UK hotel portfolio and operating platform from London-based Landsec for $501 million. The sale has been rumored for months, but Landsec confirmed the 21-hotel deal on Wednesday. Landsec said the net proceeds of the sale will initially be used to repay debt. Ares' partner on the Landsec hotel portfolio acquisition is London-based hotel-operating partner EQ Group. Tristan Capital Partners completed its acquisition of budget hotel brand EasyHotel, which it announced on May 1. The deal for 100% of the hotel firm's shares was completed via Tristan Capital's discretionary fund, European Property Investors Special Opportunities 6. The terms of the cash deal comprised the acquisition of approximately 189.5 million shares for an aggregate price of $224 million. KE Hotels secured planning permission for a major expansion and refurbishment of the Holiday Inn Luton Airport, which will include the addition of 89 new guest bedrooms and a series of external upgrades. The approved plans include a multi-story rear extension, which will increase the hotel's capacity significantly from 124 to 213 rooms. Scandic Hotels is expanding its presence in Sweden with a new property in the ski resort area of Salen. The hotel, currently under development, will feature 120 rooms and 16 apartments, along with conference facilities. The property is being developed in partnership with Lima Besparingsskog and is positioned to provide direct ski-in, ski-out access. Plans for the hotel also include a wellness area complete with a sauna, gym, and pool that extends from indoors to outdoors. A new ski lift will facilitate easy transport from the hotel to the ski slopes. The ground floor will feature large windows in the lobby, restaurant, and bar areas, and multiple fireplaces are planned to create a cozy ambiance.
Travel Daily News
12 hours ago
- Business
- Travel Daily News
The Westin Flushing LaGuardia Airport debuts in Queens
The Westin Flushing LaGuardia Airport opens in Queens, offering 246 rooms, wellness amenities, meeting spaces, and upscale dining near key NYC attractions. QUEENS, NEW YORK – Century Development Group announces that The Westin Flushing LaGuardia Airport, part of Marriott Bonvoy's portfolio of more than 30 leading brands, officially opened its doors. This modern hotel brings together contemporary elegance and Westin's signature wellness philosophy, all set within Queens' most dynamic neighborhoods. The 13-story property, developed by Century Development Group – an established name in Queens' hospitality scene – is ideally located at the heart of the community. 'Today marks an exciting new chapter with the opening of The Westin Flushing LaGuardia Airport,' said George Xu, President of Century Development Group. 'This property merges refined urban design with a deep appreciation for the cultural richness that defines Flushing. From the biophilic living wall to the carefully curated guestrooms with sweeping city views, every element has been thoughtfully designed to foster well-being and offer a restorative haven for every kind of traveler – we cannot wait to welcome them in!' The Westin Flushing LaGuardia Airport features 246 well-appointed guestrooms, including 148 king rooms, 79 double rooms, 14 queen rooms, and 5 suites. Select accommodations offer private balconies with breathtaking views of the city skyline. Designed with sustainability and comfort in mind, the hotel incorporates triple-pane windows to enhance energy efficiency and minimize urban noise. Each room is thoughtfully designed to blend comfort with practicality, offering spacious layouts ideal for productivity or relaxation. Guests can enjoy restful nights in the brand's award winning and iconic Heavenly Bed, along with the convenience of dedicated work areas and complimentary Wi-Fi. In the common space areas, guests are welcomed by a tranquil ambiance. The expansive lobby boasts a 16-foot ceiling, a lush biophilic living wall, and the soothing aroma of Westin's signature White Tea scent – creating a peaceful oasis amid the dynamic rhythm of New York City. 'Opening day is always the most rewarding part of the journey,' said Rob Smith, President and Chief Executive Officer of Stonebridge Companies. 'At The Westin Flushing LaGuardia Airport, we're proud to lead a team that's committed to thoughtful, intuitive service from day one. That's what truly makes a guest feel cared for, and that's what we're here to deliver.' With a focus on thoughtfully curated amenities and personalized service, the hotel is built around Westin's three pillars of wellness – Sleep Well, Eat Well, and Move Well- each designed to elevate and enrich the guest experience. These include: Fitness Center: Guests can maintain their fitness routines at the state-of-the-art WestinWORKOUT Fitness Studio, open 24/7. Designed with wellness in mind, the facility provides modern exercise equipment to meet a variety of workout preferences, fostering an environment where travelers can move well during their stay. Spa Features: Guests can find a tranquil escape in one of Flushing's only indoor pools followed by a trip to the steam room and dry sauna. Meeting and Event Spaces: For working and playing well, the hotel boasts over 6,000 square feet of versatile meeting and event spaces. The largest, The Worlds Hall, just over 5,038 square feet and accommodates up to 500 attendees, making it ideal for conferences and celebrations. The Northern Room, spanning 1,300 square feet, can be divided into three smaller spaces, each hosting 25–30 guests, or up to 120 individuals when combined. Additionally, an outdoor terrace adjacent to our 'Westin Club' offers a sophisticated setting for smaller gatherings, seamlessly blending indoor and outdoor experiences. Food and Beverage: The Westin Flushing LaGuardia offers a signature dining concept. From the award-winning team that brought Hinoki to Greenwich, CT and Blu on the Hudson to Weehawken, NJ comes Blu Ember – the upscale New American restaurant will include a 12-seat raw bar, in addition to a main dining room, private dining space and extensive bar. The Westin Flushing LaGuardia Airport places guests in the heart of a thriving community, with easy access to iconic destinations including Queens Botanical Garden, Citi Field, Flushing Meadows Corona Park, Queens Zoo, the USTA Billie Jean King National Tennis Center, and Main Street shopping district. The hotel is strategically located only 10 minutes from LaGuardia Airport and steps away from stations serving the Long Island Railroad (LIRR) and 7 train, making it an ideal base for exploring both the immediate neighborhood and greater New York City. 'As we open The Westin Flushing LaGuardia Airport today, we're proud to see such a perfect alignment between the Westin brand and this vibrant location,' said Paul Williamson, General Manager. 'This new property allows us to seamlessly blend wellness-focused hospitality with the unique character of the neighborhood, creating a distinctive experience for both international travelers and local guests.'
