Latest news with #CoStar
AU Financial Review
a day ago
- Business
- AU Financial Review
CoStar sizes up Jason Pellegrino for return as Domain chief executive
Former Domain chief executive Jason Pellegrino is a leading contender to run the real estate listings platform once it is acquired by American property giant CoStar, returning him to a position he left seven months ago. Domain is controlled by Nine Entertainment but has struggled for years against its larger rival, News Corp-backed REA Group. Pellegrino, a former Google executive, ran the business for many of those years and had a tense relationship with senior Nine figures including the then-chief executive, Mike Sneesby, and former chairman Peter Costello.
Yahoo
3 days ago
- Business
- Yahoo
CoStar Group and Happening Technology End Dispute Amicably
ARLINGTON, Va., May 30, 2025--(BUSINESS WIRE)--CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, analytics and 3D digital twin technology in the property markets, announced today that CoStar Group and Happening Technology have concluded their dispute, with all parties withdrawing every claim with prejudice, bringing the matter to a final and amicable close. Guy Wolcott, a serial entrepreneur, founded the successful residential real estate platform Homesnap in 2012, which CoStar Group acquired in 2020 for $250 million. At the time of the acquisition, Homesnap was used regularly by over 300,000 residential agents in the United States. After departing CoStar, Wolcott, Thomas Goff, and Jeff Repanich launched Happening Technology to develop an innovative data pipeline product, with former Homesnap CEO John Mazur later becoming an investor and board member. Similarities between this product and CoStar's internal data pipeline technology prompted CoStar's reasonable concern regarding potential trade secret misappropriation — concerns that have now been fully addressed. Following a thorough review, the parties concluded that neither Happening Technology nor Wolcott, Goff, Repanich, or Mazur misappropriated CoStar's trade secrets or violated any other legal obligation. CoStar Group and Happening Technology are pleased to put this matter behind them and are open to exploring potential opportunities for collaboration in the future. About CoStar GroupCoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world's real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives. CoStar Group's major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; the leading platform for apartment rentals; and the fastest-growing residential real estate marketplace. CoStar Group's industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible, STR, a global leader in hospitality data and benchmarking, Ten-X, an online platform for commercial real estate auctions and negotiated bids and OnTheMarket, a leading residential property portal in the United Kingdom. CoStar Group's websites attracted over 130 million average monthly unique visitors in the first quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit View source version on Contacts News Media Contact: Matthew BlocherVice PresidentCoStar Group Corporate Marketing & Communications(202) 346-6775mblocher@
Business Wire
3 days ago
- Business
- Business Wire
CoStar Group and Happening Technology End Dispute Amicably
ARLINGTON, Va.--(BUSINESS WIRE)--CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, analytics and 3D digital twin technology in the property markets, announced today that CoStar Group and Happening Technology have concluded their dispute, with all parties withdrawing every claim with prejudice, bringing the matter to a final and amicable close. Guy Wolcott, a serial entrepreneur, founded the successful residential real estate platform Homesnap in 2012, which CoStar Group acquired in 2020 for $250 million. At the time of the acquisition, Homesnap was used regularly by over 300,000 residential agents in the United States. After departing CoStar, Wolcott, Thomas Goff, and Jeff Repanich launched Happening Technology to develop an innovative data pipeline product, with former Homesnap CEO John Mazur later becoming an investor and board member. Similarities between this product and CoStar's internal data pipeline technology prompted CoStar's reasonable concern regarding potential trade secret misappropriation — concerns that have now been fully addressed. Following a thorough review, the parties concluded that neither Happening Technology nor Wolcott, Goff, Repanich, or Mazur misappropriated CoStar's trade secrets or violated any other legal obligation. CoStar Group and Happening Technology are pleased to put this matter behind them and are open to exploring potential opportunities for collaboration in the future. About CoStar Group CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world's real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives. CoStar Group's major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; the leading platform for apartment rentals; and the fastest-growing residential real estate marketplace. CoStar Group's industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible, STR, a global leader in hospitality data and benchmarking, Ten-X, an online platform for commercial real estate auctions and negotiated bids and OnTheMarket, a leading residential property portal in the United Kingdom. CoStar Group's websites attracted over 130 million average monthly unique visitors in the first quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit
Khaleej Times
3 days ago
- Business
- Khaleej Times
Eid Al Adha 2025: Luxury staycations in the UAE
In spite of the rising temperatures, Eid Al Adha, the final holiday before the summer break begins, is going to be a boon for hotels offering staycations as people opt for luxury stays around the country before their travels abroad. Kostas Nikolaidis, senior account manager at CoStar, a global provider of real estate data, analytics, and news, told KT LUXE: 'Current occupancy data indicates strong uplift and booking demand between June 6 and June 10. Dubai occupancy on the books versus the same days last year is 7 per cent higher, with the peak days of June 6 and June 7 already 37.3 per cent and 38.9 per cent booked. Similarly, Abu Dhabi occupancy on the books level is trending 4 per cent higher than last year with Saturday peaking at 33.2 per cent.' He said that demand for accommodation will continue to ramp up as the dates approach. 'Domestic staycations are expected to be one of the main demand drivers coupled with a good share of international visitors primarily from neighbouring GCC countries.' Meerah Ketait, head of retail and leisure at dnata, said that while the majority of bookings this Eid Al Adha are for outbound travel, staycations account for around 8 per cent of total holiday bookings. 'While international travel dominates the Eid period, the local holiday market holds steady as a compelling option for those looking to unwind closer to home,' she said. For one thing, the UAE's travel and leisure sector has adapted to accommodate even the hottest moments. 'Despite the summer heat, many [travellers] are drawn to the UAE's luxury resorts and indoor experiences that are well-equipped to offer a cool and relaxing environment,' she added. 'Beachfront hotels in Dubai, along with escapes to Ras Al Khaimah, Fujairah, and Abu Dhabi, continue to attract demand thanks to their all-inclusive packages, shaded pools, wellness offerings, and kids' activities, all designed to help guests beat the heat while enjoying a memorable break.' Have family or friends coming over for the holidays, or just looking for a sweet summer sojourn? KT LUXE rounds up some of the most luxurious offerings across the Emirates. Whether you are into urban escapes, desert landscapes, or island retreats, we've got you covered. W Mina Seyahi, Dubai The luxurious beachfront destination is offering special Eid deals that are perfect for romantic getaways or family fun alike with half board packages at special rates. 'Occupancy is expected to reach 100 per cent during Eid, underscoring the growing popularity of local staycationers as families choose to remain in the UAE to avoid travel hassles, enjoy familiar comforts, and make the most of exclusive Eid offers,' said cluster director of market strategy, Gustavo Pereira. A staycation at Mina Seyahi gives families a beach retreat while being just minutes from the city's attractions. Half board packages include daily breakfast and dinner at a handpicked selection of Dubai's best dining destinations, plus access to pools, the beach, and the much-loved Jungle Bay waterpark. From Dh1,669 per night. Use discount code D60 at Anantara World Islands, Dubai This plush hideaway offers guests the chance to feel like they're escaping to a luxurious tropical island, while being just a short boat trip back to Dubai's mainland. Luxurious villas, which go up to a massive 471sqm (for the four-bedroom Beach Pool Villa), are reminiscent of Thailand, offering guests private pools, expansive social settings, and luxurious finishings. Sonia Sammut, the resort manager, said: 'Eid is a time for connection, reflection, and celebration — and we've created the perfect sanctuary for all of that at Anantara World Islands Dubai Resort. What makes our resort truly special for Eid is the balance it offers. You're just a short boat ride away from the heart of Dubai, yet you can retreat to the island for peace, privacy, and meaningful moments with loved ones. There's something truly magical about waking up to the sound of the sea, enjoying breakfast with uninterrupted views of the Dubai skyline, and ending the day with a family dinner under the stars.' From Dh1,910 per night. UAE and GCC residents get up to 35 per cent off on the staycation package. Ritz Carlton Wadi Desert, Ras Al Khaimah This spot is an Emirates favourite, allowing guests to get up close to Ras Al Khaimah's breathtaking nature and wildlife. Luxurious villas offer families a home away from home, where they can enjoy views of the rolling sand dunes, lounge next to private pools, and just generally relax and unwind. This Eid, the property is offering an Eid Rainforest Serenity Retreat, with an escape to a private Pool Villa, indoor rainforest access, villa breakfast, and a rejuvenating 60-minute spa session for two. From Dh2,800 per night. The package is valid for stays between June 1 and 9 The Lana by Dorchester Collection, Dubai This summer, The Lana is offering a guaranteed double room upgrade at the time of booking, plus daily breakfast by chef Jean Imbert or a Middle Eastern selection — served in-room or at Riviera. Indulge in exclusive experiences, from arriving in style with a Rolls-Royce transfer to unwinding at the region's first Dior Spa, or savouring the elegant afternoon tea overlooking the Dubai skyline. 'Eid is the perfect time to take a break without going far — and The Lana offers just the kind of refined escape many are looking for. We're seeing more guests from across the UAE join us for a staycation that blends the best of both worlds: the excitement of the city and the calm of a luxury retreat,' said general manager Richard Alexander. 'With beautifully designed rooms, thoughtful service, and access to some of Dubai's most sophisticated dining and leisure experiences, The Lana makes even a few days in the city feel truly special.' From Dh1,500 per night. Offer valid from June 1 to September 20. Al Maya Island, Abu Dhabi Al Maya Island Resort, a serene oasis nestled off the natural island of Al Maya in Abu Dhabi, is just a short boat ride from the city. A haven for those seeking a getaway from the hustle and bustle of the city, it offers an island hideaway in ultimate luxury. Guests can enjoy beach activities with complimentary kayak and stand-up paddle boards, perfect for exploring the island waters. Families can enjoy beach activities, including beach volleyball and football. Guests can also explore the island on two wheels with the free bike hire. From Dh3,145 (for one-bedroom villas). Jumeirah Burj Al Arab, Dubai Guests can enjoy a special Eid discount with up to 20 per cent savings on the Jumeirah Flexible Rate at one of Dubai's most iconic destinations. Offers are on a bed and breakfast with two children aged 11 and below staying free. All guests at the architectural landmark that has put Dubai on the global tourism map enjoy signature butler service, access to SAL Beach Club, Jumeirah's private beach, and Summersalt Beach Club as well as free access to Wild Wadi Waterpark. From Dh3,700 per night. Park Hyatt, Dubai With the Eid Staycation Offer, guests at Park Hyatt Dubai can enjoy a staycation in the heart of old Dubai, just minutes away from some of the city's main attractions. The waterfront retreat on Dubai Creek is offering bed and breakfast with free room upgrades over the break along with 20 per cent savings at Park Hyatt Dubai's exclusive restaurants, welcome beverages at the scenic NOÉPE, two-hour early check-in, and two-hour late check-out. From Dh1,275 per night (for the Park Suite) Mandarin Oriental Jumeira, Dubai One of the emirate's most glamorous spots, this beach resort is, according to the Michelin guide, 'as lavish as they come'. In addition to the hotel's private beach, signature spa and pool, there is Michelin-starred dining at Tasca by José Avillez. The Royal Penthouse is one of the city's most luxurious, spanning 850sqm and located on the rooftop. Offering a huge terrace and plunge pool, it is an urban escape within easy reach of all the city's best attractions and nightlife.
Skift
6 days ago
- Business
- Skift
DoubleTree by Hilton Opens 700th Property
DoubleTree by Hilton has added 40 properties in the past year, including in Nice, Laos, the Azores Islands, and Malta. Meanwhile, Canada's hotel industry reported mixed year-over-year performance in April, plus other hotel news. The DJIA ended Friday with a decline of 256 points, while Nasdaq was down 199, the S&P 500 fell 39 points, and the 10-year treasury yield was down .04 to 4.51%. Lodging stocks were modestly lower ahead of the long weekend. In observance of Memorial Day, there will be no Daily Lodging Report on Monday, May 26th. On the negative side of the Easter calendar shift, Canada's hotel industry reported mixed year-over-year performance in April, according to data from CoStar. April 2025 (percentage change from 2024): Occupancy: 63.2% (-1.0%) ADR: CAD190.46 (+1.1%) RevPAR: CAD120.36 (0.0%). Among the provinces and territories, British Columbia recorded the highest occupancy level (68.7%), which was 1.5% above 2024. Among the major markets, the highest occupancy was seen in Vancouver(-1.2% to 78.5%). The lowest occupancy among provinces was reported in Prince Edward Island (44.2%), up 6.4% against 2024. At the market level, Calgary saw the lowest occupancy (61.2%), down 0.9% from April 2024. DoubleTree by Hilton announced the opening of its 700th property, marking a significant expansion into 60 countries and territories. The past year has seen the brand welcome over 40 new properties, including first-time entries into Nice, Laos, the Azores Islands, and Malta. DoubleTree by Hilton's growth is expected to continue, with over 240 hotels currently in development. The brand's portfolio includes upcoming first-in-country debuts in various markets. In the Europe, Middle East and Africa region, the brand plans to open its second resort property in Egypt, the DoubleTree by Hilton Mangroovy El Gouna Resort, and bolster its presence in Northern Ireland with the DoubleTree by Hilton Derry-Londonderry. In North Africa, the DoubleTree by Hilton Casablanca City Centre is set to debut in Casablanca. The brand has 115 properties in the Asia Pacific region. Expansion will continue in China with new hotels planned for rapidly growing cities like Zhengzhou and Yanji. DoubleTree by Hilton has also contributed significantly to Hilton's growth strategy by converting existing properties into the DoubleTree portfolio. In the first quarter of 2025, conversions accounted for approximately 40% of Hilton's nearly 200 new openings. The Plasencia Group has facilitated the sale of the 297-key Hilton Houston Westchase. The property boasts 12,578 square feet of meeting space and onsite dining. Ashford Hospitality Trust announced it signed a definitive agreement to sell the 242-room Hilton Houston NASA Clear Lake in Houston, TX, for $27 million. The sale is expected to be completed in June. In Michigan, the Norton Shores City Council approved a special use permit for Amerilodge to build a four-story Tru by Hilton hotel. Construction on the 92-room hotel could begin as early as this summer. The 153-room AC Hotel Bentonville, in Bentonville, Arkansas, has opened at the entrance to the new 350-acre Walmart Home Office. Walmart, the hotel owner, signed a franchise agreement with Marriott International to operate the property. The five-story building features a rooftop lounge, more than 9,000 square feet of indoor and outdoor event space, the AC Kitchen, a fitness center and bike storage. Coury Hospitality is the hotel operator. Terra and Turnberry celebrated the groundbreaking of the Grand Hyatt Miami Beach, a transformative 800-room hotel connected to the Miami Beach Convention Center. The hotel is backed by $392 million in construction financing from TYKO Capital. Upon planned completion in late 2027, the 17-story Grand Hyatt Miami Beach will feature 12 floors of guestrooms, including 52 suites, four floors of meeting and ballroom space, and resort-style amenities. Park Hotels & Resorts Inc. closed on the sale of the 316-room Hyatt Centric Fisherman's Wharf located in San Francisco, California, for $80 million. Proceeds from the sale will be used for ongoing return on investment projects in Park's portfolio and for other general corporate purposes. In Wilkes-Barre, Pennsylvania, developer Hysni 'Sam" Syla unveiled plans to use the old Martz Trailways building at 46 Public Square as the location for a hotel and convention center. Renovations for the $20 million project are expected to begin in the fall of this year, with a grand opening slated for mid-fall 2026. According to project officials, the hotel will feature 110 rooms and a 10,000 square foot banquet hall. Amenities include a fitness center, restaurants and a business lounge. The hotel will be under a national brand, but it is too early in the process to release information on the name. Taos Ski Valley Inc.'s revamped Hotel St. Bernard project, in Taos, New Mexico, is on hold, according to a resort spokesperson. The construction on the Hotel St. Bernard was temporarily suspended due to several dynamics, including labor shortages, supply chain challenges, rising construction costs and other volatile market conditions. The White Elephant Aspen, with 54 rooms and suites, a heated pool, hot tubs, an outdoor fire pit and a LoLa 41 restaurant, is set to open its doors this fall. As part of White Elephant Resorts, the new hotel in Colorado's Pitkin County is being developed by New England Development. The very first hotel in the 12South neighborhood in Nashville, Tennessee, is officially open. The 99-room boutique-style hotel is called The Gilmore. The property was completely transformed over the last 18 months. The Dean, in Providence, Rhode Island, has been rebranded as Neptune. According to Ash Hotels, no impact on the hotel's operations will take place coinciding with the rebrand. A phase renovation will start later this year that will touch all 65 hotel rooms and common spaces. A new restaurant and bar concept is slated to launch this summer. Appellation joined forces with Deepak Chopra to create a transformative wellness destination community: AMEYALLI Park City by Appellation, set to debut in 2026. Built around a natural geothermal spring, AMEYALLI is located on 78 acres of pristine landscape in Midway, Utah. Appellation will manage and operate AMEYALLI Park City by Appellation, comprised of an 80-key hotel, a Charlie Palmer restaurant and bar, along with a Wellbeing Center complete with an expansive spa, luxury pool, and additional farm-to-table 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. A 59-unit hotel is slated for 1224 Frankford Avenue in Philadelphia, Pennsylvania, a vacant lot owned by developer Roland Kassis. The project is being developed by a group called the Fishtown Collective, which Kassis is leading. Plans submitted to the city show a five-story structure with five parking spaces and two commercial spaces, both fronting on Frankford Avenue. The Silverado Franklin Hotel, one of the oldest and most iconic hotels in Deadwood, South Dakota, is undergoing a major renovation. The nearly $10 million project will touch on every corner of the hotel, including 73 guestrooms, 20 standard suites and four luxury suites. The completion is slated for summer 2025. Personnel News JLL announced Daniel K. Nahoopii has joined the JLL Global Tourism & Destination Advisory Group. Nahoopii will play a key role in advancing JLL's mission to develop implementable, future-focused strategies that enhance communities and economies worldwide. Nahoopii was the former Interim President & CEO and Chief Administrative Officer of the Hawaii Tourism Authority. Peregrine Hospitality announced Jeff Knowlton has joined the firm as Chief Information Officer, a newly created position. Knowlton joins Peregrine from Sonesta International Hotels Corporation, where he served as CIO and spearheaded comprehensive technology transformation initiatives. a&o Hostels announced the appointment of Thomas Hertkorn as the Head of Online Marketing, with the expert in performance and data-based strategies returning to the company after five years to take up his former position. Europe Highlights Hilton announced the opening of Hotel Astoria Vienna, Curio Collection by Hilton. The 125-room hotel is Hilton's first Curio Collection by Hilton opening in Vienna. Following an extensive refurbishment and renovation, the hotel is home to a stylish bar and restaurant, one Beletage Suite, seven Junior Suites and four meeting rooms. Wilde Aparthotels will unveil three new properties this year: Wilde Apartment, Cambridge City Centre with 229 apartments; Wilde Aparthotels, Lisbon, Liberdade with 95 hotel rooms and studio apartments; and the 136-guestroom Wilde Aparthotels, Vienna, Alte Post. Pan Pacific London unveiled a new standard of graceful luxury across its forty-two suites. The suites include striking views of the capital, dressing tables, custom-designed dining tables, ergonomic desks and marble bathrooms, and generous walk-in wardrobes. Guests staying in the suites also enjoy access to the hotel's SENSORY Wellbeing Floor with high-performance gym, infinity pool and spa treatment rooms, evening turndown service and more. Global Highlights Marriott International signed an agreement with Solana PA, S.R.L. to debut the St. Regis Hotels & Resorts brand in Costa Rica. The development, which will span 20 hectares on the Gulf of Papagayo in the Guanacaste region, is expected to begin in July of this year, with a planned opening in early 2027. The new-build St. Regis Papagayo is slated to feature 120 hotel rooms and 143 residential units, six culinary venues, St. Regis Library, multiple pools, a spa, an exclusive beach club, and 7,750 ft² of indoor space and 2,475ft² of outdoor space for meetings and banquet space.
