Latest news with #hotelconversion
Travel Daily News
6 days ago
- Business
- Travel Daily News
limehome expands through hotel takeovers and conversions
limehome strengthens its market presence by adding several hotel assets across Europe. Multiple hotel properties in A-cities, including Berlin, Barcelona, Madrid and Valencia, completed or nearly completed. MUNICH – limehome, Europe's leading operator of design accommodations, is stepping up its focus on conversions of vacant and struggling hotels. The company has signed four additional projects in Italy, Spain and Germany, which will bring around 200 new units to market over the next year. These will be added to the expanding portfolio of completed or nearly completed hotel properties in A-tier cities. The next limehome opening of a former hotel is scheduled for fall 2025, with the launch of a newly converted property in Berlin. Increasing portfolio share of hotel projects In 2024, limehome took over the former Gold Hotel in Berlin-Friedrichshain as the sole tenant. A total of 42 new units will be available from the fall. This is already the second hotel conversion in the capital, following the property on Stresemannstraße that opened its doors in 2023. The above-average occupancy rate of 93 percent proves the success of the Berlin limehome property. Following this showcase, limehome will revitalize two adjacent three-star hotels in the southern Italian port city of Bari at Via Piccinni and Via Roberto da Bari with its partners. Just 400 metres apart and steps from the historic centre, both properties will reopen by mid-2026. On Spain's Costa Blanca, limehome will relaunch the former beachside Hotel Centro Mar on Benidorm's Calle Major by October 2025. Back in Germany, the company is converting a former Ibis hotel in central Jena, Thuringia, into functional design accommodations that will welcome guests in summer 2025. These projects are the latest additions to limehome's growing list of hotel conversions across major European cities, including Barcelona, Basel, Berlin and Prague. Lease renewals and rising costs prompt landlords to seek alternatives limehome's increasing focus on hotel takeovers addresses the growing cost facing hospitality operators face due to rising rents and labour costs. limehome's co-founder and co-CEO, Dr. Josef Vollmayr, offers the following insights: 'A significant portion of the estimated seven to eight million hotel rooms in Europe is outdated. At the same time, operating costs have increased by approximately 40 percent. As rental agreements expire – which will be the case for many properties in the coming years – the pressure on tenants is enormous. In this scenario, improving efficiency and modernizing existing properties is crucial to ensure the economic viability of these assets.' Converting existing buildings rather than building new properties offers a faster, more resource-efficient solution if the future tenant can maximise space and lower operational outlay. limehome's tech driven operating model allows for flexible floor plans and high space efficiency. The company's in-house team of architects, engineers and data scientists increase the net lettable area to around 70 percent, compared to around 50 percent in conventional hotel concepts. 'Our tech-enabled concept combined with deep conversion expertise provides a needed solution for underperforming hotel assets,' says Vollmayr. 'Hotel conversions already represent up to 15 percent of our portfolio and the trend is rising. Due to the increasing cost pressure faced by operators from the mid- to upscale segment, we expect a significant rise in conversion projects within our portfolio over the next few years. The same applies for hotel takeovers.' Diversified hotel projects for maximum coverage In addition to new hotel conversions, with which limehome takes over struggling hotel operators and thus enriches the accommodation market, the Munich-based company is also working on new hotel construction projects. Almost 400 new units are being built in the Spanish tourist centers of Madrid and Barcelona, as well as in Burgos, which is a popular stop on the Way of St. James and is equally interesting for short breaks. Since 2022, limehome has already been successfully managing a hotel accommodation with over 30 units in the Spanish metropolis of Barcelona. Through the mix of conversions and new construction projects, limehome is expanding its own portfolio across the board and demonstrating once again that the hospitality provider's digital concept can be used flexibly and successfully as a solution for the hotel market of tomorrow.
Travel Daily News
7 days ago
- Business
- Travel Daily News
Downtown San Diego's Tower 180 turns to dual-branded Hyat
J Street will transform San Diego's Tower 180 into a $250M, dual-branded Hyatt hotel, marking a major office-to-hospitality conversion. SAN DIEGO, CALIFORNIA – J Street, a leading San Diego-based real estate developer, announced ambitious plans to transform Tower 180, a 25-story office building in Downtown San Diego, into a 560-key dual-branded project with a Hyatt Place and Hyatt House hotel. The conversion project, in collaboration with Hyatt, represents one of the largest office-to-hospitality conversions in the history of Southern California and will cost approximately $250 million. Construction is slated to begin in early 2026 with completion expected in the first half of 2028. The transformation aims to not only revitalize an underutilized downtown property but also create a vibrant destination that serves both visitors and locals, further enhancing the city's downtown corridor. 'This type of conversion project requires curiosity, creativity, and confidence,' said Saj Hansji, Founder and CEO of J Street. 'As a small and nimble firm, we were able to recognize the exceptional potential of Tower 180 and structure an offer that outpaced more institutional competitors. Over the past two years, we've meticulously quantified and mitigated the risks, creating a friction-free path to deliver this transformative new hotel for Downtown San Diego.' J Street acquired Tower 180 in December 2023 and partnered with architecture firm Delawie and interior design firm MONOGRAM at BBGM to reimagine the space. The Tower 180 project is uniquely positioned for success due to several key advantages. Originally built as the United States National Bank Building, the building underwent extensive renovations to its facade, lobby, and mechanical systems in 2020, making it an ideal conversion with updated infrastructure already in place. The building is also fully vacant eliminating relocation challenges often associated with adaptive reuse projects and has undergone substantial interior demolition and abatement. The architectural configuration of the main tower and adjacent annex presents an efficient layout for guestroom design, maximizing the property's functionality for hospitality use. The development also features a standalone nine-story parking garage, ensuring convenient parking options for guests and the public. Located at 180 Broadway, the 385,000-square-foot tower will be converted into a Hyatt Place hotel (371 keys) and a Hyatt House hotel (189 keys), offering two distinct hospitality experiences under one roof. The Hyatt Place hotel will offer those traveling for business or those looking to unwind a spacious room with dedicated places to work, sleep and hang out, helping guests seamlessly transition from working hours to relaxation. The Hyatt House hotel will provide well-equipped living accommodations with everything guests need for short- or long-term stays. Both hotels' amenities will help guests maintain their routine and enjoy the comforts of home when they are away. The dual property will feature reception areas, a lobby lounge, and market on the ground floor, a breakfast bar with an additional overflow lounge on the second floor, and more than 12,000 square feet of meeting space across levels 9 and 10 to accommodate conferences and events. 'Hyatt's partnership with J Street to transform Tower 180 is a fantastic opportunity to bring Hyatt's Essentials Brands to the Downtown San Diego market,' said Nirav Shah, Regional Vice President Development, Hyatt. 'With J Street's creativity and experience, this project exemplifies the transformation of office space in primary urban markets in the post-pandemic world.' The crown jewel of the project will be Lurline Cocktail Club, an upscale rooftop bar and lounge on the 25th floor. With high ceilings and floor-to-ceiling glass walls showcasing panoramic, unobstructed 360-degree views of the San Diego skyline and the ocean beyond, Lurline will blend the sophistication of a private penthouse with the energy of a premier listening lounge and sky-high bar. Featuring a sleek, minimalist design with a thoughtful balance of rough and polished materials, Lurline will showcase a curated collection of modern art that celebrates the intersection of architecture and music. The venue will offer a separate entrance off the street, serving as a destination for visitors and locals alike. This project continues J Street's commitment to creating unique, singular developments that enhance urban environments while providing exceptional returns. The conversion of Tower 180 aligns with the growing national trend of repurposing underutilized office buildings for hospitality and residential uses, addressing changing market demands in the post-pandemic landscape.
Hospitality Net
30-05-2025
- Business
- Hospitality Net
IHG Hotels & Resorts' Conversion-Friendly Brands Fuel Growth Opportunities for Owners
ATLANTA – Quick-to-market conversions backed by attractive brands and a powerful commercial engine are a winning combination that is driving growth for IHG Hotels & Resorts (IHG) and its owners. IHG has seen a steady increase of conversion activity in recent years, with its total global conversion signings nearly doubling between 2023 and 2024. Conversion hotels allow owners to capitalize on fast access to IHG's leading enterprise, including marketing, technology and distribution resources and more than 145 million IHG One Rewards loyalty members. In the first quarter of 2025 alone, conversions accounted for around 60 percent of global openings and 40 percent of global signings for IHG. Owners' growing interest in converting hotels to IHG brands signals that they continue to see tremendous value in our brands and the ability to plug into IHG's powerful enterprise system. While new build development always will remain important globally, our broad portfolio of soft brands and those that are conducive for conversions across the chain scales give owners more choice and avenues for success. Jolyon Bulley, Chief Executive Officer, Americas at IHG IHG's soft brands include Vignette Collection (in the luxury and lifestyle segment) and voco hotels (in the premium segment), which enjoyed record opening and signing totals in 2024. Premium brand Ruby will offer additional flexibility for owners interested in conversion and adaptive reuse projects, in addition to new builds, across the urban lifestyle space. In the midscale segment, the Garner hotels brand continues to deliver on its promise of quality and affordability for guests and faster ramp-up times for owners. Vignette Collection welcomes independent luxury and lifestyle hotels seeking distinct style and character while benefitting from IHG's global enterprise. Within a few years of its 2021 launch, the brand already is on pace to nearly triple its global estate and is more than 60 percent of the way to its goal of attracting 100 hotels in its first decade. Following the 2023 opening of its first Americas destination in Washington, D.C., Vignette Collection's ongoing regional expansion includes recent openings in Lima and San Francisco and signings in Japan, France and Germany. welcomes independent luxury and lifestyle hotels seeking distinct style and character while benefitting from IHG's global enterprise. Within a few years of its 2021 launch, the brand already is on pace to nearly triple its global estate and is more than 60 percent of the way to its goal of attracting 100 hotels in its first decade. Following the 2023 opening of its first Americas destination in Washington, D.C., Vignette Collection's ongoing regional expansion includes recent openings in Lima and San Francisco and signings in Japan, France and Germany. Considered IHG's fastest growing premium brand, voco hotels invites guests to 'come on in' to a consistently thoughtful experience defined by individual charm. The versatile and flexible brand aims to reach 200 open or pipeline global properties by 2028, bolstered by late 2024 Americas openings in Atlanta, Tucson, Ariz., and Laguna Hills, Calif. voco hotels' latest global signings include six in Greater China and planned market debuts in Canada, Aruba and Türkiye. invites guests to 'come on in' to a consistently thoughtful experience defined by individual charm. The versatile and flexible brand aims to reach 200 open or pipeline global properties by 2028, bolstered by late 2024 Americas openings in Atlanta, Tucson, Ariz., and Laguna Hills, Calif. voco hotels' latest global signings include six in Greater China and planned market debuts in Canada, Aruba and Türkiye. Within two years of its August 2023 launch, the midscale conversion brand Garner hotels has surpassed 120 open and pipeline hotels and is positioned to quadruple its worldwide reach in the coming years. Garner hotels has gained popularity with owners thanks to its competitive conversion cost per key, flexible design standards and reduced pre-opening costs through a rapid conversion process. Notable recent openings include the 11 th Americas Garner hotel in Panama City Beach, Fla. along with global debuts in Germany, Italy and Japan. New signings also will introduce the brand to Canada, Türkiye and beyond. has surpassed 120 open and pipeline hotels and is positioned to quadruple its worldwide reach in the coming years. Garner hotels has gained popularity with owners thanks to its competitive conversion cost per key, flexible design standards and reduced pre-opening costs through a rapid conversion process. Notable recent openings include the 11 Americas Garner hotel in Panama City Beach, Fla. along with global debuts in Germany, Italy and Japan. New signings also will introduce the brand to Canada, Türkiye and beyond. The early 2025 acquisition of premium urban lifestyle brand Ruby, now IHG's 20th global brand, brings more than 30 hotels to the portfolio. Ruby's 'urban micro' model has proven successful for new build, conversion and adaptive reuse projects across major European cities, including several openings within former office buildings and non-traditional commercial developments. IHG expects Ruby to be ready for franchising within the U.S. later this year and anticipates opening more than 120 branded hotels within the next decade, including new signings in Copenhagen, Berlin and Geneva. To learn more about IHG's conversion friendly brands, or to book a stay, visit or use the IHG One Rewards mobile app. *All numbers as of Q1 2025 unless noted otherwise About IHG® IHG Hotels & Resorts [LON:IHG, NYSE:IHG (ADRs)] is a global hospitality company, with a purpose to provide True Hospitality for Good. With a family of 17 hotel brands and IHG Rewards, one of the world's largest hotel loyalty programmes, IHG has over 6,000 open hotels in more than 100 countries, and a further 1,800 in the development pipeline. InterContinental Hotels Group PLC is the Group's holding company and is incorporated and registered in England and Wales. Approximately 350,000 people work across IHG's hotels and corporate offices globally. Visit us online for more about our hotels and reservations and IHG Rewards. For our latest news, visit our Newsroom and follow us on LinkedIn, Facebook and Twitter. Jamie Cwalinski Senior Manager, Corporate Communications, The Americas, IHG Hotels & Resorts IHG View source
Trade Arabia
12-05-2025
- Business
- Trade Arabia
Marriott, Verkehrsbuero sign deal for five properties in Austria
Marriott Internationalhas 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. 'As a company, we have developed a conversion-friendly platform, and these new hotel signings are a testament to the trust owners and franchisees have in Marriott International and the reputation of our world-class brands,' said Jerome Briet, Chief Development Officer, Europe, Middle East & Africa, Marriott International. 'Austria is an important growth market for the company, and we continue to see opportunities to further diversify our portfolio in the country. We are particularly looking forward to growth in the affordable midscale segment with Four Points Flex by Sheraton.' Verkehrsbuero Hospitality is taking a strategic step in the Austrian hospitality industry with the conversion of its five Austria Trend Hotels. Marked in a signing ceremony with Marriott International President and Chief Executive Officer Anthony Capuano and CEO of Verkehrsbuero Martin Winkler, the multi-deal agreement with Marriott supports the company's goal to diversify its portfolio and drive sustainable growth while continuing to provide unique memories for its guests. Winkler added, "We are delighted about our new agreement with Marriott International. With this recent signing, we have gained a strong global collaborator with whom we can strategically develop our hotel portfolio. As an experienced hotel operator in Austria, we combine our long-standing expertise with Marriott's global reach to provide guests from around the world with outstanding hospitality experiences." Four Points Flex by Sheraton, one of Marriott's midscale brands, will make its anticipated debut in Austria with four properties. By Q3 2025, Austria Trend 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 Trend 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 Schönbrunn will join Marriott's Tribute Portfolio – a global network of hotels renowned for their unique charm, exceptional service, and outstanding design. Located in close proximity to Schönbrunn Palace, the landmark hotel blends Viennese elegance with top-tier comfort. Marriott's footprint in Austria currently features a portfolio of 21 properties and nearly 4,000 rooms in operation. The country is home to 14 of the company's brands, each serving distinct experiences across traveller segments and travel purposes. These include The Ritz-Carlton, The Luxury Collection, Marriott Hotels, Sheraton, Le Méridien, Renaissance Hotels, Autograph Collection, Tribute Portfolio, Design Hotels, Residence Inn by Marriott, AC Hotels by Marriott, Moxy Hotels, Courtyard by Marriott and Four Points by Sheraton.
