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Skift
12 hours ago
- Business
- Skift
Hilton's Luxury and Lifestyle Brands Open Their 1,000th Hotel
The DJIA ended Friday up 54 points, while Nasdaq was down 62, the S&P 500 was flat, and the 10-year treasury yield was down .01 to around 4.42%. Lodging stocks were mixed. With NYU and NAREIT this week, we have a lot of updates on outlooks for 2025 from consultants and analysts. Baird said May has been tracking better than expected/feared, especially compared to guidance that was provided just a month ago when tariff, economic, and capital markets uncertainties were higher. They expect management teams to have an upbeat tone this week, but Baird warned that the top-line outlook remains sluggish and expense headwinds are still pressuring profitability and cash flow growth. They did modestly increase earnings estimates for their coverage. On the investment side, they continue to prioritize balance sheet strength, capital allocation flexibility, and free cash flow. Morgan Stanley said they still see RevPAR in the U.S. hovering in the 0%-2% range with weaker trends in the midscale/economy space given higher supply growth and deterioration in leisure. MS acknowledged that forward indicators remain weak and would forebode a further deterioration in business travel demand if sustained. They said they were surprised by the general resilience in the hotel pipeline sequentially in 1Q but noted that openings have lagged the historical relationship to the pipeline. Lodging Analytics Research & Consulting said they now expect U.S. RevPAR to rise by 1.3% to $101.56 this year, driven by ADR growth of 2.1% to $162.36. They expect occupancy to decline by 0.8% to 62.5%. LARC is forecasting U.S. hotel EBITDA to decline by 2.3% with over 100 basis points of margin erosion, and hotel values to drop by 1%. Over the next five years, they expect hotel values to rise by 5%. With recent openings in Paris, Cape Town, Dallas, Osaka, Costa Rica, Jordan, and more, Hilton's luxury and lifestyle brands have opened their 1,000th hotel globally. This milestone follows a record year of growth for Hilton, punctuated by strategic partnerships, acquisitions, and nearly 100,000 rooms added to Hilton's portfolio. In 2025, Hilton expects to add more than 150 luxury and lifestyle hotels around the world. Upcoming openings include the Waldorf Astoria New York, Waldorf Astoria Rabat-Sale, Conrad Athens The Ilisian, and Conrad Hamburg, the first LXR Hotels & Resorts in India, and the debut of Curio Collection in Thailand, paving the way for the brand's 200th hotel milestone later this year. Recent openings have included Waldorf Astoria Costa Rica Punta Cacique; Waldorf Astoria Osaka; Sax Paris, LXR Hotels & Resorts; Signia by Hilton Amman; Canopy by Hilton Cape Town Longkloof; Tempo by Hilton Raleigh; and The Radical Asheville, Tapestry Collection by Hilton. Hilton, so far this year, has added more than 100 future luxury and lifestyle hotels to its development pipeline, building on the recent additions of the NoMad and Graduate by Hilton brands and the launch of a new exclusive partnership with Small Luxury Hotels of the World. Aimbridge Hospitality is continuing to sharpen its performance-driven culture to deliver measurable results across its portfolio of managed properties in North America, EMEA, and LATAM. As part of its focused strategy, Aimbridge has welcomed a collection of new properties to its managed portfolio in 2025, from coast to coast in the U.S. and across the Atlantic to its EMEA division. Among the additions are independent hotels as part of the company's Full Service division, including the Hotel Deco in Omaha, Nebraska, the Orange County Hotel in Santa Ana, California, and the Casa Palma Hotel & Bungalows in Palm Springs. In the U.K., Aimbridge EMEA added 11 notable properties to its portfolio, including the Crowne Plaza Newcastle, Hilton Garden Inn Birmingham Airport, The Harlow Hotel by Accor, and six hotels operating under the Mercure brand in Bedford, Cardiff, Harlow, Nottingham, Telford, and Birmingham. Other property updates in the first half of 2025 include brand transitions and property enhancements managed by Aimbridge including the reopening of the Sheraton Minneapolis Downtown Convention Center; the multi-million dollar rebrand of Hotel Milo in Santa Barbara, transforming the property into The Milo; and refurbishment of the Grand Luxor Hotel & Village, rebranding the 402-key resort as Four Points by Sheraton Costa Blanca. Other updates include a $50 million renovation of the Sheraton Fort Worth Downtown, as well as a complete refresh of the Hilton New York Fashion District. Aimbridge is also expanding its National Sales Team to accelerate top-line growth as part of a unified national sales strategy and strengthen efforts to attract government, airline, corporate, and sports group business to its properties. Supporting these efforts is Second Wave Marketing, Aimbridge's dedicated in-house branding and marketing agency. HEI Hotels & Resorts has added the Marriott City Center Hotel in Pittsburgh, Pennsylvania, to its growing portfolio of upper-upscale branded hotels and resorts throughout the U.S., a portfolio that now numbers more than 100 properties. The Marriott Pittsburgh provides 402 rooms, approximately 27,000 square feet of meeting space, and two food and beverage outlets. Moxy Hotel will open its first Charlotte hotel this summer. The hotel has 200 guestrooms from the fifth to the 12th floor, a check-in desk and bar sharing the same space, a fitness center, semi-private event spaces, bar and lounge areas, plus a grab-and-go section. PM Hotel Group announced its selection to manage Hotel Burg, a new 39-room, luxury boutique hotel opening in August 2025 in downtown Leesburg, Virginia. Windward Development Inc. is proposing a new, 40-room, four-story hotel on Locust Avenue in New Canaan, Connecticut, along with a restaurant and retail or office space. CapStar Advisors announced the completion of two transactions. The firm recently acted as a representative of Springboard Hospitality in its merger with Hotel Equities and completed a strategic growth plan for Brightwild, a vacation rental company. Starwood Capital Group refinanced the 418-room Westin San Francisco Airport and 298-room Aloft San Francisco Airport with a $92.2 million loan, which has a two-year initial term and three one-year extension options. The financing is part of a CRE CLO transaction. Starwood contributed an additional $12.7 million of equity to repay an existing $97.1 million loan and fund capex reserves; the loan is structured with a $10.2 million future funding commitment, and Starwood is planning $16 million of renovations by YE28. Hilton announced the signing of Elephant Tree Resort and Villas Tobago, Tapestry Collection by Hilton. Expected to open in 2028, the development marks the arrival of the Tapestry Collection by Hilton brand in Tobago. Operated by Hotel Equities, Elephant Tree Resort and Villas Tobago offers 40 guestrooms, 126 fully furnished residences, a fitness center, three pools, 400 square feet of meeting space, a beach club with a bar and grill, and a signature restaurant. Personnel News Rosewood Hotel Group announced the appointment of two new corporate executives. Anthony Ingham, the Group's new Chief Operating Officer, will begin his term on September 1, 2025. Anthony will be instrumental in shaping the Group's operations and strategy to achieve its vision. He will also be responsible for enhancing the guest experience and driving operational and commercial success across all the Group's properties while leading the global teams across operations, commercial, CRM, retail, wellness, digital, and e-commerce. He will join Rosewood Hotel Group from The Hong Kong Jockey Club. The Group is also welcoming Luca Finardi as Vice President, Operations, Europe, the Middle East, Africa, and Caribbean Atlantic, on June 1, 2025. Finardi spent the past decade establishing Mandarin Oriental's Italian portfolio and, most recently General Manager of Mandarin Oriental Paris and Area Vice President, Operations for France, Italy, and the Czech Republic. Finardi will oversee the operational strategies of the Group's portfolio and sustain its quality growth in the EMEAC region. Langham Hospitality Group has named Kevin Robinson as Chief Operating Officer, effective April 14, 2025. Robinson returns to the Group after previously leading The Langham, Chicago. Robinson will lead day-to-day operations across the Group, with a focus on maintaining execution readiness as the company prepares to manage an expanded portfolio. He will also oversee future hotel openings. Lark announced the appointment of Amber Asher to its board of directors. Asher brings decades of experience scaling bold, design-driven hotel brands and leading transformative growth strategies. Asher served as CEO of Standard International. Vision Hospitality Group, Inc. announced the promotion of O'Mally Foster to Chief People Officer. In his new role, Foster will continue to uphold the organization's core values; lead cultural transformations; reinforce Vision's shared purpose; promote internal career advancement to cultivate talent from within; leverage people analytics to track engagement, retention, and cultural progress; and align HR policies to actively advance the organization's mission of environmental stewardship, community service and cultural respect through its people practices. Foster joined Vision in 2017 and most recently served as Senior Vice President of Human Resources. Europe Highlights Hilton announced the recent opening of Sax Paris, LXR Hotels & Resorts. The 118-room property marks the debut of the LXR Hotels & Resorts brand in France. Owned and developed by Compagnie de Phalsbourg, the hotel offers two restaurants, a cocktail bar, versatile event spaces, an outdoor pool and garden, and a fitness and spa club. Spanish hotel chain Barcelo is negotiating the purchase of the four-star hotel Evergreen Laurel in Paris for around EUR 70 million. According to sources familiar with the matter, the talks are very advanced, although the transaction has not been closed yet. The hotel is currently owned by Taiwanese conglomerate Evergreen Group. 1 Hotels announced that reservations are now open for 1 Hotel Copenhagen, set to open in August in the heart of Denmark's capital. The property is a re-imagining of the Skt. Petri, an iconic hotel in the historic Latin Quarter.1 Hotels is transforming the space into a 282-room retreat offering multiple food and beverage venues, a range of versatile event spaces across four venues, and a fitness center. Opening in early 2026 is Bamford Wellness Spa.
Skift
2 days ago
- Business
- Skift
Hyatt Launches Unscripted While IHG Doubles Conversion Signings
The DJIA ended Friday up 54 points while Nasdaq was down 62, the S&P 500 was flat and the 10-year treasury yield was down .01 to around 4.42%. Lodging stocks were mixed. Truist Securities lowered their already Street-low 3Q RevPAR growth forecasts, saying it already looks like it will be a miss versus current consensus expectations. They expect company 2025 RevPAR guides to track to the bottom end of the guidance ranges. For US mid and upper-end hotels, Truist Securities lowered RevPAR expectations to a drop of -0.5 to -2.5% from -2% to +1% previously. For 2Q25, they expect flat to +2% for US mid and upper-end hotels. They now expect limited service to be 300 basis points below this range, down another 100 basis points from their previous expectations. Truist Securities downgraded both Airbnb and Park Hotels and Resorts. ABNB is downgraded to Sell from Hold with a $106 price target, down from $112, while PK is downgraded to Hold from Buy with a price target of $11, down from $16. They also took down price targets on Choice, DiamondRock, Hyatt, Marriott and Ryman. IHG Hotels & Resorts said they have seen a steady increase in conversion activity in recent years, with its total global conversion signings nearly doubling between 2023 and 2024. In the first quarter of 2025 alone, conversions accounted for around 60% of global openings and 40% of global signings for IHG Hotels & Resorts. IHG Hotels & Resorts' 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. Following the 2023 opening of its first Americas destination, Vignette Collection's ongoing regional expansion includes recent openings in Lima and San Francisco and signings in Japan, France and Germany. voco hotels aims to reach 200 open or pipeline global properties by 2028, bolstered by late 2024 Americas openings in Atlanta, Georgia; Tucson, Arizona; and Laguna Hills, California. voco hotels' latest global signings include six in Greater China and planned market debuts in Canada, Aruba and Turkiye. 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. Notable recent openings include the 11th Americas Garner hotel in Panama City Beach, Florida, along with global debuts in Germany, Italy and Japan. New signings will also introduce the brand to Canada, Turkiye and beyond. The early 2025 acquisition of premium urban lifestyle brand Ruby, now IHG Hotels & Resorts's 20th global brand, brings more than 30 hotels to the portfolio. IHG Hotels & Resorts expects Ruby to be ready for franchising within the U.S. later this year and anticipates opening more than 120 banded hotels within the next decade, including new signings in Copenhagen, Berlin and Geneva. Sonder Holdings said it received an expected deficiency notification from the Nasdaq Stock Market due to its failure to file a timely Form 10-K annual report. SOND has 60 calendar days to submit a plan to regain compliance. The iconic Waldorf-Astoria Hotel will finally reopen to guests in September, months later than Hilton promised it would, and after four previous delays since the hotel closed in 2017. A Waldorf-Astoria New York spokesperson told The Post, "We expect to open our doors sooner. Our exact opening date is still being determined." The Hotel Monroe is officially open in Monroe, Louisiana. Co-owned by Michael Echols, the property includes nearly 70 guestrooms, multiple restaurants, a rooftop bar and an event ballroom. Embassy Suites by Hilton Orlando Lake Buena Vista Resort is currently undergoing a massive renovation. The resort has 334 suites, multiple dining offerings, over 6,500 square feet of flexible event space, a pool that is both outdoors and indoors, a splash pad, cabanas by the pool, a fitness center, a tennis and pickleball court, a volleyball court, a half-court basketball area and a playground. Phase 1 of the renovations has been completed, and it included new furniture in both the lobby spaces and the restaurant, new pavers around the pool area, and new carpeting in the hallways and conference spaces. The resort is currently in its second phase of renovation and will be completed in October 2025. This part of the renovation is dedicated to the complete overhaul of the rooms. Construction has begun on a new Tru by Hilton hotel in Hagerstown, Maryland. The hotel is expected to open in spring 2026 and will feature 100 guestrooms, a large lobby with workspaces and games, a market and a fitness center. The Tru by Hilton is operated by Bowman Hospitality. A new, nine-story Vanguard Hotel, part of Marriott Bonvoy's Autograph Collection, is now open in Ann Arbor, Michigan. The property features 188 guestrooms, onsite dining, and over 11,000 square feet of meeting and event spaces. Hyatt Hotels Corporation announced Unscripted by Hyatt, the newest brand in its growing Essentials portfolio. Unscripted by Hyatt hotels will bring to life a flexible, collection-style approach where each property reflects its own identity and local flavor yet remains unmistakably Hyatt in quality and care. The Unscripted by Hyatt brand has over 40 hotels globally in active discussions to join the brand. Hyatt's focus on its Essentials portfolio is part of its insights-led evolution to deepen and enrich experiences for guests and owners within five distinct brand portfolios. As Hyatt scales its select service offerings within its Essentials portfolio, it is simultaneously expanding its Lifestyle and Luxury portfolios to grow in more markets, with more members, for more stay occasions. The Lifestyle portfolio added more than 30 new properties and 3,500 rooms between the first quarter of 2024 and the first quarter of 2025, including exciting openings and the acquisition of Standard International's brands. The Standard, The StandardX and Bunkhouse Hotels are generating strong demand from guests, group customers, and owners alike as Hyatt increases its lifestyle offerings. The recent formation of Hyatt's Lifestyle Group, led by Amar Lalvani, President & Creative Director, is focused on enhancing Hyatt's leading position in the lifestyle segment. Hyatt's growing Luxury portfolio invites guests to experience a curated assortment of brands that span cultural immersion, transformational wellbeing, residential modern elegance, and more. With brands like Park Hyatt which combines sophistication with understated luxury, the culturally rich and environmentally conscious Alila, and the compilation of independent, one-of-a-kind luxury hotels in The Unbound Collection by Hyatt, Hyatt's Luxury portfolio continues to see strong, sustained demand from guests and owners alike, At the end of the first quarter of 2025 compared to the same period last year, the number of rooms in the Luxury portfolio has grown by more than 5%. As an extension of Hyatt's luxury growth, Hyatt is also seeing increasing demand for its branded residences. Hyatt's growing branded residential portfolio includes brands like Park Hyatt, Thompson Hotels, Andaz, The Standard, Miraval, and more. With more than 50 branded residential projects open or in its pipeline around the world, Hyatt's rich legacy in luxury enables the company to redefine residential living excellence. Sage Hospitality announced a partnership with CL Hotels. The partnership brings three lifestyle hotels into the Sage Hospitality management portfolio and marks the beginning of a long-term collaboration between the two organizations, each dedicated to creating thoughtful and immersive hospitality experiences in high-demand leisure and urban destinations. Sage Hospitality will oversee all operations at the hotels, with support from Sage Restaurant Concepts, on food and beverage operations. The hotels include: Hotel La Jolla, A Curio Collection Hotel, a 110-room coastal retreat in San Diego. Following a multi-million dollar renovation, the hotel now features refreshed guestrooms, expansive event space, and two distinct dining concepts. The Coachman Hotel is a 104-room boutique hotel in South Lake Tahoe featuring community-focused spaces like an outdoor pool, fire pits, and a café-bar. Located in the heart of Miami Beach, Circa 39 is a vibrant 97-room hotel featuring lush courtyards, a pool, restaurant and beach service. As part of its long-term vision for the property, CL Hotels is undertaking a multi-million dollar renovation and rebranding, with Circa 39 set to join the Vignette Collection by IHG. Swire Properties sold the 2.8-acre site of its once-planned office supertall in Miami's Brickell to the Melo Group for $211.5 million in an all-cash deal, according to The Real Deal. Swire Properties hired CBRE to market the One Brickell City Centre property for sale earlier this year, after officially pulling the plug on the project due to the challenging office market. Swire Properties plans to use proceeds from the sale of the Brickell site for its planned Mandarin Oriental-branded condo and hotel project on nearby Brickell Key, which has more than $1 billion in presales. The long-shuttered Bonneville Hot Springs Resort & Spa, in North Bonneville, Washington, has reopened. New owner Sazzadur Rahman of Fusion Lodgingpaid $12.5 million for the property and $4 million to upgrade the rooms, pool and other parts that had been closed for almost nine years, and has more plans to enhance the property. The property features a new restaurant and bar, coffee shop, full-service spa, indoor pool and hot tub, outdoor hot springs pool and a children's pool. The Stanton House at The Whaler's Inn is opening on June 10, 2025, in Mystic, Connecticut. The expansion introduces 10 luxurious suites and the main floor functions as an event space. Wellington Lifestyle Partners is moving ahead with plans for a mini-downtown within Wellington's horse country. The village planning board has granted first approvals for The Marketplace, which would feature restaurants, shops, an 80-room hotel and 89 luxury condos on 17.8 acres in Wellington, Florida. The Wellington Village Council is scheduled to consider the project June 10. JLL's Hotels & Hospitality Group arranged a $136 million refinancing for the Fairmont Orchid located on Hawaii's Big Island. JLL's Hotels & Hospitality Group worked on behalf of the borrower, Mirae Asset Global Investments Co., Ltd., to secure a five-year, fixed-rate loan through New York Life Real Estate Investors. The Fairmont Orchid boasts 540 keys, oceanfront pool, full-service spa, a fitness center, retail shops, a ten-court tennis facility, seven onsite food and beverage outlets and approximately 108,000 square feet of meeting space. The property owner, Mirae Asset Global Investments Co., Ltd. Is undertaking a multi-year, $110 million renovation project with Phase 1 scheduled for completion this year. Personnel Highlights Hotel Equities, Atlanta, has appointed Juan Corvinos as president of the newly launched Caribbean & Latin America division to further develop the company's third-party management business in the region. HE CALA is launching with two dedicated verticals: an All-Inclusive Resorts and Urban and Lifestyle Hotels. HE's CALA portfolio is currently comprised of nine properties and nearly 1,000 hotel rooms under development in the region, including locations in Curacao, Dominica, Grenada, Mexico, St. Thomas and Trinidad & Tobago. Corvinos most recently served as senior vice president of Development, Architecture, Design & Construction for Latin America for Hilton. Majestic Hospitality named David Kuperberg managing director of real estate. In his new role, Kuperberg will bring a strategic and hands-on approach to working with hotel developers and owners. Kuperberg joins Majestic Hospitality from Hyatt, where he played a key role in the growth and success of the Dream portfolio after Hyatt's acquisition of Dream Hotel Group.
Skift
4 days ago
- Business
- Skift
Everhome Suites Expands U.S. Footprint
The DJIA rose 117 points, the Nasdaq was up 75, the S&P 500 rose 24 points and the 10-year treasury yield was down .05 to 4.42%. Lodging stocks were modestly higher. Jefferies reported on a meeting they held with Ryman Hospitality Properties management. They liked what they heard as the firm upped their price target to $115 from $109 while maintaining their Buy rating. The key focus of the meeting was on the recently announced acquisition of the JW Marriott Desert Ridge, along with the opportunities for Opryland Entertainment Group. The JW Marriott purchase provides RHP access to Phoenix, the 7th largest convention market in the U.S. RHP sees an opportunity to capitalize on shifting mix toward business groups versus leisure. Jefferies sees an opportunity to expand the property over time. The transaction is expected to close in late 2Q or early 3Q. As for the OEG, Jefferies said it presents a future value-capture opportunity that seems highly likely to occur in the medium term. STR reported U.S. lodging data for the week ended May 24th. U.S. hotel RevPAR rose 1.1% year over year with rates up 1.5%. Group RevPAR rose 6%. Everhome Suites continues to grow its nationwide footprint with the opening of six new properties and three groundbreakings. Choice Hotels now has 14 Everhome Suites open, 19 under construction, and more than 60 in the pipeline. The brand is on track to have nearly 25 hotels open by the end of the year. The newly opened and under-construction hotels were developed with longtime collaborators of Choice Hotels and Highside Companies. These include: the 114-room Everhome Suites Bastrop, Texas, opened in February 2025. The 122-room Everhome Suites Waco, Texas, opened in March 2025. The 122-room Everhome Suites Brownsville, Texas, and the 122-room Everhome Suites El Paso, Texas, opened in April 2025. Opening in June 2025 is the 114-room Everhome Suites Amarillo, Texas. The Everhome Suites Georgetown, Texas, broke ground in March 2025 and is scheduled to open in September 2026 with 115 guestrooms. In Arizona, the 122-room Everhome Suites Yuma will open in July 2025. Everhome Suites Salem, Oregon, broke ground in April 2025 and is slated to open in the third quarter of 2026 with 114 guestrooms and the Everhome Suites Dayton, Ohio, will break ground in June 2025 and is scheduled to open in the first quarter of 2027 with 114 guestrooms. The Talbott, a historic landmark in Chicago's Gold Coast, has completed a full-scale renovation and officially joins Marriott Bonvoy's Autograph Collection. From check-in to room relaxation, the renovation re-imagined every aspect of the property, including all 178 guestrooms, public spaces, and event areas. The Hilton New York Fashion District unveiled a fresh new look as part of the extensive property-wide renovations. The property updates include a complete refresh of all 280 guestrooms, public spaces, and meeting areas. Managed by Aimbridge Hospitality, the Hilton New York Fashion District features a rooftop bar, live music programming, modern dining options, a fitness center, and a business center. Hilton announced the signing of a branding and management agreement with Wine Country Hospitality Partners, LLC for the new build Waldorf Astoria Texas Hill Country and Waldorf Astoria Residences Texas Hill Country, marking the debut of Waldorf Astoria Hotels & Resorts in the Lone Star State. The project is expected to open in 2027 and will be managed by Hilton. The property will encompass 60 dedicated hotel guestrooms and suites, 37 branded multi-bedroom resort villas eligible to participate in a hotel rental program as 74 additional keys, and 50 branded private residences. The resort will also include five food and beverage concepts, a spa and fitness center, two resort-style pools, and more. The 253-room Embassy Suites by Hilton located next to the Charleston Area Convention Center in North Charleston, South Carolina, has completed a $12 million renovation. The renovation included improvements to the guest suites and event venues and expanding the common areas and dining spaces. The renovation also included technology upgrades in the conference areas and suites as well as behind-the-scenes updates to the heating and cooling systems. The Embassy Suites by Hilton is owned by Atrium Hospitality. Pacific Waters Spa at Hyatt Regency Huntington Beach Resort unveiled a curated selection of treatments catering to the needs of those seeking enhanced recovery and overall well-being. The spa's latest offerings include Halotherapy Infrared Sauna; Luminova Illuminating Wellness with Light; Avacen; Therabody Zero Gravity Experience; and the Sedona PEMF Mat. Hyatt Regency Huntington Beach Resort & Spa features 519 guestrooms including 58 suites, multiple dining outlets, a lagoon-style pool, and a retail plaza. The Trail Hotel, the world's first bourbon-infused luxury hotel, is now welcoming guests in Bardstown, Kentucky. Housed in a re-imagined historic property, the 95-room hotel boasts eight signature suites, a four-star dining experience, five distinct bars; an array of modern wellness amenities; and meetings and events spaces. The Lake County, Indiana Board of Commissioners selected the proposal from the city of Gary and Hard Rock Northern Indiana as the winning bid for the new convention center. The city and Hard Rock plan to build a 145,000-square-foot convention center and Hard Rock Hotel near the casino. The plan is for the property to also have space for two additional hotels, including one REVERB by Hard Rock Hotel, and two restaurants and retail spaces. The city of Gary beat out the city of Hobart for the Lake County Convention Center. The Adelphi Hotel in Saratoga Springs, New York, is putting the final touches on its more than $75 million renovation and expansion. The classic Victorian hotel's transformation includes more guestrooms, growing from 32 to 65, with modern bathrooms and radiant heated floors. There is also a gym, game room, gathering room with a bar, and two onsite restaurants. Hotel Wren, a re-imagined 1940's roadside motel, is now open in Twentynine Palms, California. The 12-room hideaway is a 21+ property and features a curated bodega of provisions and objects. SomeraRoad purchased the historic Hotel Bossert, in Brooklyn, New York, for $100 million. The seller, Beach Point Capital, provided a $71 million mortgage to SomeraRoad. The developer plans to restore the building and open it as residences. The team behind the development set to alter the base area of Keystone Resort, in Summit County, Colorado, is now shooting for a winter 2025 opening as opposed to the previously planned summer 2025 opening. The $300 million project, by Kindred Development Team, encompasses three buildings, including a 107-room hotel, three restaurants, 95 luxury condos, a ski school, event space, and more. The hotel and 62 residences, called the West Tower, are on track to be completed first, and the East Tower with the remaining 33 residences will follow. In the center of the three towers will be a courtyard with an Astroturf field, fire pits, and yard games. Walker & Dunlop, Inc. advised on an $86,000,000 loan to refinance the Caesars Republic Scottsdale, a Hilton Hotel, located in the epicenter of Scottsdale Fashion Square. Walker & Dunlop Arizona Capital Markets, partnered with Walker & Dunlop New York Capital Markets, to arrange the loan as an exclusive advisor to HCW Development. A regional bank provided the financing. The Caesars Republic Scottsdale boasts 265 guestrooms, three restaurants, two pools, and over 20,000 square feet of event space. DoveHill announced the successful exit of its preferred equity investment in the Courtyard New York Manhattan Chelsea, delivering an impressive 18.4% IRR over a four-year hold period to its investors. DoveHill Sponsor Fund I was strategically raised during the Covid-19 pandemic to capitalize on distressed opportunities within the hospitality sector. DoveHill is raising its second fund, DoveHill Opportunity Fund 2, which will continue to pursue preferred equity investments in hospitality and direct equity stakes in distinctive experiential and lifestyle-centric hotels. Global Highlights InterContinental Hotels & Resorts, part of IHG Hotels & Resorts' luxury and lifestyle portfolio, announced a new property in Guayaquil, marking its first destination in Ecuador. Developed in partnership with BPO Consulting, InterContinental Guayaquil will offer 101 guestrooms, 11 suites and one Presidential Suite, a specialty restaurant, a poolside lounge, a resort-style rooftop pool, a spa, and a fitness center. It will also feature approximately 610 square meters of dedicated meeting and event space in addition to a signature Club InterContinental lounge. The hotel is set to open in 2027. Europe Highlights Yoomata Aldgate Property has acquired Challenger House in Whitechapel, London. The joint venture between Euragone Investment Management and Mata Capital paid Great Portland Estates £42 million for the asset together with a plot of undeveloped land. Challenger House comprises 180 rooms alongside a ground-floor restaurant and bar. Yoomata is planning to redevelop the site to eventually operate it under the Yooma Urban Lodge brand.
Skift
22-05-2025
- Business
- Skift
Marriott Debuts Its Newest Brand and Wyndham Debuts New Initiatives
Marriott International, Inc. announced the global launch of its new collection brand for the midscale and upscale lodging segments - Series by Marriott. Meanwhile, Wyndham had a flurry of announcements at its customer conference. The DJIA was down a point, the Nasdaq was up 53, the S&P 500 was down 3 points and the 10-year treasury yield was down .04 to 4.55%. Lodging stocks were modestly higher. BHR was the big mover, up 5% on the day. On the negative side of the Easter calendar shift, the U.S. hotel industry reported mixed performance results year over year, according to April 2025 data from CoStar. April 2025 (percentage change from April 2024): Occupancy: 63.9% (-1.9%) ADR: $161.28 (+1.8%) RevPAR: $103.11 (-0.1%). Among the Top 25 Markets, the highest occupancy level was seen in New York (+0.5% to 84.8%). Markets with the lowest occupancy for the month included Detroit (-2.3% to 57.4%) and Minneapolis(+2.7% to 60.9%). The highest gains across the metrics were seen in San Francisco/San Mateo: Occupancy (+14.0% to 69.6%), ADR (+20.5% to $227.44), and RevPAR (+37.45 to $158.36). The Top 25 Markets in aggregate showed higher occupancy than all other markets as well as a lower year-over-year decline (-1.3% vs. -2.3%). STR/CoStar reported U.S. hotel data for the week ended May 17. U.S. Hotel RevPAR was up 0.9%, with rates up 1.3% and occupancy down -0.4%, year over year. Group RevPAR was down -2.2%. Apple Hospitality announced its Board of Directors approved an extension until July 2026 of the company's existing share repurchase program. The extended program allows for the repurchase of up to $262.6 million of the company's common shares. Ryman Hospitality Properties said its underwritten public offering was upsized to 2,990,000 shares, sold at a price of $96.20 per share. That includes 390,000 shares sold following the quick exercise of the underwriters' overallotment option. The net proceeds of around $275 million will be used to fund a portion of the $865 million purchase price of the pending acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix, AZ. The balance will be funded with cash on hand and a private placement of $626 million senior notes due 2033. Tru by Hilton unveiled a refreshed prototype, featuring purposeful changes designed to update comfort, flexibility, and the overall guest experience. Enhancements to guestrooms include a redesigned mobile rolling desk, improved lighting, and updated furnishings. The lobby now has new soft seating and high-back chairs. A redesigned media wall brings Tru's lobby games front and center, encouraging play and interaction. On every guest floor, the addition of a heat and cool station near the elevator gives travelers access to microwaves, ice machines, and water bottle refill stations. As Tru by Hilton celebrates the opening of its 300th hotel, the brand is continuing its strategic growth around the world. Recent and upcoming highlights include: Tru by Hilton Houston Downtown Convention Center, opening in March 2025. Tru by Hilton Hanoi Station, opening April 2025 in Vietnam. Tru by Hilton Montreal Centre-Ville, opening in the summer of 2025 in Canada; and Tru by Hilton Saltillo, opening in the summer of 2025 in Mexico. Wyndham officially kicked off its 2025 Global Conference in Las Vegas and unveiled new initiatives to drive owner success and strengthen hotel performance. Anchored by its OwnerFirst approach, Wyndham is redefining hotel ownership through bold advancements across technology, sourcing, loyalty, and marketing. Some of the initiatives announced include: New best-in-class technology building on its best-in-class tech stack, the newly launched Wyndham Connect PLUS, which enhances Wyndham's existing guest engagement platform by further embedding AI across the guest journey. Simplified sourcing solutions - great guest experiences start with well-run operations and Wyndham is investing in both. That includes Wyndham Marketplace, a new hotel shopping platform, that, when combined with the new Wyndham PriceIQ, makes it faster and easier for owners to find, compare, and purchase brand-approved products at deeply negotiated rates. Meanwhile, a new partnership with sbe's Everybody Eats food and beverage solution is helping hotel owners offer chef-driven, restaurant-quality offerings without the need for extensive equipment or large back-of-house operations. Through a partnership with HUB International, Wyndham franchisees now have access to transparent and tailored solutions designed to ensure compliance with Wyndham brand standards, improve coverage, and lower costs. Wyndham Rewards is taking member benefits to the next level with the launch of Wyndham Rewards Experiences. Leveraging partnerships with world-renowned sports and entertainment brands, members can now use their points to bid on premier live events as well as unforgettable, once-in-a-lifetime experiences. Wyndham Rewards members will also soon have access to new dining perks, thanks to an industry-first partnership between Wyndham and Applebee's Neighborhood Grill & Bar. Marketing that meets guests where they are capitalizing on the power of its unparalleled portfolio, Wyndham is also taking steps to help capture more demand at lower costs for its thousands of franchisees. This summer, the company will launch a bold new portfolio-wide marketing campaign: Where There's a Wyndham, There's a Way. Uniting for the first time, both Wyndham Hotels & Resorts and Wyndham Rewards under one singular identity, the campaign brings to life Wyndham's mission of Making Hotel Travel Possible for All. A new 93-room Hilton Garden Inn has opened in downtown Dayton, Ohio, attached to the historic Dayton Arcade. While the actual grand opening for the hotel isn't slated until sometime in June, the North Arcade, which will feature shopping, restaurants, and more, will be having its grand opening on June 6. 1 Hotels announced the opening of 1 Hotel Seattle. Set in Seattle's South Lake Union neighborhood, the hotel offers 153 guestrooms including 45 suites, a signature restaurant, café and bar, and six designed event spaces. Populus Hotels announced that Populus Seattle is now open in the historic Pioneer Square. Created by Urban Villages and brought to life in collaboration with Aparium Hotel Group, the 120-room boutique hotel offers multiple dining venues and Pioneer Square's first and only rooftop bar, and two flexible meeting and event spaces. Daly Seven announced the development of a new Holiday Inn Express & Suites and an adjacent restaurant out parcel in Lynchburg/Campbell County, Virginia. The 113-room hotel is currently under construction. The new hotel replaces the existing Holiday Inn Express on Seminole Avenue and is scheduled to open in Fall 2026. Bradley, Illinois, will see the construction of a new 73-suite Staybridge Hotel, and the project is anticipated to carry with it a development cost of $14-$15 million. The complex will share an indoor walkway with the neighboring 92-unit Holiday Inn Express & Suites, as both sites will be owned and operated by Dr. Sanjay Patel. According to Patel, the two hotels would share common areas such as the front desk and the pool. Kalahari Resorts & Conventions has launched the Kalahari Adventure Collection property tier defined by 'distinctive, experience-driven accommodations,' as the company describes them. The first destination under this banner is now underway in Wisconsin Dells, Wisconsin, with a mix of elevated treehouses, lakefront cabins, and villas, set to open in 2026 in the woods neighboring Kalahari's flagship resort. Additionally, Daylene's Supper Club, a 10,000-square-foot restaurant and another key portion of the project, broke ground on May 19. Sojourn Lodging, a new boutique tiny house hotel concept, is now open in Sevierville, Tennessee. The resort includes a variety of onsite amenities, including a pickleball court, community fire pits, walking trails, indoor gathering space at the Welcome Center, and a mountain observation deck. San Antonio's La Cantera Resorts has revealed a $40 million guestroom makeover. The interior renovations took 11 months to complete and include all 496 guestrooms and 34 private villas. Still to come is The Calera, a new 5,600 square foot weddings and events venue modeled after the King Ranch main house. According to a resort rep, construction is currently slated to finish in the fall. Field & Stream Lodge Co. announced the opening of its flagship property: Field & Stream Bozeman. The 179-room lodge offers an indoor pool, an outdoor hot tub, a landscaped courtyard, the Supply Shop, two distinct restaurant and bar concepts, and The Summit Room, a 3,600 square foot private event space. Field & Stream Bozeman was designed by AJ Capital Partners, drawing inspiration from Bozeman, Montana's rugged natural beauty. Hershler Hospitality announced the sale of the Shaw House, a historic 7-room inn located in Ferndale, California. The seller was a private individual; the buyers were two private individuals. Global Highlights Marriott International, Inc. announced the global launch of its new collection brand for the midscale and upscale lodging segments - Series by Marriott - as the company continues to expand its lodging offerings around the world. Series by Marriott marks its initial launch through a founding deal with Concept Hospitality Private Limited (CHPL) in India, a key growth market for Marriott. Under the strategic agreement between CHPL and Marriott, CHPL's flagship brands The Fern, The Fern Residency, and The Fern Habitat will affiliate with Series by Marriott on an exclusive basis across India and Marriott will make a small equity investment in CHPL. The Fern portfolio is currently comprised of 84 open properties and 31 executed pipeline deals, totaling 115 properties and approximately 8,000 rooms. Fern properties are expected to join Marriott's portfolio in India over time following discussions with the third-party hotel owners and execution of long-term franchise agreements with those owners. For more context, see Skift's story. Personnel News JLL's Hotels & Hospitality Group announced Wyatt Krapf has joined the firm as a Senior Director in Tampa, Florida. As part of JLL's Debt Advisory team, Krapf will specialize in hotel debt and equity placement transactions throughout North America, in addition to debt coverage across all asset classes in Central Florida. Krapf brings over a decade of experience. His career includes six years with HFF, three years with Berkadia, and two years with Hodges Ward Elliott.
Hospitality Net
21-05-2025
- Business
- Hospitality Net
Field & Stream Lodge Co. by Starwood Capital Group
Field & Stream Lodge Co. is a hospitality platform that inspires more people to cherish adventure and the outdoors through thoughtfully designed lifestyle lodging. Rooted in the legacy of Field & Stream, an iconic American brand established in 1871, Lodge Co. reimagines this heritage for today's outdoor enthusiasts—families, first-timers, seasoned adventurers, and everyone in between. With a mission to make the Great Outdoors more accessible, it offers inviting, adventure-ready accommodations designed for comfort, connection, and exploration in some of America's most breathtaking natural destinations, including national parks, beaches, and ski towns. Founded by Starwood Capital Group and AJ Capital Partners, the platform plans to open properties nationally, creating a gateway for guests to immerse themselves in nature in unforgettable ways. For more information visit and follow @fieldandstreamlodges on Instagram. Field & Stream Lodge Co. is a brand by Starwood Capital Group Starwood Capital Group operates 4 brands
