HNR Development Update Issue: April, 20 2023 | Read Online
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Weekly Development Update
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Although hotels showed continued positive price momentum in all regions from the prior year (year over year), prices faltered in some regions from the prior quarter, especially in the Mid-Atlantic and to a lesser extent in the South Atlantic regions. Read more
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HVS Brokerage & Advisory presents the opportunity to acquire the 82-key TownePlace Suites by Marriott Lake Jackson Clute, an extended-stay, limited-service, interior-corridor hotel asset strategically located between Downtown Lake Jackson and Freeport, Texas. Read more
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Hotel Development Vietnam
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Marriott International, Inc. today announced that it has signed agreements with Vinpearl, Vietnam’s largest hospitality and leisure chain, for an additional seven hotels and resorts, comprising more than 2,500 rooms. Read more
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Hilton announces the signing of Victoria Marina Hotel Villeneuve-Loubet, Tapestry Collection by Hilton, the brand’s first hotel on the French Riviera. Read more
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Hotel Transaction Colorado
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Chartwell Hospitality today announced the sale of their Home2 Suites by Hilton property located in Colorado Springs, Colo. to ARA US Hospitality Trust, a Singapore-based select service hospitality trust. Read more
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Hotel Development Saudi Arabia Riyadh
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The new-build hotel, located in the capital’s central Olaya district, will comprise of 200 rooms and is expected to open in 2026. Read more
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The announcement is supported by signed letters of interest in development agreements from multiple developers for more than 100 Hyatt Studios hotels, with construction expected to begin in 2023 and the first hotel expected to open in 2024. Read more
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Hotel Development Bangladesh
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Indian Hotels Company (IHCL) today announced the signing of two new hotels in Dhaka, Bangladesh. The Taj and Vivanta branded hotels will be a part of an integrated complex that will also include hi-end retail. These are Greenfield projects. Read more
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Hotel Portfolio Transaction
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Tao Group will complement Mohari's existing portfolio of luxury and lifestyle properties and operating companies, including the Peninsula Papagayo in Costa Rica, anchored by a Four Seasons luxury resort; Centro Canalejas Madrid, featuring the Four Seasons Madrid; and The Ritz-Carlton Yacht Collection. Read more
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Hotel Development Louisiana
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The Cordish Companies yesterday presented master project plans to the Louisiana Gaming Control Board for the redevelopment of Diamond Jacks Casino & Hotel in Bossier City. Cordish intends to transform the property into a world-class Live! casino resort and entertainment destination. Read more
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Hotel Transaction New York City
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The eight-story brick tower, which opened as The Williamsburg Hotel in 2017, is located at 96 Wythe Ave. on the corner of North 10th Street in the heart of Brooklyn's cultural district for music, art, nightlife, dining, shopping, prime real estate and more. Read more
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Real Estate Market Trends
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Organizations are beginning to use buildings to do good Read more
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Hotel Construction Pipeline U.S.
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After three consecutive month-over-month increases, the overall number of U.S. rooms in construction fell slightly in March, which aligns with patterns in previous years. Among the chain scale segments, luxury shows the highest number of rooms as a percentage of existing supply. Read more
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As economy and budget hotels are nearing the end of their economic life, some properties are finding new capital for renovations from buyers seeking to convert properties to residential use. In this article, we provide a sample list of hotels that have gone through this metamorphosis. Read more
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