HNR Development Update Issue: July, 28 2023 |  Read Online

HNR News

Weekly Development Update

Wyndham Signs 60 New ECHO Suites Hotels Across the U.S. and Canada

Wyndham Signs 60 New ECHO Suites Hotels Across the U.S. and Canada

New multi-unit deals with established developers expand ECHO Suites' presence in Alabama, Iowa, Nebraska and South Dakota while launching the brand in Canada Read more

HOTEL DEVELOPMENT NEWS

 

Hotel Development Fort Lauderdale

Pier Sixty-Six Resort in Fort Lauderdale, FL Reborn Amid $1 Billion Redevelopment Project

Pier Sixty-Six Resort, the centerpiece of a $1 billion redevelopment project by Tavistock Development Company, is a renowned landmark that will reinforce its identity as one of the most esteemed resorts in Florida. Read more

 

Hotel Development Japan

Accor Accelerates in Japan with Agreement to Operate 23 Properties

Accor Signs Milestone Agreement With Ebisu Resort LLC, With 23 Properties set to Join the Group's Hotel Network by Q2 2024 Read more

 

Hotel For Sale Auckland

Nesuto Stadium Hotel and Apartments in Auckland Listed for Sale

One of Auckland’s largest hotels listed for sale Read more

 

Hotel Transaction New York City

Home2 Suites by Hilton New York Long Island City Hotel Sold

ffiliates of Paceline Equity Partners, LLC, a Dallas-based private equity manager, today announced that they have acquired the Home2 Suites by Hilton New York Long Island City, an extended stay, all-suite hotel located in Long Island City, New York. Read more

 

Accor Acquisition

Accor Enters into Exclusive Negotiations with Andera Partners and Partner Investors to Take over Potel & Chabot

Through its two houses, Potel & Chabot and Saint Clair, Momense has become the preferred caterer for prestigious events in France and the world over. Read more

 

Baymont by Wyndham Hotel in Lakeland, FL Sold

DSH Hotel Advisors announced the sale of the 67-room, interior-corridor Baymont by Wyndham in Lakeland, Florida for an undisclosed price on July 11, 2023 Read more

 

Hotel Transaction Pittsburgh

Holiday Inn Express & Suites Pittsburgh-South Side in Pittsburgh, Pennsylvania Sold

The Holiday Inn Express & Suites is situated on 1.73-acres at 20 South 10th St. The six-story hotel offers 600 square feet of meeting space, a fitness center, indoor pool and business center. Read more

 

Hotel Transaction California

Sonnenblick-Eichner Company Arranges $100 Million Sale of the Inn at Rancho Santa Fe, Rancho Santa Fe, California

Sonnenblick-Eichner Company, on behalf of Steve Hermann Hotels, has arranged a $100 million sale of The Inn at Rancho Santa Fe, an 85-room, full-service, luxury boutique resort located in north San Diego County’s exclusive enclave of Rancho Santa Fe, CA. Read more

 

Hotel Development Saudi Arabia

Equinox Hotels and Red Sea Global Announce Plans To Bring Luxury Resort to Amaala

Set to open as part of the first phase of development at Triple Bay, the Equinox Resort Amaala will be located adjacent to the Triple Bay Marina Yacht Club. Read more

 

Hotel Development Milwaukee

Historic Pfister Hotel in Milwaukee, Wisconsin Announces Extensive Renovations

The renovation, which began in June and is expected to cost approximately $20 million, will feature a full revitalization of the ballrooms and meeting spaces, followed by all-new guest rooms in its historic tower, and conclude with enhancements to the hotel’s iconic lobby, lobby bar, and Café at the Pfister. Read more

 

Hotel Transaction Arizona

23 Acre Doubletree Resort Scottsdale Paradise Valley in Scottsdale, Arizona Sold

The property spans more than 23 acres on Scottsdale Road and features 378 premium guestrooms, including 12 suites with panoramic views of the scenic areas surrounding Camelback & Mummy Mountains. Read more

 

Hotel Development Georgia

Wyndham Garden Hotel to Open 2025 in Forest Park, Georgia

HVS Hotel Management announced it has been selected to operate the to-be-built Wyndham Garden in Forest Park, Georgia. Construction on the property is expected to begin before year-end 2023, with an anticipated completion date of early 2025. Read more

 

Hotel Development Florida

Four Seasons to Open New Hotel and Private Residences 2026 in Downtown Jacksonville, Florida

Four Seasons Hotel and Private Residences Jacksonville will offer 170 luxuriously appointed rooms and suites, 26 Private Residences, and four dining and lounge outlets including a signature rooftop restaurant and bar, all-day restaurant, pool bar and grill, and lobby bar. Read more

 

Hotel Development Turkey

Ennismore Signs Its First Lifestyle Hotel in Turkey with Hyde Bodrum

Hyde Bodrum will be the first Hyde to offer an all-inclusive experience, as well as the brand's first destination in Turkey, set to open in early 2024. Read more

 

Hotel Development Europe

KSL Capital Partners Acquires a Majority Interest in Sereno Hotels

The founding families retain a significant interest, with Luis Contreras continuing as CEO Read more

 

Hotel Transaction Maryland

Rocky Gap Casino Resort in Flintstone, Maryland Sold for $260 Million

Century Casinos, Inc. (NASDAQ: CNTY) acquired the operations of Rocky Gap for approximately $56.1 million, subject to customary working capital adjustments, and VICI Properties Inc. (NYSE: VICI) acquired an interest in the land and buildings associated with Rocky Gap for approximately $203.9 million. Read more

 

Hotel Transaction Virginia

Hampton Inn Warrenton in Warrenton, Virginia Sold

The property, built in 2008, was purchased by Guests, Inc., based in Strasburg, Virginia, from Highlands of Warrenton LLC, based in Warrenton, Virginia. Read more

 

Hotel Development Jeddah

Regent Jeddah Hotel to Open Mid 2024

IHG Hotels & Resort has signed a management agreement with Almuhaysin Group to open the first Regent Hotel in the Middle East, in Saudi Arabia. Read more

 

Hotel For Sale San Antonio

Holiday Inn Express San Antonio North Riverwalk Area Hotel in San Antonio,TX Listed for Sale

CBRE Hotels is soliciting offers to acquire the fee-simple interest in the Holiday Inn Express in San Antonio North Riverwalk Area, Texas. Read more

 

In Brief

 


Certares Closes Inaugural Hospitality-Focused Real Estate Fund at $284 Million

HVS Asia Pacific
HVS Asia Pacific Hospitality Newsletter - Week Ending 21 July 2023

 

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