HNR Development Update Issue: June, 9 2023 |  Read Online

The first Scandic Go hotel will open on Upplandsgatan in Stockholm in an existing Scandic hotel that is undergoing renovations before it reopens under the new brand. This is where the concept will be tested before being rolled out in more hotels and markets. Read more

The resort will become the first Marriott branded all-inclusive resort in the world Read more

Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Grupo Murano for Hyatt Vivid Grand Island, an adults-only resort and Dreams Grand Island, a family-friendly 616-room luxury resort. Read more

Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into management and related agreements with LFG Property Pty Ltd for a Caption by Hyatt hotel in Sydney, Australia. Read more

Marriott International, Inc. today announced it has signed an agreement with Hiap Hoe Limited, through HH Properties Pte. Ltd, to bring the Aloft Hotels brand to Singapore. Following a strategic conversion, the signing of the 785-room hotel expects to open in in Q3 2023, marking the Aloft brand's debut in Singapore and the largest Aloft hotel in the world. Read more

SMIA's investment in Waldorf Astoria Monarch Beach consists of an approximately 40% interest in the property with the option to increase its ownership through one or more future transactions. Read more

Included in the acquisition of Kimpton Hotel Vintage Seattle is the Hotel Vintage brand. The Vintage brand was the first brand launched by Bill Kimpton in 1983 with the creation of Hotel Vintage Court in San Francisco. It later included Hotel Vintage Seattle and Vintage Plaza in Portland (currently known as Hotel Vintage), which was the first Kimpton hotel outside of California. Read more

Park Hotels & Resorts Inc. (NYSE:PK) today announced that, starting in June, it ceased making payments toward the $725 million non - recourse CMBS loan which is scheduled to mature in November 2023, and is secured by two of its San Francisco hotels - the 1,921 - room Hilton San Francisco Union Square and the 1,024 - room Parc 55 San Francisco. Read more

Procaccianti Companies Expands Upscale Boutique Hotel Collection with Acquisition of the Presidents' Quarters and Development of the Sabal House Savannah Read more

CBRE is the exclusive agent in connection with the solicitation of offers to acquire the fee-simple interest in the 146-room Comfort Inn O’Hare Convention Center located in Des Plaines, Illinois. Read more

Sonesta International Hotel Corporation (Sonesta) today announced the debut of two soft brands within its expanding portfolio, Classico, A Sonesta Collection (Classico) and MOD, A Sonesta Collection (MOD). Read more

Marriott is announcing its plans to launch a new brand, which has not yet been named, but is currently being referred to as Project MidX Studios. The affordable midscale extended stay brand is intended to deliver reasonably priced modern comfort for guests seeking longer stay accommodations in the U.S. & Canada. Read more

By 2027, the company expects to have more than 150 branded residences in operation, an increase of more than 300%. Read more

Hyatt expects to maintain industry-leading net rooms growth into the future with increased focus on extended-stay in the Americas in addition to expansive opportunities globally across brand portfolio Read more

Service Properties Trust (Nasdaq: SVC) announced today that it has acquired the 250-room Nautilus Hotel located at 1825 Collins Avenue, Miami Beach, FL for $165.4 million, or approximately $661,600 per key. Read more

The Hotel Cost Estimating Guide evaluates costs in a variety of hotel tiers including Economy, Extended Stay, Midscale, Upscale, Upper Upscale, and Luxury. Within each tier, costs are separated into the categories of Guestrooms; Guest Bathrooms; Guestroom Corridors; Public Areas; Food & Beverage Outlets; Function Space; Recreational Facilities; Infrastructure; and Common Additives. Read more

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