HNR Development Update Issue: July, 14 2023 |  Read Online

HNR News

Weekly Development Update

HOTEL DEVELOPMENT NEWS

 

Hotel Transaction Virginia

JLL Brokers Sale of Home2Suites by Hilton in Blacksburg, Virginia and Residence Inn Tuscaloosa in Tuscaloosa, Alabama

JLL’s Hotels & Hospitality group led sales efforts for properties near major universities in Alabama and Virginia Read more

 

HVS Webinar

HVS Webinar: Higher Interest Rates Are Here to Stay but the 'Old Normal' Will Come Back - By Russell Kett

In the latest of HVS’s series of webinars, 425 attendees heard a topical discussion from a line-up of expert speakers on the current status of debt finance within the Hotel sector. Read more

 

Hotel Transaction Mexico Yucatán

Transat Sells Land in Puerto Morelos, Mexico, for US$38 Million to Finest Resorts

Transat A.T. Inc. entered into a sale and purchase agreement for its land property located in Puerto Morelos, Mexico, for US$38 million to Finest Resorts, a luxury resort group, part of The Excellence Collection. Read more

 

Radisson Hotel Group Development Update

Radisson Hotel Group Reports 100+ Signings and Openings for H1 2023

Radisson Hotel Group has had a strong H1 2023 with strategic growth across the portfolio being delivered in APAC and in EMEA with milestone openings and signings. Read more

 

Hotel Development U.K.

Wyndham Teams Up with Roadchef to Launch First Super 8 Hotel in the UK

Wyndham Hotels & Resorts and Roadchef, one of the UK’s leading motorway service area operators, today announced the upcoming opening of Super 8 by Wyndham Chester East, the brand’s first entry in the UK. Read more

 

Hotel Development Bhutan

Holiday Inn Thimphu to Open Q2 2025 in Bhutan

IHG Hotels & Resort has announced the signing of a management agreement with T&K Construction Private Limited for its first Holiday Inn hotel in Bhutan. Read more

 

Hotel Development Bangkok

180 Room Holiday Inn Express & Suites Bangkok Asok Announced for 2025

IHG Hotels & Resorts announced the signing of Holiday Inn Express & Suites Bangkok Asok with new partner A.P.K Real Estate Co., Ltd. Read more

 

Hotel Development Europe

Sonder Adds 5 New Properties in France, Italy, and Spain

Sonder Holdings Inc. (NASDAQ: SOND) continues to expand in Europe, adding 5 new properties to its existing portfolio of 54 properties across key travel destinations in EMEA. Read more

 

Hotel Transaction Adelaide

251 Key Sofitel Adelaide Hotel Sold for Approximately AUD$154,000,000

Salter Brothers, one of the region’s most active hotel investors, has exchanged contracts to acquire the multi-award winning Sofitel Adelaide Hotel for approximately $154,000,000. Read more

 

Hotel For Sale Melbourne

Quincy Hotel in Melbourne Listed for Sale

Melbourne’s award-winning Quincy Hotel, on the iconic Flinders Lane, has been listed for sale by international hotel owner InterGlobe Enterprises. Read more

 

Hotel Transaction Florida

Sleep Inn & Suites Lakeland I-4, Florida Sold for $4,525,000

DSH Hotel Advisors represented the seller, Gardenia Inn Inc., and the buyer, Brahmas Lakeland LLC. Read more

 

Hotel For Sale Colorado

Hilton Garden Inn Denver Tech Center Hotel in Denver, Colorado Listed for Sale

CBRE Hotels Institutional Group presents the Hilton Garden Inn Denver Tech Center, a premier select service, significant value add, fee simple, 180 key offering located in the heart of Denver’s premier economic trading center for local, national, and international business. ​​​​​​​ Read more

 

U.S. Hotel Transaction Trends

Slow US Hotel Deals Pace Likely To Continue in Second Half of 2023 - CoStar

In a review of hotel transactions for the first six months of the year, hotel industry experts say that the cost of capital and sellers holding out for a higher price while would-be buyers seek a better deal are slowing the pace, but there's potential for a turnaround. Read more

 

Hotel Development Germany

Steigenberger Hotel Bielefelder Hof Announced for 2024

The Steigenberger Hotels & Resorts brand is expanding its portfolio: LFPI Hospitality Group and Deutsche Hospitality have signed a franchise agreement for a hotel in Bielefeld. Read more

 

Hotel For Sale Melbourne

Ritz-Carlton Hotels in Perth and Melbourne Listed for Sale

Hong Kong’s Far East Consortium is moving to sell two of Australia’s most prestigious hotels - The Ritz-Carlton, Melbourne and The Ritz-Carlton, Perth - amid strong demand for trophy luxury hotel investment opportunities in Australia. Read more

 

Hotel Development London

Mandarin Oriental to Open New Luxury Hotel and Branded Residences in 2028 on London's South Bank

The hotel will be part of the larger Bankside Yards development, which serves to reconnect the space between the Tate Modern and Blackfriars Station and is centred around the historic railway arches that run through the heart of the site. Read more

 

Hotel For Sale Chicago

Under Construction Hampton Inn Chicago Southwest Listed for Sale

CBRE Hotels presenst the opportunity to acquire the fee-simple interest in the under construction 158-room Hampton Inn in Orland Park, IL. Read more

 

Hotlel Development Turks & Caicos

Loren Hotel Group Breaks Ground in Turks & Caicos for the Loren at Turtle Cove Hotel and Residences

Inspired by the sea and designed to redefine luxury in the Caribbean, The Loren at Turtle Cove will open in 2026 with six private beachfront villas, 25 condominium units and 33-guest suites. Read more

 

Hotel Transaction Maryland

Westin Annapolis Hotel in Maryland Sold

District Hospitality Partners, a privately held hospitality investment group that owns properties nationwide, announced today the acquisition of the Westin Annapolis. Read more

 

Hotel Transaction California

Four Points by Sheraton San Rafael Marin County, CA Sold for $38 Million

Equinox Hospitality has acquired the Four Points by Sheraton San Rafael Marin County for $38 million. This acquisition marks Equinox's fifth successful addition to its hotel portfolio in the past year. Read more

 

Clarion Pointe Development Update

Clarion Pointe Grows to 60 Hotels Open

Clarion Pointe, a midscale select-service brand founded in 2018 and franchised by Choice Hotels International, Inc. (NYSE: CHH), is continuing its expansion with 60 hotels open and more than 50 hotels in the pipeline. Read more

 

Hotel Development Crete

Curio Collection by Hilton Announces Beachfront Resort in Crete for 2026

Set to open in 2026, the 85-room hotel will take a prime beachfront location in the picturesque town of Chania and all guest rooms will feature a private pool. Read more

 

Hotel Development Pakistan

Hilton Garden Inn Hyderabad North to Open 2027 in Pakistan

Hilton (NYSE: HLT) has announced the signing of Hilton Garden Inn in Hyderabad. Set to open in 2027, Hilton Garden Inn Hyderabad North was signed with real estate development company Gohar Paradise and will bring the first Hilton Garden Inn brand hotel to Sindh, Pakistan. Read more

 

In Brief

 

Travel Deal Activity
Travel and Tourism Sector Deal Activity Down by 38.8% YoY in H1 2023

Hotel Development India
IHCL Debuts in Kolhapur, Maharashtra with the Signing of a Ginger Hotel

Hotel Transactions Europe
HVS Europe Hotel Transactions Bulletin Week Ending 7 July 2023

Hotel Development Philadelphia
Rivers Casino Philadelphia Plans Boutique Luxury Hotel in Fishtown

HVS Asia Pacific
HVS Asia Pacific Hospitality Newsletter - Week Ending 7 July 2023

Hotel Development Florida
The Ritz-Carlton, Naples, FL Reopens Following Expansion and Renovation Program

 

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