HNR Development Update Issue: May, 19 2023 | Read Online
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Weekly Development Update
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Hotel Development Bosnia & Herzegovina
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Hotel Neretva Mostar, Tapestry Collection by Hilton, Mostar and Hampton by Hilton Sarajevo City Centre mark the first Hilton hotels in the country Read more
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Le Méridien Al Marjan Island Resort & Spa is anticipated to feature 350 contemporary guest rooms with uninterrupted ocean views. Read more
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Hotel Financing Manhattan
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The loan was secured by the Hudson Hotel, a 24-story, former 878-key hotel which is being converted into 441 multifamily units and 51,474 square feet of retail space. Read more
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Hilton (NYSE: HLT) today announced a franchise agreement with Blackstone to open DoubleTree by Hilton Berlin Ku’damm. The hotel is set to become the first DoubleTree by Hilton in Berlin, following an extensive multi-million euro remodelling. Read more
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This is a tremendous value-add opportunity given its prime location near an international airport, proximate to a strong Downtown and growing City in-the-midst of ~$50 billion in new economic development. Read more
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It will be located on a southerly white-sand cove on Megalonisos, one of the 10 Petalioi islands and islets with some of the finest beaches in the 'Greek Maldives'. Read more
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Hotel Development Saudi Arabia
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With a Portfolio of 42 Hotels in Saudi Arabia and 56 More Underway, Accor Expects to Double its Presence in the Kingdom By 2027 Read more
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Indian Hotels Company (IHCL) this week announced the signing of a Taj branded hotel at Indira Gandhi International Airport’s Terminal 3 in New Delhi. Read more
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Hotel Development Saudi Arabia Riyadh
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Rotana announced its pipeline across the Kingdom of Saudi Arabia at the Future Hospitality Summit (FHS) 2023, signing four 'Edge by Rotana' and one 'Rayhaan by Rotana' property in partnership with Memar Development & Investment. Read more
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Hotel Development California
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The 104-room hotel operated by Quorum Hotels & Resorts, with design by Level 3 Design Group, received a fresh look for its guest rooms and suites, 1,200 square feet of meeting space, state-of-the-art fitness center, and lobby, which includes the addition of a new, full-service Lobby Bar. A new rooftop restaurant and bar will debut later this summer. Read more
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Fairmont Hotels & Resorts in partnership with Dubai-based real estate development and investment firm, Select Group, today announced the signing and redevelopment of the historic The Mere in Cheshire. Read more
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Significant Investments into Resort Amenities have caused Real Estate Values to Soar over 350% since the Resort's Acquisition in 2018 Read more
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Are they cautiously optimistic? Are they sensibly looking at the long-term play? On the first day of the International Hotel Investment Forum, there were almost as many opinions as there were attendees of the conference. Read more
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Zoëtry Halkidiki, a new boutique, all-inclusive resort, expected to mark the second Zoëtry Wellness & Spa Resorts property in the Inclusive Collection, part of World of Hyatt European portfolio Read more
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JLL Capital Markets announced today that it arranged $76 million in acquisition financing for the St. Regis, a five-star, 192-key, luxury hotel in Chicago. Read more
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Hotel Development Saudi Arabia
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IHG Hotels & Resorts has signed a Master Development Agreement (MDA) with Tashyid for Hotel Operations, which will see the development of 12 hotels and 2,500 keys under the Holiday Inn Express brand across the Kingdom of Saudi Arabia. Read more
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IHG Hotels & Resorts announced an agreement with AXA Life Insurance Company to open InterContinental Sapporo in late 2025. InterContinental Sapporo will be IHG’s fifth hotel in Hokkaido, its first luxury hotel In Sapporo and its eleventh InterContinental-branded hotel in Japan. Read more
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Hotel Development Melbourne
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Novotel Melbourne Box Hill will feature 132 guestrooms, conference and events facilities including a 200-capacity ballroom. Read more
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Hotel Transaction Pennsylvania
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Shaner Hotels today announced the acquisition of the 86-room Hampton Inn & Suites by Hilton Hershey in Pa. Shaner also will operate the property and plans to implement $1.2 million in renovations to completely remodel guest rooms. Read more
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Four Seasons Hotels and Resorts is concluding management of Palazzo Tornabuoni Firenze as of December 31, 2023 on expiration of the current term of its agreement. Read more
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Hotel Transaction Manhattan
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JLL Hotels & Hospitality announced today that the sale of a 75% interest in the Mandarin Oriental, New York, to affiliates of Reliance Industries Ltd. has been completed. JLL represented the sellers in the sale of their ownership stake. Read more
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CBRE Lending Momentum Index Declines 33% From Previous Quarter Read more
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Hotel Construction Pipeline Asia Pacific
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The region currently has 943 projects under construction, with 213,900 rooms, and 300 projects with 59,170 rooms scheduled to start construction in the next 12 months. Read more
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Canadian Hotel Investment Trends
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Following a swift rebound in 2022, Canadian hotel investment sales surpassed $300 million during the first quarter of 2023. Read more
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