MARRIOTT EXPANDS CALA PORTFOLIO WITH ALL-INCLUSIVE RESORT: Marriott International has expanded its presence in Caribbean and Latin America (CALA) with the opening of its 500th property in the region. The Almare, a Luxury Collection Resort, Isla Mujeres, Adult All-Inclusive also marks Marriott’s first luxury all-inclusive property in Mexico and the 62nd luxury hotel in CALA for the Luxury Group by Marriott International, which comprises seven brands (the Ritz-Carlton, Bvlgari Hotels & Resorts, St. Regis Hotels & Resorts, EDITION, The Luxury Collection, JW Marriott and W Hotels). The adults-only resort features 109 suites, each offering ocean views, private balconies along with seven dining options, a spa and an infinity pool overlooking the Caribbean Sea. Marriott has been widening its reach in CALA, particularly in the luxury and all-inclusive segments. In the last three years, Marriott’s CALA portfolio has grown from 300 properties to 500 hotels and roughly 10% of Marriott’s global luxury portfolio is located in the region.
A&O HOSTELS TO OPEN IN BELGIUM: a&o Hostels, the Berlin-based budget hostel chain, has expanded into Belgium with the upcoming opening of a&o Antwerpen Centraal. Slated to open on November 1, the property earlier operated as the budget hotel Century Antwerp. a&o will invest €4 million in renovations. The nine-story property offers 133 rooms and 516 beds in single, double and family rooms with doubles and bunk beds. a&o Antwerpen Centraal marks the brand’s second opening this year and its 41st hotel across 11 countries in Europe. The brand, which will be celebrating 25 years of operations in 2025, plans to open three to four more properties next year and aims to be Europe’s first hostel chain to operate net zero in 2025.
LHC GROUP ACQUIRES MUNICH HOTEL: An investment vehicle managed and led by Lifestyle Hospitality Capital (LHC) Group and backed by funds advised by Elliott Investment Management L.P., has acquired the Roomers Munich Hotel. Other terms of the transaction were not disclosed. The 280-room lifestyle hotel will undergo renovations, which include enhanced dining options. The hotel will be operated by the Dean Group, which operates other lifestyle hotels such as The Dean, The Clarence and The Leinster in Dublin. The Dean Group is a joint venture between LHC and funds advised by Elliott Investment Management.
VANTAGE CAPITAL EXITS PICALBATROS HOTELS: Vantage Capital, Africa’s mezzanine debt fund manager, has fully exited its investment in PickAlbatros Hotels, the Egyptian hotel owner and operator. PickAlbatros Hotels’ portfolio includes luxury hotels across the Red Sea area in Sharm El Sheikh, Hurghada, Sahl Hasheesh and Marsa Allam. Vantage invested $18.4 million in the hotel group in December 2020, which was used to cover working capital requirements and renovation on some of the newly purchased hotels. Vantage’s capital infusion helped PickAlbatros expand its portfolio from 10,000 to 14,000 keys in the past three years.
