NH HOTELS TO OPEN IN THE MALDIVES: Minor Hotels has announced the entry of its NH Hotels & Resorts brand in the Indian Ocean with the NH Maldives Kuda Rah Resort. Slated to open on September 1, the resort is located in South Ari Atoll and is around 25 minutes by seaplane from Male. The resort features 51 deluxe suites and villas, with each room having an inner courtyard or beach-facing pool. The resort includes multiple dining venues, a bar and lounge, spa and a gym. The opening of the NH Maldives Kuda Rah will bring Minor’s portfolio in the Maldives to eight and follows the debut of NH Collection to the archipelago in 2023. It also marks the NH Hotels & Resorts’ third resort globally.
ECHO SUITES ADDS SECOND U.S. LOCATION: ECHO Suites Extended Stay by Wyndham has added its second location in the U.S. with the launch of ECHO Suites Extended Stay by Wyndham Dallas Plano/Frisco. This marks the brand’s first property in Plano, Texas. The hotel is owned by Ian McClure, CEO of Gulf Coast Hotel Management, a key member of the ECHO Suites developer’s council instrumental in developing the ECHO Suites brand. The hotel is among the 25 ECHO Suites Gulf Coast Hotel Management plans to open in the next few years and joins nearly 270 hotels in the pipeline, with more openings expected in the coming months.
HOTEL ENGADINERHOF SELLS: Sebastian Lang and Marcus Schwander, founding partners of Miami-based Lang & Schwander, have acquired the Hotel Engadinerhof in Switzerland. Terms of the transaction were not disclosed. Originally opened in 1905, the 85-key hotel is located in the mountain village of Pontresina. The Lang & Schwander team will assume management of the hotel and renovate its common areas and guest rooms. The renovation process will be led by Atelier Zürich, the Swiss interior design company. Hotel Engadinerhof will remain open throughout its phased renovation, which is expected to be completed in 2026.
DRIFTWOOD CAPITAL ORIGINATES $12M LOAN FOR FIVE-HOTEL PORTFOLIO: Driftwood Capital has originated a $12.1 million mezzanine loan for the refinancing of a five-property, 714-key portfolio. The portfolio consists of a 189-key hotel in Salt Lake City, Utah; a 139-key property in Norwood, Mass.; a 113-key hotel; and a 146-key property in Bloomington, Minn.; and a 127-key property in Arlington, Texas. Driftwood Lending Partners, LP, Driftwood’s lending vertical, provided the financing to a joint venture between affiliates of a hotel investment and management firm and a global investment management firm. The three-year loan has two one-year extension options.
