MINOR’S NH HOTELS STEPS INTO BANGKOK: Minor Hotels has collaborated with Boulevard Hotel Co. Ltd. to launch its NH Hotels & Resorts brand in Bangkok with the opening of NH Bangkok Sukhumvit Boulevard. Located just off Sukhumvit Road, a commercial and shopping district in the Thai capital, the hotel sits about 200 meters from the BTS SkyTrain public transport system. The 315-room hotel recently underwent renovations, which include upgrades to the rooms, lobby, restaurant and pool areas. The hotel includes an all-day dining restaurant, a lobby bar, fitness center, an outdoor pool and meeting spaces. NH Bangkok Sukhumvit Boulevard is part of Minor’s global strategy to cross develop its brands and introduce the NH Hotels & Resorts brand into Asia. At present, Minor operates more than 230 NH hotels, primarily across Europe and the Americas.
PULLMAN FORAYS INTO CROATIA: Pullman Hotels & Resorts, the hotel brand under Accor, has entered Croatia with the opening of Pullman Zagreb. Located in Zagreb’s City Island development area, a new business hub in the Zagreb district, the hotel offers 193 rooms and suites, a restaurant, lobby bar, wellness spaces with two saunas and a fitness center. The hotel includes event areas, which can accommodate up to 150 persons. The new hotel is operated under a management agreement by MPPD, the hospitality company that focuses on developing and operating hotels in Southeast Europe.
PEACHTREE GROUP EXCEEDS $1B IN LOAN ORIGINATIONS: Peachtree Group’s credit team has exceeded $1 billion in loan originations YTD, setting a new benchmark for the group’s performance this year. Peachtree expects that its credit team will surpass $1.75 billion in loan originations this year. Hotels represented the largest sector and surpassed $639 million in credit transactions YTD, skyrocketing by 176% from the same period in 2023. While the Federal Reserve has lowered rates to offer some relief to the economy, the commercial real estate sector is projected to face major headwinds in the next few years, Peachtree said in a release.
WATERFORD ADDS TO MANAGEMENT PORTFOLIO: Waterford Hotel Group, the hospitality management company, has been selected to operate the Killington Mountain Lodge, Tapestry Collection by Hilton in Vermont’s Green Mountains. Offering views of the mountains, direct access to Killington Resort’s skiing and snowboarding, the hotel features 102 rooms, a pub, a hot tub, fitness center and roughly 3,000 square feet of event space. The hotel is owned by Mission Hill Hospitality. With the addition of Killington Mountain Lodge, Waterford now manages six properties owned by Mission Hill. Waterford’s overall portfolio includes more than 100 locations across the U.S.
