Denis Stackeusky - 10 Minutes News for Hoteliers - Page 40

2 min

Gencom makes two Marriott brand buys in New Orleans

🏦 Gencom acquired The Ritz-Carlton, New Orleans, and Courtyard by Marriott French Quarter Iberville totaling 758 rooms in New Orleans' French Quarter. The Ritz-Carlton boasts 528 rooms, 48,000 sq ft of event space, a city-largest 25,000 sq ft spa, and live jazz. The 230-room Courtyard is close to Bourbon Street and major city attractions. Extensive renovations include a $15 million upgrade to The Ritz-Carlton's Club Level and a complete modernization of the Courtyard. Financed by Monroe Capital, the deal emphasizes Gencom's strategy in high-demand tourism markets, marking its 10th Ritz-Carlton project.

2 min

Dreamscape Hospitality assumes management of Hyatt Regency Houston West

🏨 Dreamscape Hospitality now manages the Hyatt Regency Houston West, located in Houston’s Energy Corridor with 400 guestrooms and suites. The hotel boasts 25,000 square feet of event space with advanced audiovisual capabilities and offers amenities like high-speed Wi-Fi, a 24-hour fitness center, and an outdoor heated pool. Dining options include Cafe on the Lake, Black Gold Bar, Pool Bar, and Grab & Go Market. Ideal for both business and leisure travelers, it provides access to corporate offices, Houston West Hospital, and CityCentre, plus Bear Creek Pioneers Park and Memorial City Mall.

1 min

Crystal Creek Capital adds Charleston’s Planters Inn to portfolio

🏡 Crystal Creek Capital acquires 64-room Planters Inn in Charleston's historic district, planning extensive renovations while preserving historical elements. Built in 1844, the Inn is the only Relais & Châteaux property in the city. The hotel boasts Southern design, modern amenities, and a 5,500-square-foot meeting/event space. Its courtyard is designed by Sheila Wertimer, and the on-site Peninsula Grill restaurant offers Southern cuisine with Lowcountry flavors. Crystal Creek Capital also owns hotels in Jackson, Wyo., and Fort Collins, Colo.

2 min

As U.S. hotel deals struggle, European transactions hit high: report

🏨 European hotel deal volumes hit $24.3 billion in 2024, up 37% from the previous year, with the U.K. leading at $8.5 billion in transactions. The second half of 2024 saw $11.3 billion in deals, and the U.K., Spain, and France comprised 59% of the total at $14.3 billion. The U.K. saw a 197% increase in transaction volume from 2023, with significant growth also seen in Greece (+294%), Norway (+248%), and Ireland (+218%). London was the top city with $4.4 billion in deals. Private capital made up 45% of transactions, a 45% increase from the previous year, while institutional investments represented 39%, and public finance grew 352% to 13%. Luxury and upper-upscale properties accounted for 42% of the total volume.

2 min

City Express by Marriott opens outside Atlanta

🏠 Marriott International's City Express by Marriott Duluth, 30 minutes from downtown Atlanta, is the first U.S. location, marking the brand's North American midscale segment entry. Over a dozen properties are to open regionally in 2023, following the 2022 acquisition of City Express. The brand offers high-speed internet, complimentary breakfast, 24-hour market, pet-friendly rooms, and fitness facilities. Over 45 signed agreements are in place, with upcoming openings in New Orleans Northeast, Chicago Downtown, Orlando International Drive, and Port Hope, Ontario. Expansion plans include Argentina, Bolivia, Nicaragua, Peru, and Brazil, with eight properties expected within three years. The U.S. and Canada properties will join Marriott Bonvoy's travel program.

2 min

Sonesta Simply Suites debuts new extended-stay prototype

🏨 Sonesta International Hotels Corporation introduced a new Sonesta Simply Suites prototype, offering a four-story, 122-key layout, and a three-story, 89-key alternative. Designed for extended stay guests, suites include in-suite kitchens, ergonomic workspaces, and ample storage. The design focuses on maximizing space, guest comfort, and operational efficiency. It features a 24/7 market, fitness center, guest laundry, and outdoor spaces. The brand is expanding across the U.S. targeting the extended stay sector with cost-effective, scalable options for developers and comfortable, efficient accommodations for guests.

2 min

RREAF Holdings and hotel investor Philip McNeill Sr launch new joint venture

💿 RREAF Holdings partners with Philip McNeill, Sr. to create MxR Hospitality, targeting economy extended-stay hotel market in the U.S. McNeill, a hotel industry veteran, opened the second Hampton Inn in 1984 and later led Equity Inns, overseeing its $2.2 billion sale in 2007. MxR Hospitality aims for operational excellence and consistency, capitalizing on the growing demand for long-term accommodations with plans to expand nationwide.

1 min

stayAPT Suites expands with new franchise agreement

📌 stayAPT Suites signs franchise agreement with Capstone Stay for five new locations in Rossford, Ohio; Evansville, Ind.; Gardner, Kan.; Wentzville, Missouri; and Liberty, Missouri. Initial focus on Rossford and Evansville. Expansion includes a pipeline of 40 hotels set to open by April 2025. Each property features full-size kitchens, living rooms, separate bedrooms, outdoor courtyards with grill stations, fire pits, and on-site fitness and laundry facilities. Partnership leverages Capstone’s modular construction for accelerated growth and streamlined development.

2 min

Corinthia expands in the U.S. with Beverly Hills boutique hotels acquisition

🏦 Corinthia Group acquired Maison 140 Beverly Hills and the Mosaic Hotel, with a combined total of 100 rooms, in Beverly Hills, California. The transaction was conducted through a joint venture with Kuwait's Action Real Estate Company. The acquisition aims to enhance Corinthia's global market presence. The hotels will be managed by Palisociety and overseen by Corinthia's development arm for potential enhancements. This expansion into Beverly Hills follows Corinthia's partnership with Action Real Estate and its North American debut with The Surrey in New York.

2 min

Wyndham Rewards launches debit card for U.S. travelers

💰 Wyndham Rewards, in collaboration with Galileo Financial Technologies, launched a debit card for earning points on purchases redeemable at over 60,000 hotels, resorts, and rentals. The card caters to travelers, especially Gen Z, who prefer debit and includes benefits like Wyndham Rewards Gold membership. Nearly 70% of Gen Z use debit weekly, 65% plan to spend more on travel, and almost 60% value loyalty programs. The card is issued by Sunrise Banks N.A. and operates on the Mastercard network.

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