LODGING Staff - 10 Minutes News for Hoteliers - Page 152

2 min

Extended Stay America Premier Suites Portland North Opens

🏡 Extended Stay America announced the opening of the Extended Stay America Premier Suites Portland North in Portland, Oregon, developed by Trimark-University Housing IV and managed by Ark Hospitality. The three-story, 146-room property offers WiFi, complimentary breakfast, a fitness center, and kitchens equipped with full-size refrigerators, microwaves, and stovetops. Located near Portland International Airport and Tri-Met Delta Park Rail Station, the hotel caters to the increasing demand for extended stay options in the region. Mark Williams highlighted the property's conversion to support extended stays. Al Jiwani plans to add more ESA locations in the future.

3 min

Choice Hotels Breaks Ground on Three Everhome Suites

🏠 Choice Hotels International, Inc. is breaking ground on three new Everhome Suites in San Antonio, Texas; Bowling Green, Kentucky; and Wichita, Kansas, developed with Highside Companies. The extended-stay demand is double the supply, with four Everhome Suites open, 65 in the pipeline, over 20 under construction, and more than 15 set to open within the next 12 months. The Everhome Suites Bowling Green, San Antonio, and Wichita will offer 115, 115, and 123 rooms, respectively, and are expected to open in November 2025 and fall of 2025. Amenities include full kitchens, spa-style bathrooms, pet-friendly options, and 24/7 markets and fitness centers.

4 min

Hyatt Shares Plans to Acquire Standard International

🏢 Chicago, Illinois—Hyatt Hotels Corporation plans to acquire Standard International, parent of The Standard and Bunkhouse Hotels, with the transaction expected to close later in the year, subject to conditions. Hyatt's lifestyle rooms grew fivefold from 2017 to 2023. The new lifestyle group, led by Amar Lalvani, will be based in New York City, combining Standard International and Hyatt teams. The deal includes 21 hotels with approximately 2,000 rooms. Sansiri PLC, which acquired a majority in Standard International in 2017, will remain involved. Hyatt will pay a base of $150 million with up to $185 million more later; stabilized fees from the base are about $17 million and could reach $30 million. Moelis & Company LLC and Venable LLP advised Hyatt.

1 min

Sonesta Introduces Incentives for Franchisees Using Procurement Program

📌 In Newton, Massachusetts, Sonesta introduced a franchisee incentive program offering a 2% credit for using its procurement program, paid quarterly. The program includes a mobile app (EPRO) for cost-saving purchases and underscores Sonesta's commitment to transparency and supportive franchise relationships. The technology cost for EPRO is sponsored by Sonesta to alleviate financial burdens on franchisees and foster growth and retention.

2 min

Rockbridge Acquires Hyatt House Chicago West Loop/Fulton Market

🌏 Rockbridge acquired the 200-room Hyatt House Chicago West Loop/Fulton Market near McDonald’s global HQ and Chicago’s United Center. Fulton Market is a hub for offices, residences, dining, and nightlife. The hotel, built in 2019, offers amenities like a rooftop center, pool, and fitness center. Jones Lang LaSalle advised the sellers on the transaction.

2 min

TPG Hotels & Resorts Adds Two Augusta Hotels to Managed Portfolio

📌 TPG Hotels & Resorts to manage two properties in Augusta, Georgia: the 124-room Residence Inn and the 88-room SpringHill Suites, both owned by PeachState Hospitality. Augusta, known for The Masters Tournament, offers guests access to historic, cultural, and recreational attractions. Amenities at the hotels include WiFi, hot breakfast, fitness centers, and more, with the SpringHill Suites also featuring an indoor pool and outdoor fire pit.

1 min

Coastal Views and a Historic Perspective

🏡 The George Hotel, a boutique property in Georgetown's Hammock Coast, South Carolina, housed in the former Georgetown Times building, opened in May 2024. It's the first hotel on historic Front Street in over 50 years and The Indigo Road's first in South Carolina. The hotel features 18th- and 19th-century architectural design, 42 water-facing guestrooms with 50-inch Samsung smart TVs, Malin + Goetz products, and Bellino linens. It includes a seafood restaurant, outdoor bar, and event spaces like The Indigo Room. Owned by Winya Properties and operated by The Indigo Road, it has 56 rooms.

2 min

Marriott Forms Long-Term Licensing Agreement With Sonder

🏨 Marriott International announced a partnership with Sonder Holdings Inc. to add over 9,000 rooms to its portfolio by the end of 2024, with an additional 1,500 rooms in the pipeline, under "Sonder by Marriott Bonvoy" collection. This deal is expected to achieve Marriott's net rooms growth of 6-6.5% for the full year of 2024. Sonder, founded in 2014, operates in North America, Europe, and the Middle East, catering to longer stays. Integration with Marriott’s digital platforms is planned for 2025, offering Bonvoy members the ability to earn and redeem points at around 200 properties.

3 min

Amanda Hite Named 2025 Shatterproof Hospitality Heroes Honoree

🏥 Amanda Hite, president of STR, a CoStar Group company, will be honored as the 2025 Shatterproof Hospitality Heroes honoree for her efforts against addiction stigma during the eighth annual Hospitality Heroes Reception at ALIS on January 29, 2025, in Norwalk, Connecticut. The event, raising funds to transform addiction treatment in the U.S., has collected over $5 million with the support of 100+ hotel companies and 500+ employees since its inception. Hite's involvement includes rappelling for the Shatterproof Challenge and serving on various industry boards. The hospitality sector has twice the rate of substance use disorders compared to other industries.

3 min

Hyatt Completes Sale of Hyatt Regency Orlando

🏨 Hyatt Hotels Corporation sold the 1,641-room Hyatt Regency Orlando and 45 acres of land to RIDA Development Corporation and an Ares Management Real Estate fund for $1.07 billion, retaining a long-term management agreement. Transaction includes $265 million of non-controlling preferred equity and $50 million of seller financing. The sale contributes to Hyatt's $2.6 billion proceeds from their asset-disposition strategy. A new Grand Hyatt hotel is planned on the adjacent land, expecting around 2,500 rooms and will be part of a combined total of over 4,000 guestrooms with Hyatt Regency Orlando.

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