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LODGING Staff

1838 posts
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  • 2 min

Thayer Ventures and Derive Ventures Form New Investment Platform

  • LODGING Staff
  • 17 September 2024
📈 Thayer Ventures and Derive Ventures form Thayer Investment Partners (TIP) in San Francisco. Chris Hemmeter, Tyler Carrico, and Mike Scott lead as managing partners, leveraging experience in hospitality start-ups. TIP to launch a new fund soon, building on Thayer Ventures' foundation since 2009 and Derive's 2022 inception, aiming to innovate in travel tech and boost industry efficiency. Lee Pillsbury, Thayer Lodging Group founder sold to Brookfield in 2014, continues as Thayer Ventures Funds managing director.
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  • 2 min

AAA Reports Top Travel Destinations for Fall

  • LODGING Staff
  • 16 September 2024
🏖 Domestic flight bookings increased by 1%, international by 3%; average domestic roundtrip ticket costs $660, international $1,315. Domestic cruise bookings soared 19%, international cruises 6%, with costs averaging $2,355 and $3,560 respectively. Top fall travel destinations include Orlando, Boston, and Seattle in the U.S, with Rome, Paris, and London internationally. Gas prices decline due to a quiet hurricane season and winter-blend gasoline. Car rental rates dropped 5% domestically and 15% internationally, with high demand in Boston, Denver, Portland, Montreal, and Vancouver.
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  • 2 min

McKibbon Hospitality Opens Moxy Asheville, North Carolina

  • LODGING Staff
  • 16 September 2024
🌆 Located in Asheville, North Carolina, Moxy Asheville opens officially with a six-story, 115-guestroom structure. Guests receive a welcome drink upon check-in at Bar Moxy. The hotel showcases a rooftop bar called Wildwood Still, offering 150+ whiskeys and a menu led by Executive Chef Austin Tisdale. Nearly 20 artists contributed to the site's art, featuring North Carolina's tallest mural. Moxy Asheville shares amenities with connected Aloft Asheville Downtown and is operated by McKibbon Hospitality.
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  • 2 min

Sonesta Signs Deal to Open Five Hotels in the Dominican Republic

  • LODGING Staff
  • 16 September 2024
🏖️ Sonesta International Hotels Corporation to open five Sonesta ES Suites in the Dominican Republic, starting with Sonesta ES Suites ELEMENTS Jarabacoa in early 2026. The initial property will be an upscale extended-stay hotel in La Vega province, offering at least 80 suites, eight pools, tennis and padel courts, and more. Almanzar Marte Ingenieros & Arquitectos, with over 14 years in real estate, will franchise the properties. All five hotels are due by 2031, expanding Sonesta's presence in the LATAM market.
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  • 2 min

Kimpton Rockefeller Center Development Underway, Opening Planned for 2025

  • LODGING Staff
  • 16 September 2024
🏡 Kimpton Hotels & Restaurants, part of IHG's luxury portfolio, announced a new boutique luxury hotel, Kimpton Rockefeller Center, set to open in late 2025 in New York City. Developed with Extell Development Company, the 33-story hotel will offer 529 guestrooms, two full-service restaurants, a lobby lounge, rooftop bar, fitness center, and meeting spaces. It will join two other Kimpton hotels in NYC: Kimpton Hotel Theta and Kimpton Hotel Eventi. Globally, 75 Kimptons are open, with 57 more expected in the next 3-5 years.
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  • 2 min

Spark by Hilton Brand Opens First Canadian Hotel

  • LODGING Staff
  • 13 September 2024
📌 In Toronto, Canada, and McLean, Virginia, Hilton and JM Hospitality introduced Spark by Hilton Toronto Markham, the brand's first Canadian location, joining 8 upcoming Spark hotels. Spark started in Mystic, Connecticut in September 2023, hit Europe in May with the London Romford location, and boasts over 50 hotels with 275+ in the works. Spark by Hilton, a conversion-focused brand, has grown quickly, offering affordable stays with desirable amenities. The 72-room Markham hotel caters to diverse travelers and is part of Hilton's plan to grow its Canadian portfolio by 50% in five years, adding to over 180 existing hotels.
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  • 2 min

Renaissance Orlando Resort and Spa Opens After Renovation

  • LODGING Staff
  • 13 September 2024
🏨 Renaissance Orlando Resort and Spa, in Florida's Disney Springs Resort Area, features 394 guestrooms, over 25,000 square feet of meeting space, a zero-entry pool, hot tub, and American Kitchen Bar & Grill. After a $25 million renovation, it now boasts the Indulged Spa + Wellness Retreat, a 5,000 square foot outdoor terrace, updated fitness studio, rooms, and lobby. As an Official Walt Disney World Hotel, it offers shuttle service and early park access. The Stonehill Taylor-designed renovation highlights local citrus groves themes and includes poolside lanai-style accommodations. Located just 13 miles from Orlando International Airport, the resort caters to various events with flexible indoor and outdoor spaces.
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  • 1 min

CoStar: U.S. Hotel Performance Lowers From Previous Week

  • LODGING Staff
  • 13 September 2024
🏨 CoStar reports U.S. hotel industry performance dropped in the week ending September 7, 2024, compared to the same week in 2023, with occupancy down 4.2% at 57.8%, ADR (Average Daily Rate) falling 1.0% to $149.67, and RevPAR (Revenue Per Available Room) reduced by 5.2% to $86.48. Houston outperformed with occupancy and RevPAR rising by 8.0% and 18.5% respectively. Both Houston and Detroit saw the largest ADR increase of 9.7%. Las Vegas and Boston experienced the steepest RevPAR declines at 18.6% and 18.3%, respectively.
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  • 2 min

Hospitality America Becomes Manager of Element by Marriott Charleston Airport

  • LODGING Staff
  • 12 September 2024
🏨 Hospitality America to manage the Element by Marriott Charleston Airport, set to open Q2 2025 in North Charleston, South Carolina. The 123-room hotel, featuring a restaurant, fitness center, outdoor pool, and 500 sq ft meeting space, is the eighth Marriott managed by Hospitality America and the second owned by Contender Development. Located two miles from Charleston International Airport and eight miles from downtown Charleston, it targets extended-stay guests with in-room kitchens and spa-inspired bathrooms.
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  • 1 min

First Mortgage Financing Originates for Embassy Suites by Hilton Nashville Airport

  • LODGING Staff
  • 12 September 2024
🏨 Smith Hill Capital and Bain Capital provided a $57 million first mortgage financing for the Embassy Suites by Hilton Nashville Airport, a 305-key property. Located near Nashville International Airport, downtown Nashville, and One Century Place Conference Center, the hotel offers amenities like an airport shuttle, fitness center, and over 6,000 square feet of meeting space. The venture targets hospitality companies across the U.S. despite uncertain market conditions.
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