LODGING Staff - 10 Minutes News for Hoteliers - Page 80

1 min

Arriba Capital Secures Refinance for DoubleTree by Hilton Tucson Downtown Convention Center

🏨 The DoubleTree by Hilton Tucson Downtown Convention Center, a 170-room hotel in Tucson, Arizona, received cash-out refinance arranged by Arriba Capital. Developed by Caliber, Rio Nuevo, and the City of Tucson and opened in 2021, it's operated by Highgate under Hilton Worldwide. The refinancing supports ownership, operation, and investment continuity. The hotel, near the Tucson Convention Center, benefits from local events and attractions like the University of Arizona and Tucson Gem and Mineral Show.

2 min

Choice Hotels International Publishes 2024 Sustainability Report

📍 NORTH BETHESDA, Maryland—Choice Hotels International released its 2024 Sustainability Report, revealing its full greenhouse gas inventory and commitment to set science-based targets. The company collaborated with the National Park Foundation, pledging an annual donation of $150,000 and enabling guests to donate through Choice Privileges points. Additionally, Choice's "Your Community, Your Choice" grant program hit a $275,000 total donation to local nonprofits over five years, supporting varied causes important to hotel owners.

3 min

CBRE: Commercial Real Estate Lending Increased in Q1 2025

🏢 Commercial real estate lending in Dallas, Texas, grew by 13% in Q1 2025 from Q4 2024, and 90% year-over-year, with the CBRE Lending Momentum Index surpassing 300 for the first time since Q1 2023. Average loan spreads decreased by 29 bps from the previous year to 183 bps, multifamily loan spreads hit a low of 149 bps since Q1 2022. Banks, capturing a 34% share of non-agency loan closings, were the leading lenders, followed by CMBS conduits at 26% and life companies at 21%. Year-to-date private-label CMBS issuance increased by 132% from last year. Alternative lenders saw a 17% decline in origination activity. Average underwritten cap rates rose to 6.1%, debt yields to 10.3%, and LTV decreased to 62.2%. Government agency multifamily lending reached $22 billion, a 15% annual increase.

4 min

AAA: 45.1 Million Travelers Expected to Go 50 Miles or More for Memorial Day Weekend

🏁 AAA predicts 45.1 million people will travel over Memorial Day weekend from May 22-26, 2025, an increase from the previous year's 44 million. Driving is preferred by 87% with 39.4 million people traveling by car, enjoying lower gas prices compared to last year's $3.59 per gallon. Air travel is up by 2% to 3.61 million passengers, with domestic flights averaging $850. Other modes, including trains, buses, and cruises, will see 2.08 million travelers, surpassing pre-pandemic levels. Overall, 19 million Americans plan to take cruises in 2025.

1 min

Tempo by Hilton Nashville Midtown Celebrates Topping Out Milestone

🏨 Vision Hospitality Group announced the topping out of Tempo by Hilton Nashville/Midtown, a 161-room hotel slated to open at the end of 2025. Located near Vanderbilt University and other landmarks in Nashville's Midtown, this 12-story lifestyle hotel will feature amenities like Moonsong Café, a 1,000-square-foot fitness center, and over 1,000 square feet of meeting space. BCA Architects and 1213ID designed the hotel, with financing from Commerce Bank.

1 min

Tempo by Hilton Nashville Midtown Celebrates Topping-Out Milestone

🏨 Officials from Vision Hospitality Group, Inc. announced that Tempo by Hilton Nashville/Midtown has topped out this week. The 161-room, 12-story hotel is located in Nashville’s Midtown district and is set to open by the end of 2025. It will feature Moonsong Café, a 1,000-square-foot fitness center, and over 1,000 square feet of meeting space. Designed by BCA Architects, with interiors by 1213ID, Commerce Bank is financing the project.

2 min

Nobu Debuts at Grand Wailea and Hotel Del Coronado

🏠 Nobu Matsuhisa’s Japanese cuisine arrives at Grand Wailea, a Waldorf Astoria Resort in Wailea, Hawaii, and Hotel del Coronado in Coronado, California. The two iconic resorts have undergone multi-year renovations and now feature Nobu Grand Wailea Maui with a 13,000 square foot space after a $350 million renovation, and Nobu Del Coronado with a 3,700 square foot space. Nobu Wailea offers desserts like Kona Coffee Tres Leches Cake, while Del Coronado has 156 seats, including 120 outdoor with Pacific views.

3 min

IHG Reports Q1 2025 Trading Update

🏨 IHG Hotels & Resorts' Q1 2025 update showed a global RevPAR increase of 3.3%, with Americas at 3.5%, EMEAA at 5.0%, and Greater China down 3.5%. Rooms revenue saw Business up 3%, Leisure up 2%, Groups up 5%, average daily rate up 2.2%, and occupancy up 0.6 percentage points. Gross system size growth was 7.1% YOY, with 14,600 new rooms opened. Net system size grew 4.3% YOY, totaling 987,000 rooms across 6,668 hotels. IHG signed 25,800 rooms in Q1, marking a 9.4% YOY pipeline increase. A $324m portion of a $900m share buyback program was completed, reducing share count by 1.9%.

3 min

Grand Bohemian Lodge Asheville Reopens with Renovations and Lodge Designation

🏡 In September 2024, Hurricane Helene damaged the Kessler Collection's Asheville property, leading to extensive restorations. Led by Mark and Diana Kessler, the Grand Bohemian Lodge Asheville has been revitalized with enhancements including an expanded Grand Bohemian Gallery, a culinary experience at Red Stag Grill with refreshed menus featuring local ingredients, updated wellness offerings at the renamed Spa at Grand Bohemian, and expanded meeting spaces. The Manor House now provides a new 450-square-foot meeting space, and the art gallery showcases a 2025 collection, with over 700 curated bottles in the wine vault. The project was a collaboration with local artisans and businesses to lift the community.

2 min

Hyatt Regency Tamaya Resort & Spa Announces Completion of Multi-Million Dollar Renovation

🏠 Hyatt Regency Tamaya Resort & Spa in Santa Ana Pueblo, New Mexico completed a $15 million renovation of 327 guestrooms with a cultural and Pueblo-style design. The renovation included new room décor with local woven fabrics and pueblo clay pottery designs, spa-inspired bathrooms with marble countertops, and resort corridors with Native American patterns. Additional offerings include horseback rides, cultural activities, and a learning center with Native American artifacts. General Manager Claudia Wattenberg emphasized the luxury and cultural heritage reflected in the updates.

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