Market Trends

🏨 Radisson Hotel Group expands in Spain with Radisson RED Malaga (102 rooms, opening Q2 2027) and Radisson Resort & Residences Tenerife (242 units, opening Q4 2025). In Portugal, Radisson RED Porto Gaia (250 rooms, opening early 2027) and Radisson Blu Hotel Lisbon renovation (starting 2025) announced. Over 10 properties operational or in development, targeting urban and leisure destinations across Spain and Portugal, such as Balearic Islands, Costa del Sol, Canary Islands, Madrid, Barcelona, Bilbao, Seville, Malaga, San Sebastián, and Valencia. These projects align with Radisson's strategy to increase Iberian presence and enhance guest experiences.

🍴 Bret Thorn, Senior Food & Beverage Editor for Nation’s Restaurant News and Restaurant Hospitality since 1999, has a long-standing track record in food journalism. He wrote for The New York Sun from 2005-2008 and was a part of the New York City food scene. Before joining NRN, Thorn spent five years in Thailand writing for Manager magazine and Asia Times. He received a BA in history from Tufts University and studied French cooking at Le Cordon Bleu in Paris. Thorn was in Beijing in 1989, covering the Tiananmen Square protests for ABC News. His work earned him the 2006 Jesse H. Neal Award and an induction into the Disciples d'Escoffier in 2014. Thorn currently resides in Brooklyn, N.Y.

🏡 In Phoenix, Arizona, JLL arranged a $29.5 million refinancing for The Maxwell Hotel, a 139-key boutique hotel in Seattle, Washington's Queen Anne neighborhood. The 10-year, fixed-rate loan was secured through a regional credit union for borrower Staypineapple. The Maxwell Hotel, opened in 2010, includes modern amenities, an indoor pool, fitness center, restaurant, bar, and 1,600 square feet of meeting space. Located near Seattle Center, Space Needle, and Climate Pledge Arena, it caters to business and leisure travelers. JLL's team, led by Adrienne Andrews and Jessica Mehra, highlighted the hotel's strong cash flow and prime location. Staypineapple President Dina Belon praised JLL for their expertise and finding a lender that matched their vision.

🏨 Henderson Park and Atream acquired a portfolio of five Novotel Suites hotels with 645 rooms in Paris (Issy-les-Moulineaux, Montreuil, Saint-Denis), Lille, and Cannes. The hotels were built between 2000 and 2011 and have been poorly invested in due to fragmented management. The acquisition included the properties and simultaneous operations transfer. Henderson Park plans a modernization program in line with the Paris Agreement goals for 2050. The hotels will continue to be managed by Accor with new contracts. This acquisition augments Henderson Park’s global portfolio, which totals over 11,000 rooms.

🌱 PHS Greenleaf has over 20 years of experience providing planting and grounds maintenance services in the hospitality sector. Hospitality venues are incorporating biophilic designs with natural materials and plants, real or artificial, to improve guest well-being. The trend includes using sustainable, eco-friendly designs with native plants and creating edible gardens. The 2023 color palette favors muted tones like mocha, greens, and browns. Statement plant installations enhance engagement, and exterior landscaping with hanging baskets and window boxes is crucial for first impressions. PHS Greenleaf serves over 8,000 customers and offers a comprehensive service from supply to maintenance.

🏨 In 2024, the U.S. hotel industry saw profits grow alongside higher labor costs and inflation. Key percentage changes from 2023 included a 3.2% increase in GOPPAR to $73.60, a 7.2% rise in TRevPAR to $209.67, and a 2.5% growth in EBITDA PAR to $51.88. Labor costs spiked by 11.2% to $72.44. Miami led the Top 25 Markets with a $12 rise in GOPPAR and $27 in TRevPAR, while Oahu faced the steepest declines due to labor strikes.