Mergers & Acquisitions

🏨 Petra AM, on behalf of ADIA, acquired citizenM Rome for €70-80 million. The 162-room hotel is in central Rome by the River Tiber. AX Partners acquired Hotel Casa Luz in Barcelona for €40 million. The 65-room hotel is near Plaza Catalunya. Extendam and Redcliffe Capital acquired Radisson Blu Zaffron Resort in Santorini for €28.3 million. The resort has 103 rooms and is beachside in Kamari. Silken Hotels acquired Hotel Antequera Hills in Andalusia, Spain.

💵 American Express agreed to buy TheFork, Tripadvisor's European restaurant-reservation platform, for $700 million on June 15, 2026. TheFork operates across 50,000 restaurants in 11 countries, generating $232 million in revenue over 12 months. Amex's acquisitions, including Resy in 2019 and Tock in 2024, expand its dining network to 75,000 venues. This strategic move enhances Amex's position in dining discovery, aligning with cardmember engagement trends, with dining spend growing over 20% in Q4.

🏖 Club Med and VICI Properties plan to redevelop Carambola Beach Resort in St. Croix, USVI. Following VICI's acquisition, they will lease to Club Med for a 150-key resort. Originally built in 1986, the renovation aligns with sustainability goals, targeting BREEAM and Green Globe certifications. Expected to begin in summer 2026, reopening is set for Q4 2027. The project aims to create around 200 direct jobs and stimulate economic growth in the region.

🏨 United Urban Investment Corporation acquired two hotels in Japan for JPY5.1 billion: Grand STAY Hakata in Fukuoka (JPY1.85 billion) and GRIDS TOKYO UENO in Tokyo (JPY3.25 billion). These 40-key hotels are valued at JPY46.1 million and JPY81.3 million per key, respectively. Expected to finalize by June 2026, they have NOI yields of 5.2% and 4.2%. The Grand STAY is near Hakata Station, completed in February 2021; GRIDS TOKYO UENO near JR Ueno Station, completed in September 2019.

🏨 PM Hotel Group took over management of a 12-hotel, 1,533-room portfolio in Nashville for Pinnacle Hospitality Partners from April 1 to May 1, 2026. The portfolio includes Hilton, Marriott, Wyndham, Choice Hotels, IHG, and Ascend Collection properties in Opryland, Downtown Stadium, Goodlettsville, Mt. Juliet, and Brentwood. PM Hotel Group will enhance performance through strategic management. The company now operates over 80 hotels in 20 states. Further collaborations are in discussion.

🏨 PM Hotel Group took over management of a 12-hotel, 1,533-room portfolio in Greater Nashville for Pinnacle Hospitality Partners effective April 1 to May 1, 2026. The hotels, under brands like Hilton and Marriott, span Nashville's Opryland and Downtown Stadium districts, and suburbs like Goodlettsville. PM Hotel Group manages 80+ hotels across 20 states. This partnership aims to leverage PM’s commercial strategy for enhanced performance and may expand with new hotel projects.