Mergers & Acquisitions

🏨 Leonardo Hotels has taken over operations of two former hotels on Berlin's Alexanderplatz, now rebranded as the Hotel Berlin Alexanderplatz by Leonardo Hotels and Leonardo Smart Berlin Alexanderplatz. These hotels, previously H2 and H4, offer a total of 624 rooms. Aroundtown signed 20-year leases with Leonardo Hotels, strengthening their partnership. The Hotel Berlin Alexanderplatz has 336 rooms and focuses on business travelers, while the Leonardo Smart Berlin Alexanderplatz caters to leisure guests with 288 rooms.

🚢 Royal Caribbean Group and Sandals Resorts signed a partnership deal with Royal Caribbean acquiring a 50% equity stake in Sandals for $3 billion, with a forward EBITDA multiple of 10x. The deal is expected to close in early 2027, backed by debt financing from Morgan Stanley. Adam Stewart and Jason Liberty will govern the joint venture. BofA Securities, PJT Partners, Latham & Watkins, Jones Day, Perella Weinberg Partners, Morgan Stanley, and Kirkland & Ellis LLP provided advisory services.

📈 Mulpha Australia, on September 21, 2026, acquired a one-third interest in the Novotel Sydney on Darling Harbour and ibis Sydney Darling Harbour, alongside Sun Hung Kai & Co. Limited and Wentworth Capital. The two hotels, managed by Accor, offer 781 rooms in total—525 at Novotel and 256 at ibis. This acquisition is part of Mulpha's strategy to redeploy capital into high-quality assets, enhancing their existing Australian hospitality portfolio, which includes several InterContinental properties.

📍 Ink 48, a Manhattan hotel, shifts from IHG’s Kimpton to Accor's MGallery, becoming the U.S. flagship by 2028. The hotel, featuring 222 rooms and 17 suites, will undergo renovations by Rebel Hotel Company. Sold in 2019 for $82.7 million, it was acquired in 2024 for $275,000 per key by Leyad and Capstone Equities. The hotel offers Hudson Local restaurant, Hudson VU rooftop bar, and 6,000 sq. ft. event space. MGallery plans nine openings by 2026.

🏨 Marcus & Millichap announced the sale of a 92-room Fairfield Inn & Suites in Warsaw, Indiana. The transaction, facilitated by Michael Klar and Ebrahim Valliani from Marcus & Millichap's Chicago Oak Brook office, also involved Julia Evinger. Supported by the Miller-Gomes Hotel Team, the deal highlighted strong demand for new select-service hotels in the Midwest. Built in 2020, the four-story hotel features an indoor pool, fitness center, business center, meeting space, and guest laundry.

🏨 Birmingham’s first Accommodation Business Improvement District (ABID) will start on April 1, 2027, and run until 2032. Voted in by 64% of participants, it represents 59% of the sector's rateable value with a 54% turnout. Initiated by the Birmingham Hospitality Association, ABID aims to boost visitor numbers and spending by uniting businesses. Supported by West Midlands Growth Company, it follows similar schemes in Manchester and Liverpool.

🏠 Karim Alibhai's Gencom, a Miami-based hotel investment firm, acquired three New York hotels within 16 months: the 587-room Thompson Central Park for $380 million in 2024, the 607-room InterContinental New York Times Square in 2025, and the 253-room Ritz-Carlton New York, Central Park. In 2025, New York saw a 3.2% drop in international visitors to 12.5 million, expected to rebound to 12.9 million in 2026. Gencom also invested in New Orleans, Miami, and internationally.

🏨 Cushman & Wakefield facilitated the sale of the Holiday Inn Express & Suites Wilmington West – Medical Park, a 109-room hotel in Wilmington, North Carolina, for $12.95 million. The hotel, built in 2019, generated over $3.8 million in 2023, outperforming competitors in occupancy, ADR, and RevPAR. It's strategically located near Wilmington’s Medical Park, driving strong investment interest. Rick Redmond highlighted its operational success and premium location as key investment attractions.