Mergers & Acquisitions

🏨 NewcrestImage acquired The Hotel Zags in downtown Portland, Oregon, featuring 174 guestrooms, now managed in-house. Located in Portland's Cultural District, the hotel was renovated and rebranded in 2019. Amenities include a restaurant, PLS on Sixth, 2,700 sq ft of event space, and a retro game arcade. Attractions like Pioneer Place and the world's largest independent bookstore are nearby. This acquisition aligns with NewcrestImage's growth strategy, adding geographic and segment diversification.

💰 In 2025, 287 new billionaires added $684 billion in wealth, dwarfing 2022's $75 billion. Forbes' U.S. 400 wealth list threshold jumped from $2.1 billion (2020) to $3.8 billion (2025), excluding 500 billionaires. U.S. luxury hotel supply grew 2.3% since 2015, while global wealth rose 9.6% annually. Luxury travel spending will hit $544 billion in 2026, a 23% increase over 2023. Ultra-luxury RevPAR of $909 (2026) is 160% of 2019's, indicating persistent pricing power in the sector.

💸 The Cumberland Building Society has provided a refinancing package to Hart Hambleton, a Rutland-based hospitality and bakery group, to support expansion. Founded by Tim Hart in 1980, Hambleton Hall has held a Michelin star since 1982. Hambleton Bakery, established in 2008, supplies over 200 retailers and has eight shops. The Cumberland, recommended by broker Zain Zaidi, offers expertise in hospitality and food sectors, providing commercial mortgages and support through dedicated Relationship Managers.

💰 Duetto has acquired Flyr Hospitality from FLYR. In 2022, FLYR entered the hotel room-rate business by acquiring Pace Revenue but is now exiting to focus on airline retailing. Duetto provides customizable products for hotel revenue management, while Flyr offers automated pricing systems. This acquisition allows hotels to choose between manual control and automation. Olly Lynch, Duetto's CMO, emphasizes the flexibility in strategy choice now available to hotels.

🏨 In 2023-2024, Minor Hotels identified 43 European hotels for renovation, committing over $110 million. By 2025, EBITDA at these hotels increased by nearly 40%, compared to 14% for peers. 70% of Minor's portfolio involves capital exposure, while over 85% of the pipeline is asset-light. $11 million was invested in Phuket's Layan Life for testing medical wellness concepts. Asset-light growth allows rapid expansion, yet maintaining ownership offers deeper insight into performance.

🏨 DiamondRock Hospitality Company acquired The Bellmoor Inn & Spa, a 79-room luxury resort in Rehoboth Beach, Delaware, for $31.0 million, equating to $392,000 per room. The deal, funded with cash, offers a 10.4x EBITDA multiple and an 8.6% NOI capitalization rate as of August 2026. Post-renovations, the Hotel is expected to yield a 9.5% NOI. This acquisition highlights strategic investment in a supply-constrained, high-demand market.

📍 Dreamscape Hospitality, Dallas-based, will manage The Doyle in Charlottesville, Virginia, starting September 30. The hotel, at 499 W. Main Street, will join Hilton’s Tapestry Collection. Dreamscape aims to boost operational performance and guest satisfaction. The Doyle offers diverse dining, including a rooftop bar with panoramic views. This move expands Dreamscape’s U.S. presence, enhancing value through strategic management and Hilton’s distribution and loyalty network while preserving The Doyle's unique charm.

💸 Duetto, owned by GrowthCurve Capital, acquired Flyr Hospitality, previously part of the airline-focused Flyr, on Thursday. Flyr Hospitality entered the hotel pricing sector in September 2022 by acquiring Pace Revenue, which had over 1,000 hotel clients. This acquisition follows the resignation of Flyr's founder, Alex Mans, as CEO, with Kevin Marcus of WestCap stepping in. Flyr's Chief Product Officer, Sam Chamberlain, stated the unit would thrive under dedicated hospitality management.

🏨 Global Hotel Alliance (GHA) achieved a 27% revenue increase, totaling US$1.04 billion in Q3 2026, driven by a 33% rise in room nights. Total room revenue hit US$843 million, up 28%. Cross-brand revenues surged 53%. Membership grew by 17%, reaching 38 million. International travel generated US$589 million, up 40%. Spain led for total room revenue, while the US was the top feeder market. The alliance added 36 new properties, expanding its global footprint.