Mergers & Acquisitions

🏨 JLL Capital Markets secured acquisition financing for the Hyatt Regency Savannah, a 351-room hotel, in Savannah's Historic District. The borrower, a joint venture of Certares Real Estate Management and Clearview Hotel Capital, obtained a floating-rate loan from Goldman Sachs Alternatives. The hotel, opened in 1981, features 31 suites, 40,564 sq. ft. of event space, and a 300-space parking facility. Certares and Clearview's expertise was highlighted in securing this deal.

🍺 Brakspear, a pub operator based in Henley, reported a 16% increase in turnover, reaching £47.9m for 2025. EBITDA grew by 6% to £11.4m. The company invested £6.5m, a 20% increase from 2024, and acquired two pubs in Cirencester and Moreton-in-Marsh, adding 95 rooms. Honeycomb Houses saw a 23% turnover rise. New banking facilities of £25m were established for expansion. Cash reserves ended at £7.6m.

💸 PPHE Hotel Group reported a 6.3% increase in EBITDA to £48.4m for H1 2026, with RevPAR rising by 3.9% to £113.50. Average room rates grew by 4.2% to £157.30. The group acquired Park Plaza London Waterloo for £147.9m, funded by a £136.5m loan. A €27.6m refinancing agreement for art’otel Rome was secured, and a New York site sold for $33.5m. EBITDA margin improved by 40 basis points to 23.1%.

🏨 JLL arranged a $57 million refinance for the Sofitel Philadelphia at Rittenhouse Square, a 306-room hotel in Philadelphia. The 13-story hotel, originally built in 1966, was converted by Accor in 2000. The property features 16,000 sq ft of event space, with $26 million invested since 2011. Recent upgrades include meeting spaces (April 2023) and lobby renovations (May 2024). Located near key landmarks and universities, it is eight miles from Philadelphia International Airport.

🏨 The Gunter Hotel in San Antonio, Texas, has joined Marriott's LUMINOUS Program, a selective initiative for luxury travelers. This historic hotel, near the River Walk and Majestic Theatre, first opened in 1909. Owner Jiwon Choi of Axle Capital sees this as a milestone, reinforcing their dedication to exceptional hospitality. LUMINOUS connects high-value travelers with Marriott’s premium properties, offering exclusive amenities and personalized service. This program is accessible through authorized luxury travel advisors only.

🏨 Recent boutique hotel deals involve brands like Graduate, NoMad, Standard, Ace, and citizenM separating brand from real estate. Founders sell due to high OTA commissions (15–25%) versus lower costs from chains like Marriott and Hilton. Sharan Pasricha's ventures highlight the dilemma: scale with outside capital or stay independent. Deals include Hilton-Graduate, Hyatt-Standard International, and Marriott-citizenM. Survivors like Firmdale and Peninsula succeed with patient capital and real estate. Ennismore eyes a New York listing valued at $3.4B–$5.8B.

🏨 IHCL plans to merge with Oriental Hotels, already owning 37.1% of it. Oriental Hotels has properties in Chennai, Kochi, Madurai, Mangalore, Coimbatore, and Coonoor, including Taj Coromandel and Taj Fisherman’s Cove. This merger will consolidate assets and financials under IHCL, streamlining operations.