Mergers & Acquisitions - 10 Minutes News for Hoteliers - Page 51

2 min

Accor and Ennismore Expand Network in the Americas With 17 New Hotels

🏖️ Accor in exclusive negotiations to acquire 17 management agreements, totaling 3,200 keys, with Royal Holiday Group for $79 million, funding a $130M renovation within 30 months. Six resorts in Mexico to be managed by Ennismore and eleven in Mexico, Argentina, Puerto Rico, USA by Accor PM&E Americas. Rixos Hotels to debut in the Americas post-renovation, with three properties in Cancun, Cozumel, Puerto Vallarta. The deal, fostering regional growth and brand presence, especially in Mexico, is expected to close in the second semester of the year.

2 min

Smith Hill Capital and Bain Capital Announce $235 Million Refinancing for Gurney’s Montauk Resort

🏠 Smith Hill Capital and Bain Capital completed a $235 million refinancing for Gurney’s Montauk Resort & Seawater Spa in Montauk, New York. The 158-key oceanfront property includes 109 guestrooms, 35 suites, 8 cottages, 6 residences, 5 dining venues, a 30,000 square foot spa with 4 pools, a 20-treatment room facility, a salon, a fitness center, and 25,000 square feet of meeting space. JLL represented the sponsors in the financing of this 20-acre luxury resort.

Hilton to open a Waldorf Astoria in Turks and Caicos

🏖 Hilton to open Waldorf Astoria Turks and Caicos Dellis Cay in 2028, marking the brand's debut in the Turks and Caicos Islands. The resort and residential development on Dellis Cay will include 175 units—62 hotel guest rooms and suites, plus 113 branded residences, and will be accessible by a 25-minute boat transfer from Providenciales. The residential portion will feature 65 units, including nine six-bedroom ocean villas, eight five-bedroom beachfront villas, and 48 condominium keys. Amenities will include a 13,455-square-foot spa, 1,600-square-foot fitness center, multiple pools, and over 3,000 square feet of event space. Hilton’s current regional pipeline boasts over 130 properties under development in the Caribbean and Latin America.

1 min

The Editory by The Sea Lagos opens in the Algarve

🏖️ The Editory Collection Hotels opened a new five-star property in Lagos, Algarve, with a €63.8 million investment. The Editory by The Sea Lagos, owned by Sonae, features 204 rooms, including two suites, on the Dona Ana Beach shoreline. Amenities include the Coral Restaurant, an Oyster Bar, CRAB_ar, health club, swimming pool, Kids’ Club, and a 120-square-metre meeting space. Launched in 2021 with a €17.5 million investment, The Editory Collection now has 12 hotels in Portugal, aiming for 600 rooms by 2025.

Gurney’s Montauk lands $235M refinancing

🏖️ Smith Hill Capital and Bain Capital completed a $235-million refinancing for Gurney’s Montauk Resort & Seawater Spa. The property, managed by BLDG Management and Metrovest Equities, spans 20 acres with 2,000 feet of beachfront in Montauk, N.Y., featuring 158 keys, five dining venues, 25,000 square feet of meeting/event space, and a 30,000-square-foot spa. JLL arranged the financing, aimed at supporting the resort's position as a luxury destination in a high-demand leisure market.

Barclays backs Corinthia with £192 million loan

🏦 Barclays UK Corporate Bank agreed to a £192 million loan to Corinthia Hotels for its five-star London property, as part of a £205 million syndicated term loan. Corinthia London, in Westminster, has been with Barclays since 2009. The deal marks the largest hold by Barclays UK Corporate Bank in the hotel sector in 20 years, backed by their £22 billion Business Property Fund. Founded in 1962, Corinthia operates 12 properties, with eight under development in Rome, Bucharest, Riyadh, and Doha.

1 min

Blackstone Real Estate to Acquire 6M SF Industrial Portfolio Developed by Crow Holdings for $718M

🏢 Blackstone Real Estate's Core+ funds are set to acquire a 95% stake in a 6 million square feet industrial portfolio for $718 million, with Crow Holdings retaining 5% ownership. The portfolio features 25 Class A buildings mainly in Dallas and Houston. The transaction, showcasing Blackstone's strategy amid market volatility, includes assets in key U.S. industrial markets with limited vacancy. Blackstone currently owns over $90 billion in North American warehouses and nearly $170 billion globally. The deal is expected to close in the second quarter of 2025.

Europe’s hotel market faces new challenges in 2025

🏨 In 2024, Europe's upscale and luxury hotel market achieved €10.95 billion from 137 deals, with an average deal size of €79.9 million. Despite a strong performance, economic fears, tariffs, and volatility are now posing threats. Investors face increased caution due to potential recessions, inflated development costs from new tariffs, particularly affecting markets reliant on American tourism, and the possibility of lower asset valuations affecting investments and transactions.

1 min

Grand Metropolitan acquires Voile d’Or Hotels and Resorts

🏡 Grand Metropolitan Hotels acquires luxury brand Voile d’Or Hotels and Resorts, including all brand rights and management contracts. Voile d’Or operates in London, Paris, New York, Saint Jean Cap Ferrat, St. Barths, and Courchevel. The first hotel, Hotel La Voile d’Or, opened in 1925 and will reopen in 2029 after renovation. Jacques Oudinot becomes CEO, with Edouard Deschepper as board director. Martin Smura announces plans for expansion into the Maldives, Dubai, and Lisbon.

1 min

HREC Arranges Sale of Holiday Inn Express & Hampton Inn Glenwood Springs

🏠 HREC Investment Advisors arranged the sale of the 70-guestroom Hampton Inn and the 64-guestroom Holiday Inn Express in Glenwood Springs, Colorado. Nightcap Management acquired the hotels, having developed and purchased over 15 hotels worth $200 million in 5 years. Representation for the seller, Terrapin Investments, was by HREC's Herb Warmbrodt, Mike Dubé, Jeffrey Duni, and Adam Lallani. Glenwood Springs' lodging market is noted for its strong performance due to record tourism.

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