Mergers & Acquisitions

💸 UK: In November 2025, PPHE secured a £95.8 million refinancing deal with Aareal Bank for Park Plaza London Riverbank. The loan's maturity extends from June 2026 to June 2030. Until June 2026, the interest rate remains at 3.248%, shifting to 5.72% fixed for 85% of the loan thereafter, with the remainder on a floating rate. The loan's amortisation removal is expected to mitigate the higher interest cost impact on cash flow.

💸 Sonder, with 7,500 furnished units across 37 cities, filed for Chapter 7 on November 14, 2025. After forming an alliance in August 2024, Marriott ended its licensing with Sonder. Similar to WeWork, Sonder’s collapse stemmed from unsustainable fixed-cost lease agreements, raising $839 million in VC funding. Sonder’s strategy relied on rapid revenue growth via leasing, leading to structural unprofitability when economic conditions shifted. Pedan’s Kasa group acquired multiple ex-Sonder properties, including three in Florida, Nashville, and Detroit.

🏨 Maine Course Hospitality Group acquired the Homewood Suites by Hilton in Saratoga Springs, New York, adding its 27th hotel. The 113-suite property is near Saratoga Race Course and Skidmore College. Amenities include in-room kitchens, breakfast, socials, a fitness center, and an indoor pool. CEO Sean Riley expressed enthusiasm for joining the Saratoga community. The acquisition strengthens MCHG's presence across New England, the Mid-Atlantic, and Florida, as they continue expanding their portfolio.

🏠 New York City, 1624: Hudson Yards opened in 2019. 📍 35 Hudson Yards, a 92-story mixed-use skyscraper, includes the 212-room Equinox Hotel. 💰 Rooms can cost over $1,000 per night. Mori Trust bought the hotel's first 38 floors for $541 million. 🔝 Equinox Hotel features wellness amenities and a Sleep Lab. 🌍 Mori Trust also owns properties in Manhattan and other U.S. cities. In March 2024, Equinox secured $1.8 billion for loans and growth. 🏝️ Equinox Hotels is expanding to Anguilla.

💸 Edinburgh dominated Scottish hotel investment in January-September 2025, accounting for 74.4% (£227m) of the £305m total, per Knight Frank. Over 5 million visitors supported high investor interest, with hotel occupancy at exceptional levels. Significant deals include the sale of W Hotel to Schroders Capital and Bruntsfield Hotel to Dutco Group. Hotels led Edinburgh's property asset performance at £246m, outpacing offices, retail, and industrials. Investor demand remains robust with limited supply.

🏨 Blackstone sold the 1,003-room Sheraton Phoenix Downtown to Brookfield Asset Management. Located in Phoenix, it features 112,000 sq. ft. of meeting space, including the 27,200 sq. ft. Phoenix Ballroom. Opened in 2008 and renovated for $45 million in 2020, the hotel spans 806,481 sq. ft. It offers three dining venues, a 4,300 sq. ft. fitness center, and an outdoor pool. 🏨

🏠 Safestay will sell its Edinburgh Cowgate hostel freehold for £5.35m with a 10-year franchise agreement starting December 1, 2025. Originally purchased in October 2023 for £4.3m, Safestay invested £1.2m in refurbishment. It reported £0.95m in revenue and £0.125m profit before tax by December 2024. The franchise will bring £75,000 annually plus fees. Safestay aims to reduce debt and improve financial stability amidst pricing pressures affecting 2025 revenue.

🏠 Marriott expands its EMEA branded residential portfolio, boosting its footprint by 23% in Europe and 59% in the Middle East and Africa since late 2023. With over 50 projects in 18 countries, nearly 20 new agreements were signed in 2025, half being standalone residences. Key projects include Marriott Residences in Budapest and Dubai Islands. Two-thirds of 2025 signings are luxury, with high demand in coastal and urban areas. Affini in Dubai sold out in a week.

🏨 Oberland and RealVantage acquired Manchester's Grade II-listed Heathcote Hotel, originally built in 1899, featuring a grand staircase and Jacobean-Baroque façade. Supported by Swiss Finance & Property Group, with legal and tax advice from Brodies and BDO, C1 Capital Partners will manage operations. Co-founders Andrew Dean and William Riordan see restoration potential and value creation. Earlier, they partnered on Glasgow's Arthouse Hotel acquisition.

🏨 Down Hall Hotel, Spa & Estate in Essex received four AA Red Stars at the 2025 AA Hospitality Awards in London. The award, given to top British hotels, highlights the hotel's excellence in service and guest experience. Set within 110 acres, Down Hall features 98 unique rooms and award-winning dining. A new £1 million investment is underway to enhance the estate with The Woodland Table, The Barn Spa, and The Charles Gardens, opening in 2026.