Mergers & Acquisitions

🏨 Driftwood Capital finalized a $1.2-billion hotel consolidation, combining 18 hotels with 4,203 rooms across 10 states. Properties include Hilton, Marriott, and Margaritaville brands, with locations in California, Texas, Florida, and more. Financing involved a $330 million senior loan by Wells Fargo and $85 million in preferred equity from ACORE Capital, which manages $19 billion. Notable hotels in the portfolio are Margaritaville Lake Resort with 520 rooms and Marriott San Diego Mission Valley with 353 rooms.

🏦 Accor in talks to acquire management of 17 properties across Mexico, Argentina, Puerto Rico, and the U.S., including 3,200 keys. The $79 million deal involves a $130 million renovation over 30 months. Six resorts will join Ennismore's all-inclusive portfolio, with three rebranding as Rixos Hotels. Eleven properties will adopt Swissôtel, Mercure, or ibis Styles branding. Deal closure is anticipated for the second half of the year, pending regulatory approvals.

🏖 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.

🏖️ 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 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.