Marriott expands its luxury portfolio; Dynamic City Capital acquires Charter Hotel – HOTELSMag.com

Marriott expands its luxury portfolio in Mexico: All-Inclusive by Marriott Bonvoy has signed three luxury all-inclusive resorts in Mexico with developer AB Living Group. Properties include the 105-key Almare, a Luxury Collection all-inclusive resort, Isla Mujeres (expected to open 2024); the JW Marriott All-Inclusive Costa Mujeres with 283 keys (expected opening in 2026); and the 300-room adults-only W All-Inclusive Costa Mujeres (expected to open in 2026). The signatures mark the first JW Marriott and W hotel in Costa Mujeres. Encompassing nine brands, the All-Inclusive by Marriott Bonvoy portfolio includes 30 properties worldwide.

Dynamic City Capital acquires Charter Hotel: Dynamic City Capital, based in Provo, Utah, has acquired the Charter Hotel Seattle, Curio Collection by Hilton. Opened in 2018, the 229-room hotel is the only Curio Collection property in the Seattle/Bellevue market. The 16-story hotel has over 10,000 square feet of event space, a rooftop restaurant and lounge with water and skyline views.

Funding of the Social Hub: The Social Hub (TSH), formerly The Student Hotel, has secured a €48.75m ($50.47m) financing deal from Santander in Portugal for a 26,600m² development in Porto along ‘Avenue. TSH will offer a 13,467 m² hotel and student residence in the city center, comprising 305 rooms, co-working spaces, restaurants and bars, meeting and event spaces, a gym and an on-site swimming pool. the roof. Construction is underway with the opening planned for the first quarter of 2024. Avenue will be responsible for the residential part of the development, spanning 11,000 m² with 93 residential units and 16 commercial units (3,560 m²) with an opening planned for the second quarter of 2023. The development will form the wider renovation of D. João I Square and is part of TSH’s growth strategy which will see its presence grow from 25 owned hotels to 50 hotels today. TSH’s current pipeline in Portugal further includes a development in Lisbon, while TSH is also exploring other opportunities in the market.

Monkfish Fusion: South Korea’s largest hotel group, Seoul-based Hotel Lotte, is merging its hotel and resort division to improve competitiveness and capitalize on an expected performance rebound with greater efficiency. The Lotte Hotel will grow from the current four divisions – Hotel, Duty Free, World and Resort – to three divisions. Lotte Hotels and Lotte Resorts recorded $590 million in cumulative sales through the third quarter of 2022, which is close to pre-COVID 2019 performance. The merger gives Lotte some 34 hotels (11,000 rooms) open or under development . Lotte added that it plans to launch new brands after the merger.

HREC arranges US$83.3 million financing for RADCO: HREC Capital Markets Group, Greenwood Village, Colorado, has arranged US$83.3 million in financing for the purchase of six select high-end branded serviced hotels in Florida by The RADCO Companies. The 583-key portfolio includes the 84 Courtyard by Marriott Panama City rooms, 90 Courtyard by Marriott Pensacola rooms, 128 Courtyard by Marriott St. Petersburg Downtown rooms, 89 Hampton Inn Panama City Beach rooms, 109 Fairfield Inn & Suites Panama City Beach rooms and the 83-room Home2Panama City Beach. The cross-guaranteed loan facility has been used to finance the acquisitions of three vendors with financing dates spanning three weeks. The non-recourse loan facility was provided by a national bank lender and includes a five-year term, fixed rate, two-year interest-only term and a US$6.3 million line of credit for finance building improvements.

First SIRO Hotel: Kerzner International Holdings, Dubai, United Arab Emirates, will launch its lifestyle and fitness hotel brand, SIRO, at Dubai‘s One Za’abeel development in Q4 2023. SIRO One Za’abeel will offer fitness and wellness programs, with access to expert advice and coaching. The hotel will also offer a free 3D body scan to assess guests’ physical fitness and offer personalized coaching. The hotel will include a health club, which will be the heart of the hotel on two floors and studios for group movement classes. SIRO has also announced that British-Somali boxer Ramla Ali will be the next member of Team SIRO, its ambassador program. The hotel will join One&Only One Za’abeel at One Za’abeel. One Za’abeel is developed by Ithra Dubai, a wholly owned subsidiary of Investment Corp. of Dubai. The two-tower mixed-use development will also include One&Only Private Homes, office space, a commercial podium and a cantilevered building, The Link, which will intersect the two towers.

London ADR Recovery Report: According to a recent HVS study. There has been a stronger recovery in part because of increased consumer demand driven by two years of no spending on travel, dining and travel, as consumers increased their savings levels in due to closures and the willingness of consumers to spend on vacation packages to compensate for missed travel opportunities. The current staffing crisis has also raised ADR, as many hotels have put rooms off sale, reducing occupancy and room rates. All of these factors have driven the fastest ADR recovery of any major recession in the UK in the last 50 years. Several London hotels will be able to retain the ADR upside they have gained over the year and primarily offset inflation in their 2023 pricing strategies. ADR should continue to rise ahead of inflation, protecting margins and supporting the trend of the last decades.

Airbnb is launching a feature for sublets: Airbnb, in partnership with several major landlords and management companies, will list designated apartment buildings where tenants can offer short-term sublets on site. A new page on the site will list these Airbnb-friendly buildings, allowing tenants to host their apartments like landlords. Rental properties generally do not allow tenants to sublet for short term stays. Airbnb will initially include 175 apartment buildings in more than 25 major markets. The feature will not be available in some cities, such as Washington, DC and New York, due to local restrictions on short-term rentals. Apartment buildings may also charge the primary tenant a fee of up to 20% of the price for each use of Airbnb. Guests in participating properties must be primary residents, as properties may limit the number of nights per month that the apartment can be sublet.

New happy hour options at Staybridge Suites: IHG’s Staybridge Suites brand has revitalized “The Social,” its happy hour experience, with enhanced offerings that include upscale menus and new beverage options. Available at all Staybridge Suites properties in the U.S. and Canada Monday through Wednesday from 5:30 p.m. to 7 p.m., the updated program features 10 rotating menus, providing variety for short-term and long-term guests. As part of the program’s development, hotel teams submitted menus for review, with Staybridge Suites St. Louis – Westport’s Italian dish Intermezzo selected as a permanent addition to the menu. In the US, Staybridge Suites will also offer a new beverage program, including beer from Anheuser-Busch and wine from AVA Grace Vineyards as part of the free happy hour.

A fire injures 1, damages 2 hotels: One person was injured and several rooms at two hotels on the island of Quintana Roo in Holbox, Mexico were damaged in a fire Monday night. The fire destroyed nearly 60 rooms at the Casa Las Tortugas and Posada Mawimbi hotels and damaged a restaurant. Casa Las Tortugas was completely destroyed in the fire. The fire is believed to have been caused by the explosion of a gas tank and spread rapidly due to the materials – palm fronds and wood – used to build the beachfront hotels.

HLS adds 2 AmeriVu: Hospitality Lodging Systems (HLS), Atlanta, Georgia, has added two AmeriVu-branded hotels to its portfolio. The hotels include a former 61-key Fairfield Inn in Grand Forks, North Dakota, and a former 80-key Super 8 in Aberdeen, North Carolina. This marks 23 AmeriVu Hotels operational in nine states. In addition to AmeriVu properties, HLS has 36 Budgetel Inns & Suites in 10 states and China, and 12 Haven Hotel properties in nine states.