Latest news with #lodging
Forbes
a day ago
- Business
- Forbes
You Can Now Spend The Night At One Of London's Most Iconic Restaurants
A two-bed "lodging house," Permit Room Lodgings is set above Dishoom's all-day cafe/bar Permit Room Portobello With eight locations in London, the beloved Indian restaurant group Dishoom is widely praised for its beautifully nostalgic design and fantastic Bombay street food-inspired menus. Now, for the first time, the team behind the restaurants is inviting guests to not only dine but stay the night at the new Permit Room Lodging, which opened this month (June 2025) above its latest all-day bar/café, Permit Room Portobello. Set above the ground-floor restaurant with its own private street entrance, the new accommodation is a private apartment, sleeping four and comprising of two en-suite bedrooms connected to a separate living room. The concept borrows inspiration from the traditional lodging houses in Bombay, comfortable places often run by Parsi proprietors. That same asthetic theme underpins these new digs. 'We kept coming back to wanting to keep things rooted in Bombay, and the warmth that envelops you the moment you arrive there,' says Shamil and Kavi Thakrar, Co-Founders of Dishoom and Permit Room, via press release. 'Bombayites are kind, generous and proud of their city. We thought, what if we could extend our hospitality to our guests even more fully? Some of our most cherished memories are from staying with friends and family in Bombay; the types of visits where the door is wide open and you're ushered inside to be taken care of. What if we could transport our guests to a romantic Bombay residence? These feelings of nostalgia and looking after people to the best of our ability led us to come up with our Permit Room Lodgings.' Working with acclaimed UK hospitality design studio Macaulay Sinclair, which also developed many of the group's stylish restaurants, the team delved deep into Bombay's past to guide the vibe. Research trips took them to local lodging houses, private family homes, and vintage Deco hotels including Bombay's Bentley's Hotel and Sea Green Hotel on Marine Drive. One standout inspiration was Kekee Manzil, the 1920s home of legendary Bombay art patrons Kekoo and Khorshed Gandhy, where eclectic charm and layered personality offered a roadmap for the interiors. The end result is a space that feels as much like a cultured friend's apartment as a boutique hotel. Over 30 original pieces of Bombay-sourced vintage furniture now sit proudly in the Lodgings, alongside bespoke beds, reclaimed parquet flooring and arched windows that pour light in. Art plays a major role in this new chapter. Both the Lodgings and downstairs dining area are adorned with works curated by Rajiv Menon Contemporary, the Los Angelos-based gallery known for championing young South Asian artists. Expect bold, contemporary pieces by the likes of Mustafa Mohsin, Maya Varadaraj and Nibha Akireddy. Other highlights at the Lodgings include Mauli Rituals amenities; a bespoke drinks cabinet stocked for cocktail-making; and a record player and hand-picked collection of vinyls, sourced from nearby record shop Rough Trade West, naturally. Books and magazines come courtesy of other Notting Hill neighbours Shreeji News and Books for Cooks. Each guest gets a Key to the City: Dishoom's insider guide to London, full of handpicked spots and local perks, perfect for discovering the area like a resident. But the best perk? Dishoom's famous complimentary chai is just a call away, plus guests get to skip to the front of the line at any Dishoom restaurant during their stay. Rates starting at at £700 per night (with a two-night minimum). The lodgings include over 30 pieces of furniture souced from Bombay Artwork has been curated in collaboration with Los Angeles-based gallery Rajiv Menon Contemporary to highlight modern South Asia art Design comes care of Macaulay Sinclair, UK-based interiors architect with a portfolio that includes Dishoom restaurants in Kensington, Battersea, and Kings Cross Permit Room Portobello is a new all-day cafe and bar from Dishoom, located below the new Permit Room Lodgings
Skift
2 days ago
- Business
- Skift
Hyatt Acquires Playa Hotels & Resorts
The DJIA fell 44 points while the Nasdaq was up 25, the S&P 500 fell 2 points and the 10-year treasury yield was up a bit at 4.40%. Lodging stocks were mixed. SOHO was the big gainer, rising 10% and popping its head above $1 for the first time in months. In observance of the Juneteenth holiday, there will be no Daily Lodging Report on Thursday, June 19th. STR reported U.S. hotel data for the week ended June 14th. RevPAR was down -1.8% year over year, with occupancy down -2.4%. Group RevPAR was up 1.3%. Hyatt Hotels Corporation announced the completed acquisition of Playa Hotels & Resorts N.V. The transaction included the acquisition of 15 all-inclusive resorts previously managed and owned by Playa. Of these, eight were already represented within Hyatt's system as Hyatt Ziva and Hyatt Zilara properties. As part of the transaction, Hyatt expands its all-inclusive portfolio with the addition of several resorts located in premier beach destinations, including Secrets La Romana and Dreams La Romana in the Dominican Republic; Dreams Rose Hall in Montego Bay, Jamaica; and Hyatt Vivid Playa del Carmen and Sunscape Cancun in Mexico. Correction: Sunday's DLR contained coverage of a story on Jalisco announcing a $1 billion investment to build 38 new hotels. We have been advised by Hyatt that despite what was said in the press release, Hyatt does not have plans to invest in Jalisco but is always open to discussing and considering development opportunities in key leisure markets like Jalisco. The Federal Trade Commission granted Marriott International antitrust approval to acquire the CitizenM hotel brand. CitizenM will continue to own its real estate and operate the hotels following the closing of the transaction. MAR will assume the CitizenM brand and IP. A new $35 million hotel could be coming to Padre Island in Texas. According to blueprints that RGB Hospitality filed with the city of Corpus Christi, the development would include a Marriott Residence Inn and a Courtyard by Marriott attached to each other, making a resort. The resort-hotel design features 205 guestrooms, a spacious conference area, and three bars. RGB Hospitality hopes construction will begin by the end of summer 2025. Once construction begins, the development is expected to take about two and a half years to complete. Key International and Wexford Real Estate Investments announced the June 25, 2025, reopening of the Fort Lauderdale Marriott Pompano Beach Resort, unveiling an extensive multi-million dollar renovation. The resort will emerge from its first phase of renovation with 100 newly appointed guestrooms, including 16 spacious suites, in its North Tower. The remaining 119 guestrooms and suites in the South Tower will debut in late 2025. Anchoring the resort's evolution is a new 3,000 square foot, zero-entry pool; a revitalized beach experience including the resort's Tiki Bar; and two brand-new dining concepts. The resort boasts over 8,000 square feet of versatile indoor and outdoor event space. The first phase of the renovation will unveil a 3,000-square-foot outdoor oceanfront terrace and a 2,800-square-foot ballroom. In late 2025, two additional spaces will be unveiled. Reservations officially opened for Naples Beach Club, A Four Seasons Resort. Debuting in October 2025 in Naples, Florida, the new beachfront property is brought to life through the partnership between BDT & MSD Partners, The Athens Group, and Four Seasons. As the only Four Seasons on the Gulf Coast, the hotel sits within the 125-acre Naples Beach Club residential and golf resort. In addition to the hotel, the expansive development features 58 luxury condominiums in three new beachside residential buildings, and 95 luxury condominiums in five golf-side residential buildings with views of The Gardens, a newly designed 18-hole golf course. With 220 accommodations, including 57 suites, along with 153 residences, the extensive property will feature five diverse dining experiences, a full-service spa, racquet sports facilities, versatile meeting and event venues, the new golf course, and more. Resolute Road Hospitality announced the Holiday Inn Express Astoria, Oregon, has completed a comprehensive renovation. The four-story, 98-room property underwent a significant capital improvement. The project included a full renovation of guestrooms and public areas, including a redesigned lobby, a modernized breakfast area, an upgraded fitness center, a refreshed indoor pool, and an expanded outdoor patio. Omni Las Colinas Hotel, located in Irving, Texas, has completed a $20 million renovation across all 421 guestrooms including 111 suites, and the Las Colinas Ballroom, the property's largest event space. Following the $13 million revitalization of the property's common spaces, this final phase of the property-wide renovation reflects the pioneering vision of Las Colinas. The previous renovation introduced The Lakehouse Waterfront Lounge & Pool Deck and three new dining concepts. Castle Resorts & Hotels announced the Castle Hilo Hawaiian Hotel, on Banyan Drive in Hilo, Hawaii, has joined the Trademark Collection by Wyndham. The Hilo Hawaiian is the first property in Hawaii to be part of the global hotel brand. The property features 286 guestrooms and suites, a pool, meeting spaces, and a signature WSW Steakhouse restaurant. Charlestowne Hotels announced its continued expansion with the takeover of Hotel Nell, located in Washington, D.C.'s Union Market neighborhood. Charlestowne will oversee all management of Hotel Nell, including day-to-day operations, food & beverage programming, revenue optimization, strategic marketing, and creative services. The 106-room property boasts 10,000 square feet of flexible event space and three distinct dining outlets. The Phoenix Hotel in San Francisco will close at the end of the year, according to the San Francisco Chronicle. Chip Conley, longtime hotelier and founder of Joie de Vivre Hospitality, and his partners hold the lease to the property and own the hotel's name and brand but not the land. The San Francisco Baking Institute bought the property for $9.1 million last year. The long-shuttered Gulfstream Hotel in downtown Lake Worth Beach, Florida, will reopen this fall, and would-be guests will be able to book reservations starting on June 19, 2025, for summer 2026. The Gulfstream Hotel will open 90 rooms when it opens this year, with 50 more rooms coming in 2026, according to a hotel news release. It will also have 50 apartments, a rooftop restaurant, bar, spa, gym, and a 273-space parking garage. The hotel is under the ownership of Amy Gill and her husband Amrit Gill. The Mount Vernon Company announced the acquisition of the John Carver Inn & Spa located in the heart of historic Plymouth, Massachusetts. Under Mount Vernon's stewardship, the property will be repositioned and re-imagined. The 80-room inn currently features a full-service spa, indoor pool, meeting and event space, fitness center, game room, onsite dining, and ample parking. Plans for repositioning will include refreshed interiors, enhanced amenities, elevated dining, and curated programming. The John Carver Inn will be managed by Olympia Hospitality and will remain operational during the initial phase of planning, with renovation plans to be unveiled in the coming months. Ruberto, Israel & Weiner's Commercial Real Estate team represented Mount Vernon in this transaction. JLL Hotels & Hospitality represented the seller. HVS Brokerage & Advisory announced the sale of the 60-key La Quinta Inn & Suites Corpus Christi - North Padre Island, located in Corpus Christi, Texas. The property was purchased by Mr. Inderjit Randhawa from South Texas Hotels, LLP. Personnel News Essex Hotel Management has promoted John Kattato to Chief Operating Officer. In his new role, Kattato will continue to oversee the operations team while expanding his responsibilities to include all departments. His focus will include fostering company culture, assisting with strategic initiative development, and providing leadership and guidance to department heads. Additionally, Kattato will increase his visibility outside the company as he continues to develop strong relationships with key clients, hotel owners, and other stakeholders. Kattato has been a key member of the Essex team since he joined the company in 2003, most recently serving as Senior Vice President of Operations. Overseas Highlights IHG Hotels & Resorts and Grupo Poma, through its hotel division Real Hotels & Resorts, celebrated the opening of InterContinental Real Lima Miraflores and Hotel Indigo Lima Miraflores, sister properties located in Lima, Peru. InterContinental Real Lima Miraflores is a 21-story hotel with 321 rooms, including 29 suites, a signature Club InterContinental lounge, 11 multifunctional meeting rooms and over 950 square meters of space, and a stunning rooftop with lush gardens and the destination's largest outdoor hotel infinity pool. Hotel Indigo Lima Miraflores offers 76 rooms, including 10 suites, a rooftop pool and lounge, and versatile gathering spaces. The destination's newest culinary epicenter features five distinct concepts spread across both properties. Additionally, the property offers the Presence Spa and fitness centers. Europe Highlights Hyatt is bringing a new Thompson Hotel to Seville, Spain, in 2026. The 101-room hotel is expected to feature a restaurant, a rooftop bar, a pool, meeting rooms, a co-working space, and a gym. Thompson Seville will be Hyatt's fourth Thompson property in Europe.
Skift
3 days ago
- Business
- Skift
U.S. Hotels Face a Challenging Landscape This Year
The DJIA fell 299 points, the Nasdaq was down 180, the S&P 500 fell 50 points and the 10-year treasury yield was down .06 to 4.39%. Lodging stocks were modestly in negative territory on the day. In 2025, the U.S. lodging sector faces a challenging landscape, characterized by a combination of macroeconomic and capital market factors, according to PwC. As a result of the macroeconomic headwinds, GDP in 2025 is expected to grow by 0.7%, compared to 2.5% in 2024, on a fourth-quarter over-fourth-quarter basis. Inflation is anticipated to rise 2.7% in 2025, which, coupled with geopolitical uncertainties, is expected to significantly influence consumer behavior, particularly impacting the lower-priced chain scale segments. As a result, PwC expects RevPAR growth to decelerate significantly to 0.8%. The key risks continue to be on room night demand, just as lodging supply growth is reverting to its long-term average of ~2.0%. Key demand performance trends and risks include: International leisure travel has declined noticeably, marked by a 3.3% drop in visitors in the first quarter compared to last year. In contrast, inbound corporate travel has improved, with a 10% and 17.4% increase from Europe and Canada, respectively. Domestic leisure travel growth has slowed significantly due to a combination of inflation concerns and declining consumer sentiment, while domestic corporate travel is showing mixed results, with stable premium offerings and group travel demand despite softened lower-tier demand. Hotel operating performance continues to be bifurcated, with luxury hotels outperforming economy properties. YTD through April luxury RevPAR grew by 7.1%, while economy hotels saw only a 0.9% increase, compared to the same period last year. Despite a slowdown in hotel development, upscale segments continue to see new projects. PwC's outlook anticipates significant deceleration in travel demand in Q2, with expected positive momentum recommencing in the second half of 2025. As a result, PwC expects RevPAR in the second quarter to decline by 1.2% year-over-year, driven primarily by occupancy. PwC also expects RevPAR in the third and fourth quarters to increase by 1.1% and 1.8% respectively. For 2026, global events like the FIFA World Cup could boost tourism. HHM Hotels announced the Courtyard by Marriott Philadelphia Downtown has announced a new name following an all-encompassing property renovation that included the renovation of every guestroom and public area of the hotel. Formerly the Le Meridien Philadelphia, the 202-room hotel features an onsite restaurant and bar, 9,165 square feet of flexible event space, a fitness center, and an onsite market. Hilton's Canopy brand has made its debut in Nashville, Tennessee. Located in the city's Gulch district, Canopy by Hilton Nashville The Gulch features 181 rooms, including 27 suites and five distinctive dining experiences. Hotel Indigo Nashville - The Countrypolitan has completed the second phase of its multi-year transformation. This latest phase included a full renovation of all 134 guestrooms and suites, modernization of the hotel's 6,500 square feet of meeting and event space, and a new fitness center. This renovation completes The Countrypolitan's upgrade to an authentic Nashville experience. HEI Hotels & Resorts has added Waymore's Guest House and Social Club in Nashville to its growing portfolio of upper-upscale independent boutique hotels and resorts throughout the United States. Owned by L+R Hotels, Waymore provides 93 rooms, approximately 4,200 square feet of meeting space, and two F&B outlets. Margaritaville Hotel Kansas City, in Kansas City, Kansas, will host a ribbon cutting and preview event today. The 229-room hotel will start taking reservations on July 1. The hotel will feature an indoor pool, an outdoor resort-style pool, retail and family entertainment centers, along with a bar and grill. The historic Casa Marina Hotel, in Jacksonville Beach, Florida, is under contract to be sold, according to News4JAX. The property has a planned renovation for 2026. It's unclear when the pending sale will be finalized. The Avila Village Inn, in Avila Beach, California, has unveiled an expansion that blends upgraded guest amenities with thoughtfully designed new accommodations. The boutique property has added 18 brand-new rooms in the Forest Building and completed enhancements to its original 30 rooms in the Craftsman Building. Hotel El Roblar, in Ojai, California, is reopening on June 19, according to the Ojai Valley News. Eric Good, Jeremy McBride, Warner Ebbink and Ramin Shamshiri purchased the property and transformed Hotel El Roblar to highlight its Spanish Revival and early Californian architecture while updating its bones. The revamped hotel remains an intimate property, featuring only 50 rooms. There are 31 rooms in the main house, 11 rooms are bungalows, and eight rooms are in a new building on the property called the Sycamore House. There's also a pool, gym, treatment room, and event space. The first patients will be seen in early 2025 inside the new Sanford Orthopedic Hospital, which will open a boutique hotel inside at the same time. Located in Sioux Falls, South Dakota, the nine-story building will have 35 rooms to serve patients both before and after procedures, 12 operating rooms, and an intra-operative MRI attached directly to an OR. The building also includes the new Highpoint Hotel, a boutique hotel with high-end finishes and amenities developed and operated by Hegg Cos. The lobby is on the fourth floor, which includes a fireplace, an expanded gym, and a bar. The 56 guestrooms are on floors six and seven, while the fifth floor eventually will be built out as 19 inpatient hospital rooms. The hotel expects to start accepting reservations in mid-October and open for the first guests on January 12, 2026. HREC Investment Advisors arranged the sale of the 149-room Sonesta Select - Kansas City Airport Tiffany Springs located in Kansas City, Missouri. The property was acquired by KMG Hotels. HREC Investment Advisors exclusively represented an affiliate of Service Properties Trust, as the seller in this transaction. Personnel News Noble Investment Group announced the addition of Tim Bowes and Mark Klawitter to its asset management leadership team. Bowes will help lead asset performance across Noble's upscale select-service hotel portfolio, partnering with operating teams to implement innovative strategies that unlock value. Most recently he served at Hospitality Investors Trust, a Brookfield company. Klawitter will help spearhead execution across Noble's branded long-term accommodations platform, guiding initiatives that drive revenue, profitability, and operational innovations. He most recently served at Extended Stay America. Europe Highlights Together with landlord Vasakronan, Scandic plans to open a modern, new 236-room hotel in downtown Uppsala, Sweden. In addition to a gym, bar, and flexible meeting facilities, the new hotel will offer a large restaurant. The property is being developed as a mixed-use building, combining both hotel and office spaces, which means that hotel guests and office tenants will share the lobby and entrance areas. Construction is scheduled to begin in the autumn of 2025, with the grand opening planned for the second quarter of 2028. In the UK, the design overhaul of the Malmaison, on Newcastle's Quayside, will see a £3m refurbishment to revamp all of the hotel's 122 bedrooms and suites. The company had initially planned a £2m refurbishment program, but a more ambitious scheme has now been announced. The project is being phased in to minimize disruption and is expected to be completed later this year. Hilton is planning to build a new hotel with 142 rooms in Shropshire, England. Telford & Wrekin Council has signed an agreement with Hampton by Hilton for a six-story hotel within the town's new Station Quarter. A provisional opening date of 2027 was given.
Skift
4 days ago
- Business
- Skift
6 Playa Hotels Are Rebranded to Hyatt
The DJIA rose 317 points, the Nasdaq was up 294, the S&P 500 rose 56 points and the 10 year treasury yield was up .03 to 4.45%. Lodging stocks were mostly higher today, led by SOND with a 7% rise, while PEB and SHCO were both up 6% on the day. Truist Securities reported on the conference call they held last week with CoStar to discuss their updated U.S. lodging forecast and recent industry trends. CoStar's presentation at the NYU conference showcased a bumpy macro backdrop, decelerating YTD lodging results, and a lowered 2025/2026 lodging forecast. They labeled international demand as sliding/likely getting worse while mentioning a slower development pipeline and slow asset transaction activity. As you can see, they did not have a lot of good things to talk about. Summer travel is a bit tricky to decipher as the bookings are down, but travelers are still booking, but closer to the arrival dates. CoStar is not super worried about weak on the books and views the negative headlines as a false negative, but there is not much visibility into peak months with the short booking window. The luxury segment continues to outperform with strong demand and very healthy pricing power. Baird reported on six of Playa's hotels being rebranded to a Hyatt flag. When Hyatt moved on to the acquisition of PLYA, seven of their hotels did not carry a Hyatt flag. The change resulted in Hilton losing four properties and Wyndham losing one. Hilton now only has a dozen remaining all-inclusive resorts globally. The Wyndham Altra Playa del Carmen continues to accept reservations. Baird believes this hotel could be sold separately. The World Travel & Tourism Council (WTTC) has projected a landmark achievement for Mexico's tourism sector in 2025. According to their latest forecasts, the industry is expected to contribute $281 billion to the national GDP, making up 15.1% of the country's total GDP. The WTTC's Economic Impact Report, developed in collaboration with Oxford Economics, suggests that by the end of 2025, the tourism sector will support nearly 8 million jobs in Mexico, accounting for 13.3% of all employment in the country. The report also forecasts that international visitor spending will reach $39.6 billion, a 7.5% increase compared to 2019, and domestic tourism spending will surge to $209.9 billion, up 9.9% from previous highs. Looking towards 2035, the WTTC anticipates that Mexico's Travel and Tourism sector will contribute $362.3 billion to the economy, representing 16.2% of the national GDP. In North America, by 2025, travel and tourism are expected to contribute $3 trillion to the GDP, accounting for 8.8% of the regional economy. International visitor spending is anticipated to exceed $233 billion this year, with domestic spending projected to grow by 1.4% annually to $1.8 trillion. A Philadelphia developer is planning major changes at the Sheraton Atlantic City Convention Center Hotel. According to the Philadelphia Business Journal, Scannapieco Development Corporation plans to make half of the Sheraton's hotel rooms apartments. The remaining 250 rooms on the 3rd to 9th floors will be renovated. The apartments will primarily be made by combining two hotel rooms into one apartment. The 131 new apartments will cater to the over-55 crowd. There will be one gym for the hotel section of the building and another for the apartments. The hotel and the apartments will share the lobby. The hotel renovations should be finished in less than a year, and the apartment transitions are expected to take 18–20 months, with work beginning later this year. VP Management celebrated the grand opening of the Fairfield Inn and Suites by Marriott located in Beckley, West Virginia. The 95-room hotel features an outdoor patio, indoor pool, fitness center, and meeting rooms. TownePlace Suites Pensacola has recently completed a multi-million dollar renovation transforming the all-suite hotel's communal spaces and 97 guestrooms and elevating the guest experience. The renovation touched the lobby and breakfast area, the fitness center, and the pool and patio. TownePlace Suites Pensacola is owned by Apple Hospitality REIT, Inc. and managed by McKibbon Hospitality. The Indianapolis Airport Authority broke ground on the new Westin Indianapolis Airport hotel to be built on the airport's terminal campus. The Indianapolis Airport Authority expects work on the hotel to be finished in December 2027. The hotel will include 253 guestrooms, a full-service restaurant, a fitness center, a seventh-floor bar and lounge area, approximately 10,000 square feet of meeting space, and a pedestrian passage through the hotel to the airport garage. A new Hilton-branded hotel held a grand opening on June 11 in Spring Lake, North Carolina. The Spark Hotel by Hilton offers 88 guestrooms, a communal lobby, a breakfast bar, a fitness center, and an outdoor pool. Millennium Hotels and Resorts announced the rebranding of Millennium Downtown New York as M Social Hotel New York Downtown, scheduled to debut in the summer of 2025. Located within Manhattan's vibrant Financial District, the hotel boasts 569 newly renovated rooms, including 98 suites; 3,500 square feet of versatile event space across six meeting rooms; and a fully transformed lobby. The property plans to open the Beast & Butterflies restaurant by late 2025. The Hyatt Regency Austin has begun a full hotel renovation, which is expected to be completed in September. According to a news release, the Hyatt Regency Austinrenovation includes a comprehensive redesign of the hotel's 448 guestrooms and suites, corridors, meeting facilities, and public spaces. The hotel will also introduce a new hotel dining option, Ripple & Roots. The hotel will remain open during the renovations, with new spaces opening in phases. Royal Beach Hotel Punta Cana will officially open for guests on July 1, 2025. The 66-room resort features a restaurant, lobby bar, a pool with a bar, fitness center, spa, and 2 meeting spaces. The resort will fall under the JdV by Hyatt brand. Barbados is witnessing a luxury hospitality renaissance as the collection of resorts previously gathered under the Elegant Hotels banner undergoes a $150 million renovation and relaunch. Seven luxe beachfront properties in all are part of the initiative, which will see them re-imagined and integrated into Marriott International's high-end brand portfolios: Autograph Collection, Tribute Portfolio, and The Luxury Collection. The Waves Resort & Spa in Saint James has reopened as Barbados' first all-inclusive wellness-focused boutique luxury resort, under the Autograph Collection banner. The partly adults-only sanctuary has been completely re-imagined and features a spa and two distinct dining concepts. Treasure Beach has now reopened as the Treasure Beach Art Hotel, also under the Autograph Collection. The 35-key, all-inclusive boutique luxury property is located on Barbados' legendary Platinum Coast. Completing the initial phase of the renovations is The House, which also recently reopened as part of the Autograph Collection portfolio. The upgrade project extends beyond these initial properties, with additional transformations scheduled through 2025 for Tamarind, which will also reopen as an Autograph Collection property; as well as Crystal Cove and Turtle Beach, both scheduled to reopen as all-inclusive resorts under the Tribute Portfolio. The Colony Club, on the west coast of Barbados, will reopen as a Luxury Collection resort. Personnel News Westgate Resorts announced the appointment of Angel Miranda as its new Chief Information Officer. Miranda has been serving as the company's Interim CIO since the beginning of the year.
Skift
11-06-2025
- Business
- Skift
IHG's Voco Brand Hits 100 Hotels
The DJIA gained 105 points today, the Nasdaq was up 124, the S&P 500 rose 33 points. Lodging stocks were modestly higher. Hyatt Hotels Corporation announced that 101,891,119 shares of Playa Hotels & Resorts N.V., representing approximately 82.8% of Playa's outstanding shares, were validly tendered and not withdrawn prior to the expiration of the initial offering period on June 9, 2025. For purposes of the minimum tender condition, the aggregate number of Playa ordinary shares validly tendered and not properly withdrawn, together with the 12,143,621 Playa ordinary shares owned by Hyatt and its affiliates as of June 9, 2025, represents approximately 92.7% of the outstanding Playa ordinary shares. As a result, the minimum tender condition and other conditions of its previously announced tender offer to acquire Playa for $13.50 per share or approximately $2.6 billion, including approximately $900 million of debt, net of cash, have been satisfied. All validly tendered shares are expected to be accepted for payment on or about June 11, 2025. Playa ordinary shares are expected to be suspended from trading on the Nasdaq prior to the opening of the market on June 16, 2025. IHG Hotels & Resorts celebrated the milestone of 100 open hotels for its vocobrand within just seven years. Launched in 2018, voco has quickly become the fastest-growing brand within IHG's Premium collection, having achieved record development activity levels across openings and signings in 2024, with properties in over 2 countries and further market entries in Turkiye, Malaysia and Aruba set for the next two years. In 2023, it had 100 open & pipeline hotels and since then has almost doubled both its system and pipeline. Recent milestone openings and signing for the brand include: voco Guilin Yangshuo, Guangxi, China marks the 100th voco hotel. The property features 73 guestrooms across six villas and an onsite restaurant. voco Quang Binh Resort by IHG is the world's first voco resort, set along Bao Ninh Beach in Dong Hoi, Quang Binh Province, in Vietnam. The resort features 68 suites and beachfront villas, a spa featuring 17 treatment rooms, an onsite restaurant, and a pool bar. voco The Shelby, located in Myrtle Beach, South Carolina, will soon debut as the first voco hotel in the state and the brand's first-ever beachfront property in the U.S. The 241-room retreat offers an onsite restaurant, lazy river and a poolside bar. voco Laguna Hills is the brand's debut property in California. The 148-room hotel features a range of amenities, including an outdoor pool and hot tub, fitness center, business center, and 11,000 square feet of versatile meeting and event space. Bringing the brand to Utah, voco Moabfeatures 101 guestrooms, an onsite restaurant, self-service laundry, an indoor pool and hot tub. The 58-room voco Flagstaff opened its doors as the brand's second Arizona property. The voco brand recently expanded its footprint in New York Citywith the signing of voco Times Square, joining its existing Times Square Southlocation. This newly built, 32-story hotel will feature 423 guestrooms, making it the largest voco property in the Americas. This marks the fourth voco hotel developed in partnership with AC Developers, who are also set to open voco Astoria later this summer. voco Hermosillo is a modern 136-room hotel with a specialty coffee bar and an onsite restaurant. Grupo Posadas announced that it is close to a growth of more than 1,100 rooms in the all-inclusive beach destination hotel segment this year. Some of the destinations where these properties will be opened are Nuevo Vallarta, Playa del Carmen, Los Cabos, and Punta Cana. The company pointed out that the beach hotels achieved an average occupancy rate of 76% and an increase of 16% in RevPAR during the last year. Recently, it was announced that the company will invest 18 billion pesos over the next three years to build 30 hotels in all categories. Grupo Posadas specified that in the case of its new Fiesta Americana Nuevo Vallarta property, it will be a family resort located in the northern hotel zone of Puerto Vallarta, Jalisco. As for the Fiesta Americana Funeeq Punta Cana, it will have 498 rooms and is intended as a new-generation all-inclusive resort, designed to cater to guests of all ages. Located in the Uvero Alto beach area in Punta Cana, this property will open in the fall of 2025 as part of Posadas' Caribbean expansion. In South Carolina, the Aiken City Council decided to enter negotiations with the Oliver Group to revitalize and revive the dormant and decaying Hotel Aiken. It is a big change of fate for the hotel whose planned demolition was the centerpiece of the so-called Project Pascalis as recently as 2022. Once revitalized, leaders hope Hotel Aiken is a catalyst in the rest of downtown. The Boca Raton in South Florida unveiled a new exclusive experience: The Boca Raton Suite Collection. This curated portfolio of the resort and private club's most luxurious suites extends a layer of exclusivity infused with remarkable experiences. Set across the property's Tower, Beach Club, and Yacht Club, The Boca Raton Suite Collection is more than just a stay, it's a fully immersive experience that redefines ultra-luxury hospitality in South Florida. Guests enjoy a dedicated butler and pre-arrival ambassador to tailor their itinerary, a cruise aboard The Boca Raton's private yacht, and a host of exclusive benefits including: Access to the Top of the Tower, a 27th-floor private lounge; priority dining and activity reservations across the resort's 15+ restaurants; fitness club; golf and racquet facilities; reserved pool seating at Harborside Pool Club and reserved beach seating at the Beach Club; and more. Reade Hotel Management is pleased to announce its transition from USLI Hospitality Management to better align with Reade Hotel Capital. While the company's name is changing, its mission to deliver exceptional management services and outstanding guest experiences remains the same. Green Card Fund will be providing an EB-5 loan for the Seahaus Hotel, part of the Tribute by Marriott collection. The Seahaus Hotel will be the only non-gaming, full-service hotel on the Atlantic City Boardwalk. At the opening, the Seahaus Hotel will feature 105 rooms, retail space, and a fitness center. In the fall, a tower will be added, creating an additional 36 rooms. Green Card Fund, which operates multiple EB-5 regional centers, will provide the project with a $9.8 million EB-5 loan. The total project cost is $28.8 million. Green Card Fund's parent company also supplied the project with a bridge loan. Driftwood Capital, through its lending fund Driftwood Lending Partners, LP, provided $35 million in mezzanine financing for the refinancing of the Sheraton Dallas Hotel, Texas' largest hotel with 1,841 keys. The mezzanine loan is part of a broader refinancing by the borrower, a joint venture sponsored by Chartres Lodging Group. The transaction includes the full replacement of a 2024 $270 million CMBS with a new $300 million senior loan originated by Goldman Sachs and JP Morgan Chase Bank. In tandem, DLP upsized its original $30 million mezzanine loan to $35 million. The two-year loan includes three, one-year extension options. The Sheraton Dallas Hotel includes more than 230,000 square feet of meeting and pre-function space, five onsite restaurants, 113 meeting rooms, and 1,100 parking spaces. Personnel News Charlestowne Hotels announced the appointment of Alicia Carr as Vice President of Finance. Carr will lead financial operations across Charlestowne's growing collection of hotels and food and beverage outlets, overseeing strategic planning, budgeting, and performance analysis to support continued success and operational excellence. Most recently, Carr served as Vice President of Finance at Collegiate Hotel Group. Giri Hotels announced the appointment of Norman Hebert as Corporate Food and Beverage Director. With over 25 years of hospitality leadership and culinary expertise, Hebert will oversee food and beverage operations across Giri properties. Hebert comes to Giri Hotels from OGT Inns where he served as Senior Manager of Operations. Europe Highlights Mandarin Oriental announced it will manage and rebrand the San Clemente Palace Hotel in Venice, Italy. Mandarin Oriental will operate the hotel until its seasonal closure in November 2025, when an extensive three-phase renovation will commence. It will be rebranded as Mandarin Oriental, Venice, from April 2026. Situated on its own exclusive private island, the re-imagined property will feature 136 rooms and suites, four distinctive dining venues, The Spa at Mandarin Oriental, wellness amenities including a dedicated yoga pavilion, an outdoor pool, tennis and paddle courts, expansive indoor and outdoor event spaces and a dedicated children's area.
