The DJIA fell another 325 points on Monday, Nasdaq was up 0.1%, the S&P 500 fell 0.6% and the 10-year treasury yield rose to 3.88%.
Peachtree Hospitality Development is on track to deliver a record year of development achievements. In 2022, PHD opened three select-service hotels, with another hotel slated to open later this year. In addition, the company will break ground this year on 11 hotels, primarily select service, across the U.S. These 11 hotels are expected to begin opening in late 2023 and into 2024. In total, Peachtree will add more than 1,500 rooms to its portfolio through these developments. Peachtree is breaking ground on three opportunity zones, including the Hampton Inn and Suites in Maui, which will be only the second-branded hotel in the Maui airport area. The other two are in Paso Robles, CA and Plainfield, IN.
Embassy Suites by Hilton Washington D.C. Convention Center announced the completion of its $30 million renovation that includes a complete transformation to the hotel featuring a fresh, modern redesign. The extensive renovation includes the complete overhaul of the property’s 388 two-room suites, fitness center and pool, lobby and public spaces, along with an upgrade to its 12,000 square foot meeting and event space, and a new on-site restaurant. An official celebration will take place at the property in early October.
Waramaug Hospitality announced the acquisition of the Hilton Garden Inn Huntsville South/Redstone Arsenal in Huntsville, AL and the Hampton Inn & Suites Athens 1-65/Huntsville Area in Athens, AL. The 102-room Hilton Garden Inn features 2,100 square feet of meeting space, a large indoor pool, deck area, fitness center, business center and guest laundry. The 88-suite Hampton Inn & Suites features 650 square feet of meeting space, a business center, fitness center, and indoor pool.
DoveHill Capital Management announced it had acquired a fee simple interest in the 221-key DoubleTree Deerfield Beach – Boca Raton Florida. DoveHill plans to enhance the property with a focus on the public areas. Plans include the addition of a new bar adjacent to the upgraded pool. In addition to the immediate operational upside, DoveHill will also explore future development opportunities on vacant portions of the expansive 6.2-acre site.
Island Hospitality Management assumed operations of the 143-room Hilton Garden Inn Westchester Dobbs Ferry in NY, bringing the company’s portfolio of third-party operated hotels to 83 nationwide. The five-story hotel provides 640 square feet of flexible meeting space, a business center, on-site restaurant, indoor pool and a fitness center.
Woodbury Corp. wants to build another Marriott hotel next door to the Courtyard by Marriott it already owns in the Historic Haymarket area of Lincoln, NE. The property would be an extended-stay hotel under the Residence Inn by Marriott banner. The six-story building would offer 120 rooms, a fitness room and business center. The hotel will be built on land owned by the University of Nebraska-Lincoln, who is not involved in the project. Woodbury paid a little more than $1.2 million up front for a 35-year lease and has three five-year options to extend the lease at $100,000 apiece.
Pandox AB entered into an agreement to divest InterContinental Montreal in Canada. The sale includes both the hotel property and hotel operations with a total transaction value of approximately C $80 million. The closing is planned to take place in the first quarter of 2023. The InterContinental Montreal has 357 rooms and is operated under a management agreement.
According to Pinellas County, FL records, Zamora Hospitality Group has sold Hotel Zamora, in St. Pete Beach, to a limited liability company tied to Sherman Associates. The four-story, 72-room hotel features a restaurant and a rooftop bar and lounge area.
Twenty-Four Seven Hotels announced the addition of four California hotels to its ever-expanding West Coast portfolio. The hotels include the 128-room Hyatt House Sacramento/Midtown, the 112-room Hyatt Place Newark/Silicon Valley, the 90-room Hampton Inn & Suites Marina, and the 119-room Holiday Inn Express Chino Hills. The company is currently providing pre-opening services to the soon-to-open hotels, which expect to be fully operational by December 2022.
Almost two years after renovation work began at the Mayfield Village Holiday Inn, in Mayfield, OH, Spark Hotels celebrated its new look with a ribbon cutting. Work done at the 49-year old building includes new exterior walls, windows and parapet. Each of the hotel’s 108 rooms was upgraded, as was the look of the on-site restaurant.
CorpHousing Group Inc. acquired long-term rights to the Lafayette Hotels, a 60-unit historic boutique property located in New Orleans, LA, via a 15-year Master Lease Agreement. The Lafayette hotel is CHG’s first property in New Orleans and brings the total number of hotels in CHG’s portfolio to 10.
The Pollard family, owners of the Hill Farm Inn in Sunderland, VT, have carefully restored and renovated Hill Farm’s inn, cottages and barns. The Pollards have now teamed up with Sagra to enhance and expand the Hill Farm which is now Hill Farm by Sagra, the company’s second location. The property offers 11 rooms in the historic inn and private cottages, a working farm, and an on-site restaurant.
Waymore’s Guest House and Casual Club will welcome its first guests on November 1. The East Nashville, TN property, which was formerly home to FieldHouse Jones Nashville, has 93 rooms, featuring 15 suites. Later this year, a ground-floor restaurant and café, and rooftop bar will open. Waymore’s is owned by L+R Hotels. New Waterloo will serve as the property management company.
Hilton announced the appointment of Diarmuid Dwyer to area managing director, overseeing Hilton’s managed portfolio in New York City. In his new role, Dwyer oversees the hotels’ general managers, area operations and commercial capabilities for New York City Hilton-managed hotels across its full service, lifestyle and luxury brands. Previously, Dwyer was the general manager of the iconic 1,878-room New York Hilton Midtown.
HP Hotels named Stephanie Atkisson Vice President of Sales, Marketing and Revenue. Stephanie is responsible for developing and managing the company’s direct sales and marketing efforts, overseeing the corporate and field sales and revenue teams, and providing support, direction and oversight as they work to maximize revenue and market share performance. Stephanie has spent the greater part of her hospitality career with the HP Hotels organization with over 14 years with the company.
Membership Collective Group announced Martin Kuczmarski will leave the company on or before September 30. Kuczmarski is COO of MCG. His responsibilities will be absorbed across the company’s existing regional operations leadership team including President Andrew Carnie. Kuczmarski is expected to enter into a consulting agreement with Soho UK to provide consulting services to the company for 12 months.
Hyatt’s Dreams brand is opening another new all-inclusive resort in Punta Cana in the Dominican Republic. The new Dreams Flora Resort and Spa is slated to open in December 2022 and is the sixth Dreams-branded resort in Punta Cana alone. The resort will feature 520 rooms; eight dining concepts, along with six bars and lounges; four pools, including a kids pool; and Dreams Spa by Pevonia.
Europe Highlights
Mandarin Oriental Hotel Group celebrated the opening of Mandarin Oriental Palace, Luzern, in Luzern, Switzerland. The hotel features 136 guestrooms, four restaurants and bars, SPA Bellefontaine, Salon Alpine, and four newly renovated venues.
Pandox AB acquired and gained access to a hotel property including hotel operations in central Bath, Great Britain. The hotel has 176 rooms and will be operated under a new management agreement with Axiom Hospitality, subject to a franchise under the DoubleTree by Hilton brand. The total acquisition price amounts to approximately MGBP 40 and will initially be financed by cash and existing credit facilities. The seller is a controlled affiliate of Starwood Capital Group.
Six Senses Rome opens in early 2023 as the brand’s first hotel to open in Italy. Located in the former Palazzo Salviati Cesi Mellini, the property offers 96 guest rooms and suites, a ground-floor restaurant-café-bar, a rooftop venue, and Six Senses Spa with three plunge pools, a Hamman, biohacking and mediation rooms, sauna, outdoor yoga deck, fitness center, five treatment rooms, and the Alchemy Bar.
