Rosewood Hotels & Resorts Expands Branded Residences in High-Demand Markets
Skift Take
- U.S. hotel industry saw positive growth in RevPAR and rates for the week ending September 30, with Group RevPAR showing significant improvement.
- Rosewood Hotels & Resorts is expanding its branded residence portfolio especially in Europe.
- Various hotel projects and developments are underway in different locations, including downtown Springfield, Norfolk, San Antonio, Beaufort, and Las Vegas, with a range of amenities and timelines.
The DJIA rose 127 points while Nasdaq was up 177, the S&P 500 rose 34 points and the 10-year treasury yield was down .07 to 4.74%. Lodging stocks were higher. SOND was up 6%, SHCO and INN were both up 5% on the day.
STR reported US lodging data for the week ended September 30. US hotel RevPAR was up 5.4% with rates up 4.6%. Group RevPAR rose 14.6%.
According to CoStar, more than 50% of Rosewood Hotels and Resorts’ existing portfolio and development pipeline include a branded residence. Rosewood Hotels & Resorts has 14 Rosewood Residences open and operating that are situated within or directly adjacent to a hotel or resort. Eleven residences are currently in the pipeline. Rosewood Hotel Group doesn’t have a preference between developing a stand-alone residence or one with a hotel, but a stand-alone allows the brand to enter in more “real estate markets” that aren’t n
