The DJIA was up 13 points, Nasdaq was down 23, the S&P 500 was up 4 points and the 10-year treasury yield was down another .07 to 4.27%. Lodging stocks were mixed. RHP traded up to another new high, VCSA was up 9% but SOND was down -7% to another all-time low, SLNA fell -17% to another low and VAC also traded down to a low.
STR gave US hotel data for the week ended 11/25. US hotel RevPAR was down -0.6% for the week with an ADR gain of 0.9% not able to make up for a -1.4% drop in occupancy. Group RevPAR was up 8.3%.
Curio Collection by Hilton is recognizing a robust year of openings that have paved the way for the brand to reach its 150th opening milestone by the end of 2023. The addition of 19 properties to the portfolio by year’s end, including the debut of 10 first-in-market hotels, reaffirms the brand’s commitment to providing travelers with distinct experiences worldwide. The following properties will debut before the year’s end, solidifying the achievement of 150 Curio Collection by Hilton Hotels: Making its grand entrance as East Africa’s inaugural Curio Collection by Hilton hotel in late November, Kwetu Nairobi, Curio Collection by Hilton in Kenya is a 102-room hotel overlooking the landscape of Karura Forest. On the Southern coastline of Phu Quoc Island, the first Curio Collection by Hilton in Vietnam will open in December. La Festa Phu Quoc, Curio Collection by Hilton accommodates 197 distinctive rooms. Monaco will roll out the red carpet for its first Hilton with the opening of the 181-room Columbus Hotel Monte-Carlo, Curio Collection by Hilton hotel. Next Hotel Melbourne, Curio Collection by Hilton becomes the first Curio Collection hotel in Melbourne, Australia and features 255 guestrooms. In Mendoza, Argentina, Hualta Hotel Mendoza, Curio Collection by Hiltonhotel is the city’s first winery hotel. The seven-story property features 67 guestrooms. The Rif at Mangrove Beach Corendon Curacao All-Inclusive, Curio by Hilton hotel debuts in Curacao in December. Globally, the brand is anticipated to open more than 20 new properties in 2024, including debuts in Croatia, the Dominican Republic, and China, as well as six new properties in the Middle East and Africa.
Sun Hill Properties Inc., the operator of the Hilton Los Angeles/Universal City, announced plans to build a 395-key hotel next to the Hilton, with the 2028 Olympics in mind. The 18-story hotel will serve as an addition to the 24-story Hilton Los Angeles/Universal City hotel. The new hotel addition will feature a rooftop restaurant and luxury spa along with a gym, meeting rooms, and other amenities. The project is expected to be considered by the Los Angeles Planning Commission and Los Angeles City Council in 2024. Construction is expected to begin next year and be completed by 2025.
Hilton Hotels and Resorts is proposing a new location in Brookville, Ohio. The site plan outlines construction of a three-story Hilton Hotel with 121 rooms and 135 parking spaces.
The Jay, an Autograph Collection Hotel is now open in San Francisco’s Embarcadero neighborhood. Following a multi-million dollar renovation, the 360-room hotel boasts a new outdoor rooftop terrace and a new dining outlet, The Third Floor, from The Omakase Restaurant Group. The Jay also features 13,000 square feet of meeting space across 16 distinct meeting areas on two floors.
AC Hotel by Marriott Honolulu is set to open in Hawaii on December 12, 2023. AC Hotel Honolulu is a 112-room boutique hotel featuring a robust food and beverage program with a hidden speakeasy and signature elements of the AC Hotel brand including the AC Lobby, AC Library, AC Kitchen, and AC Lounge. The hotel also features 2,500 square feet of indoor and outdoor meeting and event venues.
The Peoria City Council unanimously approved a redevelopment deal between the new owners of the Marriott Pere Marquette and the Illinois city. The hotel’s new owners, Shreem Capital, get tax rebates on hotel taxes, sales taxes, restaurant taxes, and business development district taxes in exchange for buying the distressed hotel and agreeing not to protest its property taxes. Shreem Capital purchased the Pere Marquette for $20 million.
More than a year after Hurricane Ian wreaked destruction on Ft. Myers and Sanibel Island, Florida, the Marriott Sanibel Harbour Resort & Spa announced the opening of the newly transformed Spa at Sanibel Harbour. The 40,000 square foot, full-service spa, salon, and fitness complex features 28 treatment rooms, co-ed spa experiences, a private bridal suite, eight pickleball courts, 3 tennis courts, a basketball court, indoor co-ed pool, New Spa Bistro, and more. Owned and managed by Columbia Sussex, the resort is putting the finishing touches on its renovation just in time for the winter high season. All 278 guestrooms and 69 suites have been renovated along with all six restaurants. Event space renovations at Marriott Sanibel Harbour Resort & Spa are also complete. More than 45,000 square feet of indoor and outdoor meeting space including 13 event rooms and 24 breakout rooms are offered with ballrooms, intimate event venues, and more.
PM Hotel Group has been chosen to take over management of the Holiday Inn Dallas Market Center. Following the completion of their upcoming renovation and conversion to a Holiday Inn Express, the hotel will offer 210 rooms and more than 6,000 square feet of meeting space.
Valor Hospitality Partners announced the opening of the Holiday Inn Express Cape Canaveral, its second property in Florida. The newly opened property offers 150 rooms and 36 suites, an outdoor pool, private pool cabanas, business space, and an extensive fitness center.
Construction is underway on a 100-room Hyatt Place Hotel in Casper, Wyoming. Depending on weather conditions, JJM Group Hotels hopes the four-story hotel could open in 18-20 months.
A downtown Milwaukee, Wisconsin hotel that opened just five months before the COVID-19 pandemic is in foreclosure and will be sold at a sheriff’s auction. The four-story, 132-room Cambria Hotel was developed by Murphy Development Group LLC and is the only Cambria in the Milwaukee area. A foreclosure suit was filed in July by Access Point Financial LLC. The defendant is Integrated Plankinton Milwaukee LLC, which shares an address with Murphy Development. A $17.5 foreclosure judgment was entered in November by Milwaukee County Circuit Judge Thomas McAdams. The downtown Cambria has continued to operate under a receivership. The sheriff’s sale is scheduled for December 18.
The Kitano Hotel New York is set to make a fresh start Friday, with its operations to be entrusted to the Seibu Holdings Inc. group. The long-established Japanese-affiliated hotel in Manhattan will be renamed The Prince Kitano New York. With 18 stories above ground and two below, the hotel has 150 guestrooms.
A new spa is opening soon in the Galt House Hotel in Louisville, Kentucky. Pelo West, will be opening on December 1. The hotel spa will be the third location from owner Kaitlyn Hubert. The luxury spa offers four treatment rooms, three hair stations, manicure and pedicure areas, and saunas in the women’s and men’s changing areas. The 17th floor space was previously occupied by a different spa. Pelo West invested about $100,000 in the renovation and worked with the Galt House and parent company AJS Hotel to complete the work.
A long-time motel in Sault Ste. Marie, Ontario is now operating as a Motel 6. The 73-room site had been operating as a Howard Johnson’s for 20 years. According to Realstar Hospitality, the hotel owners took the opportunity to reposition their existing asset and join Motel 6. Realstar Hospitality is the master franchisor of the Motel 6 and Studio 6 brands in Canada. Each Motel 6 is individually owned and operated. Renovations to all rooms at the Saultlocation included flat-screen televisions and micro-fridges.
The Kessler Collection welcomes Peter Wu to the new role of President of Hospitality Operations. Having an innate understanding of luxury hospitality, Wu steps into a new role to lead the company’s hotel management and operations division, overseeing the corporate commercial, marketing, human capital, and information technology functions.
Jonas Hospitality announced the promotion of Jake Lewis to President of Property Systems, to further the technical innovation and collaboration happening across the portfolio of Jonas Hospitality companies. As President of Property Systems, in addition to Jonas Chorum, Jake will now oversee SpaSoft, a leading provider of spa management software; and Springer-Miller Systems, a leader in luxury hospitality solutions.
NexPoint Hospitality Trust announced that Frazier & Deeter, LLC resigned as auditor of NHT, effective November 27, 2023. F&D’s resignation resulted from a position taken by CPA Ontario that, under certain circumstances, foreign accounting firms and their partners may be considered to be engaging in public accounting work in Ontario as a result of performing audits of Ontario reporting issuers thereby triggering a requirement to be licensed by CPA Ontario. The REIT has commenced a process to engage a successor auditor for the 2023 fiscal year.
Margaritaville and Karisma Hotels & Resorts announced plans to debut the newest all-inclusive resort under the Island Reserve Inclusive Collection: Margaritaville Island Reserve Resort Roatan, Bay Islands, Honduras. Margaritaville and Karisma Hotels & Resorts will partner with development group Island Shipping, S. de R.L. to bring this all-inclusive resort to life. The new build, slated for completion in 2025, will include 164 guestrooms, live outdoor music venues, a spa, and branded dining concepts.
Elewana Collection launched a new Explorer brand with the first lodge to open in the Serengeti in March 2024. The new Explorer by Elewana collection of upscale safari lodges will cater to a wider audience through a more moderate price point as well as an increased range of activities on property. The first lodge, Serengeti Explorer, is scheduled to open in March 2024, Ngorongoro Explorer will follow later in that year, and Tarangire Explorer is scheduled to open in 2025. The Serengeti property will offer 68 explorer rooms and six suites, a wide selection of dining options, a children’s bushcraft center, an outdoor cinema, and a stargazing deck. Serengeti Explorer is built on the site of the previous Serengeti Sopa Lodge.
Arrow Global has completed the purchase of the Palmares Ocean Living and Golf resort in Portugal from King Street Capital Management and Kronos Homes for an undisclosed amount. The sale follows six years of extensive investment and development of the resort by King Street and Kronos Homes since acquiring it through a joint venture in 2017. Located in Portugal’s Lago municipality, the 200 hectares of Palmares Ocean Living & Golf has a 27-hole golf course, four kilometers of beach access, a boutique hotel, and a range of residences.