The DJIA rose 15 points while Nasdaq was up a point and the S&P 500 fell 3 points. The 10 year treasury yield was down .05 to 3.98%. Lodging stocks were modestly lower. AHT traded down to another new low, declining another -5% on the day.
The Aloft New Orleans Downtown hotel has completed the interior renovation. The work included a redesign of the lobby and updates to the guestrooms, guest corridors, and fitness center. The new open concept lobby was overhauled with the relocation of the front desk area, a new seating area, and wall coverings. The hotel offers 188 refreshed guestrooms. The 24-hour Re:charge Fitness Center also received an upgrade.
Turnberry is bringing a St. Regis Hotel to downtown Nashville. The firm partnered with the Marriott luxury hotel brand to develop a 39-story hotel and condominium tower. The St. Regis Nashville and The Residences at The St. Regis will offer 177 hotel rooms and 111 condominium units. Plans for the 740,000 square foot building also include a fine dining restaurant, lobby, bar, three-meal restaurant, full-service spa, and two amenity decks. The project is expected to break ground in 2025. Turnberry is the developer and owner of the JW Marriott Nashville, which opened in 2018. The St. Regis will be developed on land neighboring the JW with Turnberry paying $28.36 million for the two-parcel SoBro site. The JW Marriott occupies 75% of the site.
AC Hotels Honolulu has opened. Strategically anchored in Oahu’s leading business district, the hotel is owned by Continental Assets Management. The five-story hotel offers 112 guestrooms. There is a fitness center, AC Lobby, AC Library, and AC Lounge and over 2,500 square feet of dedicated indoor and outdoor executive space.
An OYO hotel in downtown St. Louis wants to grow up to be a Sheraton but the developers and local union cannot come to a neutrality agreement. The approval of the development is contingent on a bill granting a tax abatement but the deadline for it to be passed was Tuesday. Investors have said they will back out of the deal if not passed by the deadline. It will be on next week’s agenda.
Developers are proposing a new 112-room TownePlace Suites by Marriott Hotel in Clermont, FL. The project proposal was submitted by McCoy & Associates Engineers and Planners and shows a four-story hotel with pool deck and outdoor tiki bar with a separate 294 seat restaurant and a 202 space parking lot. George Tsunis Real Estate is the project’s developer.
The Hotel Group, an affiliate of Hotel Equities, announced the conversion of the former Holiday Inn Express in Pullman, Washington to the Hampton Inn by Hilton brand.
Raines announced the launch of Tru by Hilton in North Augusta, SC along with the conversion of Waynesville Inn & Golf Club to Tapestry Collection by Hilton. The 98-room Tru by Hilton is an integral part of the Dynamic Walnut Village mixed-use development. The hotel offers a fitness center, pool table, business center, and more. Construction was completed in just 14 months.
Home2 Suites by Hilton announced its newest property, Home2 Suites by Hilton Phoenix Downtown. The hotel is owned by Anish Patel’s Anish Hotels Group, and was developed in the 95-year-old Fuller Paint Company Building which is on the Phoenix Historic Property Register. The building now hosts the hotel’s reception, lobby, Fuller’s Bar and meeting space. The new tower offers 148 guest rooms. The hotel offers 1,200 square feet of meeting space.
The Legacy Hotel is opening near Lambeau Field in Green Bay, Wisconsin. The hotel will be part of the Trademark Collection by Wyndham and will have 101 suites. They will range from the 410 square foot studio suites to 975 square foot penthouse suites. The hotel also features a rooftop bar, gym, and a spa.
CoralTree Hospitality announced the company will manage the Stelle Lodge, a new four-season, boutique mountain resort in Park City, Utah. The hotel is located in the heart of the new SkyRidge Mountain Community, located lakeside on the Jordanelle Reservoir, across from the Deer Valley Resort. There are 65 residential resort rentals at theStelle with mountain or lake views. The hotel will feature three distinctive dining options, including a rooftop bar. The hotel is expected to open in late 2026. Other amenities that will be offered include a 5,000 square foot spa, meeting space, and guests will have access to the community’s three-hole mountain golf course.
The owners of luxury Bal Harbour Shops in Bal Harbour, FL have proposed a mixed-use project at the site. Owners Whitman Family Development are proposing a hotel, multi-family housing with some workforce units, an addition to the luxury mall on 18 acres. The hotel would have 70 rooms, there would be 600 residential units and 45,700 square feet of additional retail space.
Hotel Bardo in Savannah, GA will open in February. The adaptive reuse project transformed a 19th-century Southern Gothic structure sitting at the heart of Savannah’s Forsyth Park into Hotel Bardo Savannah. The new urban resort concept from LEFT LANE transformed the historic property. Hotel Bardo Savannah is a two-acre resort housing 149 guest rooms, inclusive of 50 suites along with coastal Italian restaurant Saint Bibiana, a holistic fitness and wellness spa, kids program, and a member and social club called Club Bardo. LEFT LANE is expecting to expand the Bardo brand over the next five years to high-growth secondary markets including Pittsburgh, PA and Providence, RI, among others.
Denver’s publicly owned but privately leased Union Station is having more changes planned for it. The retail and community space will have a new lobby for the Crawford Hotel with live music and cocktails, updates to the hotel’s 112 rooms, fresh furniture, lighting, an update to retail in the Great Hall, and a renovation of the Cooper Lounge. Union Station and the Crawford Hotel will remain open through construction.
Developers in Louisville, KY are proposing a plan to turn the vacant Highland United Methodist Church in Cherokee Triangle into a 26-room boutique hotel. The property the church sits on would first need a zoning change.
The Plasencia Group said they represented the seller in the sale of the TownePlace Suites Tampa Westshore/Airport. The 121-key hotel is the only Marriott-branded property in the Avion Park mixed-use development at the entrance to the Westshore Business District from Tampa International Airport.
Cronheim Hotel Capital said they secured $64,500,000 to refinance the existing debt on the LaGuardia Plaza Hotel. The loan originated with a national debt fund platform and provides capital to realize the Sponsor’s business plan of converting the property to a DoubleTree by Hilton. The hotel is one of the closest hotels to LaGuardia Airport’s main gates and is owned by an affiliate of Synergy Hospitality Management.
Commonwealth Hotels announced it has appointed Jennifer Porter as President. She most recently served as the company’s Chief Operating Officer.
Omni Hotels & Resorts announced the appointment of Jeff Doane as its new Chief Commercial Officer. Doane was most recently Chief Commercial Officer at Accor North America.
McNeill Investment Group announced the retirement of its Chief Legal Officer and Managing Director Sussan Harshbarger, effective December 31, 2023. Harshbarger remains an active investor in MIG.