Dolly Parton Confirms Plans for Nashville Hotel

The DJIA rose 69 points while Nasdaq was up 59, the S&P 500 rose 14 points and the 10-year treasury yield was up .04 to 4.47%. Treasury yields jumping again are probably pushing the lodging REITs down which is why they led the lodging stocks lower. New 52 week lows were set by CLDT, AHT, SVC and APLE today.

Flatwater Cos. is planning to build a 113-guestroom SpringHill Suites by Marriott at its massive lake-anchored project in western Chesterfield, Virginia. The five-story hotel will be operated by Aimbridge Hospitality. The project will begin construction in early 2025.

Hampton Inn & Suites, a five-story, 100-guestroom hotel, opened this weekend in Indianapolis, Indiana. The hotel was developed by and is owned and operated by Sprague Hotel Developers.

The Homewood Suites Washington D.C. unveiled a fresh new look, including a re-imagined lobby, 175 refreshed guest suites and 2,300 square feet of modernized meeting space. The hotel, managed by Crestline Hotels & Resorts, also features a fitness center, a Suite Shop, onsite laundry facilities and valet parking.

The all-new Four Seasons Resort and Residences Cabo San Lucas at Cabo Del Sol is now open. The resort boasts 96 guestrooms and suites; 61 residences, villas and estates; eight restaurants and bars, three pools, an expansive spa; private art gallery; retail shop; kids club; an ocean-view fitness center; and a unique selection of indoor and outdoor event spaces.

IHG Hotels & Resorts celebrated the opening of a new-build Holiday Inn & Suites hotel in suburban Los Angeles. Featuring 136 guestrooms, Holiday Inn & Suites Monterey Park - Los Angeles offers an outdoor pool, bar, onsite restaurant, 2,900 square feet of meeting space and a business center. The hotel is owned and operated by Pacific Plaza Monterey Park, LLC.

JAI Bhola LLC is planning a dual-branded La Quinta & Hawthorn Suites in Brentwood, California. The four-story hotel would have 151 guestrooms, an outdoor pool and spa area, a covered barbeque patio and 121 parking spaces.

Choice Hotels International, Inc. continues to expand its Everhome Suites brand with recent groundbreakings in New Hampshire, New Jersey, and New York, developed with HighSide Companies. The properties include the 106-room Everhome Suites Portsmouth located in Portsmouth, New Hampshire. The hotel is expected to open in the summer of 2025. Everhome Suites Somerset will be a 114-room hotel in Somerset, New Jersey, expected to open in the fall of 2025. Everhome Suites Rochester is located in Rochester, New York. The 114-room hotel is expected to open in the spring of 2025. Convenient amenities at the properties include the HomeBase Market, a multipurpose lobby, a communal outdoor amenity area with barbeque grills, firepits, and green spaces, pools at select locations, a fitness center and guest laundry facilities.

Innisfree Hotels announced the opening of the new Surf & Sand Fernandina Beach at Amelia Island in Fernandina Beach, Florida. The former Comfort Suites Fernandina Beach site, which has undergone a significant renovation, features 50 guestrooms and is part of Choice Hotels’ Ascend Hotel Collection.

Dolly Parton has confirmed plans for a downtown Nashville hotel. Last year, the Dollywood Co. confirmed the purchase, but this is the first time Parton has formally announced her plans for a hotel in Nashville, Tennessee and a museum, too. The hotel will be named Songteller Hotel, and the museum will be filled with Parton’s fashion pieces and artifacts from her career.

Garfield Public-Private LLC will finalize designs and permits for the Miyako Hotel. The project, situated next to a lake in Plano, represents the brand’s first expansion to Texas. The 217-key, 13-story hotel will feature a thoughtful blend of Japanese customs and Southern hospitality and be located on the south side of Campus at Legacy, a $1 billion project hoping to transform into a lively mixed-use space featuring offices and stores. Amenities at the Miyako include meeting and event spaces, a pool deck with individual sauna rooms and a rooftop bar, a high-class bar, an onsite Japanese restaurant, and a Japanese bakery. Work is slated to begin on the hotel project as early as the end of 2024 or early 2025. Construction is expected to be complete in two years, which would put the project’s delivery date sometime in mid-2027.

With no deal yet on a sale, the developer of the former Radisson Hotel on Grand Island, New York, says he’ll move forward with redevelopment plans. This follows a decision to reduce the price in May for the 263-room hotel to $8.9 million from the original price tag of $10.2 million when the hotel was first listed for sale in January. Redevelopment plans have changed several times for the Grand Island site, starting with a $25 million plan to convert the property into 135 market-rate apartments and then a plan to retain 87 hotel rooms as short-term rentals.

AIC Hotel Group announced the opening of AVA Resort Cancun in Mexico. The resort boasts 1,500 ocean-facing rooms, 90,000 square feet of flexible event space, 27 restaurants and bars, a spa & wellness center, a fitness center, pickleball courts, a boxing ring, a waterpark, AVA Kids Club, The Lounge for teens, a 120,000 square foot saltwater bay, six pools, white sand beachfront and plenty of indoor entertainment.

Red Jacket Resorts is ushering in Summer 2024 along the Atlantic Ocean with a new look and feel thanks to a comprehensive $40 million renovation and an array of exciting activities and programming. Cape Cod, Massachusetts’ best new destination encompasses Red Jacket Beach Resort, Riviera Beach Resort, and Blue Water Resort, three of the collection’s five properties all located within a 1-mile stretch, debuting a collective of 397 newly designed guestrooms, cottages and family suites; new lobby spaces; meeting rooms; updated food and beverage outlets as well as refreshed pool experiences and beachfront amenities. Completing the first phase of the collection-wide renovation, Red Jacket Resorts will continue to innovate their remaining spaces with amenities and spaces designed to keep the collection as a destination with something for everyone.

Kemmons Wilson Hospitality announced the completion of an extensive revitalization of the Mining Exchange Hotel located in downtown Colorado Springs, Colorado. The re-imagined property features 128 newly designed guestrooms, two new food and beverage concepts, nearly 11,000 versatile indoor-outdoor meeting and event spaces, and a forthcoming refresh of the existing full-service spa. Practice Hospitality is the hotel’s management company.

LuxUrban Hotels is being sued by a subsidiary of Apple Hospitality REIT for allegedly squatting at Hotel 57 in Midtown East, owing $1.8 million in rent, and for allegedly failing to pay unionized employees. LuxUrban began subletting the Manhattan property from Apple Eight in May of last year. Apple Eight sued recently, alleging LuxUrban defaulted on its rent obligations soon after the 15-year lease agreement went into effect. APLE has to get in line as Lux is facing quite a few lawsuits. Meanwhile, the company formed a special committee to explore strategic alternatives to increase shareholder value. The stock has lost over -94% of its value in the past year.

High Country Suites, in Pinedale, Wyoming, was quietly sold to a new owner last month, billionaire Joe Ricketts. The Ameritrade founder and Chicago Cubs owner bought the hotel on May 13 from Vista Grande. Plans for the hotel are unclear at this point.

The Marker Union Square San Francisco has joined Preferred Hotels & Resorts as the newest experience available within the Preferred Hotel & Resorts Lifestyle Collection. With over 200 rooms, the Beaux Arts icon features 12,000 square feet of flexible meetings and events space, a signature restaurant, a fitness center, a business center and valet parking.

StayAPT Suites announced the grand opening of its newest property in Port Arthur, marking its sixth location in Texas. The 88-room property offers an outdoor courtyard with a built-in grill station, onsite guest laundry facilities, and a fitness center.

JLL Capital Markets arranged a $6 million refinancing for The Marketplace, a mixed-use property offering essential retail, office, storage and 12-key Marketplace Suites boutique hotel, in St. John, U.S. Virgin Islands. JLL worked on behalf of the borrower, Mugar Enterprises, to secure the five-year, fixed-rate loan through Bank of New Hampshire.

Personnel Moves

Ashford Hospitality Trust, Inc. announced that Dave Johnson joined the Board of Directors as a new independent director as of the Company’s recently held annual shareholder meeting. Mr. Johnson was also appointed to serve on the Board’s Audit Committee as well as the Compensation Committee. Mr. Johnson is the co-founder and managing director of Horizon Capital Partners LLC.

Red Roof promoted Lisa Jordan to Vice President of Marketing. Jordan joined Red Roof in 2021 to lead an integrated digital marketing team and is now responsible for developing and executing the company’s marketing and digital strategies to drive business growth and enhance the iconic brand.

LuxUrban Hotels Inc. announced the appointment of Michael James as Chief Financial Officer. Mr. James succeeds Shanoop Kothari, the Company’s current Chief Executive Officer and former Acting Chief Financial Officer. Prior to joining the Company in February 2024, Mr. James was a co-founder and director of and served as Chief Financial Officer for Edible Garden AG.

Hilton Grand Vacations Inc. announced the appointment of Gail Mandel to its board of directors, expanding the Company’s board from nine to 10 members. Mandel serves as Managing Director of Focused Point Ventures.