Kimpton Unveils Plans for Hawaii 

The DJIA fell 35 points but Nasdaq was up 265, the S&P 500 rose 46 points and the 10 year treasury yield fell .11 to 4.30%. Lodging stocks were higher. SHCO was the big gainer, up 5% but AHT was down -5% to a new low.  

Baird cut their target price on RLJ Lodging Trust to $12 from $13. They maintained their Outperform rating.  

STR reported U.S. lodging data for the week ended 6/8. U.S. hotel RevPAR was up 1.7% for the week, year over year. ADR was up 1.8%. Group RevPAR rose 4.4% for the week.  

RAM Hotels announced the opening of the new 104-room TownePlace Suites by Marriott in Oxford, Alabama.   

According to paperwork recently filed with the Texas Department of Licensing and Regulation, The Ophelia, a Tapestry Hotel by Hilton, is estimating a fall construction date on its $18.5 million project. The scope of the work on the six-story hotel includes building 127 guestrooms, a conference center, a signature restaurant, bar, café, outdoor pool, and a parking lot. Dirt is anticipated to get turned on October 1, with an expected one-year build-out to be completed around September 30, 2025. The Ophelia will be located in Marble Falls, Texas.   

Resolute Road Hospitality announced the addition of the Hilton Garden Inn Missoula to its managed portfolio. The addition of this hotel in Missoula, Montana expands the company’s footprint to seven states across the U.S. The six-story, 146-key Hilton Garden Inn Missoula offers a full-service restaurant, fitness center, indoor pool, onsite casino and bar and 22,000 square feet of versatile meeting space.   

Keystone Hotel Group is planning to build a 117-guestroom Tru by Hilton hotel above a two-story parking garage in Cincinnati, Ohio.   

Kimpton Hotels & Restaurants is partnering with Coco Palms Resort, establishing the first location in Hawaii for IHG Hotels & Resorts’ growing luxury and lifestyle portfolio, Coco Palms, A Kimpton Resort. Coco Palms is owned by Reef Capital Partners and will be operated by Highgate. Expected to open in Kauai in 2026, the restored landmark will be comprised of 350 accommodations spread across three low-rise hotel structures as well as cottages. The resort offers a 15-acre coconut grove, an onsite spa, three outdoor pools and unique restaurant and bar concepts.   

Rosewood Hotel Georgia has reopened following an extensive five-month renovation, unveiling re-imagined culinary concepts and 156 luxury rooms and suites. The reopening also marks the debut of an entirely new dining destination, The Georgia Bar. The historic Vancouver hotel was first opened in 1927.   

Choice Hotels International, Inc. announced the opening of a new Everhome Suites in Lexington, Kentucky. Everhome Suites Lexington North is a four-story, 114-room hotel developed by New Circle Investments and managed by H&W Hotels. The Everhome Suites brand offers amenities such as multipurpose lobbies, communal outdoor amenity areas with BBQ grills, firepits, green spaces, pools at select locations, Homebase Market, a fitness center and guest laundry facilities. 

Premier Equities sold the 64-room Flatiron Hotel at 1149 Broadway, in New York, to Azora Exan for $47.9 million. The renovated hotel leases its second to ninth floors to Sonder. Newmark handled the transaction.   

LivAway Suites recently broke ground in Draper, Utah, about 20 minutes south of Salt Lake City International Airport.   

The Manchester Inn & Suites hotel will soon become a Best Western, as interior and exterior renovations to the building are under way. Dev Hospitality LLC, applied to the town for a handful of permits to renovate and modify the structure, including one detailing new Best Western signs on the front of the building and on a pylon within the property.   

A new luxury hotel appears just days away from getting the green light in Niagara-on-the-Lake, Ontario, Canada. The proposed Parliament Oak Hotel, a new luxury accommodation, has been recommended for approval by Niagara-on-the-Lakeplanning staff and is expected to get the official green light at an upcoming June 25 council meeting. Solmar Development is leading the project under its Two Sisters Resorts brand. The hotel component plans to include 129 guestrooms, a restaurant and patio, spa and personal services, banquet/conference facilities and retail uses. 

The newly-renamed Hotel Gettysburg received a complete overhaul. The historic hotel in Adams County, Pennsylvania unveiled a new look across all 119 guestrooms and public spaces.   

The historic Ward Hotel building, in Fort Smith, Arkansas, is currently up for auction with the current bid being set at $200 thousand. According to a listing on Ten-X the auction on the 11-story former Ward Hotel is set to run through June 11.

Sonder Holdings said they entered into an amendment to its existing note and warrant purchase agreement with a syndicate of investors that provides for another $10 million in commitments. SOND said that, as part of their portfolio optimization program, they have already exited 60 buildings with 2,300 units. The total finalized exit agreements are 80 buildings with 3,200 units.  

Personnel Moves

Hospitality America promoted Justin Deyo to Corporate Director of Operations. Deyo joined Hospitality America in 2013. He recently served as area General Manager in Columbia, South Carolina, overseeing two key assets.  

LuxUrban Hotels Inc. announced that its Board of Directors has appointed Robert Arigo as its Chief Executive Officer. Mr. Arigo succeeds Shanoop Kothari as CEO. Mr. Arigo joined LuxUrban in March 2024 as Chief Operating Officer from M& R Hotel Management. His responsibilities as COO will be absorbed throughout the organization, and the company will assess filling the role at a later time. Kotharilasted only three months as CEO of the troubled company. 

Europe Highlights

Marriott International, Inc. announced its plans to expand its portfolio in France with the expected addition of 10 properties with over 1,000 rooms by the end of 2025. Marriott continues to see strong momentum for its select service brands in the market with Moxy Hotels. Plans for the brand include the openings of Moxy Annecy and Moxy Paris Clamart, expected in 2024, followed by the addition of Moxy Nice, which is anticipated by the end of 2025. Other expected additions by the end of 2025 include Residence Inn by Marriott Lille, Courtyard by Marriott Lyon East and Aloft Dijon, an adaptive reuse project of a former post office in the city center. Marriott is also seeing opportunities for conversion and adaptive reuse projects in the luxury space. The company plans to strengthen its luxury portfolio in France with the highly anticipated opening of Hotel du Couvent, a Luxury Collection Hotel in Nice, an adaptive reuse project of a convent originally built in 1604. The property has been restored and will add 88 luxury guestrooms and suites to the market, with its anticipated opening in the summer of 2024. In the premium segment, Marriott expects to add a Tribute Portfolio Hotel in Mougins.   

IHG Hotels & Resorts announced the opening of the first Holiday Inn - the niu property in Germany, Holiday Inn - the niu Cure, Erlangen, marking the debut of the collaboration between Holiday Inn and the niu. The 117-room hotel features an open lobby concept, an onsite bar lounge area and a lobby shop. In the coming months, more Holiday Inn - the niu hotels are expected to open. This will include locations such as Nuremberg, Frankfort, Cologne, Dusseldorf, Berlin, Munich, Hamburg, and Potsdam, and outside of Germany, it will be available in locations including Amsterdam and Haarlem in the Netherlands, Manchester in the UK, and Vienna, Austria. More recently, IHG and NOVUM Hospitality signed their first additional pipeline hotel for Holiday Inn - the niu. This property is in addition to the initial 52 signed under this brand collaboration in April 2024.   

Hilton announced the debut of its Tapestry Collection in York, UK, with the opening of Elmbank York. The 62-room hotel, signed under a franchise agreement with Cairn Hotel Group, offers a restaurant and bar and convenient onsite parking.   

Fattal Hotel Group has agreed to acquire the entire 12-hotel portfolio of Zien Group from KSL Capital Partners and Garden Capital Group. The portfolio’s 12 hotels and 1,522 rooms are all located in The Netherlands, including five hotels in Amsterdam and properties in Dutch cities such as Rotterdam, The Hague, Eindhoven, Groningen, and Maastricht, and includes such hotels as The Manor Amsterdam, The Lancaster Hotel Amsterdam and the Eden Hotel Amsterdam. The deal is due to be completed in the third quarter of 2024. The newly acquired hotels will be merged into Fattal’s Leonardo Hotels’ brand portfolio, which, with the acquisition, will grow to 28 hotels in the Benelux countries.