Hilton Lays out Plans to Expand in Caribbean and Latin America

The DJIA rose 261 points, but Nasdaq dropped 193, the S&P 500 fell 17 points, and the 10-year treasury yield was down.01 to 4.25%. Lodging stocks were mixed again. The one mover of note was AHT, up 9% on the day.  

Providence Development LLC has been granted approval to proceed with plans for the AC Coeur d’Alene, a new six-story lodging facility in Coeur d’Alene, Idaho. Construction is expected to start by November, with the opening slated for late spring or early summer 2027. The 131-room hotel will include a fitness center, an indoor-outdoor bar and lounge area on the top floor, and a large lobby with a bar and meeting spaces on the street level. Underground parking will include 130 stalls throughout 2 ½ levels underneath the structure. CDA Hotel LLC, an entity of Providence Development, purchased the property in September.   

A Miami board approved three proposed high-rises to be built where the James L. Knight Center now stands. Called Miami Riverbridge, the project will be built by Hyatt Hotels Corp. and Gencom. The project is slated to break ground in 2026 with an opening in 2030. Miami Riverbridge will consist of 1,342 multifamily apartment units, a new 615-room Hyatt Regency, 264 serviced apartments managed by Hyatt, 100,000 square feet of commercial space and 1,180 parking spaces. The apartments and hotel rooms will be housed in three towers linked by a sky bridge with an upscale restaurant and lounge.   

TPG Hotels & Resorts announced the completion of a transformative guestroom refresh project at the Newport Beach Hotel & Suites in Newport, Rhode Island. The refresh is the first phase of a multi-phase renovation project planned for the property. The interior design makeover encompassed re-imagining the guestroom experience, from new bathrooms to select furnishings to carpets and wall coverings. The property’s onsite restaurant has returned with a revitalized, curated menu. Other property amenities include a heated indoor pool, spa services, bicycle rentals, and Rhode Island’s only hotel with a hot tub on its rooftop deck. The property is part of TPG Hotels & Resorts’ Intera Collection.  

The owner of Parx Casino has put its plans to build a 13-story hotel on hold and will instead acquire a six-story hotel adjacent to the Bucks County gaming destination. Greenwood Racing Inc. is purchasing the Inn at Fox Chase, located in Bensalem, Pennsylvania, next to Parx Casino’s parking lot. Greenwood is buying the hotel from Innovative Hospitality Management. In addition to its 167 rooms, the Inn at Fox Chase has an outdoor pool, fitness center, more than 2,000 square feet of meeting space and an onsite restaurant. Following the acquisition of the Inn at Fox Chase, Greenwood plans to conduct a multimillion-dollar renovation of the hotel over the next six to 12 months. The project will include updates to the guestrooms and some public spaces, such as the pool and the restaurant’s dining room and bar. Greenwood will also convert the entire top floor of the property into 16 new suites to provide a higher-end option for guests.   

Developer Nathan Beal purchased the shuttered La Vista Motel in Denver, Colorado, with the idea of reviving the business. He plans to restore the motel and add a cocktail bar and coffee shop. The goal is to finish La Vista’s transformation by the spring of 2025 and open it by June. The two-story motel will have 22 rooms, two of which will be suites.  

A recent ribbon-cutting ceremony, was hosted by Nilesh Patel, celebrating the completion of a nearly seven-month renovation of the former Sleep Inn in Salisbury, Maryland. The 75-room hotel has new pain, flooring, furniture and mattresses. Hotel amenities include an outdoor pool and a fitness center.   

The Drury Plaza Hotel Savannah Pooler, the first Drury Hotel in the Savannah area and the fifth Drury Hotel in Georgia is now open with 186 guestrooms and suites. The hotel offers over 1,200 square feet of flexible meeting and pre-function spaces, an indoor pool and spa, parking and a business center and fitness center.

Preferred Hotels & Resorts announced its prestigious Legend Collection is celebrating over 100 member properties. The latest properties to debut in the Legend portfolio are The Hotel Maria in Helsinki, Finland; Grand Velas Boutique Los Cabos in Los Cabos, Mexico; and The Global Ambassador in Phoenix, Arizona, all of which opened in December 2023. The Newman, in London, UK, is slated to open in spring 2025.   

The leading union for U.S. hotel workers has elected its first woman president ever, a big moment for a labor group that represents thousands of housekeepers across the country. Gwen Mills’ rise to the top of Unite Here caps a long career inside the union. Mills has been running the union on an interim basis since her longtime predecessor, D. Taylor, stepped down at the end of March. The union has waged dozens of rolling strikes at hotels in Southern California since last year, pressuring hotel operators into offering bigger raises and stronger safety protections. Under the new contracts, workers will see their wages climb by $10 per hour over the next four years. Mills said the battle would continue in cities around the country as contracts with Marriott, Hyatt and Hilton expire elsewhere.   

Hilton announced plans to exceed 300 open hotels in the Caribbean and Latin America region within the coming three years. In 2023, Hilton opened around 20 new hotels and concluded the year with an additional 4,000 rooms in the market. The company has more than 100 hotels in its pipeline, and is set for a foray into seven new countries and territories. Bermuda and Paraguay are on the list for 2024. Hilton is also preparing to introduce two new brands to the region: Spark by Hilton and Home2 Suites by Hilton. In Argentina, Hilton’s presence is expected to double from its current 10 hotels. Meanwhile, Peru will see its Hilton portfolio grow from 11 to 18, with seven additional properties in the pipeline. Colombia currently has 23 Hilton hotels, such as Hilton Bogota Corferias, with more projects underway, including a Tru by Hilton in Cali slated to open later this year. Costa Rica has ten Hilton hotels, including the recently opened Hilton Garden Inn San Jose Airport and the newly signed Heredia Stadium Hotel, Tapestry Collection by Hilton. Waldorf Astoria Costa Rica Punta Cacique is anticipated to open late this year. Mexico’s Hilton portfolio, which includes more than 90 open hotels, is set to expand further with more than 30 hotels in its pipeline. The Dominican Republic is expected to see its Hilton presence nearly triple, with more than ten developments in progress. This includes the Zemi Miches All-Inclusive Resort, Curio Collection by Hilton, which is expected to open in late 2024. In Brazil, Hilton is planning to introduce two new brands, Homewood Suites by Hilton and Motto by Hilton, over the next three years. Additionally, the company will launch its first branded residences in the country with the opening of Qoya Residences Curitiba, Curio Collection by Hilton.   

Europe Highlights

The Cae More Hotel in Llandudno, UK, has reopened following an extensive refurbishment. The 22-bedroom hotel unveiled a new, modern look including the revamp of its restaurant and bar. Cae More Hotel boasts spacious car parking facilities on the promenade, which is something that’s coveted by many of its guests. There is also air conditioning throughout the property.   

The Verdelago group will invest 52.5 million euros in a luxury hotel located between Praia Verde and Altura, Portugal, in the Algarve, which will be managed by the Marriott brand. This is yet another investment by the company in addition to the 270 million euro Verdelago Resort project. The foundation stone will be laid today, and the hotel, whose construction will be completed in 2027, will have 192 rooms, including six suites in the forest. It should be remembered that the Verdelago Resort consists of 340 residential units, including apartments, villas, and townhouses, which were built in different phases, with 92 units currently in tourist operation.