IHG Announces Openings in Upstate New York and North Carolina

The DJIA rose 36 points, while the Nasdaq was up 54. The S&P 500 rose 5 points, and the 10-year treasury yield was down .03 to 4.29%. Lodging stocks were modestly higher. The big gainer was SOND, up 9%, while VCSA was down -5 %.

A highly anticipated hotel project in downtown Greensboro, North Carolina is still in the works, according to the development group. Elm Street Hotel LLC first announced plans to build a Westin Hotel in 2017. The latest plan for the Westin is to build a six-story hotel with 180 rooms, a restaurant, a rooftop bar and multiple meeting and event spaces. Developers had been waiting for the city to complete its $43 million February One parking deck, which opened earlier this month, to start the project. Elm Street Hotel LLC's website about the proposed hotel still indicates they plan to open in 2024, but that is not feasible since no building permits have been submitted.

Pivot, the lifestyle operating vertical of Davidson Hospitality Group, has been selected by Goldenrod Companies to manage The Scarlet, Lincoln, a Tribute Portfolio Hotel in Lincoln, Nebraska. The only hotel in partnership with the University of Nebraska - Lincoln and located on the Nebraska Innovation Campus, the property features 154 guestrooms and suites, a variety of restaurant and bar experiences, as well as approximately 1,200 square feet of meeting space.

IHG Hotels & Resorts announced the opening of a newly converted and rebranded voco hotel in Upstate New York. Located in the Hudson Valley, south of Albany, voco James Newbury Hudson Valley features three restaurants, 13,300 square feet of meeting space and a full-service spa. The hotel is owned by Empire Riverfront Ventures, LLC and managed by Prestige Hospitality Group.

IHG Hotels & Resorts also announced the opening of a new-build Holiday Inn Express & Suites hotel in Asheville, N.C. Featuring 109 rooms and more than 580 square feet of meeting space, Holiday Inn Express & Suites Ashville - Woodfin is owned by RKreative Hospitality, LLC and managed by Duke Ascend Hospitality.

Omni San Diego Hotel announced the completion of a top-to-bottom renovation. The hotel features a redesigned poolside experience, two new food and beverage concepts, 32,000 square feet of refreshed meeting and event spaces, a re-imagined lobby and 511 refreshed guestrooms.

Legendary Capital announced the rebranding of one of its key properties, the Delta Hotel in Grand Rapids, Michigan, to the Sonesta brand. The rebranding to Sonesta is part of Legendary Capital's broader strategy to enhance its portfolio and offer superior hospitality experiences.

Hilco Real Estate Sales announced July 9, 2024 as the qualifying bid deadline for the Chapter 11 bankruptcy sale of the Ontario Airport Hotel & Conference Center located in Ontario, California, following the hotel's owner, Morgan Group Holding Co., filing for Chapter 11 bankruptcy on the property earlier this year. In addition to 309 guestrooms, the hotel includes a restaurant, bar, coffee shop, outdoor pool and fitness room, plus 22,000 square feet of meeting and banquet space. The sale is subject to bankruptcy court approval.

Replay Destinations is planning a 10-acre mixed-use $500 million redevelopment of the former lumber mill site, in downtown Healdsburg, California that will include a 53-room Mill District Hotel. The hotel will feature a spa and wellness center and an outdoor pool with a spa deck. The project is expected to begin construction in the spring of 2025 and be completed in the spring of 2027.

This summer, TOURISTS, the beloved Berkshires hotel in North Adams, Massachusetts introduced TOURISTS Cabins. TOURISTS Cabins are impeccably designed mobile hotel rooms outfitted with King beds, Toto toilets, full-size showers, and eat-in kitchens, all custom-designed and built in the Blackinton Mill in North Adams.

Waterline, a 74-story tower in Austin, Texas, is about halfway through with construction. The building now stands at 35 floors and rising as it becomes the newest and tallest addition to the downtown Austin skyline. Developed by Lincoln Property Company and Kairoi Residential, Waterline will be a mixed-use building set to contain over 700,000 square feet of office space, 352 apartments, a five-star hotel with 252 keys, and 27,000 square feet of retail and restaurant space at ground level. The "supertall" tower is expected to be completed in late 2026.

TAFER Hotels & Resorts announced the opening of the adults-only Hotel Mousai Cancun along the white sand beaches of Costa Mujeres, marking TAFER's second Hotel Mousai location in Mexico. The hotel offers 88 oceanfront suites, multiple food and beverage options and two pools.

The Bays at Frisco, an 18-acre golf resort in Frisco, Texas, broke ground recently. Partnering with TaylorMade, The Bays at Frisco is a four-story, 100,000 square foot golf lab and suites equipped with real golf equipment and technology, a private membership club, restaurant and bar, dedicated space for corporate suites, events, and partnerships, and an onsite boutique hotel. Set to open in late 2025, The Bays will feature a boutique, 19-key hotel on the third and fourth floors with suites, each with its own private hitting bay and a rooftop pool with cabanas.

A boutique cannabis-friendly hotel near the Las Vegas Strip is up for sale. An online listing shows the Lexi Hotel is on the market, but no asking price is listed. The Lexi Hotel was purchased by Elevations Hotels and Resorts in 2022 for $11.9 million in a deal with The Siegel Group. Formerly the Artisan Hotel, the 64-room Lexi Hotel is Vegas' first cannabis-friendly hotel.

The Amara Bay, a development bringing a hotel, condos, retail and other amenities to Chula Vista, California broke ground on Wednesday. The 35-acre project will include 1,500 residential condos, retail, and 400,000 square feet of office space.

A plan to demolish Ann Arbor's Victory Inn and Suites to construct a new hotel on the site has been approved. Michigan's Ann Arbor Planning Commission agreed to allow a developer to raze the hotel to build a four-story hotel with 159 rooms. The plans also include an indoor pool, an outdoor patio with seating and 109 parking spaces with some dedicated and capable spaces for electric vehicles. The hotel by U.S. 23 Lodge LLC will be dual-branded as Staybridge Suites and Holiday Inn Express.

Duetto has been acquired by GrowthCurve Capital. GrowthCurve is acquiring the business from Warburg Pincus' affiliates and other shareholders. Terms of the transaction were not disclosed. GrowthCurve will partner with Duetto to further accelerate its AI strategy, including the development of new AI products, support the launch of new business lines and expand into new markets.

Hunter Hotel Advisors announced the sale of the 82-key Springhill Suites Greensboro. The North Carolina property was sold for an undisclosed price. Hunter represented the institutional seller.

RobertDouglas represented, as exclusive advisor, Castle Peak Holdings and its Trailborn brand, in arranging a $80.3 million loan for the financing of a three-hotel portfolio in supply-constrained, high barrier-to-entry outdoor hospitality destination markets across the United States. The 310-key portfolio includes the fully renovated and re-launched Trailborn Highlands opening in July 2024 in Highlands, North Carolina, along with properties outside the Grand Canyon (Williams, Arizona) and in Wrightsville Beach, North Carolina, which will re-launch upon completion of comprehensive renovations in Fall 2024 and Winter 2024, respectively.

Personnel Move

Auro Hotels announced the appointment of two professionals to its executive team. Rebecca Trumbo joins as Procurement Director, while William Gullion steps into the role of Vice President of Design & Construction. As Director of Procurement, Rebecca will oversee the entire procurement process, ensuring compliance with company policies, quality standards, and legal requirements. Her role will also involve building and maintaining strong relationships with suppliers, from requisition to delivery. Before joining Auro Hotels, Rebecca held significant roles in procurement at Best Western Hotels & Resorts, IHG, and Hilton Hotels. William will lead the execution of design and construction initiatives, ensuring adherence to industry standards and best practices. His collaborative approach will drive successful renovations and new construction projects. William's previous roles include President of Architecture Design and Construction at Virage Creative and VP of Global Shared Technical Services at Hilton Worldwide.