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North America

Hyatt Acquires ‘me and all hotels’ Brand in Europe

Alan Woinski and Kim Woinski
June 30th, 2024 at 7:00 PM EDT

The DJIA ended Friday down 40 points while Nasdaq was down 126, the S&P 500fell 22 points and the 10 year treasury yield was up .06 to 4.34%. Lodging stocks had a good day despite the averages. AHT rose 12% while SVCBHRVCSA and VAC were each up 5% on the day.

Hyatt Hotels Corporation announced a Hyatt affiliate has acquired the me and all hotels brand from Lindner Hotels AG to unlock growth in new European markets and build on Hyatt’s strong momentum in the region. Following the transaction, me and all hotels, which is currently a nested brand within Hyatt’s JdV by Hyatt brand, will become a standalone brand within Hyatt’s global lifestyle portfolio. The me and all hotels portfolio has six hotels and 1,000+ rooms in central city locations across Germany, which are currently included in Hyatt’s inventory. The brand has a healthy pipeline, combining conversions and new builds in key destinations including Berlin, slated to open in 2024; and HamburgLeipzig and Stuttgart, all expected to open in 2026.

McKibbon Equities has closed on the purchase of Courtyard by Marriott Atlanta Buford Mall of Georgia located northwest of Atlanta. The 110-key property was purchased from an affiliate of Hotel Equities and represents the second portfolio investment for McKibbon Income Fund 1. The institutional seller was represented by Hunter Hotel Advisors. The five-story hotel offers an indoor pool, fitness center and onsite dining experience. McKibbon will be completing a comprehensive renovation of all guestrooms and public spaces which will be carried out by McKibbon PlacesMcKibbon Hospitality will operate the property.

Commonwealth Hotels announced the completion of a comprehensive $6.2 million renovation project of the Hampton Inn Louisville Airport in LouisvilleKentucky. Key highlights of the renovation includes: the complete overhaul of all guestrooms; redesigned lobby and common areas; upgraded fitness center and enhanced breakfast area; and updated façade with improved landscaping and lighting.

IHG is opening its first-ever Vignette Collection resort in the Mexico-Caribbean region next year, according to Caribbean Journal. The new El Gran Encomendero is set in the town of Valladolid and is the first international-branded hotel in the town. Amenities of the 83-room hotel include a restaurant, a bar, a rooftop pool, gym and a wellness center.

Ashford Hospitality Trust, Inc. has closed on the previously announced sale of the 193-room One Ocean Resort located in Atlantic BeachFlorida. All proceeds from the sale will be used for debt reduction and general corporate purposes. The Company continues to have additional assets in the market at various stages of the sales process.

The Bellevue Gardens Shopping Center, in NewportRhode Island, was sold for $40 million to Procaccianti Companies last year. The company is looking to build a 91-room hotel with a full complement of upscale amenities at the site. The footprint of the hotel and additional below-grade parking fits within the existing site without any changes to the retail plaza or its tenants. Procaccianti Companies is slated to present its proposal to Newport’s Technical Review Committee next month.

Hotel Heron has officially opened in AlexandriaVirginia. The 134-room boutique hotel boasts three distinct restaurants and bars, a fitness center and over 3,500 square feet of versatile indoor meeting and event space along with additional outdoor options. Hotel Heron is part of Aparium Hotel Group.

Art Ovation hotel, in downtown Sarasota, Florida, has submitted an application for administrative site plan approval to build above existing space with plans to add eight guestrooms, a 450 square foot office space and a covered area with finishing kitchen on the roof. The rooftop covered area is intended to address complains of heat in and around the pool deck and outdoor bar.

The foreclosed Hudson River Hotel, in Midtown Manhattan, has been sold after years of bankruptcy proceedings. Hudson West Hospitality LLC is the new owner of Hudson River Hotel, a two-star hotel with 56 guestrooms in a slender 15-story building. Hudson West purchased the building for $18.2 million through bankruptcy proceedings. The property was previously owned by hospitality professional Ae Sook Choi. After the acquisition, Hudson West entered an agreement with Choi’s company and the loan’s servicer, Wilmington Trust, to assume the $14.2 million of debt on the property. Ladder Capital Finance is the originator of the loan. The sale of Hudson River Hotel comes after Janus Resorts & Hotels managed the hotel in receivership. Commercial real estate brokerages Marcus & Millichap and Hilco Real Estate represented Choi in the sale.

The Hayes Hotel in Downtown JacksonMichigan will get a facelift and be rebranded as just The Hayes. After sitting vacant for about 20 years, this week, the state budget was passed and the city of Jackson received $4.5 million to close a funding gap for the redevelopment of the almost 100-year-old building. J. Jeffers & Co, who purchased the property in 2022, and the city have been working to secure more funding for the building as it needs a lot of work. Now, that the funding gap is closed, construction could start as early as the fall of 2024.

The developers behind 60 Main, a downtown hotel-apartment building project in Winona, Minnesota, hosted a groundbreaking ceremony. The Developers, comprised of Rivers Hospitality, the Winona Real Estate Fund, and Wieser Brothers General Contractor, hope to open a restaurant and event center at the neighboring former Jefferson’s Pub by the end of the year and the hotel-apartment building next fall. Updated plans for the hotel-apartment building include 34 apartments as well as 75 hotel rooms, of which 24 will be extended stay rooms.

Wheeler Development Group broke ground on their new project, Hotel Rosa, in Downtown Rockford, Michigan. The brand-new boutique hotel will feature 54 guestrooms, 2 restaurants and 10,000 square feet of ground level space for retail shops. The hotel will be managed by AHC Hospitality. Construction of the hotel will take about 12 months.

A dilapidated former motel and used car shop in ArlingtonTexas is poised for a $54 million transformation into an upscale hotel. Valencia Hotel Group and car dealership owner Sam Mahrouq, operating as Division Hotel Management LLC, plan to raze the former Caravan Motel and the Dollar Car Sales property, clearing the way for a 145-room hotel. Mahroque’s LLC owns the property. The Arlington City Council unanimously approved a $4 million funding package to support the development, called Caravan Court. The agreement stipulates that demolition must be completed by September 30, with the hotel opening by the end of 2026.

ARC Realty Group will build the eight-story CW Resort & Marina in Clearwater Beach. The project will have 91 units including 11 penthouses. Construction is expected to begin in October and is estimated to be complete by March 2026. Owners will have the option of using their residence or placing it on the onsite rental program for revenue. The CW Resort will have an amenity terrace overlooking the water that will include a heated outdoor pool with a hot tub, private cabanas, fitness center, a restaurant and bar. The property will also have room service and security, as well as airport shuttles, a concierge, poolside services and valet parking.

The Montauk Yacht Club is open, in MontaukNew York, following a multi-million dollar renovation and addition of the Ocean Club Montauk. The 107-key Star Island seaside resort and marina is now under the management of Proper Hospitality within The Collective. The resort common spaces, outdoor facilities, rooms and suites have been refreshed. The property also features an all-new gym, The Market at Montauk Yacht Club and a boutique. Outdoors, the resort’s refreshed facilities include two updated pools, a private beach, two tennis courts, a sand volleyball court, bocce courts, and in partnership with Prive Padel, two new Padel courts. Montauk Yacht Clubs’ 35 acres are home to the largest marina in the Hamptons and features more than 200 slips.

Vancouver‘s most fashionable retreat, Rosewood Hotel Georgia has reopened following an extensive five-month renovation to unveil re-imagined culinary concepts, 156 refined rooms and suites and a redesigned lobby and public spaces. Following the property’s initial reopening, Reflections Terrace will be reintroduced in the second half of 2024 as a year-round dining destination.

Merani Hotel Group Inc. and its owner Faisal Merani filed a complaint on June 26 in New York State Supreme Court in Niagara County against Brine Wells Development, LLC, developer Edward Riley and Hotel Niagara Development LLC, an affiliate company of Brine Wells. The complaint, which seeks monetary damages of at least $2 million, accused Brine Wells and Riley of violating contractual obligations tied to the $52 million Hotel Niagara project. It also included allegations of breach of agreement and unjust enrichment and asked for an injunction preventing the project from proceeding without Merani. According to the complaint, Brine Wells had an agreement in place for Merani Hotel Group to play a major role in the project and that agreement was terminated on the cusp of approvals by Empire State Development. ESD and the Niagara County Industrial Development Agency this month approved plans by Brine Wells to restart work on the 160-room, 12-story hotel. According to Merani Group, they invested 15 months of planning and over 1,000 hours as well as $45,000 in application fees for financing. That led to $4 million allocated by ESD to the project, including $1.9 million originally allocated to other Merani projects. Merani Group said Brine Wells then began conversations with another developer in early 2024 in violation of the agreement before terminating the agreement with Merani Group on April 30.

Personnel Moves

Remington Hospitality announced the promotion of Ted Peters to Senior Vice President of Beverage & Food. With 16 years as a key member of the firm’s growing team, Ted has spearheaded B&F efforts over the past two years, leading to substantial growth across Remington’s properties. In his new role, Ted will continue to drive innovation and excellence, further advancing Remington Hospitality’s B&F strategy.

Dreamscape Hospitality announced the appointment of Frank Solano as Senior Vice President of Revenue Management. In this role, Solano will lead the company’s revenue management ream to maximize each hotel’s topline strategy and execution. Most recently, Solano served as the Senior Vice President of Revenue Management for Aimbridge Hospitality.

LuxUrban Hotels Inc. announced the appointment of Patrick McNamee as an independent member of the Company’s Board of Directors, effective June 27, 2024. The Company also announced that Brian Ferdinand has resigned from the Board. Mr. McNamee brings more than 30 years of experience as a public company executive, investor, and board member. He will serve as Chair of LuxUrban’s Compensation Committee and as a member of the Nominating and Corporate Governance Committee. Mr. McNamee is currently an Operating Partner at BPOC, a private equity firm. As a result of Mr. Ferdinand’s resignation, the Board will remain at seven members each of whom is deemed to be independent.

Alan Woinski and Kim Woinski
June 30th, 2024 at 7:00 PM EDT

Companies: Hyatt Hotels Corporation, Aparium Hotel Group, Ashford Hospitality Trust, Braemar Hotels & Resorts Inc., Commonwealth Hotels, Courtyard by Marriott, Dreamscape Hospitality, Hampton by Hilton, IHG Hotels & Resorts, JdV by Hyatt, Lindner Hotels AG, LuxUrban Hotels Inc., Marriott Vacations Worldwide, McKibbon Hospitality, me and all hotels, Proper Hospitality, Remington Hotels, Rosewood Hotels & Resorts, Vacasa, Vignette Collection

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