Corinthia Hotels Debuts in New York City

The DJIA ended Friday with a gain of 247 points, around half of its biggest gain of the day. Nasdaq was up 115 points, the S&P 500 was up 31 points, and the 10-year treasury yield ended the day at 4.19%. Lodging stocks were higher.

The 1,574-room Hilton Anaheim is set for a multi-million dollar, full-scale renovation that is expected to be completed by Spring 2025. The overhaul will include redesigned guestrooms, upgrades to the 105,959 square feet of meeting and event space, a restaurant and bar rebrand, improved outdoor spaces and other improvements.

RDA Hotel Management Company announced the Hilton Akron/Fairlawn, in Akron, OH, is repositioning itself as a DoubleTree. The 80-room hotel will remain in the Hilton family and have the same amenities, including an indoor and outdoor pool, meeting rooms and a fitness center. It will undergo an over $4 million renovation while keeping its management, ownership and service the same.

A Hilton-branded hotel will be part of the redevelopment of the Inlet Square Mall, in Garden City, South Carolina. The hotel is expected to bring 134 rooms, 147 parking spaces and more green space to the plaza. The hotel will take up around 7% of the redeveloped mall's 60-acre footprint. The rest of the space will be turned into a mixed development that will include retail shops as well as restaurants.

Gulph Creek Hotels has been selected as the management company for the SpringHill Suites Centreville Chantillyin Northern Virginia. The hotel offers spacious and stylish suites, a fitness center, indoor pool and a business center.

Developer HCW Nall, LLC is proposing to build an AC Marriott Hotel at the Aspiria campus in Overland Park, Kansas. The project would rise four stores and contain 125 guestrooms with an outdoor pool and waterfall feature. Restaurants and retail are also proposed as part of the project.

A new 107-room hotel is proposed for a site on North Hardin Boulevard in McKinney, Texas. McKinney Planning and Zoning Commission members recommended approval of a rezoning request for the site that would allow higher building heights. The rezoning request would allow for the construction of a four-story hotel.

IHG Hotels & Resorts announced the opening of a new-build Holiday Inn Express hotel in Columbus, Georgia. The hotel offers 106 rooms, 1,355 square feet of meeting space, a fitness center and an outdoor pool. Holiday Inn Express Columbus Northeast is owned by Ram Columbus Hospitality, LLC and managed by Ram Hotel Management, LLC.

The Great Wolf Lodge, in Grand Mound, Washington, has completed a sweeping $40 million renovation. The resort added seven cave-themed family suites, completed with bunk beds. The resort's existing 400 rooms were also made over during the two-year renovation. While much of the resort's indoor water park was left untouched, updates were made to kids' play areas. The resort offers two new sit-down restaurants and new shopping options and the lodge's nearly 20,000 square foot conference enter also received a face-lift.

The Surrey, A Corinthia Hotel is primed to reestablish itself as one of New York City's most sought-after destinations. The addition of this property represents a significant milestone for Corinthia Hotels and the Reuben Brothers as The Surrey is the brand's first property in North America. The hotel offers 70 guestroom and 30 suites; Casa Tua, The Surrey's exclusive food and beverage partner offers a restaurant and lounge along with the Club, an exclusive private members' area; The Surrey Spa; and a collection of 14 private residences located above the hotel.

Highgate announced the opening of the Amrit Ocean Resort, located in Singer Island of Palm Beach County, Florida. Amrit offers 155 guestrooms including 25 suites; 40 luxury two-bedroom sky villas; Amrit Wellness & Spa spanning four floors; a fitness center; five dining concepts; a third-level pool with cabanas and daybeds; and over 10,000 square feet of indoor meeting space, plus nearly 3.5 acres of oceanfront outdoor space. Amrit is part of the Preferred Hotels & Resorts L.V.X. collection.

Wayfinder Newport, the first hotel in Dovetail + Co's expanding Wayfinder collection, re-debuts in summer 2024 after a compressive rebuild and renovation. The property features 197 guestrooms and 30 suites; B-Side lobby coffee bar; The Pool Shack cocktail bar; an outdoor pool and party deck; and Nomi Park, the onsite restaurant.

The freshly renovated and re-launched Tropicana Los Cabos will open its doors this August in San Jose del Cabo, Baja California Sur, Mexico. The re-imagined property will feature 68 guestrooms and two suites, multiple food and beverage outlets, a wellness center, a game room, an outdoor hot tub and heated pool. To accommodate events and meetings the hotel will offer a total of 8,353 square feet of versatile indoor and outdoor meeting space.

Deep Creek Lake's newest luxury hotel is open and ready for business in Garrett County, Maryland. Owned by Mark Hondru, Cove Creek Lodge, previously The Inn at Deep Creek Lake, completed an eight-month renovation, transforming it into a 4-star hotel.

JLL Hotels & Hospitality arranged the sale and financing of Home2 Suites by Hilton North Scottsdale, a 130-room hotel located in Scottsdale, Arizona. JLL represented the seller, and working on behalf of the new owner, JLL also procured the acquisition loan from a regional credit union. The property offers 500 square feet of flexible meeting space, a fitness center and an outdoor pool.

Walker & Dunlop, Inc. arranged $148,000,000 in loan proceeds to refinance The Victoria, a multi-tower, 30-story project built around Harlem's Victoria Theater redevelopment. The Walker & Dunlop New York Capital Markets team acted as exclusive advisors to the clients, Lam Group and Exact Capital. The team identified Aareal Capital as the lender to secure the loan that will support ongoing operations and future enhancements of this iconic project. The Victoria blends 191 luxury residences, a 211-key Renaissance Hotel, over 23,000 square feet of retail space and 52 below-grade parking spaces.

LuxUrban Hotels Inc. announced the pricing of its previously announced public offering of 30,000,000 shares of common stock at a price of $0.17 per share. The underwriters also were granted an over-allotment option for up to 4,500,000 additional shares of common stock. Alexander Capital, L.P. is acting as sole book-running manager for the offering which is expected to close on or about July 15, 2024. The Company intends to use the proceeds from the offering for working capital and other general corporate purposes

Europe Highlights

Auberge Resorts Collection has been appointed by Reuben Brothers to manage Cambridge House, the former In and Out Military Club, in Mayfair, London. Set to open in late 2025, Cambridge House, Auberge Resorts Collection will be part of Reuben Brothers' £1 billion regeneration of 1.3 prime acres of the Piccadilly Estate. The 102-room hotel, together with its private members' club, will offer a lively dining scene, a double-level spa, and event spaces suited to every occasion.

The Crowne Plaza Felbridge Hotel in Gatwick, London, UK, has been put up for sale, which is being facilitated by Christie & Co. The hotel features 116 en-suite bedrooms, a restaurant, bar, spa, indoor pool and a fitness center. The property also offers 26,511 square feet of function and meeting facilities spread across eight venues.

Iberostar Beachfront Resorts announced an important evolution to its brand identity and hotel portfolio segmentation. The updated approach is embedded with five strategic pillars: Exceptions Quality, Effortless Experiences, Service with Heart, Moments that Matter, and Sustainably Positive. Three brand segments have been carefully designed to help customers find the most suitable hotel, experiences, and services for their beachfront vacation needs. These include: Iberostar Waves, Iberostar Selection, and JOIA by Iberostar. The new segmentation will be rolled out across the portfolio over the next few months. Iberostar Waves Gaviotas Park (Fuerteventura) will be the first opening of the chain's Iberostar Waves segment this August. JOIA Aruba by Iberostar, the company's first resort of the Caribbean island, is scheduled to open later this year and will become the flagship of the JOIA segment. The new approach is already visible in some of the company's latest openings such as the Iberostar Selection Creta Marine hotel on the Creek island of Crete.

Radisson Hotel Group announced the opening of Stanhill Court Hotel, a member of Radisson Individuals, in the village of Charwood, Surrey in the UK. The newly affiliated hotel features 56 rooms, an amphitheater, and a restaurant. Stanhill Court Hotel, a member of Radisson Individuals, boasts a range of meeting and event spaces including the beautiful orangey, with over 140 square meters of versatile space, onsite parking for 100 cars and additional space for coaches.

NUMA Group is acquiring Native Places for an undisclosed price. Native Places, a division of Native Holdings, has two brands, The Apartment Collection and Native Aparthotels, with a total portfolio of 800 rooms in Edinburgh, Glasgow, London and Manchester. The acquisition increases NUMA's unit count to more than 7,300 in Europe.

Whitbread PLC has disposed of a Manchester development site to Student Roost, as part of the company's asset intensification strategy. The sale of the site once occupied by the Premier Inn Manchester Deansgate hotel was part of two site acquisition with planning permission for purposed-built student accommodation by Student Roost. Once completed, the sites will add a total of 1,850 beds to Student Roost's UK portfolio in Manchester and Birmingham. Both assets will be developed by Greystar.