San Francisco’s Largest Hotel Complex Inches Closer to Sale

The DJIA surged 462 points today while Nasdaq was only up 6, the S&P 500 rose 32 points and the 10-year treasury yield was up 0.03 to 4.43%. Lodging stocks were higher. VCSA was up 7%, SHCO rose 6%, while AHT, SVC, and PEB each rose 5% on the day. PEB was raised to Buy from Neutral by Compass Point with a price target of $17.

STR reported U.S. hotel data for the week ending November 16. U.S. hotel RevPAR was up 0.4%, with occupancy up 1.5% and rates down -1.1%. Group RevPAR was down -2.9%.

While the Austin Convention Center closes for four years, White Lodging, with approximately 22% of the central business district hotel rooms in its portfolio, has the most to gain and lose during the closure. The AustinPlace Hotel Collection fills this temporary void by offering the largest collection of Marriott hotels in Texas and meeting space nearly reaching the size of the existing convention center. AustinPlace offers group meeting planners and travelers a centralized connection to 10 downtown Marriott-branded hotels featuring more than 220,000 square feet of meeting space, including two exhibition halls, nine ballrooms, and dozens of options for indoor and rooftop group dining and entertaining spaces. White Lodgingrecently announced the 258-room Hotel Trinity, Autograph Collection, which will be the 11th hotel in the AustinPlace Collection once construction is complete by the end of 2026. The Westin Austin Downtown is in the final months of a major renovation that includes all meeting rooms, pre-function space, and guestrooms. In the second half of 2025, the Westin’s lobby will undergo the final stages of the property’s renovation, including a reinvented restaurant. The JW Marriott Austin is undergoing a similar renovation of guestrooms and meeting spaces, as well as adding a new market concept to the lobby. This renovation is scheduled to finish in early 2025.

The San Juan Marriott & Stellaris Casino has completed an extensive renovation of the property. The recently completed renovation of the resort includes refreshed guestrooms and suites, newly designed pool cabanas, a new array of dining experiences, and renovated common areas. San Juan Marriott & Stellaris Casino is also introducing several new amenities, starting with an updated lobby and front desk area. Additional enhancements include the Ocean Club Experience, which adds new pickleball and tennis courts, a poolside cabana area, and a market. The hotel’s event spaces have been fully renovated to provide a modern, versatile setting for both meetings and social events. Additionally, the Cosecha Oceanfront Terraceand a private dining area are available for small gatherings.

Cincinnati, Ohio, will soon unveil its latest addition to the Tribute Portfolio Hotel by Marriott collection with the opening of Hotel Celare. The seven-story, 171-room property will offer an onsite restaurant and bar, a fitness center, market, and event spaces with outdoor terraces. A collaboration between Crawford Hoying and Shaner Hotel Group, Hotel Celare, will open this winter in The District at Clifton Heights. Crawford Hoying serves as the owner and developer in partnership with Shaner Hotel Group as the operator. This serves as the first Cincinnatidevelopment project owned and operated by both parties, respectively.

Related Group and BH Group announced plans to launch W Pompano Beach Hotel & Residences, a 24-story tower on nearly four beachfront acres in Pompano Beach, Florida, managed by W Hotels. The project will feature 74 condominium residences, three penthouse residences with private rooftops, and 296 fully furnished condo-hotel suites. While some perks are reserved for W Pompano owners, like the resident-only pool, club lounge, and private fitness center, other amenities are open to the public. These include the open-air WET Pool Deck, a full-service bar and grill, pickleball and paddle courts, a Jacuzzi, a Living Roomgathering and event space, a fitness center and yoga studio, and The AWAY Spa.

Crown Realty & Development is planning to build the $2 billion mixed-use City North project in Phoenix, Arizona. The project would include a new hotel, corporate campus, retail, and housing on a 100-acre property. The hotel portion will include an AC Hotel by Marriott and Element by Westin dual-branded hotel, developed by LaPour Partners and Holualoa Cos. It will include 240 guestrooms with 5,500 square feet of meeting space and is expected to break ground in the summer of 2025 with an opening date in early 2027.

The DoubleTree by Hilton Greensboro Airport has officially reopened following the completion of extensive renovations. Managed by Commonwealth Hotels and owned by SMP Greensboro LLC, the property features newly redesigned guestrooms, refreshed lobby and communal areas, upgraded dining options, and improved meeting and event spaces.

A new, dual-branded, 207-room Tru/Home2 Suites by Hilton hotel opened in Phoenix, Arizona, according to ktar.com. The new five-story hotel offers 104 Trurooms and 103 Home2 Suites rooms. Developed by Plaza Companies, Holualoa Companies, and Fayth Hospitality Group, the hotel features a fitness center, a laundry center, a rooftop pool, an outdoor firepit and grills, a pool table, and games in the lobby.

San Francisco’s largest hotel complex is inching closer to a buyer, according to bizjournals.com. Eastdil Secured, acting as a broker, submitted its first and final calls for bids on the Hilton San Francisco Union Square and Parc 55 hotels. The connected and jointly managed hotels, with nearly 3,000 rooms combined, have been under court-appointed receivership for just over a year since former owner Park Hotels & Resorts handed in the keys rather than pay off its related $725 million loan. The receiver, Michelle Russo of Hotel Asset Value Enhancement, has a deadline to contract a buyer by March 31, 2025.

Waldorf Astoria New York unveiled details on the property’s signature restaurant, Lex Yard, expected to debut in spring 2025. The two-story American Brasserie-style restaurant features a lively bar and casually elegant dining room. Once open, Lex Yard will also be available for private events.

The Grand Hyatt Deer Valley has opened in Park City, Utah. The resort features approximately 436 luxury accommodations, including 55 residences, and introduces a variety of culinary concepts. Additional amenities include a heated outdoor pool, three oversized hot tubs, a spacious pool deck, nearly 30,000 square feet of indoor and outdoor event space, and a dedicated Camp Hyatt Kids Club.

The iconic Omni Severin Hotel, in the heart of downtown Indianapolis, Indiana, has completed its $24 million renovation. The property features 424 elegantly appointed hotel rooms, including 36 suites, Bar Cardinale, and the newly opened 8th Notch Café & Market.

IHG Hotels & Resorts and owner Pacifica Host Hotels recently began the conversion of a Holiday Inn Express & Suites hotel in Solana Beach, California, to IHG’s boutique voco hotels brand. The conversion will include an extensive renovation of the hotel’s 80 guestrooms, public spaces, and building exterior. The soon-to-be voco Solana Beach-Del Mar will also feature new and vibrant bar and restaurant concepts.

IHG Hotels & Resorts celebrated the opening of a new Holiday Inn Express & Suites in Augusta, Georgia. The hotel offers 83 rooms, 936 square feet of meeting space, an outdoor pool, and a fitness center. Holiday Inn Express & Suites Augusta W - Grovetown is owned and operated by Grovetown Hotel, LLC.

Lodging Dynamics Hospitality Group has been appointed to manage The Wilde Resort and Spa, which is located in the heart of Sedona, Arizona. The resort offers 137 rooms and suites, a spa and wellness program, a chef-driven culinary experience, and flexible indoor and outdoor event spaces.

A myriad of renovations and upgrades have debuted and are underway at the Barnsley Resort in Adairsville, Georgia, marking the resort’s 25th anniversary. This multifaceted venture entails a renovation to the cottage guestrooms and suites, the debut of Biergarten, new pickleball courts, improvements to the Beretta Shooting Grounds, and more. The resort’s 39 free-standing cottages, inclusive of 84 guestrooms and suites, just completed a $6.2 million remodel.

LuxUrban Hotels Inc. announced the signing of a Non-Binding Letter of Intent with Lockwood Development Partners LLC and The Bright Hospitality Management, LLC, proposing to establish a joint venture focused on hotel services and operations. The joint venture would initially focus on two LuxUrban properties in New York City, with the parties considering expansion of the relationship to include additional LuxUrban hotels based on the success of the initiative. Lockwood would initially invest approximately $7 million to address obligations and enhance facilities in the initial two JV hotels, with potential additional investments reaching up to $35 million if all existing LuxUrban hotels are later added to the JV structure. The JV would introduce Lockwood’s Vitality brand to the New York City market, enhancing customer engagement through a loyalty program and cohesive branding strategy.

Jacobs Entertainment announced a significant $140 million development plan for J Resort in Reno, Nevada, including a new outdoor entertainment agreement with JMF Presents. The partnership will see JMF Presents manage J Resort’s outdoor entertainment activities for the next five years, starting in 2025. The development includes the creation of J Resort’s Festival Grounds, a dedicated outdoor festival space spanning over 10 acres, accommodating up to 15,000 patrons. It is set to become downtown Reno’s first and only dedicated outdoor festival space. Jacobs Entertainment is investing approximately $5 million into site improvements ahead of the 2025 grand opening of the Festival Grounds. An additional $125 million is being allocated for construction and predevelopment work at J Resort, including accessible parking, additional gaming, and a new food and beverage creation. Additionally, J Resort is constructing Rolling Art, a 400-seat banquet hall with a pre-function area showcasing over $50 million of European sports cars from the Jacobs’ Collection, including all five of Ferrari’s supercars. Further plans include a west expansion with an 800-seat banquet and meeting space, spa, and indoor/outdoor rooftop pool.

Renovations to the former Hotel Blue in Albuquerque are near completion, and the new hotel is expected to open in the first quarter of 2025. Arrive Albuquerque, a six-story boutique hotel being developed by Palisociety, will feature 137 rooms, a pool, patio, fitness center, and DWTNR Cocktail Bar & Lounge. This is Palisociety’s fifth Arrive hotel and its first in New Mexico.

LivAway Suites announced the grand opening of its third national location in Smyrna, Tennessee. Developed by West77 Partners and financed by Keystone National Group, this 126-suite hotel features self-serve check-in kiosks, smart laundry facilities, and automated parcel lockers.

Travelweekly.com featured a story on the recent announcement that Hotel Xcaret Mexico in Quintana Roo, is investing $700 million to expand its family program by the summer of 2025. The expansion will double the hotel’s lodging capacity to a whopping 1,800 guestrooms spread across 10 distinct Casas, up from the original five. Hotel Xcaret Mexico’s already impressive pool selection will be expanded to 16 pools, four of which will be on rooftops. Five waterslides will be introduced, as well. The entertainment selection is also due for an upgrade, including a kids’ hotel, a teen club, a new Xinema, a restaurant, and a movie theater concept. Dining at the Hotel Xcaret Mexico will be expanded to include 20 signature restaurants, doubling the number of culinary offerings.

Hunter Hotel Advisors announced the sale of the Courtyard and Residence Inn Memphis Southaven. Woodvale purchased the two properties from Chartwell Hospitality. Situated in DeSoto County, Mississippi, the Courtyard and Residence Inn Memphis Southaven offer a combined total of 163 keys, fitness centers and pools as well as various onsite dining options. Chartwell Hospitality will continue to manage the hotel upon the change of ownership.

Hyatt Hotels Corporation announced the opening of Hyatt Centric San Jose Escazu, marking the first Hyatt Centric-branded hotel in Costa Rica. The full-service, lifestyle hotel features 161 rooms and suites, multiple dining options, over 6,000 square feet of flexible event space, complimentary parking, electric vehicle charging, and a fitness studio.

Personnel Moves

Mandarin Oriental Hotel Group announced the appointment of Tiffany Cooper as Head of Development, Americas. Tiffany will play a pivotal role in leading the development and investment initiatives for the Americas region, focusing on the important U.S. market, Canada, and Latin America for the Group. Most recently, Tiffany served as Chief Development Officer for the Americas and Caribbean at Aimbridge Hospitality.

Kessler appointed John Luckett as president of hospitality operations. Formerly Kessler’s chief operating officer, John will be returning to the brand, expanding on his previous 15-year tenure, and overseeing the company’s hospitality, sales and marketing, information technology, human resources, and operations sectors. Prior to his current role, John served as the chief operating officer at MasterCorp, Inc.