Marriott Buys Postcard Cabins to Build an Outdoor Hospitality Brand
Skift Take
The DJIA fell 234 points, Nasdaq was down 132, the S&P 500 fell 33 points, and the 10-year treasury yield was up .05 to 4.32%. Lodging stocks were lower. WH traded up to another new high.
Alliance Global Partners initiated coverage on Chatham Lodging Trust with a Buy rating. They set their target price at $12.
Host Hotels announced a special dividend of $0.10 per share, in addition to their regular quarterly dividend of $0.20 per share.
Marriott International, Inc. announced the expansion of its outdoor-focused lodging offerings through two founding deals. The deals include the acquisition of the Postcard Cabins brand, formerly known as Getaway Outposts, and the executive of a long-term agreement with Trailborn. The company plans to launch an outdoor-focused collection in 2025, anchored by these deals. The Postcard Cabins and Trailborn portfolios offer alternative accommodations such as tiny homes and cabins in natural destinations and unique lodging near outdoor wonders like national parks, deserts, ski areas and shorelines. Each property of the Postcard Cabins brand consists of groups of tiny cabins located within two hours' drive of major metropolitan areas. The current Postcard Cabins portfolio, comprised of 29 properties with over 1,200 cabins across the United States, will operate under long-term agreements with Marriott. Trailborn's current and pipeline portfolio consists of 559 rooms across five outdoor destinations, with several projects in development. They have locations near Rocky Mountain National Park, Grand Canyon and in Highland, North Carolina, with properties to come in Wrightsville Beach, North Carolina and Mendocino, California. More details at Skift.
Remington Hospitality has assumed management of the DoubleTree by Hilton Hotel Orlando Downtown, the Holiday Inn Express & Suites Orlando at SeaWorld, and the TownePlace Suites Orlando at SeaWorld.
Vivo Development Partners has started construction on a new Tempo by Hilton & Homewood Suites Hotel in Mesa, Arizona. According to hotelprojectleads.com, the dual-branded Tempo by Hilton and Homewood Suites by Hilton at Gallery Parkwill include 174 guestrooms and be four stories tall. Tempo by Hilton will offer 97 rooms and have a resort-style pool with cabanas, an event lawn, private event spaces and indoor and outdoor fitness areas. The Homewood Suites by Hilton portion of the hotel will include 77 extended-stay suites. The hotel will also have a full-service restaurant and bar.
Seva Hospitality is proposing to build an extended stay LivSmart Studios by Hilton hotel in Florence, Kentucky. According to hotelprojectleads.com, the four-story hotel would have 99 guestrooms with a 97-space parking lot.
Capital Vacations, LLC announced the acquisition of certain assets of Narveson Management Inc. The 22 assets are located in Minnesota's Breezy Point and Brainerd Lakes areas.
Sonesta Miami Airport celebrated the completion of a five-month-long, multimillion-dollar renovation. The renovation included a complete transformation of each of the hotel's 309 guestrooms, a newly opened onsite restaurant, and public spaces and amenities, including a rooftop pool complete with a sun deck and a fitness center. The hotel also boasts more than 7,400 square feet of versatile spaces for business meetings or social events.
Curator Hotel & Resort Collection is expanding its portfolio with the addition of One Ocean Resort & Spa in Atlantic Beach, Florida. The property features 193 guestrooms, a spa and a restaurant.
Topgolf will be opening on December 20 as part of the Prado Vista development in Ridgeland, Mississippi. One of the outgrowths from Topgolf being the anchor of the 77-acre mixed-use development that will include more than 100,000 square feet of office, retail, restaurant space, 228 homes for sale, and a river walk will be a convention center hotel. PraCon Global Investments confirmed that they are in agreement with a national hotel that will build a hotel and convention center adjacent to Topgolf.
The land where Merchants of Beer recently closed has been sold to a group that plans to build an eight-story hotel at the entrance to the historic downtown Knoxville neighborhood. At the entry point to the Old City, Vector Hospitality will build a Moxy by Marriott hotel. The new hotel will be slanted, with eight stories on one side and seven on the other. It will add around 170 rooms and a rooftop bar. Vector plans to break ground in the first quarter of 2026 and open in fall 2027.
Fontainebleau Miami Beach celebrated the grand opening of the Coastal Convention Center yesterday. The Coastal Convention center spans five stories and 45,000 square feet, including a 7,000 square foot rooftop deck. The convention center will connect to Fontainebleau Miami Beach via sky bridge, perfectly complementing the resort's 200,000 square feet of indoor and outdoor meeting and event space.
A Monopoly-inspired boutique hotel is set to break ground in Atlantic City, New Jersey in early 2025. According to RMS Capital, The Top Hat at The Orange Loop will be a three-story structure featuring a top hat on the roof and a racecar protruding from the façade. Inside, the ground floor will offer 1,400 square feet of commercial space. The upper level will feature a boutique-style short-term rental that can accommodate up to 12 guests and a rooftop deck. RMS Capital did not specify an address for the property but said it would be in the heart of the Orange Loop.
A hotel with a two-level synagogue just west of Treasure Island in Las Vegas, Nevada, is moving forward. The non-gaming KDH Hotel, formerly known as the King David Hotel, was recommended for approval by the Paradise Town Advisory Board and is expected to be reviewed by the Clark County Commission on January 8. Plans for the 486-room property call for back-of-the house uses on levels 1-12, a pool on level 13, the level 14 lobby sandwiched between retail on levels 13 and 15, hotel rooms on levels 16-42, more back-of-the-house on level 43, more retail on levels 44-46, and the worship facility on levels 47 and 48. The KDH will also have kosher restaurants, bars a banquet facility and convention space.
The Hotel Saint Joseph opened in November in Port St. Joe, Florida. Formerly a bank, the new hotel offers 27 guestrooms and a pool and deck with a seating area.
The historic Dearborn Inn, located in Dearborn, Michigan, has undergone a massive renovation and is set to open in early 2025. As part of the extensive renovation, the historic hotel will re-launch as part of Marriott Bonvoy's Autograph Collection.
Newmark Group, Inc. announced the completion of a $525 million refinancing on behalf of ICONIQ Capital and Sentral: a single-asset, single-borrower CMBS loan to refinance flexible apartment properties. Newmark arranged the financing, which was provided by Deutsche Bank and Goldman Sachs. The transaction is tied to a portfolio of six apartment properties totaling 1,790 units in urban markets. Sentral operates each asset in the portfolio, which includes Sentral Union Station in Denver; Sentral Michigan Avenue in Chicago; Sentral SoBro in Nashville; Sentral Wynwood in Miami; Sentral East Austin 1614; and Sentral East Austin 1630. Gibson Dunn and Latham & Watkins also advised on the transaction.
Personnel Moves
Stonebridge Companies, LLC announced the appointment of Marco Selva as Senior Vice President of Business Development & Operations, Luxury & Lifestyle. Selva will focus on expanding Stonebridge's luxury, lifestyle and resort portfolio in the Southeastern United States, Caribbean, and Latin America. Before joining Stonebridge, Selva held senior roles in business development, operations and strategy at SH Hotels & Resorts, Highgate, Ennismore and luxury brands such as St. Regis and Ritz-Carlton.
Dimension Hospitality announced Ralph Thiergart has rejoined the company as Executive Vice President for Strategy and Chief of Staff. In this role, Thiergart will support Dimension's ownership and leadership team in aligning company initiatives with owner interests. His background includes senior leadership roles in brand management and franchisee support with Choice Hotels, International.
Kolter Hospitality announced the promotions of John Beaton to Executive Vice President of Operations and Sara Martinez to Senior Vice President of Commercial Sales. Prior to this promotion, Beaton was Senior Vice President of Operations. Martinez was previously Vice President of Sales and Marketing.