U.S. Hotels Aim to Tap Into the Surge in Indian Tourists

The DJIA fell 111 points but Nasdaq was up 247, the S&P 500 rose 23 points, and the 10-year treasury yield was flat at 4.40%. Lodging stocks were modestly lower. WH and SHO both traded up to new highs again, while SVC traded down to another new low. VCSA was down -6% on the day.

Truist held its 12th annual Gaming, Lodging, Leisure, and Restaurantsconference last week. Truist said several lodging companies were encouraged by what they described as a “Trump bump” to demand right after the election. Truist believes some of the bookings were due to relief the results were decided quickly and there was not going to be an extended period of uncertainty. They believe there will be a modest upside to hotel RevPAR in 4Q versus company and consensus expectations.

U.S. hotels and travel companies are aiming to tap into a surge in Indian tourists to boost revenue as domestic leisure spending falters and demand from East Asia countries remains below pre-pandemic levels. Nearly 1.9 million Indian tourists visited the U.S. in the first 10 months of 2024, a nearly 48% rise from 2019, according to data from the U.S. National Trade and Tourism Office. In contrast, visitor volumes from China, Japan, and South Korea dropped 44.5%, 50.8%, and 23.9% during the same period, compared with 2019 levels. Wealthy consumers from East Asian countries such as China have been traveling more within the region, especially to destinations in Southeast Asia, avoiding long-haul trips to the United States. European tourists have been returning to the U.S., but visitation from countries such as the UK, Germany, and France has remained below 2019 levels.

Homewood Suites by Hilton opened in Holland, Michigan, in late November. The four-story hotel features 123 suites, a lobby bar, an indoor pool, a fitness center, an outdoor grill and family dining area, walking trails, fire pits, lockers, and six electric vehicle charging stations. The $20 million Homewood Suites is owned by South Point Real Estate and managed by Hospitality Specialists, Inc.

The Ann Savannah, Apartments by Marriott Bonvoy is set to open in early 2025 in the Historic District of Savannah, Georgia. According to Ehotelier, the 157-unit property will offer an onsite restaurant, a fitness center, and a pool.

The Southlake City Council approved a zoning change in a site plan for The Elmore by Marriott. The hotel has been named The Southlake Hotel since February 1 and was Cambria Hotel Southlake prior to that. The hotel will modify the exterior building color and will add a screening structure at entry as part of a renovation. The existing dining area will be transformed into Abby Social Restaurant. A $950,000 renovation on the main lobby, outdoor space, and rooms started in August and has an estimated completion date of August 25, 2025, according to a filing with the Texas Department of Licensing and Regulation. When completed, the hotel will be a Tribute Portfolio Collection hotel with Marriott, according to NewcrestImage. The property is managed by Coury Hospitality. Opening summer of 2025, The Elmore by Marriott offers 175 guestrooms, an outdoor pool and game area, a fitness center, a business center, a convenience store, and a casual lounge.

Aspen Hospitality announced it will open Limelight Boulder in Colorado in August 2025. The firm will own and operate the 250-room hotel, which will house a ground-floor restaurant and an outdoor plaza. The hotel’s conference facilities will offer a 15,000-square-foot ballroom, along with another 10,000 square feet of meeting space, including an event lawn and a second-story deck.

HREC Investment Advisors has arranged the sale of the 84-room Extended Stay America San Antonio - Colonnade - Medical Center located in San Antonio, Texas, and the 147-room Extended Stay America Dallas - DFW Airport Northlocated in Irving, Texas. HREC Investment Advisors exclusively represented the seller on these separate transactions.

The Loren Group secured fresh financing for its 108-room boutique hotel at Lady Bird Lake in Austin, Texas. Southern Realty Trust provided the $57 million loan to The Loren at Lady Bird Lake. The loan consists of $25 million funded by Southern Realty Trust and $32 million from Sunrise Realty Trust. Both entities are affiliates of TCG Real Estate. The Loren is part of a mixed-use development that includes 24 condo units, a coffee shop, and a rooftop restaurant. The hotel property also includes the historic Paggi House, which is now open to the public as an art gallery and event space.

Personnel Moves

On December 10, 2024, Michael W. Duffy notified Hilton Worldwide Holdings Inc.of his resignation as Senior Vice President, Chief Accounting and Risk Officer, effective February 7, 2025, to pursue an opportunity outside of the company. Mr. Duffy will continue to serve as the company’s principal accounting officer through the date of his departure. Upon Mr. Duffy’s departure, Misha Moylan will assume the responsibilities of the company’s principal accounting officer in the role of Senior Vice President and Chief Accounting Officer. Moylan has been with the company since 2010 and is currently Senior Vice President, Internal Audit, and Enterprise Risk Management.

Europe Highlights

KE Hotels has expanded its UK portfolio by taking on the management of three Hampton by Hilton properties through new Hotel Management Agreements. The properties are Hampton by Hilton Newcastle, Hampton by Hilton Birmingham Broad Street, and Hampton by Hilton Sheffield. The agreements mark the company’s entry into managing Hampton by Hilton hotels in the UK. KE Hotels will oversee operations at the properties, working in partnership with the hotels’ owners.

IHG Hotels and Resorts has added the first property under its voco brand in the UK capital. RBH Hospitality Management has been appointed to manage voco London Marylebone, previously Signature London, J Marylebone Hotel.

Hyatt Hotels Corporation announced a Hyatt affiliate has entered into a franchise agreement with a subsidiary of Lindner Hotel Group for the Me and All Hotel Flims. Nestled in the Grisons Alps, Me and All Hotel Flims is the brand’s first property outside Germany and the first to open since Me and All Hotels became a standalone brand within Hyatt’s global Lifestyle portfolio. Me and All Hotel Flims will be the fifth Hyatt-branded hotel in Switzerland and spans 73 keys split between 47 guestrooms and 26 apartments. The hotel will feature spacious culinary concepts, a spa and fitness area, and flexible meeting and conference spaces, including 1,442 square feet of dedicated meeting rooms and multi-functional screening rooms.

Accor announced plans to expand its ibis family of brands in Germany, with five new hotel openings slated for 2025. Two of the new ibis hotels are set to debut near Berlin Brandenburg Airport in spring 2025. The ibis and ibis budget properties each feature 114 rooms and will share common areas such as a lobby, reception, and café. In mid-2025, ibis Styles Munich Airport will open with 358 guestrooms. Additional openings include the 97-room ibis Styles Neckarsulm, scheduled for a spring 2025 launch, and by mid-2025, the 403-room ibis Styles Hamburg HafenCity.

Millennium Hospitality has chosen Savills to sell its luxury mega-resort in Sotogrande Andalusia, Spain for $200M. The future Fairmont La Hacienda project was expected to have opened its doors last Easter, but it is still under construction. It has a 153-room hotel, 51 branded residences, and the La Hacienda golf club, which has two courses with a total of 36 holes. The complex will also have five restaurants, a bar, an exclusive beach club, pools, a spa, and large common areas.

The Budock Vean Hotel has changed hands after being acquired by Philema Hospitality Management. The 50-room hotel near Mawnan Smith, Falmouth, which comes with a spa, its own golf course, a restaurant, and 46 acres of gardens and woodland, had been on the market for £6.5m. New owners Philema plan to preserve the hotel’s legacy while enhancing offerings and furthering sustainable practices across all aspects of the guest experience.