Universal Studios Is Rolling Out New Hotels in Orlando and L.A.

Holiday Schedule: The final Daily Lodging Report for 2024 will be on Tuesday, December 24th. The first DLR of 2025 will be January 2, 2025. We wish you all a happy and healthy holiday season.

The DJIA was up 390 points, Nasdaq was up 266, the S&P 500 was up 66 points in the short session for Christmas Eve. The 10-year treasury yield was down .02 to 4.58%. Lodging stocks were modestly higher. The two takeover stocks were lower, with SHCO losing most of yesterday’s gain, back down -4% and more than 20% off the $9 supposed take-private price. PLYA was down -1% on the day.

Matrix Hotels expects its next hospitality project near Exit 19 in Queensbury, New York, to cost about $20 million, according to documents submitted to the Warren-Washington Industrial Development Agency. The company plans to build a 110-room TownePlace Suites by Marriott hotel at 528 Aviation Road, adjacent to another Matrix hotel property. The developer expects to secure a $15 million mortgage to help finance the project, but the financing hasn’t yet been finalized. A tentative timeline for the Queensbury project calls for construction to begin in April and wrap up by May 2026.
 
An evolving mixed-use project in Austin, Texas, previously called Velocity, has a new name, entertainment district, and housing. Now called The Row, the 314-acre mixed-use community is spearheaded by Presidium. The project’s next phase will feature a free-standing restaurant site and an additional 22,000 square feet of retail space. Shortly thereafter, phase three will feature an additional 100,000 square feet of retail, an AC Hotel by Marriott in partnership with Merritt Development Group, and a second 300+ unit multifamily project. Within that space, there’s room for a mix of local and national retailers, restaurants, and entertainment-oriented concepts. Once complete, The Row will add thousands of homes, retail space, hotels, and about 100 acres of green space to Southeast Austin.
 
IHG Hotels & Resorts recently opened a newly rebranded and converted Holiday Inn Express & Suites hotel in Matteson, Illinois. The 84-room Holiday Inn Express & Suites Chicago Matteson is owned by Asvini Hospitality LLC and managed by Hotel Management Solutions.
 
Universal Studios Hollywood has been undergoing a large transformation as part of their Universal Evolution Plan. The plan includes additions to the existing studio, theme park, retail, and entertainment uses, including CityWalk, and the introduction of new hotels on approximately 391 acres in the Universal City area. One of the proposed hotels will be a 500-room hotel, which will be built just outside the entrance to Universal Studios Hollywood, according to KTLA. The new 11-story hotel is also known as Universal’s Project 515. Across the country in Florida, the Universal Orlando Resort is gearing up for the opening of Epic Universe on May 22, 2025. In addition to the brand-new theme park, Universal Orlando will open three new hotels: Universal Stella Nova, Universal Terra Luna, and Universal Helios Grand Hotel.
 
The Tohono O’odham Gaming Enterprise has opened its fifth Arizona casino in Glendale, called Desert Diamond Casino White Tanks at San Lucy, and is already planning additional amenities for guests. The $450 million casino features 990 slot machines, a poker room, a sports book, and table games across 184,000 square feet. The casino offers a variety of restaurants and retail and entertainment stages. Following the opening of its casino, the tribe is now in the planning stages for two large hotels at both its West Valley locations. The hotels will include conference space, spas, additional restaurants, and retail as part of the second phase of both of the Glendale casinos. These will include a 19-story hotel featuring 450 rooms with 30,000 square feet of conference space, a spa and pools, a rooftop restaurant, and more. The hotel will also be located at the first Desert Diamond Casino West Valley location in Glendale. A second, 16-story hotel with 350 rooms is planned for the White Tanks casino and will also include amenities similar to those of other hotels, including 65,000 square feet of additional conference space.
 
Plans for a 149-room hotel at the site of a former bank and office building in Stamford, Connecticut, include a two-story addition, rooftop amenities, an upscale restaurant, 1,500 square feet of meeting space, and onsite parking for 140 cars. The potential operator of the hotel has not been named. 
 

The Retreat Costa Rica has embarked on an ambitious $3 million expansion, adding 26,500 square feet encompassing a clubhouse, three restaurants, and 10 luxury lofts, all poised for completion late April 2025.

Europe Highlights

BWH Hotels has expanded its portfolio with the addition of a new mountain resort in the heart of Black Forest National Park. The Wellness & National Park Hotel Schliffkopf, situated in Baiersbronn, Germany, has officially become part of the BW Signature Collection by Best Western. The hotel is operated by ELOS Hospitality GmbH and features 68 rooms and suites, an expansive wellness area complete with both indoor and outdoor pools, multiple saunas, a mountain spa and a fitness center, multiple culinary options, and a unique conference room.

Convivio has purchased the 429-room Iberostar Las Dalias hotel, located in Tenerife, for 81 million euros.

Prima Asset Management has partnered with The Schwartz Family Company to accelerate its real estate expansion in London. Schwartz Family Company will serve as a key investor in Prima’s London Paddington Hotel redevelopment project and possibly other future ventures. This strategic collaboration marks a significant step in Prima’s UK expansion, bolstered by Schwartz Family Co’s extensive portfolio of 15 hotels and over 4,300 rooms across Australia.
 
The group that owns the only Hilton hotel in North Wales is going into administration with a pre-pack sale lined up. The Hilton Garden Inn Snowdoniaopened back in 2021 next to the surf lagoon at Adventure Park Snowdonia Dolgarrog in Conwy, UK. The hotel and surf lagoon have been backed by £8m of Welsh Government funding alongside millions of pounds of investment by the Ainscough family. Surfing came to an end in the summer of 2023 after a series of mechanical failures, but the hotel continued to operate, and adventure giant Zip World came in this summer as a tenant to reopen the indoor activities in the buildings across the lagoon from the hotel. It is understood the hotel, owned by Snowdonia Hotel Ltd, went up for sale last month. According to North Wales Live, Snowdonia Hotel filed a Notice of Intention to Appoint Administrators earlier this month. It is expected that an administrator will be appointed today. It is understood it will no longer trade under the Hilton brand.
 
Hotel Calimala announced the opening of its Milan outpost in January 2025 in the historic Porta Venezia district. The property offers 88 rooms, a two-story rooftop restaurant and pool, and a ground-floor espresso bar.
 
Meininger Hotels is expanding its presence in France with a new hotel development in Strasbourg, marking its fifth location in the country. The existing Europcar building, owned by Credit Agricole Alsace Vosges and Banque des Territories, will be demolished for the new structure. Set to open in 2027, the upcoming development project will cover almost 4,000 square meters across eight floors. The ground floor will still accommodate a Europcar branch alongside the new 114-room Meininger Hotel Strasbourg.