Ace Hotel Has a New CEO
Skift Take
Ace Hotel/Atelier Ace welcomes brand veteran Chris Penn as its CEO, appoints Mostafa Abdella as COO, and elevates Meriem Soliman to Chief Brand Officer.
Morgan Stanley downgraded their rating on IHG Hotels & Resorts to Underweight from Equal Weight. The firm cited valuation for the downgrade as they also upped their target price to 9,600 GBP from 8,700 GBP.
CBRE initiated coverage on Ryman Hospitality with a Buy rating. CBRE gave a price target of $130 on the stock.
Sage Hospitality Group, in partnership with Melville Holdings, announced the transformation of the W New Orleans - French Quarter into Hotel De La Poste - French Quarter, A Renaissance Hotel. Sage will oversee the management of the hotel and restaurant. The property, which underwent a dramatic, multi-million dollar renovation, offers 97 guestrooms and suites, a year-round heated pool, a private courtyard, and a fitness center. The hotel is also home to nearly 5,000 square feet of meeting and event space. Sage Restaurant Concepts will manage the hotel’s signature restaurant.
