AI-Powered Hotel Set to Open This Summer in Las Vegas

The DJIA plunged 650 points, while the Nasdaq was down more than -2.6% or 497 points. The only index that fell more percentage-wise was the Russell 2000. The S&P 500 fell 105 points, but at least mortgage rates will be going down as treasuries have become the safe haven, with the 10-year treasury yield today down another .51 to 4.18%. There was no doubt that the financial markets tanked right after President Trump confirmed that tariffs were indeed going into effect this week. Lodging stocks were lower. SOND was the big loser, down -15%, but it looks like their investors think there is trouble in the going-private transaction for SHCO as the stock dropped -6% and is well below the take-private price again.

Chatham Lodging Trust upped its common dividend by 29%. Their quarterly cash common dividend was raised to $0.09 from $0.07.

A new survey from Atlas Hospitality Group reported that Los Angeles County had the highest number of new hotels that opened among California counties in 2024, with five. It also led to the number of new rooms that opened, with 607, representing a 56% room count decrease from nine hotels and 1,370 rooms that debuted in 2023. Despite the challenges, including a lack of land and the mansion tax, L.A. County still leads the state in terms of hotel developments, with 23 hotels equaling a total of 2,833 rooms under construction, up from 18 hotels and 2,162 rooms under construction in 2023. L.A. County currently has 199 projects with 27,457 rooms in planning, down from 225 hotels and 33,372 rooms in 2023.

Hotelier Atul Patel plans to build a $30 million Tempo by Hilton in the Deep Deuce neighborhood of Oklahoma City. The 140-room Tempo by Hilton is anticipated to open in 2026 with a ground-floor café.

The Marriott Autograph Collection Trilogy hotel, located across from the Von Braun Center, is expected to be completed by late summer. The Huntsville Downtown Redevelopment Authority extended the deadline for the Huntsville, Alabama project to August 31. The $40 million project will have eight floors, more than 200 rooms, a rooftop bar, two full-service restaurants, a Starbucks, and conference/banquet space. Ascent Hospitality is the project developer.

The grand opening of SpringHill Suites in Bettendorf, Iowa, aligns with the debut of the new Iron Tee Golf attraction, an indoor advanced sports facility, and multiple commercial centers near the hotel. The hotel will immediately begin accommodating youth sports teams participating in tournaments at the TBK Bank Sports Complex. Frontier Hospitality Group has a strategic partnership with Plex Travel, which manages lodging for teams competing at the TBK Bank Sports Complex. SpringHill Suites features a versatile meeting space, an indoor pool, a fitness center, and a market. This marks FHG’s third hotel in partnership with Marriott International and its first venture under the SpringHill Suites brand. FHG will host a ribbon-cutting ceremony and grand opening celebration on April 1.

IHG Hotels & Resorts announced the opening of a newly built Candlewood Suites in Perry, Georgia. Owned and managed by Glow Hospitality, the hotel features 90 rooms, 345 square feet of meeting space, an outdoor pool, and a gym.

McKibbon Hospitality plans to build a hotel in Tampa’s Channel District. The developer bought a vacant site at 111 N. Meridian Avenue for $9.3 million. The lot is set to be developed into a 13-story hotel with more than 200 rooms and 13,000 square feet of retail space.

PAI Partners has agreed to buy a majority stake in Motel One, gaining control of a chain with hotels across Europe and the U.S. The private equity firm is taking an 80% stake in the business. With its latest deal, PAI is adding to its stable hospitality assets, which include B&B Hotels, Roompot, and European Camping Group. Motel One operates 99 hotels across 13 countries, including Germany, France, the UK, and the U.S., with about 28,000 rooms. The company also has another brand called The Cloud One Hotels, which has properties in New York, Hamburg, Dusseldorf, Prague, and Gdansk. According to PAI, Motel One’s founder, Dieter Muller, will remain chairman of the company and will further develop a previously spun-off real estate arm.

Tafer Hotels & Resorts announced the grand opening of Palmar Beach Resort & Spa Riviera Maya. Following a multi-million-dollar transformation, the family-friendly, all-inclusive resort features 435 suites, eight restaurants, an extensive Kids’ and Teens’ Club, five outdoor pools, six bars, and the Kaab Spa.

The Otonomus Hotel, heralded as the world’s first AI-powered hotel, is set to open in the summer of 2025 in Las Vegas, Nevada. The innovative 303-suite property will begin accepting reservations through its website on March 3, 2025. The property features event space, Smart Luggage storage lockers, an O-Bar, check-in kiosks, two pools, four restaurants, and multiple culinary offerings. This property marks the first resort debut within the Growth Holdings portfolio.

After months of renovations, the Rochambeau Roadside Inn is now open in Williamsburg, Virginia. Lyle Schiavone, the owner of Two Rivers Acquisitions LLC, bought the property in January 2024 and operates the motel with his sister. Upgrades to the 22-room property were made possible due to a revenue-sharing incentive from the City of Williamsburg.

Hunter Hotel Advisors announced the sale of the Homewood Suites by Hilton Chattanooga-Hamilton Place, located in Hamilton County, Tennessee. The property was acquired in a joint venture by Pulse Hospitality and MD Hospitality from an institutional seller. The 76-key hotel features an outdoor pool and a fitness center.

AVANA Companies announced the closure of a $12.5 million hotel project in College Park, Georgia, in partnership with Oaktree Capital Management. This second deal under the $250 million AVANA-Oaktree Private Credit Partnershiphad provided funding for the refinancing and property improvement of a Spark by Hilton hotel owned by HKH LLC. The new hotel project has been positioned near Hartsfield-Jackson Atlanta International Airport.

Casa Carolina, a new lifestyle hotel in the historic Walled City of Cartagena, Colombia, is now open. Casa Carolina features 3 suites and 12 elegant rooms, two outdoor pools, ancestral and Ayurvedic spa rituals, Just B Wellness Café, and a rooftop terrace.

Europe Highlights

HR Group has completed the acquisition of H-Hotels, a privately managed hotel company. Through this acquisition, the company substantially augments its existing collection of properties by approximately 33%. HR Group plans to further develop the H-Hotels brand while ensuring the hotels continue to operate under their established name. With its head office in Bad Arolsen, Hesse, H-Hotels operates various brands such as Hyperion Hotels, H4 Hotels, H2 Hotels, H+ Hotels, H.ostels, and H.omes. It has more than 60 properties across Germany, Austria, Switzerland, France, and Hungary.

Fairmont Hotels & Resorts, in partnership with Millenium Hospitality Real Estate and Odyssey Hotel Group, announced the opening of Fairmont La Hacienda Costa del Sol located in Cadiz, Spain. The resort features 311 rooms, suites, and private villas; five distinct dining venues; a spa; two renowned golf courses; and elegant event spaces, including a grand ballroom and expansive outdoor venues.

One year after acquiring the Palace de Neiges in Courchevel, France, Monte-Carlo Societe des Bains de Mer Group revealed the name of its ambitious hotel project: Monte Carlo One - Courchevel. This is the first variant of its new international brand, Monte-Carlo One - Hotel & Residences. Monte-Carlo One - Courchevel is slated to open in time for the 2026-2027 winter season.