Sandals Resorts Could Be Sold

The DJIA was down 11 points, Nasdaq was down 59, the S&P 500 fell 12 points and the 10 year treasury yield was down .02 to 4.23%. Lodging stocks were modestly lower. SOND was the only mover of note, down -5% on the day.

Wells Fargo upped their rating on Service Properties Trust to Overweight from Underweight. They upped their price target on SVC to $4 from $2.50.

The Wall Street Journal reported that after years of family infighting, Sandals Resorts International may finally be back on the market. The WSJ said the company could be sold for $6 billion to $7 billion, but it is also possible that it may not accept any bids. The article said Sandals is working with investment bankers on the sale process, which is expected to be the biggest real estate transaction this year. While Adam Stewart is the Executive Chairman following the death of his father, founder Butch Stewart, the founder’s common-law wife, has contested his will and intent while other family members continue to fight over who will get what from the estate.

Aman Group is planning to raise as much as $2 billion from investors to fund the next leg of its global expansion. The company has 23 hotel projects being developed and they are focused on expanding Aman Residences. With the fresh funds, the company hopes to open more Aman properties across the Middle East and Africa. They also want to expand the company’s new Janu line of hotels.

The Moxy by Marriott hotel, located in Intown Atlanta, has about two more stories to rise before topping out. The hotel’s development team of Nexera Capital and Emerge Hospitality Group hopes to finish the project as soon as possible. Designs for the 10-story, 183-room property call for a rooftop lounge, a bar at street level, a speakeasy, and several other gathering spaces around the property.

Premier announced the completion of its latest boutique hotel project: La Concha Key West, an Autograph Collection Hotel. The project was a significant historic conservation project that saw Premier convert the former Crown Plaza La Concha Hotel and reposition the property as the new upscale boutique La Concha Key West. As part of a multi-year $35 million renovation, Premier was commissioned to historically restore and elegantly modernize the La Concha Key West’s lobby, destination bar, three-meal restaurant, café, 160 guestrooms, 14 suites, corridors, public spaces, hotel pool, and façade.

Hilton, in partnership with Extell Development Company, revealed the signing of an agreement for a new Canopy by Hilton hotel in the highly anticipated Deer Valley East Village in Park City, Utah. Set to open in the summer of 2026, Canopy by Hilton at Deer Valley will offer 180 keys, a pool, hot tub, steam room, sauna, fitness center, golf simulator, dedicated ski reception lobby and locker room, meeting and conference spaces, a range of food and beverage options, and two levels of underground parking for 176 vehicles.

Hotel Equities announced a strategic partnership with Pinnacle Hotel Group. Set to take effect on May 1, the collaboration will integrate Pinnacle’s impressive portfolio, including properties from brands like Marriott, Hilton, and IHG, into HE’s robust management platform. The alliance further strengthens both companies’ growth initiatives, building on an existing relationship and paving the way for future expansion in the hospitality industry.

IHG Hotels & Resorts celebrated the opening of a new Holiday Inn Express hotel in St. Albans, Vermont, following a conversion and renovation. The 85-room Holiday Inn Express St. Albans is owned by STAL Hotel LLC and managed by Colwen Hotel Management.

Sonesta International Hotels Corporation announced the opening of Sonesta Essential Hotel Overland Park, an 82-room, upper-midscale hotel located in Overland Park, Kansas.

Shenandoah Development Group is planning to build Manor Town Square, a mixed-use project in Manor, Texas. The development will include a movie theater, several mixed-use residential and retail buildings, a medical district with office buildings, an outdoor event space, and several hotels and townhomes.

Crescent Hotels & Resorts has been selected to manage the NoMo SoHo, a boutique hotel nestled in the heart of Manhattan’s SoHo neighborhood. The property features a curated collection of art, NoMo Kitchen, and SIP HAPPENS.

Three Ducks Hospitality, a new brand by Randall Stone and Elizabeth Bakhash, is set to debut this summer in Westhampton Beach, New York, offering a unique hotel experience blending luxury, design, and local culture. The company is set to open a re-imagined hotel following the transformation of a 70-year-old motel. The new Three Ducks hotel will feature 12 rooms spread across 1.6 acres, divided into three distinctive sections: The Barn, The Gardens, and The Guest House.

Crystal Creek Hospitality announced the grand opening of Mountain Modern Sedona on April 26. Last year, Crystal Creek Hospitality acquired Sedona Real Inn & Suites and began an extensive renovation to transform the property into part of the Mountain Modern brand. Mountain Modern Sedona offers 89 guestrooms, wellness retreats, a pool, a culinary concept, and a community-oriented lobby. This new property in Sedona, Arizona, will be Mountain Modern’s second location, following the debut of the brand’s first property in Jackson Hole, Wyoming.

Urban Cowboy Lodge announced an expansion. The acquisition of the historic Slide Mountain Inn, adjacent to the existing lodge, has paved the way for creating the newly christened "Urban Cowboy Lodge & Resort." This expansion increased the property’s footprint to 120 acres. The resort now boasts 4,000 feet of Esopus Creek frontage, a historic bar, a shuffleboard court, a tennis court, a new pool area, and an arcade. The expansion brings 16 new rooms and two standalone houses to the property for a total of 24 additional beds. New event facilities include a 60-seat private dining room, an 80-person indoor venue, and two outdoor sites for tented events.

Four Seasons, in partnership with The Georgetown Company and Mohari Hospitality, unveiled an exclusive collection of ultra-luxury homes in the heart of Georgetown. Four Seasons Private Residences Washington, DC, offers 64 homes and world-class services and amenities, including a private wellness center featuring a fitness studio, spa treatment rooms, and a 75-foot indoor pool. A private wine cellar and tasting room will also be onsite.

Transwestern Hospitality Group has completed a multimillion-dollar renovation of Hotel Granduca located in Houston, Texas. The transformation included: The Lobby; The Library; Remi and Bar Remi; The Garden Courtyard; and over 5,000 square feet of event venues.

Walker & Dunlop, Inc. arranged a $253 million construction loan to facilitate the development of the Pendry Nashville and Pendry Residences Nashville, a soon-to-be 30-story hotel-condominium tower located in Nashville’s Paseo South Gulch district. The project is expected to break ground immediately, with the opening scheduled for 2027.

In February, Palladium Hotels & Resorts initiated a significant expansion at their Jamaican locations, breaking ground to enhance the Grand Palladium Properties. Additionally, Palladium is set to introduce TRS Hotels, a new adults-only, luxury all-inclusive brand, in Jamaica. The ambitious $20 million project will expand the existing facilities by adding 948 rooms, improving amenities, and incorporating more eco-friendly features.

The Royalton CHIC Barbados, An Autograph Collection All-Inclusive Resort - Adults Only, is officially open for bookings, gearing up for a spectacular debut in Spring 2026. The resort, Blue Diamond Resort’s first in Barbados, will feature 220 suites, nine restaurants, three bars and a dynamic mix of entertainment, wellness and social experiences.

Personnel News

RLJ Lodging Trust announced Sean M. Mahoney, the Company’s Executive Vice President and Chief Financial Officer, will be retiring in May of this year. Mr. Mahoney will continue to serve as the Company’s CFO until his departure in May and will actively support the company’s transition plan. Afterward, he will remain available as an advisor as needed. The company has a succession process underway and will provide an update once it has concluded.

Europe Highlights

IHG Hotels & Resorts is bringing its Hotel Indigo brand to the Balearic Islands for the first time with the opening of Hotel Indigo Menorca. Set to open in summer 2026, the hotel marks IHG’s eighth open and pipeline Hotel Indigo property in Spain. The 75-key conversion property will offer a sea-view restaurant, a bar, and an outdoor pool.