Canadian Hotels' Record High Revenues and Daily Rates

The DJIA rose 4 points, Nasdaq was up 83, the S&P 500 was up 9 points, the 10-year treasury yield was down .02 to 4.31%, but lodging stocks were lower. SOHO traded down to another new low and it is well below $1 a share so we aren’t even going to mention it until it either trades up to $1, does the reverse split it needs to be delisted or just fades away. BHR and SHCO had a rough day, both down -6% today.

According to data from CoStar, Canada’s hotel industry recorded its highest ADR and RevPAR in February 2025. The ADR for February was CAD189.27, a 4.2% increase from the previous year. Simultaneously, the RevPAR stood at CAD109.14, marking a 3.7% rise. However, the occupancy rate was slightly lower at 57.7%, a 0.5% decrease from 2024. British Columbia reported the highest occupancy among Canadian provinces and territories at 62.3%, slightly lower than in 2024. Vancouver claimed the top spot among the major markets with an occupancy rate of 71.5%, though down 2.8% from the previous year. Prince Edward Island noted the lowest occupancy among provinces at 36.5%, a 5.5% drop from 2024, while Edmonton reported the lowest market-level occupancy, declining 1.2% to 52.6%.

The Ritz-Carlton Key Biscayne, Miami will temporarily close beginning this May for a major renovation, pausing all operations, including its restaurants and bars, until at least December 15, 2025. Gencom, the property’s owner, is leading the overhaul, according to Miami Herald. The extensive renovation is expected to modernize guestrooms, public spaces, and dining areas.

Hilton announced the signing of a branding and management agreement with Wine Country Hospitality Partners LLC, a partnership between Mark Harmon, Robert Radovan, and Tim Sparapani, for the newly built Waldorf Texas Hill Country and Waldorf Astoria Residences Texas Hill Country. This will mark the debut of the Waldorf brand in the Lone Star State. The luxury resort is expected to open in 2027 and will be managed by Hilton. The property will include 60 hotel guest rooms and suites, 37 branded multi-bedroom resort villas eligible to participate in a hotel rental program as 74 additional keys, and 50 branded private residences. The resort will include five food and beverage concepts, an 11,000-square-foot spa and fitness center, two resort-style pools, and more.

Extended Stay America announced the opening of the 50th Extended Stay America Premier Suites hotel in Schertz, Texas. Developed by Provident Realty Advisors, the newly constructed, three-story Extended Stay America Premier Suites San Antonio - Schertz features 115 guestrooms, a fitness center, and an onsite guest laundry. In addition to the Schertz property, Provident Realty Advisors has broken ground on new Premier Suites hotels in Kyle and Temple, Texas.

3H Group, Inc. received approval from the city of Jacksonville, Florida, to construct a $9.85 million, four-story, 122-room Hyatt Studios at 11565 Village Crossing Drive.

The 94-room Staybridge Suites in Lewes, Delaware, is now open. IHG Hotels renovated the four-story hotel, formerly the Heritage Inn, from top to bottom. The Lewes Staybridge Suites is IHG’s 11th Delaware hotel and features an outdoor pool and deck area with seating, grills, and a fire pit, a gym, and a 60-person meeting room.

Opal Collection announced the opening of Cirque St. Armands Beachside, a circus-chic boutique hotel in Sarasota, Florida. The opening gives Opal Collection a total of 28 hotels and resorts, 22 of which are in Florida. Cirque St. Armands Beachside offers 135 accommodations, multiple dining venues, a pool, a fitness center, and a 300-foot private stretch of Lido Beach.

New Glarus Hotel Group, LLC has launched a $7 million renovation project to restore the New Glarus Hotel & Restaurant located in New Glarus, Wisconsin. The 172-year-old building was officially added to the State Register of Historic Places earlier this month. Plans for the building include renovating the historic Sunken Bar and the Yodel Room, which serves traditional supper club fare. The developers are also redoing the upstairs of the building to create eight rooms for guests. The New Glarus Hotel Group hopes to welcome guests in early 2026 with the possibility of phased openings sooner.

Hotel Vin, located in Grapevine, Texas, is planning a massive expansion. According to owner Coury Hospitality, the project will double the hotel’s guest accommodations, raising the total to 240 rooms, and an outdoor pool and event space will also be added to the property. Ground is expected to break on the project later this year. Hotel Vin is part of Marriott’s Autograph Collection and is part of Grapevine Main, a $114 million mixed-use development.

Vacatia Inc. announced that six new resorts have engaged its management services over the past three months. The newly added properties include Boutique Timeshare Management at Winners Circle Resort, Solana Beach, California; Lehigh Resort Club, Lehigh Acres; The Maverick Resort, Ormand Beach; and The Reef at Marathon in Marathon, all in Florida. Cold Spring Resort, Ashland, New Hampshire, and Neptune House, Block Island, Rhode Island. These resorts chose Vacatia for its ability to provide boards and resort teams with customized services to meet their specific needs while also providing exceptional owner and guest services, preserving each resort’s unique community and character. The expansion follows Vacatia’s acquisition of The Berkley Group and Daily Management in January 2025.

HVS has secured an agreement with Broward County to become the Asset Manager for the Omni Fort Lauderdale Hotel. The 801-room property is set to open in September 2025 and will serve as the headquarters hotel for the adjoining Broward County Convention Center. The property will feature 120,000 square feet of meeting space, an outdoor pool deck, retail outlets, six dining outlets, and Mokara, the brand‘s signature spa.

HREC Investment Advisors arranged the sale of the 149-room Sonesta Select - Minneapolis Eden Prairie, located in Eden Prairie, Minnesota. The property was acquired by Eden Hotels LLC. HREC Investment Advisors exclusively represented an affiliate of Service Properties Trust as the seller in this transaction.

The Waldorf Astoria Costa Rica Punta Cacique will begin welcoming guests on April 22, 2025. The property boasts 148 guestrooms and 40 suites; six restaurants, including the signature Peacock Alley Bar; a kids’ center and a teen club. In addition, the Waldorf Astoria Spa offers multi-level pools, a fitness center, and an indoor-outdoor yoga studio.

Marriott International, Inc. signed an agreement with Mullen Real Estate Capital to bring the JW Marriott brand to the shores of Costa Elena, an exclusive resort-residential community located in Guanacaste, Costa Rica. The hotel is expected to be one of the first JW Marriott all-inclusive resorts to open globally. The resort will offer 415 guestrooms, 11 diverse food and beverage outlets, and 44,000 square feet of water amenities, including 17 pools, 10,000 square feet of meeting space, a spa, and a fitness center.

Secrets Baby Beach Aruba is set to open in June 2025 in San Nicolas, Aruba. The new adults-only, all-inclusive resort will feature 304 suites, gourmet dining, live entertainment and tailored experiences.

Personnel News

Dreamscape Hospitality announced the appointment of Christy Jernigan as Vice President of Feasibility. In her new role, Jernigan will support Dreamscape’s strategic growth strategy. Most recently, she held the position of Chief Development Officer at Brittain Resorts & Hotels. Additionally, she spent 17 years with Aimbridge Hospitality in various capacities.

Europe Highlights

IHG Hotels & Resorts is set to debut Costa Irminia Retreat & Spa, Vignette Collection, marking the second Vignette Collection hotel in Italy and the first in Sicily. The move marks IHG’s first partnership with Blu Lava Resorts. Panoram Hotels will manage the 43-room hotel, which is set to open later this year, featuring a private beach club, two pools, a bar, and an all-day dining restauran