Wyndham Says It Sees No Signs of Distress
The DJIA fell another 12 points, but Nasdaq rallied 151 while the S&P 500 rose 21 points, and the 10-year treasury yield was down .09 to 4.16%. Lodging stocks were mixed with relief finally from the new lows list. CLDT and VAC made that list today but the others that have been on there the past few trading sessions avoided it, at least for today.
Truist hosted management meetings with DiamondRock Hospitality. The one main takeaway was that DRH acknowledged some softness in business but is not seeing any significant weakness. DRH recently sent shareholders a letter and Truist said they could not think of any investor meetings they ever had when an annual shareholder letter was more frequently mentioned and more positively received by investors. The letter highlighted free cash flow growth and yield, a big change from the typical REIT prioritizing investment theme over financial performance.
Truist also reported on meetings they held with Wyndham Hotels with WH management also saying they are seeing no signs of distress in the business with stability in ADR and no change to bookings window or length of stay. Management reminded everyone that they are a franchise company so they are not as sensitive to RevPAR swings and the economy hotel segment is helped by overall negative industry-wide supply growth. They also reminded everyone how well their brands performed during Covid.
Lodging Dynamics Hospitality Group announced the upcoming conversion of Park City Peaks Hotel into Hotel Thaynes, a Tribute Portfolio Hotel. Set to be completed in October 2025, the comprehensive renovation will transform the property, seamlessly blending common areas, guestrooms, and other spaces with the Tribute Portfolio’s signature warm and eclectic design. A highlight of the transformation is Versante Hearth + Bar, the hotel’s on-site restaurant, which will continue to be an integral part of the property. In addition to its new design, Hotel Thaynes will offer a variety of year-round amenities, including an indoor pool and expanded sauna, heated outdoor pool and hot tub, fitness center and steam room, fire pits, and an outdoor BBQ area. The hotel will remain open during the renovation.
Autograph Collection expands into new destinations in Mexico with the arrival of Clevia, San Miguel de Allende. The new property, which also marks the first Marriott Bonvoy hotel to open in San Miguel de Allende, joins the Autograph Collection brand. The property features 74 rooms and 42 residences that converge around a central courtyard featuring an infinity pool, a signature restaurant, and two event halls.
IHG Hotels & Resorts, in partnership with owner Coralville Hotel Associates, L.C. and management company Kinseth Hospitality Companies, market the opening of the newly converted Holiday Inn Coralville Iowa City. The hotel offers 95 guestrooms, 6,500 square feet of meeting and event space, a heated indoor pool, a fitness center, and an on-site restaurant.
American Financial Group, Inc. announced a wholly-owned subsidiary of AFG has reached agreements to sell the hotel and related assets and the marina comprising Charleston Harbor Resort & Marina, a premier resort property and marina located in Charleston, South Carolina. The transaction is expected to close in the second or third quarter of 2025. Charleston Harbor includes two full-service hotels, a 459-slip marina, restaurant, retail store, and other resort amenities.
Boulder, Colorado’s iconic Hotel Boulderado has a new majority stakeholder after more than 40 years under the same ownership, with interior renovations and a rebrand planned. AJ Capital Partners acquired a majority stake, for an undisclosed price, in the 119-room hotel from longtime owners Frank and Gina Day. Work on the hotel will include redesigned guestrooms, refreshed public spaces, and curated food and beverage offerings. A phased renovation of the hotel will start later this year and will remain open during the renovation work, which is anticipated to be completed in the spring of 2026. Once renovations are completed, Hotel Boulderado will join the Graduate by Hilton collection. The five-story hotel will retain its name.
Wychmere Harbor Real Estate LLC has withdrawn plans to build an 80-room hotel at the storied beach and tennis club on Wychmere Harbor in Harwich, Massachusetts. According to the company’s attorney, who sent letters to the Town of Harwich and the Cape Cod Commission asking that redevelopment plans be withdrawn without prejudice, Wychmere Harbor Real Estate LLC will not be proceeding with the redevelopment as previously submitted and will be exploring alternatives. Withdrawn without prejudice means the company can resubmit plans in the future.
My Place Hotels of America announced the opening of My Place Hotel-Savannah Airport/Pooler, GA. The hotel is owned by TGC Group, which also developed and manages the property. This is the first of two properties from the brand scheduled to open in Georgia this year, bringing the total in the state to three. My Place Hotel-Savannah Airport/Pooler, GA offers 64 guestrooms, a market, onsite laundry, and free parking.
Madison Newbond, the institutional lending platform of Madison Realty Capital and Newbond Holdings has originated a $43 million senior mortgage loan to a joint-venture partnership between Certares Real Estate Management and Monomoy Property Ventures for the Ashore Resort & Beach Club, a newly-renovated 250-key oceanfront property in Ocean City, Maryland. Ashore contains 250 newly renovated guestrooms, including 15 suites, an outdoor pool, a fitness center, food and beverage offerings, and 34,600 square feet of indoor meeting and event space.
Summit Hotel Properties announced it successfully closed on a new $275 million senior unsecured term loan with the proceeds to be used to repay the majority of the company’s outstanding $287.5 million 1.50% Convertible Senior Notes maturing in February 2026. As a result of the refinancing, INN’s average length to maturity will increase to nearly four years on a pro forma basis, and they have no significant debt maturities until 2027.
InterContinental Hotels & Resorts introduces InterContinental Presidente Monterrey in alliance with Grupo Presidente. Located in Monterrey’s San Pedro Garza García neighborhood, the hotel offers 293 guestrooms, including 25 expansive suites, three dining destinations, Ikal Spa, a fitness center, a business center, and 1,600 square meters of versatile meeting and event spaces across two floors.
Personnel News
Starwood Capital Group announced Jonathan Pollack officially joined the firm as its President effective today. Pollack will work with Chairman and CEO Barry Sternlicht and the rest of Starwood Capital’s senior leadership team to guide the firm into the next stage of its growth. Prior to joining Starwood Capital, Pollack most recently worked at Blackstone Group, where he served as Global Head of the firm’s Real Estate Credit business.
Island Hospitality Management announced that Mark George has been named Senior Vice President of Commercial Strategy. In his new role, he will leverage his extensive experience to further strengthen and expand the company’s commercial initiatives, driving both short-term and long-term success for the company. George most recently served as the company’s Senior Vice President of Sales.
Belmond has appointed Tiago Sarmento as Area Managing Director, Mexico, effective immediately. In his new role, Sarmento will take on leadership of the Belmond business in the strategically important Mexico market, having oversight of Maroma, A Belmond Hotel, Riviera Maya; Casa De Sierra Nevada, a Belmond Hotel, San Miguel De Allende, and any future Belmond projects in Mexico. Before joining Belmond, Sarmento worked at several high-profile hotels and resorts.
Europe Highlights
Marriott International, Inc. announced plans to double the portfolio of its affordable midscale brand, Four Points Flex by Sheraton, across Europe by the end of 2026. With plans to reach over 50 open properties in the region within the next two years, Four Points Flex by Sheraton currently represents the company’s fastest-growing brand in Europe. Expected growth highlights for the brand by the end of 2026 include: Brand debut in Austria with two anticipated openings. Launch in France with the planned opening of Four Points Flex by Sheraton Lourdes Sanctuaire. Planned addition of seven Four Points Flex by Sheraton in Germany. Expansion in Italy with planned openings in Parma, Bologna, and Rimini. Continued growth in the United Kingdom, with four anticipated openings, including additions in Edinburgh and Brighton. Continued growth in Turkiye, with three planned openings. Anticipated opening of Four Points Flex by Sheraton Copenhagen Glostrup in Denmark. In addition to Four Points Flex by Sheraton, the company features two other dynamic midscale brands: City Express by Marriott in Caribbean and Latin America as well as the U.S. and Canada, and Studio Res, an upcoming extended-stay brand expected to debut in the U.S. and Canada this year.
Accor reviewed its record development activities in 2024 and unveiled its growth prospects for 2025. Specifically, in 2024, Accor opened 293 hotels and resorts, adding 50,000 rooms to its portfolio. Its global network now includes more than 5,680 hotels and 850,000 rooms in operations, plus 1,381 planned openings (233,000 rooms). For 2025, Accor will focus on innovation and expansion of its network, with major openings and targeted development in Asia, Africa, and the Middle East. Accor continues to strengthen its Premium, Midscale & Economy Division with a targeted approach to growth, focused on iconic brands such as Pullman, Novotel, and ibis, and expansion opportunities in sought-after destinations. With Mercure reaching the 1,000 milestone in 2024, upcoming 2025 breakthroughs include ibis opening in its 80th country and ibis Styles surpassing the 700-hotel mark. Accor’s TRIBE brand launched new locations with a total of 20 hotels open and another 40 in the pipeline. Handwritten Collection is another Accor brand that has quickly gained traction and has an ambitious global growth trajectory. With over 25 hotels already in operation worldwide, including leading cities such as Paris, Krakow, San Francisco, Sydney, and Singapore, the brand will see its European footprint grow substantially with more than 10 hotels expected to come online over the coming months. Accor’s luxury portfolio, which has grown in both volume and value, continues to expand in key markets and highly coveted destinations. On the lifestyle front, Ennismore represents the Group’s presence in this rapidly growing category. Mexico and the Caribbean are also key markets for the Group’s development of resort and all-inclusive offerings. The Group also witnessed a high pace of conversion across its L&L Division, driven by collection icons MGallery and Emblems, with 55+ hotels sitting collectively across their development pipelines. Finally, one of the travel industry’s most anticipated 2025 events is the re-launch of the legendary Orient Express, a centenary brand with deep cultural significance. This represents a significant milestone, with the first trains set to embark in April 2025.
IHG Hotels & Resorts announced the signing of its first Ruby Hotels properties since the acquisition of the brand in February 2025. A brand-first for Berlin, the 375-room Ruby Hotel is expected to open in early 2028, developed in partnership with Empira Group and operated by The Ruby Group. Marking the brand’s Danish debut, the signed Ruby Hotel in Copenhagen brings 219 guestrooms and is set to open in early 2027 in development partnership with ECE and under the operation of The Ruby Group