Marriott Opens Its First Mexican All-Inclusive Luxury Hotel

The DJIA plunged 606 points while Nasdaq was down 66, the S&P 500 fell 39 points, and the 10-year treasury yield was up .04 to 4.48%. Lodging stocks were lower, pretty much across the board. CLDT and SVC both traded down to new 52 week lows while VCSA was down -6% on the day.

Pricewaterhouse Coopers reduced its projections for ADR and RevPAR growth in its US Hospitality Directions: May 2024 report. PwC now expects 1.2% growth in ADR and 2.2% RevPAR growth, down from 2.4% and 2.7% respectively back when they issued their November report.

All-Inclusive by Marriott Bonvoy announced the first all-inclusive luxury resort for the company in Mexico, Almare, A Luxury Collection Adult All-Inclusive Resort, Isla Mujeres is now accepting bookings for stays starting November 15, 2024. The resort will offer 109 suites, seven restaurants and bars, and its world-class spa Alma including a fitness center, salt room, a full salon and a hydrotherapy pool.

Home2 Suites by Hilton Huntsville/Research Park Area and Hampton Inn & Suites Huntsville/Research Park Area have completed significant upgrades to their guestrooms and facilities. Located in Huntsville, Alabama, the hotels are owned by Apple Hospitality REIT, Inc. and managed by LBA Hospitality. 

Peachtree Group is planning a Hilton-branded hotel in downtown Indianapolis, Indiana. The 10-story, 167-room Tempo by Hilton will feature a café, a bar, private meeting rooms, and a fitness center. 

Exterior construction on a new development in Comstock Township, Michigan has been underway for months. The four-story property will be a dual-branded hotel featuring a 63-room Tru by Hilton and a 73-room Home2 Suites. The project is a $12 million+ investment by Ontario Hospitality, Inc.

Omni Hotels Corporation is expected to begin development of a new headquarters hotel in New Orleans, Louisiana. Located across the street from the Convention Center, the current plans indicate it will stand 25 stories tall with nearly 1,000 guestrooms. Convention center leaders will be paying about $192 million for the site of the hotel, with the hotel itself projected to cost about $565 million. Omni Hotels Corporation plans to fund about $500 million of the projects, with the rest coming from the taxpayers. 

Lion Star, Everest Place and Paramount unveiled their partnership to bring to life the Nickelodeon Hotels & Resorts Orlando in Kissimmee, Florida. Slated to open in 2025, the resort will be located in the Everest Place development and operated by Lion Star Hospitality Inc., the exclusive U.S. licensee for Karisma Hotels & Resorts. Nickelodeon Hotels & Resorts Orlando will feature over 400 rooms and condo units, multiple dining options, Aqua Nick waterpark, Club Nick, Nick retail shops, and character meet and greets. Owners will have access to all resort amenities. 

The SeaLoft Oceanfront Hotel reopens on May 23, in Ocean City, Maryland, following a multi-million dollar renovation, offering a taste of retro accommodations. 

A developer has proposed building two new hotel towers between two of Orlando, Florida’s major sports venues. The proposed hotels would collectively offer 400 rooms, with Kelley Tower standing at 38 stories and Parramore Tribute Tower reaching 29 stories. However, Orlando city staff have recommended that the Municipal Planning Board vote against the project. 

The Comfort Inn in Latham, New York, will undergo a $4 million-plus renovation this year that includes numerous improvements, upgraded services and a new name. The 126-room hotel will become The Clocktower Hotel at Century House, according to Sunrise Management & Consulting, which bought the property last year. The investment is meant to transform the budget hotel into a higher-end brand that is part of Choice Hotel International’s Ascend Hotel Collection and aligned with the guest experience at the adjacent The Inn at Century House. The conversion to The Clocktower Hotel at Century House includes renovations to all rooms and amenities. Broadview Federal Credit Union is financing the project. 

A joint venture between Trestle Studio, the Town Lake Company and Sopris Capital is looking to perform a $46 million, full interior remodel of the El Tropicano River Walk Hotel in San Antonio, Texas. The new ownership plans to turn the 308-key hotel into an upscale lifestyle destination with event spaces and a rooftop hotel deck. The renovation is expected to be completed by February 2026. 

Two Vancouver city councilors are proposing Vancouver look at changing the building bylaw to make it easier to convert empty, post-pandemic office space to pod hotels. The councilors say this could help travelers who can’t afford to stay in the city’s expensive hotels with an accommodation shortage during upcoming sporting events, such as the Invictus Games in 2025 and FIFA World Cup Soccer in 2026.

Hunter Hotel Advisors announced the successful sale of the Microtel Inn & Suites Wheeling at Highlands in Tridelphia, West Virginia and the Microtel Inn & Suites St. Clairsville in Ohio. Investment vehicles managed by Rialto Capital sold the two hotels to separate investors. Hunter facilitated the sale on April 30.

Paramount Lodging Advisors announced the sale of the 239-room Embassy Suites Livonia, Michigan. The luxury property includes over 6,000 square feet of event space and a restaurant and lounge. 

The 104-key Residence Inn Short Pump Richmond, in Richmond, Virginia, was put up for auction with a starting bid of $1.95MM. The auction will be held on the Crexi platform on June 24. Paramount Lodging Advisors is representing the seller in this auction. 

The 80-key Residence Inn West End Richmond, also in Richmond, Virginia, was put up for auction with a starting bid of $1.4MM. The auction, also being held on the Crexi platform, begins June 24. Paramount Lodging Advisors is representing the seller in this auction.

The newly opened Royalton CHIC Antigua, An Autograph Collection All-Inclusive Resort - Adults Only officially became the 33rd property to be a part of the All-Inclusive by Marriott Bonvoy portfolio. The property boasts 235 rooms and suites, a Royal Spa and fitness center, 7 restaurants and 5 bars. This addition further strengthens the partnership between Marriott International and Blue Diamond Resorts, making Royalton CHIC Antigua the 24th resort to join their joint venture. 

Personnel Move

Hotel Equities announced Eric McCarthy-Zink has been promoted to Chief Financial Officer. Eric joined the company in 2021 through Hotel Equities’ strategic partnership with The Hotel Group. In his new role as CFO, Eric will oversee enterprise-wide finance and accounting. He will strategically support the firm’s partners, clients, lenders, investors, and a large internal team by providing servant leadership to ensure the firm exceeds its financial goals. 

Europe Highlights 

Tivoli Hotels & Resorts announced the brand’s expansion in Italy with the addition of a historical property in Florence - Tivoli Palazzo Gaddi Firenze Hotel. A luxury palace from the 16th century, the property has recently been resorted and is scheduled to launch as Tivoli in June. Tivoli Palazzo Gaddi offers 86 guestrooms and suites, three restaurants and bars, three rooms to host events, ceremonies, and weddings, and five meeting spaces. When the property rebrands from NH Collection in June, Tivoli Palazzo Gaddi will be the second Tivoli in Italy.

Gruppo Statuto has purchased the Six Senses London for £180 million. The Italian real estate group bought the 109-room hotel and plans to open Six Senses London in early 2025. Six Senses London will also comprise 14 branded and fully furnished luxury residences. Six Senses holds a 30-year agreement to manage and brand the hotel, with the future ability to extend. Baker McKenzie advised Gruppo Statuto on the transaction.

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