Peachtree Group Has 48 Properties in Development

The DJIA fell 123 points while Nasdaq was down 235, the S&P 500 was down 46 points and the 10-year treasury yield was down .03 to 4.54%. Lodging stocks were modestly lower. PK traded down to a new low while WH traded up to a new high.

Park Hotels’ price target was cut to $13 from $15 by UBS. The firm maintained their Neutral rating on PK.

Hyatt Hotels and Playa Hotels & Resorts announced they extended their previously disclosed exclusivity agreement. Under that agreement, PLYA agreed to negotiate exclusively with Hyatt regarding potential strategic alternatives which may include the acquisition of PLYA. The exclusivity period has been extended to February 10th.

Ashford Hospitality Trust, Inc. announced several revenue-focused initiatives have been fully implemented as part of the broader “GRO AHT” plan. As previously announced, “GRO AHT” is a transformative strategic initiative designed to drive $50 million in EBITDA growth and substantially improve shareholder value. In recent months, many of AHT’s hotel property managers have already implemented the following, with each initiative aimed at driving ancillary revenue growth and improved profitability across the portfolio: Comprehensive Menu Engineering Analysis: optimizing food and beverage offerings to increase profitability while enhancing guest satisfaction. Parking Agreement Modifications and Maximization: streamlining parking operations and leveraging dynamic offerings to drive additional revenue. Gift Shop and Corner Store Refreshes: revamping product selections and pricing to align with guest preferences and improve profitability. Historic Preservation Fee Implementations and Adjustments: strategically introducing or adjusting fees in applicable markets to capture untapped revenue opportunities. In total, these initiatives are expected to deliver more than $3 million in incremental hotel EBITDA annually, with several others underway.

Peachtree Group announced the firm surpassed $2 billion in hotel development, bringing its total development to 48 hotels nationwide. Recent and ongoing projects include Embassy Suites, Gulf Shores, Alabama expected to open in summer 2025. AC and Moxy Hotel, Uptown Dallas, broke ground in August 2024 representing a milestone in urban hospitality development. Tru by Hilton, Huntsville, Alabama scheduled to open in the fourth quarter of 2025. Peachtree has been a strong advocate of the Qualified Opportunity Zone program since its inception. Recent examples of Peachtree’s success in QOZ developments include AC Hotel by Marriott, Sacramento, California; Residence Inn by Marriott, San Antonio, Texas; and The Hampton Inn & Suites Maui, Kahului, Hawaii, set to open by the end of March.

Hilton Sandestin Beach Golf Resort & Spa, in Miramar Beach, Florida, announced the completion of its $35M property-wide renovation to celebrate its 40-year anniversary. Managed by Sandcastle Resorts & Hotels, Hilton Sandestin Beach Golf Resort & Spa boasts 590 accommodations, more than 62,500 square feet of meeting and event space, a spa, fitness center, six onsite seasonal dining venues, 12 HydroGrid clay tennis courts, a full-service marina, 72 holes of golf onsite, and an updated indoor pool.

Tilman Fertitta’s Hilton Galveston Island Resort, in Galveston, Texas, has completed multimillion-dollar renovations. Fertitta Hospitality upgraded the guestrooms, restaurant, bar, pool deck, fitness center and meeting spaces at the 241-room hotel.

IHG Hotels & Resorts opened a newly converted and re-branded Holiday Inn Express hotel in South Burlington, Vermont. Owned by SoBu Hotel LLC and managed by Colwen Hotel Management, the Holiday Inn Express South Burlington - Downtown features 104 guestrooms, a fitness center and an outdoor pool.

According to hotel project leads.com, Root Architecture and Design is planning to build a three-story boutique hotel in downtown Morrison, Colorado. The Red Hotel will include 22 guestrooms, a ground-level coffee shop, and a rooftop patio. Construction is expected to take 14 months and be completed in late 2026.

A new VIP lounge for Disneyland Hotel high rollers with concierge level access will offer killer views of the Anaheim theme park’s fireworks with the musical soundtrack for the show synced up to the nighttime spectacular. The new High Key Club concierge lounge, debuting this summer at the Disneyland Hotels, will double as a fireworks viewing area for club level hotel guests, according to the San Gabriel Valley Tribune. The High Key Club will nearly double the size of the current E-Ticket Club lounge in the hotel’s Adventureland Tower. Disney’s Grand Californian Hotel will also add a second club level lounge, set to debut in 2026. The two-story lounge on the 5th and 6th floors will overlook the hotel’s Great Hall lobby.

Drury Hotels Company, LLC unveiled its newest property in Texas and the first hotel launch of 2025. The Drury Plaza Hotel College Station marks the company’s 18th hotel in the state and offers 160 guestrooms, 1,100 square feet of meeting space, an indoor pool, and business and fitness centers.

The Divine Group unveiled the Inn at Altamont, a luxury hotel on Paris Mountain in Greenville, South Carolina. The four-story Inn at Altamont offers 150 guestrooms, a resort-style pool, a spa, rooftop restaurant and bar, a 750-person banquet hall and an outdoor event lawn.

Henderson Park has completed the acquisition of the PGA National Resort in Palm Beach Gardens, Florida, in partnership with the Salamander Collection and South Street Partners from a Brookfield Asset Management private real-estate fund. The PGA National Resort has 360 guestrooms, 99 holes of championship golf, a spa, six restaurants and the Sports & Racquet Club. Building on a recently completed $100 million renovation, the new ownership will launch further improvements, including the addition of a new pool and updates to the golf experience. Henderson Park was advised by Jones Day.

Hospitality Ventures Management Group announced the launch of Elevate Renovations & Development, a third-party project manager and asset lifecycle services provider offering flexible, cost-effective solutions tailored to the unique needs of the hospitality industry. Elevate offers flexible solutions to work with hotel owners on individual, short-term projects as well as being a long-term partner for the lifespan of their investments to bring hotel-specific development and renovation expertise and knowledge to their projects. The firm provides a full suite of development and project management services, from pre-purchase due diligence through disposition.

RIU Hotels & Resorts shared exclusive insights into the company’s latest developments and strategic plans. RIU’s growth continued in 2024 with several high-profile property openings including RIU’s first hotel in Chicago, marking the company’s fifth hotel in the United States. Additionally, RIU strengthened its presence in the Caribbean by unveiling the Riu Palace Aquarelle in Jamaica. Expanding further, RIU opened two new properties on the island of Mauritius. RIU has ambitious projects slated for 2025 including in Cancún, Mexico, set to launch towards the end of the year, becoming RIU’s 23rd property in Mexico and the sixth in Cancún. Beyond launching new properties, RIU remains dedicated to revitalizing its existing portfolio. Renovation projects are currently underway at the Riu La Mola in Formentera, Spain, and additional projects in other locations including Mexico and the Canary Islands.

Aventura On The Ocean, located near Myrtle Beach International Airport, went on the market in December 2024. According to Zillow, the asking price is $4.39 million. The 41-room hotel sold in 2022 for $4.65 million.

The Rehoboth Beach Planning Commission approved the site plan for a boardwalk property between Rehoboth and Baltimore Avenues. It includes a four-story, 60-room hotel, retail space at the ground level, and underground parking garage and an outdoor pool. The developers are Grotto Pizza and Onix Group.

The team behind nearly 25 years of success in privatized military housing and lodging announced its launch as a wholly owned business under a new name. Centinel Public Partnerships, LLC, born from the acquisition of Lendlease Group’s U.S. military housing and lodging holdings, assumes ownership of the portfolio of 10 housing communities and over 70 hotels across 26 states and Puerto Rico. Centinel Public Partnerships, LLC, will be owned by institutional clients of Guggenheim Partners Investment Management, LLC. Now a Nashville-based business with a national footprint, Centinel will keep its core leadership team at the company’s helm. That includes Chief Executive Officer Justin Kern and President Phillip Carpenter.