Hyatt Unveils Plans for New Brand Hyatt Select

The DJIA rose 160 points while Nasdaq was down 261, another -1.35%, and the S&P 500 fell 28 points. The 10-year treasury yield was down .10 to 4.30%. Lodging stocks were modestly lower. XHR was the big mover, down -6%.

Apple Hospitality reported a 4Q beat, mostly on margins that were better than expected. Its 2025 guidance was a tad below expectations. APLE did not repurchase any shares in 4Q. Summit Hotel Properties reported a modestly weaker than expected 4Q result, mostly due to weather in Asheville and Atlanta and Florida renovations. Xenia Hotels & Resorts reported a relatively in-line quarter, but guidance was given the label of being conservative. XHR repurchased $7.6 million worth of stock in 4Q. XHR upped its quarterly dividend by 17% to $0.14 per share.

Hyatt commenced its tender offer for Playa Hotels & Resorts shares, filing its tender offer statement with the SEC. At least 80% of PLYA’s shares must be tendered to reach the minimum condition. In the filing, Hyatt noted they have received non-binding indications of interest for the purchase of PLYA’s owned real estate portfolio. H noted the indications were preliminary.

Hyatt also announced plans for Hyatt Select, a new upper-midscale transient brand, a brand Hyatt says will serve as a conversion outlet for many aging Hyatt Place properties. This is the sixth brand to join H’s “Essentials Portfolio” of select-service brands. H did not report on any deals being signed yet. H also celebrated the opening of their first Hyatt Studios location on February 18, Hyatt Studios Mobile/Tillmans Corner.

Truist reiterated their support of Ryman Hospitality Properties, reiterating it as their favorite Lodging REIT. They lowered their price target to $133 from $136.

Susquehanna upped their price target on Wyndham to $110 from $80; Hilton to $250 from $247 and Hyatt to $155 from $150. They maintained their Neutral ratings on all three lodging stocks. Mizuho upped their price target on Marriott Vacations to $120 from $117, maintaining their Outperform rating. Baird upped their price target on Choice Hotels to $160 from $145. They maintained their Outperform rating.

Vector Hospitality Inc., in partnership with Eraa Hospitality, announced its newest property, the 91-room Home2 Suites by Hilton Conyers Atlanta, marking Vector’sinaugural hotel opening and entry into the Conyers market. Managed by Vector Hospitality Inc., the hotel offers amenities such as Sprin2 Cycle, Home2 MKT, an outdoor resort-style saline pool, and a fire pit and grill area.

IHG Hotels & Resorts announced the opening of a newly-built Holiday Inn Express hotel nestled within Ville St. Laurent’s industrial park in Montreal, Canada. Holiday Inn Express Aeroport Montreal - St-Laurent features 91 guestrooms, an indoor heated pool with a slide, a fitness center, and 1,078 square feet of meeting and event space. The property operates under the ownership of 11849905 Canada Inc.

Dreamscape Hospitality has assumed management of the Holiday Inn Express & Suites Bentonville, in Bentonville, Arkansas. The recently renovated hotel offers a fitness center, self-service laundry, and ample onsite parking.

Ameristar Casino Resort Spa in St. Charles, Missouri announced the completion of remodeling its 397 all-suite hotel rooms. Guests at the Ameristar Casino Resort Spa can also look forward to new forms of entertainment and dining, including a new sports bar, steakhouse, and modern gastropub.

CooperWynn Capital completed the successful loan modification for the Hotel Indigo Detroit Downtown on behalf of the ownership group. The property features 241 rooms with 48 suites, an onsite restaurant, a fitness center, and over 1,750 square feet of meeting space. The modification allows owners to maintain their current loan while replacing historic costly covenants and provides flexibility in the immediate future.

Cronheim Hotel Capital secured a $30,000,000 loan on behalf of Everwood Hospitality Partners to finance the recently converted 128-room Aloft Indianapolis Downtown.

Personnel Moves

Meyer Jabara Hotels announced that Senior Vice President of Operations Eric Churchill has been promoted to Chief Operating Officer. As part of this newly appointed position, Churchill will oversee portfolio operations to ensure best-in-class operations and performance for its owners, guests, and associates. Prior to joining Meyer Jabara Hotels in 2004, Churchill worked for Bristol Hotels and Resorts.

Salamander Collection appointed George Terpilowski as its new Senior Vice President of Operations. Prior to joining Salamander, Terpilowski was the General Manager of InterContinental Buckhead, Atlanta. In his new role, Terpilowski is responsible for the day-to-day operations of the hotels and resorts within the company’s portfolio, for maintaining Salamander’s high levels of service quality, and ensuring the company’s goals are achieved through increased profitability.

McNeill Hotel Company announced the promotion of Jesse Kremer from Regional Director of Operations to the new position of Vice President of Hotel Operations. In his new role, Kremer will lead the regional directors and hotel teams in achieving a balanced scorecard, focusing on associate satisfaction, guest satisfaction, brand initiatives, financial success, and owner relations. Kremer comes to McNeill Hotel Company from Hawkeye Hotels.

Alterra Mountain Company announced key additions to its executive leadership team with the appointment of Diane Neville as Chief People Officer and Will Forbes as President & Chief Operating Officer of the Experiences Division. As CPO, Diane Neville will be instrumental in shaping and executing the company’s people strategy, driving key initiatives to attract, develop, and retain top talent as part of the company’s goal to cultivate an industry-leading employee experience. Most recently, Diane served as CPO at Shake Shack Enterprises. Will Forbes will oversee a division of the company dedicated to Alterra’s adventure hospitality operations, currently made up of Alterra’s two heli-skiing operations, CMH Heli-Skiing & Summer Adventures and Mike Wiegele Helicopter Skiing, both located in British Columbia, Canada. He will be responsible for creating an innovative vision and strategy for growing Alterra’s adventure travel portfolio while building new capabilities to be leveraged across both CMH and MWHS. Forbes has over 20 years of experience with global operations and strategy, with a deep focus on luxury travel with brands including Four Seasons and Kensington Tours.

Marriott Vacations Worldwide Corporation appointed Matthew Avril and James Dausch as independent directors of the Board. The company also announced the retirement of Melquiades Martinez and Raymond Gellein as members of the Board effective immediately prior to the company’s annual meeting of its stockholders, which is expected to take place in May 2025. Mr. Avril has over 30 years of executive experience, principally in the hospitality and vacation ownership industries, and most recently served as Chief Executive Officer of Diamond Resorts International, Inc. Mr. Dausch is a senior executive with over 25 years of experience conceptualizing and leading the execution of transformation, growth-focused strategies at well-known brands, including Marriott International, Inc. and is currently Global Chief Digital and Technology Officer, Pizza Hut at Yum! Brands, Inc.

Europe Highlights

Radisson Hotel Group announced its expansion into Montenegro with the signing of an agreement for Radisson Resort Ruza Vjetrova, a family-friendly coastal resort whose renovation is scheduled for completion in the second quarter of 2025. This is the Radisson Group’s first coastal resort in the country and represents an important step in its strategic expansion in the Balkans.  Radisson Resort Wind Rose will have 170 accommodations units, two outdoor pools, a kids’ club, two tennis courts, a souvenir shop, massage room, and a variety of gastronomic options. 

Radisson Hotel Group celebrated its debut in Bergamo with the opening of Radisson Blue Hotel, Bergamo ChorusLife. Located in the ChorusLife Smart District and just minutes from Bergamo, Italy’s historic center, the hotel features 107 rooms and suites, extensive dining facilities and meeting and event spaces spanning 373 square meters across seven flexible venues. 

The PPF Group has completed the acquisition of the Quinn Hotels Prague company, which owns Hilton Prague, the largest hotel in the Czech Republic,  according to CBRE. The 11-story Hilton Prague boasts 791 rooms approximately 5,000 square meters for conferences.  The PPF group announced earlier that it is acquiring Quinn Hotels Prague through its firm PPF Real Estate.