SH Hotels Officially Rebrands as Starwood Hotels

The DJIA jumped 486 points while Nasdaq rebounded 268, the S&P 500 was up 64 points, and the 10-year treasury yield was up .06 to 4.27%. Lodging stocks were modestly higher.

Newmark Group, Inc. announced its 2025 Valuation & Advisory North American Market Survey. In the Hospitality, Gaming, & Leisure segment of the report, they said RevPAR growth last year was impacted by reduced summer demand as discretionary spending waned. They noted occupancy and ADR increased slightly in most markets, supported by easing inflation and interest rate cuts.

SH Hotels & Resorts, a sustainable hotel brand management company that includes 1 Hotels, Baccarat Hotels, and Treehouse Hotels brands, is officially rebranding itself as Starwood Hotels. Barry Sternlight founded Starwood Hotels & Resorts roughly 30 years ago. Marriott completed an acquisition of Starwood Hotels & Resorts for $13.6 billion. While all of Starwood Hotels & Resorts' legacy brands were being added to Marriott's portfolio, Sternlicht had already planted the seeds for the eventual return of the Starwood name when he launched SH Hotels & Resorts back in 2015.

STR reported on U.S. lodging data for the week ended 3/1/25. STR said U.S. hotel RevPAR was up 3.1% year over year, led by ADR with a rise of 2.7%. Group RevPAR was up 4% for the week, year over year.

Ironstate Development Company and Pegasus Group celebrated the tenth anniversary of the Element Harrison-Newark in Harrison, New Jersey, with the completion of a multi-million dollar renovation. Key features of the upgrades include the redesign of all 138 guestrooms, refined meeting spaces, and upgraded amenities, including the fitness center and The Station Bar & Bites.

Dreamscape Hospitality assumed management of the Hampton Inn Freeport. Located in the heart of Freeport, Illinois, the hotel offers 73 guestrooms, an indoor pool, and a fitness center.

Investor Raymond Chau acquired the 169-key Hilton Garden Inn located in the Chelsea neighborhood of New York City. Chau purchased the property for $49.9 million using the entity Hammertime W28 Street. The seller was Han's Holding Company, which sold the property through Han's 28 Hospitality.

IHG Hotels & Resorts, in collaboration with owner H&R Hospitality of DE LLC and management company Vantage Hospitality, celebrated the opening of a newly converted Staybridge Suites hotel in Lewes, Delaware. The Staybridge Suites Rehoboth Beach boasts 94 suites and 1,080 square feet of meeting space.

The city of Calera, Alabama announced the upcoming opening of three new hotels. The new developments include a 78-room Comfort Inn and Suites on Beverly Drive, a 94-room Holiday Inn Express, and a Home2 Suites to open on Metro Drive, providing 115 guestrooms.

HEI Hotels & Resorts has assumed management of Claremont Resort & Club in Berkeley, California. The company was hired by Ohana Real Estate Investors as the resort's operator. Claremont Resort & Club houses 276 guestrooms including 35 suites, 21,000 square feet of meeting space, Spa at the Claremont, multiple food and beverage outlets, and The Club at the Claremont, which provides eight tennis courts, four pickleball courts, three outdoor pools and an expansive fitness center.

Westgate Las Vegas Resort & Casino introduced The Lucky Bunny Suite, curated in collaboration with Sandi Taylor, a former Playboy Playmate, actress, model and sommelier. The one-bedroom, 1,611 square foot Lucky Bunny Suite boasts a 235 square foot balcony offering views of the Las Vegas Strip and The Sphere. With the opening of the Lucky Bunny Suite, Westgate Las Vegas has expanded its Fantasy Suites collection, offering exclusive, custom-designed stays catering to niche interests.

Plan M, a Korean modular company, signed a contract with Eastern Group, a U.S. construction company, to set up a modular hotel in the U.S. This is the first case in which a Korean modular company directly exports a hotel to the U.S. mainland. According to the contract, a total of 270 modules will be used in the United States to build a five-story hotel with 228 rooms, restaurants, banquet halls, and additional facilities such as screen golf courses. The total project cost is about 100 billion won, and licensing and design are currently underway in the U.S. with the aim of completing it in 2027. The location of the hotel's construction has not been disclosed.

The grand opening of Gun Lake Casino Resort's new hotel in Wayland, Michigan is just days away. The new 16-story, 252-room luxury hotel tower will officially be open to the public on Friday. In addition to the hotel, new amenities such as the MnoYe Spa, the Sandhill Café, a stylish lobby bar, and an enlarged casino floor with new slot machines will also be available. Come May, the casino will conclude the entirety of its expansion project with the debut of Wawye Oasis, a 32,000-square-foot indoor atrium that will feature a tropical climate, multiple pools, a swim-up bar, and year-round live entertainment.

Integritas Capital is proposing a 57-story tower with apartments and a hotel in Fort Lauderdale, Florida. The firm filed a site plan for 550 apartments and a 253-key branded hotel at the tower's podium. Heights Advisors is partnering on the project.

DSH Hotel Advisors brokered the sale of the Holiday Inn Express & Suites Jacksonville - Mayport/Beach in Jacksonville, Florida. Located near Mayport Naval Station, the hotel was sold for an undisclosed price. The seller was Mayport Lodging, Inc., and PH Lodging Jax Beach LLC purchased the property.

A REIT with a portfolio of luxury properties is getting $363 million of new financing backed by five full-service hotels spanning 1,789 keys in four U.S. states and Puerto Rico. Braemar Hotels & Resorts has landed the two-year, floating rate interest-only mortgage loan with three one-year extensions from JPMorgan Chase Bank. According to Fitch Ratings, the mortgage loan is expected to refinance $355 million of existing debt and pay an estimated $8 million in closing-related costs.

The opening date of Zemi Miches All-Inclusive Resort, Curio Collection by Hilton in Puna Cana is now March 15, 2025. The brand-new beachfront resort will offer 500 rooms, a variety of food and drink options, kids and teens clubs, sprawling pool complex with three waterslides, a fitness center and juice bar, and a dedicated spa with treatment rooms, beauty salon, sauna and more. 

Personnel Moves

Trinity Investments announced the promotion of Craig Lovett to Managing Director of Development. Previously Senior Vice President of Development, Craig will continue to lead all planning, design, and construction of Trinity'sacquisitions and existing portfolio.

Kempinski Hotels appointed Karin Raguin as the new Chief Human Resources Officer. In her new role, Karin will oversee all aspects of human resource management, including talent management and acquisition, performance management, compensation and benefits, success planning, compliance, learning and development, and social impact. Karin previously held the position of Senior Vice President of Human Resources for LVMH in China.

Europe Highlights

Hyatt Hotels Corporation announced its expansion plans in some of the most popular holiday destinations among British travelers. Since 2017, the company has quadrupled its portfolio in European and African destinations, including Spain, Italy, France, Greece, Turkey, Bulgaria, Egypt, and Morocco. Looking ahead, Hyatt plans to add 20 new hotels in these and other destinations, such as Albaniaand Croatia. This expansion represents 20% growth in Hyatt's brand presence in these destinations, adding over 4,000 new rooms. Among these 20 new openings are first-time entries into destinations such as the Greek island of Paros, Portugal's Algarve, Seville in Spain, Zadar in Croatia, and Palase on the Albanian Riviera.