Minor Eyes U.S. After White Lotus Bump

The DJIA fell another 537 points, the Nasdaq resumed its decline, down 345, and the S&P 500 was down 78 points. The 10-year treasury yield was down .04 to 4.27%, but despite the lower interest rates, lodging REITs have quite a list of new lows as recession fears trump the lower interest rates. PEB was down -6% to a new low, while PK, RLJ, and INN were each down -5% to new lows. Also setting that new 52-week low mark were H, CLDT, RHP, HST, XHR, APLE, and VAC. SVC had the biggest decline in the group, down -8% while ABNB was down -6% and HGV and SHCO both fell -5% on the day.

Raines has added the Hilton Garden Inn Greenville University Area in Greenville, North Carolina, to its management portfolio. This is the fourth hotel that Raines is managing for Clarendon Properties. The property is owned by Greenville Ventures, LLC, a collaboration between Clarendon, Co-X Holdings,and Sandlin Investments. The 101-key property features amenities such as a fitness center, spacious meeting rooms, a business center, and a rooftop bar and restaurant.

TPG Hotels & Resorts announced the addition of the Hilton Garden Inn Dallas Market Center to its managed portfolio. The eight-story, 240-room hotel features a fitness center, outdoor pool, onsite dining, and over 8,000 square feet of flexible meeting space, including ten meeting rooms.

Hard Rock Hotel has revealed its Reverb development in Pensacola, Florida. The proposed Reverb by Hard Rock Hotel project is a large-scale development planned for Community Maritime Park. The project is being spearheaded by Inspire Communities, also known as The Dawson Company, which is collaborating with EJ Smith Enterprises. Together, the two companies aim to bring a 15-story residential apartment building, the Rhythm Lofts, and a 10-story hotel under the Reverb brand to the Pensacola waterfront. The design will feature an underground parking level and two additional levels of parking above ground. These parking areas are designed to accommodate both the hotel guests and residents of the Rhythm Lofts.

IHG announced the opening of a newly built Staybridge Suites hotel in Greenville, N.C. The 104-suite property offers more than 1,000 square feet of meeting and event space. Staybridge Suites Greenville Medical Center is owned by Vidant Hotels, Inc. and managed by Bharat Patel Hotels.

Minor International Plc plans to expand in the United States to cash in on the global fame from The White Lotus, which has sent its room bookings in Thailand skyrocketing since the show began airing last month. Minor will aim to open one Anantara hotel in the U.S. by early next year. They only have one hotel in the U.S.through NH Hotel Group, which they acquired in 2018, but the strong following of The White Lotus has changed their view on the competitive American market. The White Lotus' primary filming locations were at three Anantara properties in Phuket and Koh Samui from Minor, and their Four Seasons hotel was on the same island. Minor said that since the show launched in mid-February, direct online bookings for the three Anantara resorts have been up 41% year over year, while web traffic has more than doubled. Overall, Minor is aiming to expand to 850 hotels in 2027 and 1,000 by 2030. They currently have 562 hotels they operate or own in 57 countries.

Georgetown University is set to transform its historic campus hotel with a major renovation launching in Fall 2025. The ambitious five-story project will feature 146 guestrooms, a premier restaurant and bar, and over 13,000 square feet of meeting and event spaces.

Montage International, in partnership with developer DINE and LCA Capital, officially broke ground on the Montage Punta Mita and Pendry Punta Mita and branded residences within the 1,500-acre master planned community of Punta Mitain Nayarit, Mexico. Montage Punta Mita will have 145 rooms and 62 Montage Residences, and Pendry Punta Mita will feature 125 guestrooms and 32 Pendry Residences when they open in 2027. Both will have various amenities, including respective Spa Montage and Spa Pendry, as well as multiple food and beverage options, pools, beach activities, and meeting and event space.

Nobu Hotel Toronto will be opening its doors early this summer. The 36-room and suite hotel is the first luxury hotel in the city to be situated at the very top of a mixed-use property. Set on floors 41 to 45, Nobu Hotel Toronto will feature the Sakura Lounge and a wellness center. Nobu Toronto Restaurant, Bar & Lounge is located below the hotel.

A sizeable new hotel project is proposed near the entrance into Granville Island in Vancouver. Preliminary artist renderings depict a slender building with an exoskeleton-patterned façade, a total of 168 guestrooms, active ground-level hotel spaces, and indoor and outdoor hotel amenities on a landscaped tower rooftop.

A historic Colorado hotel in Castle Rock is to be transformed into a new boutique hotel and restaurant. The old City Hotel, built back in 1872, served as a focal point for the town's earliest settlers. Now, former mayor Tim White and his firm, White Development, are working to restore it. White plans to turn it into a boutique hotel, restaurant, and retail space. The firm is working toward breaking ground in the next few months with the goal of a 2027 grand opening, preserving as much of the original history as possible along the way.

Mag Mile Capital, Inc. announced the closing of $13 million in CMBS financing for the Hampton Inn Harker Heights, located in Harker Heights, Texas. The financing was structured with a 65% loan-to-value ratio, a 10-year loan term, and a 30-year amortization schedule. The non-recourse loan carries a fixed interest rate of 7.50%.

Ashford Hospitality Trust announced reductions in corporate administrative and general expenses as part of its ongoing efforts to enhance EBITDA and improve financial performance. This is a key component of GRO AHT, the initiative designed to drive $50 million in annual run rate EBITDA improvement and increase shareholder value. Advisor Ashford Inc. has implemented several corporate cost-saving measures for AHT, including reductions in legal spending, accounting and consulting fees, general office expenses, and consolidation of bank fees. AHT expects the initiatives to deliver over $4 million in annual savings. Combined with previously announced initiatives, the reductions in G&A expenses are expected to deliver more than $18 million in incremental EBITDA.

Huff, Niehaus & Associates, Inc. announced the sale of the SureStay by Best Western Bardstown General Nelson, located in Bardstown, Kentucky, on behalf of Dhamdhani, LLC. The 48-unit hotel was acquired by Vrindavan LLC.

The Luxury Collection announced the grand opening of Salterra, a Luxury Collection Resort & Spa, Turks & Caicos, in the Turks and Caicos Islands.  Located on the shores of South Caicos Island, the resort offers six distinctive dining experiences, The Spa at Salterra, and world-class eco-experiences. 

Beaches Resorts unveiled a massive US $1 billion expansion plan, set to double its presence in the next five years. In a major move, Beaches Resorts will make its debut in Barbados. Scheduled to break ground in late 2025, the new Beaches Barbados will feature 600 rooms. Beaches Exuma will mark the brand's first venture into The Bahamas. The property will undergo a transformation from Sandals Emerald Bay into Beaches Exuma, which will include 294 rooms. Beaches Runaway Bay Resort will open in Jamaica, featuring 400 expansive suites and villas. Beaches Resorts also revealed the new Treasure Beach Village at Beaches Turks and Caicos Resort. Now accepting reservations, guests can choose from 101 multi-bedroom concierge and butler suites. The $150 million dollar expansion will elevate the all-inclusive resort's overall key count to 858 and marks the sixth village addition to the Beaches Turks and Caicos property. 

Wyndham Hotels & Resorts achieved remarkable expansion across Europe, the Middle East, Eurasia, and Africa in 2024. With 51 new hotel openings and 83 newly signed agreements, the company added over 6,400 rooms to its growing portfolio. Notable developments in France, India, Spain, Turkey, and Portugal highlight Wyndham's strategic commitment to high-demand markets. Wyndham's market expansion is particularly strong in Turkey, with nearly 120 properties. Key additions include Days Inn by Wyndham Alanya and Wyndham Garden Cambasi in Ordu. Meanwhile, in India, the company has expanded its presence with new Ramada and Ramada Encore hotels in Ahmedabad, Srinagar, and Bhiwadi. The company is also making significant strides in the branded residences sector, with upcoming projects in Spain and Greece. 

Personnel Move

Nikki Beach Hospitality Group announced the appointment of Richard Johnson as Chief Financial Officer. Johnson previously spent nearly 30 years at PricewaterhouseCoopers, where he led the Silicon Valley Tax Practice.

Europe Highlight 

Valor Hospitality Partners announced the openings of two new luxury UK hotels: Seaton House, located just yards from the 18th green at the Old Course at St Andrews, Scotland, and Dunluce Lodge in Northern Ireland, which overlooks the fourth fairway at Royal Portrush Golf Club. The hotels are operated by Valor Hospitality Partners in partnership with owner Links Collection. Seaton House offers 42 guestrooms and a range of dining options. Dunluce Lodge boast 35 luxury suites, including eight in The Stookan, its private home for larger groups; a world-class restaurant; a wine vault; an intimate spa; and private dining spaces.