Legacy Ventures

Mint House announced its expansion into Washington, D.C., with the grand opening of its newest property, and other hotel development news.

Hotel industry shows activity with Accor confirming its outlook for the year without a downward revision and KHP Capital Partners securing $300 million for hotel acquisitions and renovations.

IHG Hotels & Resorts plans to double the Hotel Indigo portfolio within three to five years, adding new properties in diverse locations such as the Cayman Islands, Oman, Mexico, and more, with several openings scheduled throughout 2024.

Lodging stocks were mixed but the biggest movers were to the upside. VCSA and SLNA both rose 6% on the day. The Baird/STR Hotel Stock Index fell -10% in December. That put all of 2022 down -15% from 2021. The Hotel Brand sub-index was down -9.2% in December from November while the Hotel REIT sub-index was down -12.8% Sonesta International Hotels Corporation announced the expansion of its global development strategy to include The James brand as part of the Sonesta Franchise portfolio in the U.S. and in Latin America.