Red Roof® Opens Red Roof Inn Nacogdoches, TX.
Red Roof®, the leader in economy lodging, has announced the opening of the Red Roof Inn Nacogdoches, TX.
News
KWC Management Closes Second Hospitality Fund
Hotel and hospitality investment manager KWC Management (KWCM), an investor in opportunistic, value-add assets across the hospitality vertical in the U.S., has held its final close for its second hotel- and hospitality-focused fund, Kemmons Wilson Hospitality Partners (KWHP II).
IHG Hotels & Resorts introduces the IHG LIFT initiative to enhance growth prospects for owners from diverse backgrounds
IHG Hotels & Resorts has unveiled the IHG LIFT program aimed at supporting and enhancing opportunities for historically under-represented groups in the hotel ownership domain. With an allocation of over $30 million over the next five years, the program will address barriers like access to capital and provide resources throughout the hotel lifecycle for eligible owners in the U.S. and Canada. IHG LIFT stands for Leadership, Inclusivity, Facilitation, and Transformation, reflecting the industry's ongoing evolution.
Caliber Announces Second Contribution to Caliber Hospitality Trust
CaliberCos Inc. (NASDAQ: CWD) (“Caliber”), a leading vertically integrated alternative asset manager, today announced that it has reached an agreement with L.T.D. Hospitality Group LLC (“L.T.D.”) in which L.T.D. has agreed to contribute nine hotel properties to its subsidiary, Caliber Hospitality Trust (“CHT”), an externally advised private hospitality corporation. The transaction is subject to customary closing conditions and is expected to close by the end of the third quarter of 2023.
Red Roof® Opens HomeTowne Studios Orange, TX.
Red Roof®, the leader in economy lodging, has announced the opening of the HomeTowne Studios Orange, TX.
Pipeline in Canada is Up; Toronto and Vancouver with Impressive Pipelines at Q2 2023
As seen in the recently released Canada Construction Pipeline Trend Report from Lodging Econometrics (LE), the total construction pipeline in Canada continued to expand at the close of the second quarter with 275 projects/37,359 rooms, up 5% by projects and rooms year-over-year (YOY).
Three Franchise Companies in the U.S. Dominate the Hotel Construction Pipeline and Openings Through 2025
According to the most recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), in the second quarter of 2023, the franchise companies with the largest pipelines in the U.S. are Marriott International (Marriott) with 1,511 projects/181,632 rooms, Hilton Worldwide (Hilton) with record high project and room counts of 1,470 projects/164,848 rooms, and IHG Hotels & Resorts (IHG) with 811 projects/80,516 rooms. These three franchise companies comprise 68% of all projects in the total U.S. hotel construction pipeline.
hihotels Signs Four More Properties
hihotels by Hospitality International, a recognized leader in franchising of conversion and new build hotels for economy lodging, has continued its growth this year by signing four properties to the system – three Scottish Inns in Texas and a Red Carpet Inn & Suites in New Jersey.
Atlanta and Dallas Among Top Markets for New Hotel Openings Through 2025
According to the United States Construction Pipeline Trend Report by Lodging Econometrics (LE) for Q2 2023, the five markets with the largest hotel construction pipelines are Dallas with a record-high 184 projects/21,501 rooms, Atlanta with 141 projects/17,993 rooms, Phoenix with 119 projects/16,107 rooms, Nashville with 116 projects/15,346 rooms, and Los Angeles with 112 projects/17,797 rooms.
Canyon Ranch to Receive Additional $150 Million Investment in Growth Partnership with VICI Properties
Canyon Ranch, a pioneer in destination wellness, today announced the Canyon Ranch–VICI Growth Partnership with VICI Properties (NYSE: VICI) ("VICI Properties"), an experiential focused real estate investment trust, aiming to expand the reach of Canyon Ranch's integrative wellness offerings across North America and beyond. The announcement comes as Canyon Ranch sets its sights on Texas as the first location to debut both a destination resort and Canyon Ranch Wellness Clubs within one market. The inaugural Wellness Club opens this fall in Fort Worth, with a Houston location in the summer of 2024, and the Canyon Ranch Austin resort opens in 2025.
Red Roof® Expands Portfolio
Red Roof®, the leader in economy lodging, is pleased to announce the opening of three new properties: the Red Roof Inn Painted Post, NY, the HomeTowne Studios by Red Roof Painted Post, NY, and the Red Roof Inn in Lancaster, TX. These additions to the Red Roof family offer guests exceptional comfort, convenience, and a range of amenities for a delightful stay.
Inside the Decline of Hotel Transactions in Q2
Defying the expectations of many, the U.S economy has demonstrated resilience driven in part by a solid employment report with stronger than expected wage growth during June, along with continued healthy levels of consumer spending. With this said, the U.S. economy has been slowed by the Federal Reserve’s aggressive drive to tame inflation through a series of interest rate hikes that began early last year. Although trending downward, with inflation remaining above its two percent target, the Federal Reserve is on track to raise interest rates again this month and mull another hike as soon as September. Despite elevated inflation, which is now easing, and ongoing fears of impending economic recession, unemployment rates remain low, and Americans continue to spend money on goods, services, and experiences.
By Daniel Lesser, President & CEO, LW Hospitality Advisors LLC (LWHA)
Noble Acquires Ten Asset Portfolio of WoodSpring Suites Hotels
Noble Investment Group ("Noble") today announced the acquisition of ten WoodSpring Suites hotels located throughout the southeastern United States. The firm plans to make physical improvements across the portfolio to enhance market positioning and accelerate performance.
District Hospitality Partners Acquires Westin Annapolis
District Hospitality Partners, a privately held hospitality investment group that owns properties nationwide, announced today the acquisition of the Westin Annapolis.
Newport Hospitality Group Expands In Fayetteville With The Opening Of Home2 Suites By Hilton Fayetteville North
Newport Hospitality Group (NHG), a leading hotel management company in the hospitality industry, is thrilled to announce the grand opening of the Home2 Suites by Hilton Fayetteville North, bringing NHG’s total number of rooms in the market to 338. This all-suite hotel joins the group's successful properties in the area, Candlewood Suites Fayetteville, and Fairfield Inn & Suites Fayetteville North, reinforcing Newport's strong commitment to the Fayetteville market.
Driftwood Capital Acquires 299-Key Hilton Dallas/Plano Granite Park Hotel
Driftwood Capital, a vertically integrated commercial real estate firm providing attractive returns in hospitality, announces the acquisition of the Hilton Dallas/Plano Granite Park. The 299-key hotel is centrally located within the 90-acre master-planned, mixed-use community of Granite Park in the north Dallas suburb of Plano. This marks the company’s third hotel acquisition in the Dallas-Fort Worth market; it also owns the 231-key Hilton Dallas/Rockwall Lakefront and the 248-key Hilton Dallas Southlake Town Square.
Black Swan Acquires Lyric Hospitality to Expand Luxury Rental Reach
Black Swan Holdings LLC, has acquired the Lyric brand to complement the real estate strategy of its asset manager, Black Swan Asset Management LLC, which launched earlier this year and raises capital to acquire Class A multifamily properties throughout North America. The acquisition includes domestic and international trademark rights, a comprehensive brand package, operational and performance data, and the lyric.com domain. The company’s relaunch of Lyric is slated for Summer 2023.
IHG Hotels & Resorts celebrates growth in British Columbia with two Vancouver Island hotel openings
IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, today announced the opening of two new hotels in British Columbia – Holiday Inn Express & Suites Courtenay – Comox and Holiday Inn Victoria – Elk Lake – offering modern accommodations with all the amenities to meet the needs of today’s traveler to those traveling to Comox Valley and Victoria on Vancouver Island.
HVS Takeaways from the NYU Hospitality Conference
With contributions from Stephen Rushmore, Roland deMilleret, McKenna Luke, Eric Guerrero, Janet Ott, Patricia Shih, Cole Masler, Raymond Parejo, Caroline Dioso, Robert Fitzpatrick, and Chelsey Leffet
By Rodney Clough, President - HVS Americas, Denver, HVS
Hilton Brings Back Exclusive Pop‑Up Hotel Experience ‘Hilton on the Green’
Hilton is proud to announce the return of their highly successful ‘Hilton on the Green’ experience to the RBC Canadian Open, June 6-11 at Oakdale Golf and Country Club in Toronto, Ontario.