Development USA & Canada News - Hospitality Net

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October 30, 2023

The Dallas Market Maintains Grasp on the Greatest Number of Projects in the U.S. Hotel Construction Pipeline at Q3 2023

As seen in the third quarter United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the top five markets with the largest hotel construction pipelines by projects at Q3 2023 are led by Dallas, with an all-time high of 189 projects/21,840 rooms, followed by Atlanta, with 140 projects/17,775 rooms, and Nashville, with 122 projects/16,046 rooms. Next is Phoenix, with 119 projects/16,455 rooms, and the Inland Empire, with 117 projects/11,784 rooms.

Lodging Econometrics

Opinion Article

October 30, 2023

Q3 2023 Major U.S. Hotel Sales Survey

Notwithstanding a persistent jittery economic environment and rising global geopolitical concerns, market conditions in the U.S. appear simultaneously shaky and resilient. National lodging sector metrics, particularly average room rates and RevPAR, continue to achieve exceptional results as demand for travel and lodging remains robust. Although overall leisure patronage is trailing off from pandemic highs, due in part to Americans opting for international travel, domestic corporate individual and group meeting business continues to rebound to pre Covid-19 levels. Additionally, inbound international travel to the U.S. continues to recover.

By Daniel Lesser, President & CEO, LW Hospitality Advisors LLC (LWHA)

October 25, 2023

U.S. Construction Pipeline Continues its Steady Growth Trajectory with Upper Midscale & Extended Stay Projects Dominating the Pipeline at Q3 2023

According to the most recent Construction Pipeline Trend Report for the United States by Lodging Econometrics (LE), at the close of Q3 2023, the total U.S. construction pipeline stands at 5,704 projects/672,676 rooms, up 7% Year-Over-Year (YOY) by projects and rooms. The hotel construction pipeline continues to grow at a moderate pace with current project counts 3% below and rooms 14% below the all-time high of 5,883 projects/785,547 rooms reached in Q2 2008.

Lodging Econometrics

October 20, 2023

Four Properties Activated into hihotels System

hihotels by Hospitality International, a recognized leader in franchising of conversion and new build hotels for economy lodging, today announced the activation of four properties –Scottish Inns in Austin, Forest Hill and Hankamer, Texas and a Passport Inn in Paradise, Pennsylvania.

Hospitality International Inc

October 19, 2023

Sonesta Simply Suites Opens Four New Locations

Sonesta International Hotels Corporation (Sonesta) today announced the grand openings of four new Sonesta Simply Suites locations this week.

Opinion Article

October 11, 2023

Navigating the hotel transaction market: Not all assets are created equal

While commercial real estate as a whole continues to navigate uncertainty, the hotel property market is experiencing a unique set of challenges and opportunities. Hotel owners and operators currently face a significant divergence in hotel operations performance across different locations and sectors. Meanwhile, potential buyers and sellers are grappling with how to accurately value hotel properties and manage rising debt costs and interest rates, leading to a complex and depressed deal market for hospitality properties.

By Ryan McAndrew, Real Estate Senior Analyst, Senior Manager, RSM US LLP, RSM

September 22, 2023

The City of Raleigh Selects Omni Hotels & Resorts for 550-Room Convention Hotel, Transforming Downtown Skyline and Economic Landscape

The Raleigh City Council voted today to direct the City of Raleigh staff to enter into negotiations with Omni Hotels & Resorts, in partnership with Preston Hollow Community Capital and Provident Resources Group, to develop the highly anticipated convention hotel in the core of downtown Raleigh. The dynamic addition to the Raleigh skyline will be built on an over one-acre lot across from the Raleigh Convention Center and Martin Marietta Center for the Performing Arts at the end of Fayetteville Street. Expected to open in 2027, the Omni Raleigh Hotel will be a great addition to Omni’s growing portfolio of over 50 luxury hotels.

Raleigh, North Carolina, United States

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Hospitality Net

The next-gen metrics that move hotel P&L

Hotel tech has changed what's possible – and measurable. RevPAR and ADR aren't enough; discover the metrics that really matter.

September 21, 2023

“Well” on the Way: IHG Hotels & Resorts’ EVEN Hotels Continues Momentum

EVEN Hotels – part of IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies with more than 6,200 destinations across 19 brands – is celebrating its growth momentum and positive response from guests and owners following the unveiling of its reimagined prototype and brand identity. The upscale, select service and wellness-focused brand plans to open seven additional U.S. properties by the end of 2024 – which will increase its national footprint by nearly 40 percent – while also integrating elements of its refreshed look and offerings throughout its portfolio.

September 21, 2023

The Neighborhood Hotel is the only hotel in the world that stocks every bathroom with Charmin Ultra Soft

The Neighborhood Hotel is truly dedicated to comfort in all forms. Charmin Ultra Soft is the exclusive toilet paper that guests will find in the bathroom of every suite across all four [soon to be five] locations throughout Southwest Michigan and the city of Chicago.

The Neighborhood Hotel

Chicago, Illinois, United States

September 19, 2023

Ennismore to Open Second Mama Shelter in Los Angeles with the Signing of New Property

Ennismore, the fastest-growing lifestyle hospitality company, and partner Shivom LLC, today announced the signing of Mama Shelter Downtown LA, set to open in 2026. The second Mama Shelter hotel in the city comes following the success of Mama Shelter LA, which opened in May 2015 in Hollywood.

Los Angeles, California, United States

September 18, 2023

Red Roof® Expands its Footprint with the Opening of Three Properties

Red Roof®, the leader in economy lodging, has announced the opening of the Red Roof Inn Atlanta Airport NE – Conley, GA, the Red Roof Inn Madisonville, TX and the HomeTowne Studios Mystic – New London, CT

September 15, 2023

Hyatt Adds Hotels in New Markets with Hyatt Place and Hyatt House Openings Across the U.S.

Hyatt Hotels Corporation (NYSE: H) announced today the continued strategic growth of the Hyatt Place and Hyatt House brands throughout 2023. This growth includes expanding the brand’s footprint in the U.S. in new markets where there are no Hyatt hotels and the thoughtful expansion of airport locations in key markets.

September 7, 2023

LivAway Suites Breaks Ground on Two Properties in Washington and Montana

LivAway Suites™, the rapidly expanding premium economy extended-stay hotel brand, has broken ground on two more properties, located in Richland, WA, at 1289 Tapteal Drive, and Missoula, MT at 3455 W Broadway Street. Both locations are expected to open in 2024. Richland and Missoula are the third and fourth groundbreakings so far this year in the brand’s rapidly growing portfolio.

September 6, 2023

Harbor Country Chamber to Snip Ribbon at The Neighborhood Hotel in New Buffalo, Michigan

New Buffalo, MI Neighborhood Hotels will swing open the doors to their new location, Neighborhood Hotel New Buffalo amidst the charming bustle of the downtown at 18 W Merchant Street. The public is invited to tour the newly remodeled inn at their Open House on Tuesday, September 19th from 5:00 pm – 6:00 pm (EDT). The Harbor Country Chamber of Commerce will perform a ribbon-cutting ceremony at 5:00 pm. Visitors can enjoy complimentary nibbles and beverages as they tour the accommodations.

The Neighborhood Hotel

New Buffalo, Michigan, United States

August 30, 2023

Chicago-Based Oxford Capital Group, LLC Invests in Downtown San Francisco, Debuting Four New Repositioned Hotels This Fall

Demonstrating post-pandemic revival and improving vibrancy in the iconic city of San Francisco, Chicago-based Oxford Capital Group, LLC announces the debut of four rebranded and repositioned hotel properties: Hotel Julian San Francisco (formerly Hotel Vertigo, and originally Empire Hotel), SoMa House (formerly Americania Hotel), Hotel Garrett (formerly Good Hotel), and Hotel Fiona (formerly Carriage Inn), now accepting reservations starting in mid-September and October with introductory pricing. In the Bay Area, Oxford currently owns and operates Hotel Griffon on the Embarcadero, Inn at Union Square and King George Hotel in Union Square, Creekside Inn in Palo Alto, as well as Hotel Los Gatos. Oxford Capital Group’s wholly owned affiliate, Oxford Hotels & Resorts, LLC, will continue to manage these properties post reopening.

Oxford Hotels & Resorts LLC

San Francisco, California, United States

The next-gen metrics that move hotel P&L

Hotel tech has changed what's possible – and measurable. RevPAR and ADR aren't enough; discover the metrics that really matter.

August 25, 2023

Alterra Mountain Company to Expand Deer Valley Resort

Alterra Mountain Company, the world’s premier mountain operating company, has announced a major terrain expansion of Deer Valley Resort that will add 3,700 acres of terrain to its world-renowned, ski-only destination located in the Wasatch Mountains in Park City, Utah. In addition, the development of a new village and portal will dramatically improve access to the resort while adding world-class lodging, dining, and retail amenities in partnership with Extell Development Company.

Alterra Mountain Company

Park City, Utah, United States

August 25, 2023

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.

Nacogdoches, Texas, United States

August 24, 2023

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).

Kemmons Wilson Hospitality Partners (KWHP)

August 23, 2023

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.

August 11, 2023

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.

Caliber Hospitality Trust