Development

Placemakr Announces a Major Expansion Totaling Over 800 Units and Four New Properties in Texas

Placemakr, a flexible-use hospitality and multifamily operator, today announced a major expansion across Texas with four new property launches, bringing the company's total operations to over 800 units in the state. The expansion includes the acquisition of Placemakr Downtown Austin, formerly named 3Waller, a 259-unit property in the heart of downtown Austin, marking the 6th property acquisition for Placemakr. The expansion also includes Placemakr's first smaller property launch (24 units) as part of a new brand concept, "Hosted by Placemakr." Lastly, Placemakr will also manage its first two exclusively residential properties in Texas. With these launches, Placemakr is investing in Texas as a destination for both work and play, where the tech scene continues to grow.

stayAPT Suites & Powerhouse Hotels Forge Partnership to Expand Presence with 30 New Locations

stayAPT Suites, the innovative apartment-style hotel brand, is pleased to announce a significant expansion initiative in partnership with Powerhouse Hotels, a joint venture between JCap Realty Group and Cullinan Holdings. This collaboration involves signing a multi-unit development agreement, adding 30 new locations to stayAPT Suites' portfolio, and expanding the brand footprint to 25 states over the next five years, with six locations that will break ground in 2024.

Driftwood Capital's Hotel Development Pipeline Exceeds $1 Billion, with $800 Million Worth of Planned Projects Underway In 2024

Following its annual investor conference, Driftwood Capital, a leading vertically integrated commercial real estate firm, is proud to announce its hotel development pipeline has now exceeded $1 billion in projected value. This robust portfolio includes $800 million worth of strategically pursued projects either under construction or scheduled to break ground in 2024, showcasing Driftwood Capital's robust and strategic growth in the hospitality sector.

Hilton Accelerates Multi Brand, Multi Destination Expansion in Canada

Leading global hospitality company, Hilton (NYSE: HLT), continues to accelerate its development efforts in Canada. Following a year of rapid multi brand, multi destination growth with 10 new hotel openings, including the first Canopy by Hilton in Canada, Hilton ended 2023 with 180 open hotels in the country spanning more than 28,000 rooms across 11 brands. With nearly 20 deals signed in 2023, Hilton’s Canada pipeline consists of approximately 90 hotels and more than 11,000 rooms and will introduce Spark by Hilton and Motto by Hilton into Canada in 2024. Hilton will soon surpass 200 hotels in Canada, and plans to increase its portfolio of hotels by 50% over the next several years.

Hotel Equities Selected by Beechwood Pinnacle to Manage New AC Hotel by Marriott Kansas City in Historic Rialto Building

Yesterday, Hotel Equities, (“HE”) announced they have been selected by Beechwood Pinnacle to operate the highly anticipated AC Hotel, situated in the historic Rialto Building at 906 Grand Blvd, in downtown Kansas City. Beechwood Pinnacle is the co-owner and developer. With an estimated opening date set for this June, the AC Hotel is expected to bring sophistication and luxury to the iconic location.