Peachtree Group (“Peachtree”), a diversified commercial real estate investment firm, announced it has closed approximately $660 million in credit investments since Dec. 1, 2023, with an additional $350 million anticipated closing over the next 30 to 45 days.
Veteran of the hospitality industry, Steven Ellingsen, has inaugurated the Somnium Hospitality Group, a comprehensive, multi-brand approved enterprise for hotel and asset management, where he fulfills the role of president and founder. This new venture, headquartered in Chicago, encompasses an array of properties such as branded hotels, full-service resorts, golf courses, and boutique establishments, and marked its official beginning on January 1st.
Officials of the Hunter Hotel Investment Conference (“HUNTER”) today announced a new session in this year’s programming. Titled “A Conversation with Ed Bastian,” the session will feature a captivating dialogue between Ed Bastian, chief executive officer, Delta Air Lines, and interviewer Greg Friedman, managing principal and CEO, Peachtree Group. This session will merge the distinct perspectives of a prominent figure in travel and a seasoned hotel owner, offering insight into Bastian’s leadership approach steering the world’s premier international airline. Rooted in principles of prioritizing people, ensuring customer satisfaction and driving innovation, the conversation will also delve into the future landscape of travel and its implications for hospitality industry.
Officials of the Hospitality Asset Managers Association (“HAMA”) today announced that Khoa Tang of The Pennsylvania State University and Angelina Zhang of New York University were chosen as the winners of the 18th Annual HAMA Student Case Competition. The respective graduate and undergraduate winners were selected from among 30-plus individual and team entries focused on one of three possible case studies based on a real scenario experienced by one of the HAMA members. The case studies included:
B&B HOTELS, Europe’s fastest growing midscale hotel brand, is thrilled to announce its much-anticipated U.S. debut with the opening of its first hotel in Orlando, Florida. This landmark expansion brings B&B HOTELS' innovative approach to hospitality to the U.S., marking a significant milestone in the brand's growth journey.
Choice Hotels International, Inc. announces the opening of Cambria Hotel Burbank Airport. The new hotel offers 150 well-appointed rooms, a host of upscale amenities and is conveniently located just a mile from Burbank airport and a short distance from West Hollywood and Beverly Hills. The Burbank property was developed by Choice Hotels as part of its strategic development of Cambria hotels in well-situated markets, reflecting the company’s commitment to growing and expanding the brand. The company continues to invest in all aspects of Cambria to make it a standard-setting brand in its upscale portfolio.
IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, welcomes guests to experience a relaxed and purposefully different stay – where quality meets affordability. Garner hotels – a new midscale brand made with character – reaches exciting growth milestones with two new U.S. openings in Macon, Ga., and Oklahoma City, Okla., as well as plans for global expansion now underway.
The Hunter Hotel Investment Conference (“HUNTER”) is thrilled to highlight the past and future icons of our industry with a session devoted to legacy as the event celebrates its 35th anniversary this coming March. The session will showcase a captivating fireside chat with Anthony Capuano, President and CEO of Marriott International, interviewed by Mitch Patel, CEO of Vision Hospitality Group. This intimate discussion, which combines the perspectives of a major brand leader with a seasoned hotel owner and developer, is one of the many additions to HUNTER’s 2024 program.
Retreat Hotels & Resorts (“Retreat”), the Georgia Agricultural Exposition Authority (“GAEA”), and the City of Perry, GA announced the start of construction of a new TownePlace Suites / Fairfield by Marriott dual-branded hotel on the Georgia National Fairgrounds & Agricenter (“Fairgrounds”) in Perry, GA. The hotel is expected to open in the summer of 2025.
Crawford Hoying has announced the acquisition of Courtyard by Marriott Hamilton in partnership with award-winning international hotel owner, operator and developer, Shaner Hotel Group (Shaner). This will be Crawford Hoying’s first hotel in Hamilton, Ohio and fifteenth hotel in the company’s portfolio.
As exclusive advisor, RobertDouglas announced today that it successfully refinanced Chartwell Hospitality’s Hilton Franklin Cool Springs in Franklin, TN, one of Nashville’s most prominent submarkets. RobertDouglas secured roughly $38,000,0000 of short-term, fixed-rate financing at highly attractive pricing from an institutional, balance sheet lender.
At the dawn of 2024, a U.S presidential election looms amidst numerous geopolitical challenges including two major ongoing wars in Europe and the Middle East which threaten global economic growth. The good news is, thus far it appears the U.S. economy has avoided recession with many now perceiving continued growth, albeit subdued. Inflation has cooled, the economy continues to add jobs, interest rates appear to have peaked and are anticipated to gradually decline for the next two years. Furthermore, a roaring stock market continues to fuel American consumer expenditures resulting in strong demand for travel including lodging.
According to the year-end Lodging Econometrics (LE) Construction Pipeline Trend Report for Canada, the country ended 2023 at 294 projects/38,396 rooms, a mere 11 projects short of the country’s peak of 305 projects achieved in Q4 2019. Canada’s pipeline is up 10% by projects and 7% by rooms, year-over-year (YOY).
Coast Hotels Limited, a fully owned subsidiary of APA Hotel Canada, Inc. and one of North America’s fastest-growing and one of Canada’s largest hotel brands, is pleased to announce the addition of two new franchise properties in historic and vibrant downtown Dawson City, Yukon. The introduction of Eldorado, a Coast Hotel, and Midnight Sun, a Coast Hotel, marks a significant milestone in Coast Hotels commitment to providing exceptional accommodations in unique and culturally rich destinations.
In the ever-changing landscape of the U.S. hospitality industry, the Q4 2023 U.S. Construction Pipeline Trend Report by Lodging Econometrics (LE) sheds light on dynamic trends across key markets.
As 2024 begins to unfold, Accor is continuing to meticulously expand the brands within its Luxury & Lifestyle division to meet the world’s accelerating demand for high-end and culturally relevant travel experiences. With estimates showing global luxury travel spend will reach $2.32 trillion by 2030, Accor is perfectly positioned with a portfolio of 370+ luxury hotels and 150+ lifestyle hotels worldwide as well as a robust development pipeline. Accor will open another 100 luxury and lifestyle hotels over the next two years, with expectations of at least 50 new luxury and lifestyle project signings per year.
According to the 2023 year-end U.S. Construction Pipeline Trend Report from Lodging Econometrics (LE), the pipeline stands at 5,964 projects/693,963 rooms. The pipeline hit record project counts at Q4, with the addition of 260 projects and 21,287 rooms over last quarter, and a 9% increase by projects and a 7% increase by rooms year-over-year (YOY). The previous project count high was Q2 2008 with 5,883 projects.
Yesterday, Hard Rock International in partnership with Pointe Vista Holding Company announced development plans for the Hard Rock Hotel at Lake Texoma and The Residences at the Hard Rock Hotel Lake Texoma. Set to begin construction in March 2024, the Hard Rock Hotel and Residences will be located within the Pointe Vista development, joining a 2,700-acre master-planned resort community featuring over 19 miles of shoreline, a golf course, enclosed waterpark, family entertainment center, amphitheater, casino and more. The project is expected to create over 9,000 jobs in the area.
Industry veteran Carmen Almos today announced the launch of Ashburton Hospitality, a full-service consultancy firm focused on asset management. The firm began initial operations in 2023 and already has amassed a portfolio that includes nine hotels across brands such as Hilton, Marriott and IHG.
Leading hotel management company PM Hotel Group today announces a strategic alliance with TQP Capital Partners, led by industry innovator Thomas Prins, to enhance and accelerate its business development platform. The primary focus of the partnership is to capitalize on Thomas Prins’ vast experience and industry insights to identify and pursue valuable new business opportunities for PM Hotel Group. TQP Capital Partners will play a pivotal role in the continued expansion of the PM Hotel Group portfolio, leveraging Prins’ deep understanding of the industry on the company’s behalf.