Red Roof® Opens HomeTowne Studios Orange, TX.
Red Roof®, the leader in economy lodging, has announced the opening of the HomeTowne Studios Orange, TX.
Development
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.
Choice Hotels' WoodSpring Suites Achieves Brand Milestone with Six Hotel Openings in a Single Month Across the Country
Choice Hotels International, Inc. (NYSE: CHH), demonstrating continued growth in 2022's highest performing category in the entire lodging sector, opened a company record, six WoodSpring Suites hotels during the month of May. These openings, which were led by a dedicated, extended stay team, account for 732 new economy extended stay rooms from coast to coast and 1,414 total new rooms for the brand since the start of 2023, with nearly 38,000 rooms in the domestic pipeline.
Pacifica Hotels Announces Purchase of Kimpton Hotel Vintage Seattle
Pacifica Hotels, the largest owner and operator of boutique hotels along the Pacific Coast, is excited to announce the recent purchase of the Kimpton Hotel Vintage Seattle. The boutique hotel located in downtown Seattle will join the company’s growing portfolio of 40 plus properties currently located across California, Hawaii, and Oregon.
Hyatt Regency Brand Sustains Thoughtful Growth in Key Markets with Debut of Hyatt Regency Baytown-Houston and Hyatt Regency Conroe in Texas
Hyatt Hotels Corporation (NYSE: H) announced the continued expansion of the Hyatt Regency brand in the U.S. with the recent openings of two Houston-area hotels: Hyatt Regency Baytown-Houston and Hyatt Regency Conroe. Both hotels debuted this month and feature contemporary design, versatile indoor and outdoor meeting and event space, more than 200 modern guestrooms, and regionally inspired onsite dining options. With a total of 13 Hyatt Regency properties across Texas, the intentional growth of the Hyatt Regency brand with these full-service hotels further showcases Hyatt’s commitment to offering travel experiences in places that matter most to guests and World of Hyatt members.
OUTRIGGER to Acquire Kā‘anapali Beach Hotel on Maui
Premier beach resort company OUTRIGGER Hospitality Group today announced its plans to acquire Kā‘anapali Beach Hotel, a beachfront resort on the Island of Maui, renowned as “Hawaii’s Most Hawaiian Hotel.” It is located on the golden sands of world-famous Kā‘anapali Beach, which was recently ranked as the No. 1 Beach in the U.S. and No. 10 Beach in the World by TripAdvisor. The property spans 11-acres with 432 rooms.This transaction is expected to close on July 26, 2023 at which time the property will be rebranded as OUTRIGGER Kā‘anapali Beach Resort. The purchase price is not being disclosed.“From Maui to Maldives, OUTRIGGER is bullish about our mission to be The Premier Beach Resort Company in the World, simultaneously elevating our current assets and strategically adding complementary resort products to our global portfolio,” said Jeff Wagoner, President and CEO of OUTRIGGER Hospitality Group. “OUTRIGGER’s investment in a full-service Maui resort underscores our confidence in this iconic destination and our commitment to its community.”The global hospitality brand was founded in Hawaii 75 years ago and has deep expertise in this market; OUTRIGGER currently owns and/or operates 26 resorts, hotels and vacation condos throughout the island chain – including seven condominium resorts on Maui. In the last two years alone, OUTRIGGER added five premier beach resorts to its portfolio, including OUTRIGGER Kona Resort & Spa on Hawaii Island, as well as three properties in Southern Thailand and a five-star resort in the Maldives.The award-winning Kā‘anapali Beach Hotel recently completed a US$75 million property-wide renovation spanning two of the guestroom wings. The property offers a dozen Hawaiian cultural classes for guests alongside abundant ocean activities such as outrigger canoe paddling and snorkel tours. Additionally, Kā‘anapali Beach Hotel is employing several high-impact sustainability initiatives, including the installation of solar panels, charging stations for electric vehicles and water refill stations.These efforts have not gone unnoticed; last year, readers of Condé Nast Traveler named Kā‘anapali Beach Hotel the No. 4 Top Resort on Maui and readers of Hawaii Magazine voted it the No. 1 Hotel Statewide.“With its pristine location along a three-mile stretch of sand, deep cultural connections and authentic Hawaiian hospitality, Kā‘anapali Beach Hotel has tremendous synergy with the OUTRIGGER brand; we are honored for the opportunity to become stewards of this coveted property,” Wagoner added. “Our intention, once the sale is finalised, is to craft a thoughtful plan to further enhance the resort grounds while retaining unique attributes that guests have cherished for years.”Under the helm of General Manager Mike White since the 1980s, Kā‘anapali Beach Hotel has been a pioneer in preserving and supporting Hawaiian culture – receiving numerous state and national awards for its focus on culture, community service and creating a model of sustainability for the Hawaii tourism industry at large.The link between Kā‘anapali Beach Hotel and OUTRIGGER stretches back three decades with the founding of OUTRIGGER’s values-based management approach, Ke ‘Ano Wa‘a which translates to The OUTRIGGER Way.“When the renowned scholar Dr. George Kanahele and I created the state’s first Hawaiian cultural training course for hotel employees in 1986, OUTRIGGER’s leadership understood and appreciated the value of this curriculum – so, 30 years ago we guided them in creating a version tailored for OUTRIGGER called Ke ‘Ano Wa‘a,” said White. “It’s uplifting to know that this platform of caring for host, guest and place remains intact today and will be a foundation of this exciting next chapter for Kā‘anapali Beach Hotel.”Additionally, as part of this transaction, OUTRIGGER will also take ownership of The Plantation Inn – a charming, 18-room bed and breakfast in historic Lahaina Town, located steps from Maui’s famous Front Street, which has consistently been voted the #1 B&B on Maui. At this time, no changes are planned for this quaint, adults-only accommodation.Travelers can book a room today for OUTRIGGER Kā‘anapali Beach Hotel at www.kbhmaui.com and The Plantation Inn at www.theplantationinn.com, as well as www.outrigger.com for stays from July 26, 2023 forward.OUTRIGGER Kā‘anapali Beach Resort will retain the Lei Aloha platform and also be added to the OUTRIGGER DISCOVERY loyalty programme, which rewards guests with exclusive member rates and DISCOVERY Dollars for staying at OUTRIGGER, as well as more than 800 hotels in the GHA DISCOVERY portfolio.