H&LA’s Adam Zarczynski attended the Hunter Hotel Investment Conference in Atlanta in March. Here are some key highlights from the conference.
Our team at Cogwheel Marketing attended the 2023 annual Hunter Hotel Investment Conference for a consecutive year and we wanted to be sure to share with our network the 10 Key Takeaways we extracted after packing in 3 days of education, collaboration and relationship building with hotel industry experts.
Denver, CO-based Evermore Partners (Evermore), a commercial real estate investment firm, and Ridgefield, CT-based New Castle Hotels & Resorts (New Castle), a leading hotel owner and operator, have acquired the Montana Marriott Portfolio - a 105-key AC Hotel by Marriott, a 175-key Residence Inn by Marriott, and The Mercantile, a collection of approximately 20,000 square feet of high quality, in-line retail located in downtown Missoula, Montana.
Officials of the California Lodging Investment Conference [CLIC], the only hospitality conference focused on the California hotel market, today announced the successful conclusion and follow-up survey results for its sixth annual event held at the Westin South Coast Plaza in Costa Mesa, Calif. With over 250 attendees, the opening reception followed by a one-day event hosted multiple panels led by industry experts discussing the California hotel real estate market in depth.
Rockbridge and Aparium Hotel Group, both known for creating one-of-a-kind, hyper-localized hotels and restaurants around the country, are pleased to announce the acquisition of the Heathman Hotel. Aparium Hotel Group has assumed management of the hotel. The property, located in the heart of downtown Portland, OR, currently features a lobby library lounge and more than 3,800 square feet of meeting space including a sky-lit 2nd floor mezzanine. A comprehensive renovation and reposition of the iconic Heathman Hotel will cement the hotel's status as the leading offering in the Portland market, while also launching a new flagship ground floor restaurant and bar along with an additional bespoke cocktail bar.
Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today announced that it has maintained the forward momentum it experienced in 2022 as evidenced by multiple factors, including industry leading RevPAR Index growth, numerous awards and overwhelmingly positive results from stakeholder satisfaction surveys.
Officials of the former Banyan Investment Group today announced that the firm is rebranding as Satori Collective, an investment management firm focusing primarily on hotel property investment. Additionally, the company has spun off its property management platform to become Aperture Hotels, an independent, third-party hotel management company. Moving forward, Satori and Aperture will work independently of one another.
Another exceptional Hunter Conference is in the rearview mirror, with much thanks to Lee Hunter and his team, as well as the Atlanta Marriott Marquis, for pulling off a terrific event. Never a dull moment in the hotel industry, which is why many of us never leave the sector, with attendees having such varied opinions on how this year may play out.
In a joint venture, Dallas-based NewcrestImage and Phoenix-based Hospitality Capital Partners (HCP) have acquired 16 hotels with a total of 2,155 rooms for $137.3 million from Service Properties Trust, a Massachusetts-based REIT. The transaction was handled by Al Calhoun and Mark Fair at CBRE in Atlanta.
Magnuson Hotels announces the Regency Inn Hondo as the latest addition to the Magnuson Hotels Independent Collection portfolio. This complements the group’s strategic growth plans to onboard distinctive hotels offering exceptional value in key cities across the country.
Extended Stay America announced today that it entered into an agreement with BASK Development for eight new Extended Stay America Premier Suites located throughout major markets in Florida.
Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today announced the continued expansion of its innovative ECHO Suites Extended StaySM by Wyndham brand, which in just one year, now has more than 200 hotels in its development pipeline.
Highgate, a leading hotel management, investment and development company, and Flynn Properties, a San Francisco-based owner of luxury resorts, commercial real estate and select service hotel properties in America and abroad, today announced the acquisition of The Huntington Hotel. Located in San Francisco’s Nob Hill neighborhood, the storied property has long been a nostalgic symbol of a bygone era, having originally been constructed in 1924 as the first steel and brick high rise west of the Mississippi.
Red Roof®, an award-winning leader in the lodging industry, will open 50 properties — new builds and conversions — in 2023, representing 60 percent year on year growth. The company attributes this strong growth to continued demand for the brand.
DelMonte Hotel Group, an award-winning hotel management and development company headquartered in Rochester, New York, has acquired the Moxy Chattanooga Downtown. Currently located in Chattanooga's flourishing Southside neighborhood, Moxy Chattanooga Downtown offers ample opportunity to work hard and play hard during visits to the Scenic City with access to the best ships, dining, entertainment and nightlife activity. Additionally, it is a short drive from the Chattanooga Convention Center.
The St. Joe Company (NYSE: JOE) (“St. Joe”) anticipates completing and opening five new hotels in the first half of 2023. These hotels include The Lodge 30A, an 85-room boutique hotel located on Scenic Highway 30A that opened in February. Over the next four months the Company anticipates opening the 255-suite Embassy Suites by Hilton Panama City Beach Resort; the waterfront 124-room Hotel Indigo Panama City Marina; the 107-room Home2 Suites by Hilton Santa Rosa Beach; and Camp Creek Inn, a 75-room boutique hotel overlooking Camp Creek golf course. Once complete, these properties will more than double the number of available hotel rooms in St. Joe’s portfolio, from 531 to 1,177 rooms.
Magnuson Hotels today announced the addition of Wafer 450 to its Independent Collection portfolio. The 31-room hotel located in Santa Clara is the fourth property added to Magnuson Hotels by California’s Stay Cal Hospitality since 2020, and the 19th hotel the group represents in California.
It’s a difficult lending environment across the nation at the moment, but RevPAR is expected to continue to rise in the foreseeable future, particularly supported by ADR growth. Debt, while very expensive, is available, and one lesson learned from the pandemic is the importance of sponsorship, including relationships with the brands.Below is the SWOT analysis for the U.S. hotel real estate and investment industry as outlined at the GF Hotels Forum in Towson, Maryland.
RLJ Lodging Trust executives said a strong balance sheet gives the company multiple investment levers to potentially pull this year.
Hotels are a vital part of New York City’s economy, accounting for approximately $13 billion of revenue per year. In recent years, however, the City Planning Commission has adopted certain amendments to New York City’s Zoning Resolution in an attempt to curtail hotel development. These changes have been top-of-mind for owners and developers involved in the New York City hotel real estate market.