Development USA & Canada Press Releases - Hospitality Net

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March 14, 2023

Delmonte Hotel Group Acquires Moxy Chatanooga Downtown

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.

DelMonte Hotel Group

Chattanooga, Tennessee, United States

March 10, 2023

The St. Joe Company Plans to Open 5 New Hotels in the First Half of 2023 Adding 646 Keys to Portfolio

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.

The St. Joe Company

March 9, 2023

Magnuson Hotels Independent Collection welcomes Wafer 450 in Santa Clara California

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.

Magnuson Hotels

Santa Clara, California, United States

February 23, 2023

Aspen Hospitality Forms Strategic Joint Venture With Continuum Partners

Continuum Partners LLC, a Denver-based real estate developer specializing in building urban, mixed-use projects, announced today that it has sold an interest in the Hotel Born to Aspen Hospitality, the hospitality division of Aspen Skiing Company. The newly formed joint venture marks the beginning of the hotel's future conversion to Limelight Denver under the operation of Aspen Hospitality in 2023. Rick Rush of CBRE represented Continuum in the deal. Hotel Born will continue to operate as usual until the conversion to Limelight occurs, with the partners ensuring a seamless transition for hotel staff and booked guests.

Aspen Hospitality

Denver, Colorado, United States

February 15, 2023

Magnuson Hotel Ironwood and Ironwood Indianhead open in Michigan

Magnuson Hotels has announced the addition of two stellar properties within the Penokee Range in Upper Peninsula Michigan, making a total of 17 Magnuson Hotel locations in Michigan today.

Magnuson Hotels

Michigan, United States

February 15, 2023

5 Senses Hospitality Invests in the Waters Hotel, Tapestry Collection By Hilton®

Denver-based hotel company 5 Senses Hospitality has announced their substantial investment in The Waters Hotel, Tapestry Collection by Hilton®. 5 Senses Hospitality has been actively managing the property since early 2022. Under the management of 5 Senses Hospitality, The Waters Hotel received the honor of being named the “Best Hotel in Arkansas” by AY Magazine.

5 Senses Hospitality

Hot Springs, Arkansas, United States

February 14, 2023

Chartwell and Southstar Break Ground on $500M Mixed-Use Aureum Project in Franklin, Tennessee

Chartwell Hospitality, in a joint venture with co-developer Southstar, broke ground on their $500 million Aureum Project. Aureum is a 22-acre mixed-use project that will offer residents unique living, working, and entertainment options in one premier location known as the “Golden Corner” of Franklin, TN.

Chartwell Hospitality

Franklin, Tennessee, United States

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Hospitality Net

February 10, 2023

LuxUrban Hotels Inc. Signs Master Lease Agreements for the O Hotel in Los Angeles and 101 Bogart Street in Brooklyn, New York

LuxUrban Hotels Inc. (Nasdaq: LUXH) (or “the Company”), which utilizes a long-term lease, asset-light business model to acquire and manage a growing portfolio of short-term rental properties in major metropolitan cities, announced today that it has signed separate, multi-year Master Lease Agreements (MLAs) to operate two short-term stay hotels: The O Hotel in downtown Los Angeles, CA via a 20-year MLA, inclusive of options; and 101 Bogart Street in Brooklyn, NY via a 10-year MLA.

LuxUrban Hotels Inc.

February 9, 2023

Azora Strengthens Its Position in the U.S. With $78 Million Commercial Portfolio Acquisiton

Azora, through its subsidiary Azora Exan, has strengthened its position in the U.S. market by executing a number of transactions in the residential and commercial sectors in 2022, bringing its total investment to more than $450 million last year.

February 2, 2023

Canada Ends 2022 with Record Project Counts in the Early Planning Stage of the Hotel Construction Pipeline

According to the Q4 2022 Hotel Construction Pipeline Trend Report for Canada by Lodging Econometrics (LE), LE analysts report that Canada’s total construction pipeline stands at 267 projects/35,758 rooms, up 2% by projects and 1% by rooms year-over-year (YOY).

Lodging Econometrics

January 26, 2023

Marriott, Hilton, and IHG Close Q4 2022 with Largest Projects Counts in Every Stage of the U.S. Construction Pipeline

As reported in the fourth quarter United States Construction Pipeline Trend Report from Lodging Econometrics (LE) for 2022, the franchise companies with the largest construction pipelines at the end of Q4 are led by Marriott International (Marriott) with 1,490 projects/180,113 rooms. Following Marriott is Hilton Worldwide (Hilton) with 1,378 projects/154,790 rooms and InterContinental Hotels Group (IHG) with 789 projects/78,951 rooms. Combined, these three companies account for 67% of the projects and 64% of the rooms in the total pipeline.

Lodging Econometrics

January 25, 2023

Dallas is Tops with the Largest Hotel Construction Pipeline in the U.S. and Record-High Project Counts at the Close of Q4 2022

According to the fourth quarter United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the U.S. market with the largest hotel construction pipeline by projects is Dallas with a record high count of 176 projects, accounting for 20,790 rooms. Following Dallas is Atlanta with 145 projects/18,100 rooms, Los Angeles with 122 projects/19,419 rooms, Phoenix with 116 projects/16,229 rooms, and Nashville with 106 projects/14,198 rooms.

Lodging Econometrics

January 23, 2023

50-Year Industry Veteran Introduces Resolute Road Hospitality, New Third-Party Management Services Company

Hotel industry veteran Eric Danziger has launched a new company called Resolute Road Hospitality. The company, which was previously known as Braintree Hospitality, aims to rebrand and expand into national third-party management services. According to Danziger, the company promises to act as a true partner, advocate, and fiduciary to hotel owners, by providing the focus, attention, accessibility, and transparency that owners are entitled to but often lack. The company's current portfolio includes 15 properties with 1,732 guest rooms, and a robust growth pipeline.

Resolute Road Hospitality

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January 23, 2023

Project and Room Counts in All Stages of the U.S. Hotel Construction Pipeline Increase Year-Over-Year at Q4 2022 Close

In the most recent Construction Pipeline Trend Report for the United States (U.S.) from Lodging Econometrics (LE), at the close of 2022’s fourth quarter, the U.S. construction pipeline stands at 5,465 projects/650,626 rooms, up 14% by projects and 12% rooms Year-Over-Year (YOY).

Lodging Econometrics

January 20, 2023

She Has a Deal Announces SHaDPitch Today’s Woman Completes Hotel Acquisition

Officials of She Has a Deal (SHaD), a real estate investment platform that creates new pathways to hotel ownership and development for women, today announced that 2022 SHaDPitch Today’s Woman competitor, Amina Gilyard James, acquired the 70-room Quality Inn in the Raleigh neighborhood of Memphis, Tenn.

January 19, 2023

Fred Cerrone, Founder and Chairman of Hotel Equities, Presented Hunter Conference Award for Excellence and Inspiration

The Hunter Hotel Investment Conference is pleased to present Fred Cerrone, Founder and Chairman of Hotel Equities, with the 2023 Hunter Conference Award for Excellence and Inspiration. Each year, the award recognizes a hotelier who exemplifies exceptional leadership, citizenship, and innovation. From his start as a desk clerk at the Sheraton Boston hotel more than five decades ago to the founding of Hotel Equities, Cerrone has been a leader that all in the hospitality industry can admire.

Hunter Hotel Advisors and Hunter Hotel Advisors

January 18, 2023

Industry-leading Hospitality Real Estate Company Announces Official Launch Of Third-Party Property Management

Pineapple Hospitality, a Pacific Northwest based real estate holdings company most notably recognized for its ownership and management of the Staypineapple brand of hotels, is announcing the launch of Staypineapple Hotels Inc. as of January 17, 2023. Staypineapple Hotels Inc. will take over the management of all 10 Staypineapple hotels across the United States, as well as open the doors for third-party licensing and property management.

Staypineapple Hotels Inc.

January 17, 2023

Sandpiper Lodging Trust Announces Acquisition of 5 Extended Stay Hotel Assets

Sandpiper Lodging Trust (SLT) announced today that it completed the acquisition of five operating hotels from affiliates Sandpiper Hospitality III, LLC and Sandpiper Hospitality IV, LLC that operate under the WoodSpring Suites brand. These five properties are located in White Marsh, MD, Greenbelt, MD, Virginia Beach, VA and two in Baton Rouge, LA.

Sandpiper Hospitality

January 17, 2023

CBRE Arranges Sale of 65-Property Hotel Portfolio worth $514 Million

CBRE has arranged the sale of a 65-property, 7,865-key hotel portfolio located across 27 states. Massachusetts-based REIT, Service Properties Trust, sold the portfolio to 21 separate buyers for a total consideration of approximately $514 million.

January 12, 2023

Mission Hill Hospitality Acquires Holiday Inn Steamboat

Mission Hill Hospitality, a leading select service and extended stay hotel investor, announced it has acquired the Holiday Inn Steamboat, a 117-key hotel in Steamboat Springs, Colorado. Terms of the deal are undisclosed.

Mission Hill Hospitality and KSL Capital Partners, LLC

Colorado, United States