First Waldorf Astoria in Colorado. Miami-based
developer PMG and Hilton are opening Colorado’s first Waldorf Astoria-branded
property with the 37-key Waldorf Astoria Residences Denver Cherry Creek.
This is the second luxury residential development for PMG and Hilton
after the Waldorf Astoria Residences Miami. Hilton Management Services will
manage the property.
Three new Atwell Suites. IHG’s Atwell Suites is
expanding in the U.S. with new hotels in Kansas City, Missouri,
Henderson, Nevada and Fort Worth, Texas. These additions build upon previously
opened properties in Miami, Denver and Austin, further expanding IHG Hotels
& Resorts’ all-suites, upper-midscale hotel brand. The 104-key Atwell
Suites – Kansas City Airport, owned by Hotel KCI LLC, is now open; the 90-key
Atwell Suites – Henderson at the Pass, operating under the ownership of
DeSimone Cos., is set to open in early November; and the 96-key Atwell
Suites Fort Worth – Alliance Area, owned by Sequoia Hospitality, is also set to
open in November.
BWH enters glamping market. Phoenix-based BWH Hotels
plans to enter the glamping market by launching the Explorer Series as
part of its Premier Collection. The Zion Wildflower at Zion National Park
in Utah is scheduled to open in March 2025 and BWH said it eventually wants to open 200 locations.
Hershey adding select-service hotel. Hersey,
Pennsylvania-based Hershey Entertainment & Resorts is developing a new
137-key select-service hotel called the Hershey Inn & Suites in Derry
Township, Pennsylvania. The new four-story hotel is expected to open in the
spring of 2026 and is currently under construction.
First luxury hotel in Baghdad. Dubai-based Dex
Squared Hospitality has won a contract to develop the World Heart Hotel Brand
and operate Baghdad’s first luxury hotel. The 320-key property will have
285 hotel rooms, 35 suites and 54 luxury apartments. Dex Squared already has a strong
presence in major cities across the MENA region, spanning Dubai, Riyadh, Jeddah,
Cairo, Rabat, and the Red Sea.
US hotels up for week. The U.S. hotel market had
positive year-over-year comparisons for the week of October 13-19, according to CoStar data. Occupancy was 70.1% (up 1.6% YOY), ADR was $169.85
(up 2.5% YOY) and RevPAR was $119.01 (up 4.2% YOY). Among the Top 25 markets, Tampa saw
the largest occupancy lift (+23.6% to 83.7%) due to continued displacement
demand from Hurricane Milton. Miami saw the highest increases in ADR (up 29.9%
to $245.28) and RevPAR (up 35.5% to $179.72). Taylor Swift’s Eras Tour and
Adobe MAX 2024 drove the market’s performance. The steepest RevPAR declines
were seen in Las Vegas (down 19.5% to $192.14) and Denver (down 12.5% to
$105.98).
Oyo expands in the UK. India-based Oyo is opening an
additional 40 hotels in the U.K. through leasehold contracts by the end of the
year. Oyo UK will operate the hotels. The company currently has over 200 hotels
across 65 cities in the U.K. OYO has already onboarded 11 hotels under this
model and plans to add 29 more across London, Birmingham, Manchester, Leeds,
Bristol, Cardiff and Edinburgh.
Millennium & Copthorne adds in NZ. Auckland, New
Zealand-based Millennium & Copthorne Hotels New Zealand has acquired the
67-key Mayfair Hotel Christchurch from Mayfair Luxury Hotels and the Stapley
family for $31.9 million. The transaction is expected to be finalized by the
end of November.
Author: www.hotelinvestmenttoday.com
published 2024-10-24 23:47:06
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