Graduate Hotels Launches a Short-Term Rental Brand
Skift Take
- The vast majority of lodging company earnings, both REIT and C-Corp, have been very positive, with the REITs being the biggest surprise.
- Crescent Hotels & Resorts has added The Viv, Anaheim, a Tribute Portfolio Hotel, to its Latitudes: Lifestyle by Crescent collection.
- Black Creek Mexico announced that Grupo Alojica completed the Westin Resort & Spa acquisition, in Puerto Vallarta, from affiliates of Marriott Vacations Worldwide.
The DJIA ended Friday with a gain of 77 points, while Nasdaq was down 63, the S&P 500 fell 7 points, and the 10-year treasury yield was up .16 at 2.84% on the strong jobs report. Lodging stocks were modestly lower, although the two big gainers were to the upside. SVC surged 10% on their earnings report. The vast majority of lodging company earnings, both REIT and C-Corp, have been very positive, with the REITs being the biggest surprise. SVC was one of the few big winners on the reports as investors still seem quite skeptical even with return of capital being prominent. The other big gainer on Friday was MCG, up 8%.
Crescent Hotels & Resorts has added The Viv, Anaheim, a Tribute Portfolio Hotel, to its Latitudes: Lifestyle by Crescent collection. Formerly the Radisson Blu, the Southern California property was converted to a hotel within Marriott’s Tribute Portfolio. The Viv, Anaheim, A Tribute Portfolio Hotel features multiple food & beverage options and accommodates corporate meetings and small events with its three event rooms.
Black Creek Mexico announced that Grupo Alojica completed the Westin Resort & Spa acquisition, in Puerto Vallarta, from affiliates of Marriott Vacations Worldwide. Marriott International manages the 280-room beachfront resort. BCM plans for the property to undergo a transformational capital improvement plan, including a comprehensive renovation of all guestrooms and public areas, a re-imagination of the food and beverage offerings, and the enhancement of the hotel’s pool, spa, fitness, and other recreational activities. The Westin Resort & Spa, Puerto Vallarta, features 280 guestrooms and suites, six restaurants and bars, as well as 23,000 square feet of meeting space.
The Sheraton Suites Houston, located in the heart of Uptown Houston, TX, will be rebranded as The Chifley-a Tapestry Collection hotel by Hilton, with an anticipated opening date in November. The rebrand includes a slew of renovations to the 284 suite-style rooms and the 8,000 square feet of meeting space. Included in the hotel’s renovations is a new restaurant and bar. According to The Chifley’s fact sheet, the hotel also offers a year-round outdoor pool and a whirlpool, on-site valet and self-parking, and a fitness center.
Twenty Four Seven Hotels announced the grand opening of the&n
