The DJIA fell 39 points while Nasdaq was down 175, the S&P 500 fell 33 points and the 10 year treasury yield was down .11 to 3.69%. Either investors did not like Membership Collective Group’s earnings report, their management changes or both but the stock got crushed today, down -19%. Lodging stocks were modestly lower on the day with the only other mover of note being VCSA, down -6%.
STR reported US lodging data for the week ended 11/12. US RevPAR was up 19.4%, year over year. When compared with the same week in 2019, RevPAR was up 18%.
The Development Review Committee for Pompano Beach, Florida, is considering the site plan for a 1.1-acre property for which MHG Hotels proposed a Homewood Suites by Hilton hotel. The hotel would feature 163 rooms, a 185-space parking garage, a pool and amenity deck on the fifth floor featuring a fitness center and an activity lawn. The ground level would feature a patio lounge.
Following an extensive top-to-bottom renovation, The Mills House, located in Charleston, South Carolina, is now complete. The property, now a Curio Collection by Hilton Hotel, features fully redesigned guest rooms, new suites, a rooftop bar, pool and two new eateries.
Loop 281 Lodging Group plans to build its sixth local hotel across from Longview High School in Longview, Texas. The total development will consist of a Marriott TownePlace Suites hotel and a location for a future restaurant. The hotel will have an outdoor pool, large fitness center and electric vehicle charging stations. It will be the first Marriott extended stay property on that side of town. Construction is expected to begin next year.
IHG Hotels & Resorts announced the opening of its newest Holiday Inn Express & Suites in Charleston, South Carolina, following an extensive conversion and renovation. The 153-room Holiday Inn Express & Suites Charleston DWTN – Westedge features 700 square feet of meeting space, a business center and a pool. The property is owned by Charleston Hotel Owner LLC and managed by Northpointe Hospitality Management.
Mainsail Vacation Rentals has expanded its portfolio to include four luxurious condominiums at The Maison, a prestigious, private enclave on Islamorada in the Florida Keys, owned by Heaton Companies. Each spacious four-bedroom, 4 ½ bath residence is more than 3,200 square feet. The gated property’s amenities include an resort-style pool, a community day dock, private enclosed garage, private elevator, and 350 feet of private sandy beachfront. Through a strategic partnership with Homes & Villas by Marriott, Mainsail Vacation Rentals enjoys unparalleled exposure throughout Marriott’s global distribution channels.
According to Amber Asher, Standard International’s CEO, growth is a part of a long-term plan to bring the Standard chain to more locations in Europe and Asia as well as to enter Latin America. In late 2021, the company opened the Standard Hua Hin in Thailand, followed by the debut of the Standard Ibiza and the Standard Bangkok Mahanakhon. These new locations joined five existing Standard properties, two in New York and one each in Miami Beach, London and the Maldives. In the pipeline are projects under development in Austin, Texas; Brooklyn, New York; Brussels; Dubai; Dublin; Lisbon; Mexico; and Singapore. In addition to a robust pipeline for the Standard, the company’s Bunkhouse brand, which comprises of nine boutique hotels and motels across Texas, California, and Mexico, is also in expansion mode. The Hotel Genevieve in Louisville, Kentucky, the tenth Bunkhouse property, is on track to debut next year, and other Bunkhouse openings are slated to follow in Mexico City as well as in the Texas markets of Houston, Fort Worth, and Fredericksburg. In Asia, Standard International is also pursing conversion opportunities via a new brand, the Peri Hotel. The concept made its debut with a pair of Thailand openings in Hua Hin and Khao Yai. A third, which will be the brand’s first new build, is on track to open in Bangkok in 2024. While standard International has its eye on plenty of farther-flung locales, a Los Angeles homecoming is also in the works.
Under Canvas announced the introduction of ULUM; a new, safari-inspired, outdoor resort brand that will welcome guests for stays beginning March 2023. The brand’s first location ULUM Moab, in Moab, Utah, is carefully integrated into 200 acres of stunning desert landscape. The new resort brand experience will offer all-suite, safari-inspired accommodation tents with the amenities of a luxury hotel including: dipping pools, upscale dining, and one-of-a-kind excursions.
Tift Merritt and Daniel Robinson, the owners of Gables Motor Lodging in Raleigh, North Carolina, are about to resume the renovation of the Gables Motor Lodge. The Gables will have 18 rooms under construction. Additionally, it would feature a bar, a funky library and gathering spaces both indoors and outdoors. The owners are hoping for construction to begin early next year.
Membership Collective Group Inc. announced changes to its executive leadership team. Nick Jones, CEO and Board Director of MCG, has announced his intention to transition from CEO to founder as of today. Nick will be succeeded as CEO by current President Andrew Carnie. Carnie has served as President of MCG since September 2020, prior to which he held the position of Chief Commercial Officer from June 2019 to September 2020.
PPHE Hotel Group Ltd. announced that Non-executive Deputy Chairman Kevin McAuliffe will gradually retire. The hospitality real-estate group said that Mr. McAuliffe won’t stand for re-election at the next general meeting and will resigning from the board at the meeting’s conclusion.
Hilton announced the latest addition to its luxury portfolio in the Caribbean and Latin America with the signing of the first Waldorf Astoria Hotels & Resorts property in Costa Rica, Waldorf Astoria Guanacaste. Currently under construction, the new build resort is expected to open in late 2025. Waldorf Astoria Guanacaste will offer 190 guest rooms and 25 Waldorf Astoria branded residences; a holistic wellness center with a gym, movement studio, outdoor yoga and lap and thermal pools; a spa with eight treatment rooms plus three outdoor treatment rooms; and a kids center and teen’s club. The luxury property will offer approximately 10,000 square feet of meeting and event facilities, including indoor and outdoor space, an event lawn and a ceremonial pavilion for weddings. Waldorf Astoria Guanacaste will be managed by Hilton and owned by Revolution, Cacique Investors LLC and Garnier & Garnier. GFG Securities LLC raised equity and debt financing.
Hilton announced the opening of the DoubleTree by Hilton Foz do Iguacu Brazil. The property is managed by Viale de Hoteis, with the national support of Atlantica Hospitality International. The hotel offers more than 260 guest rooms and upscale suites, outdoor pools; heated indoor pool; spa, tennis courts, beach tennis courts, a multi-sport court; and a football 7 court; a fitness center; sauna and steam rooms; two restaurants; three meeting rooms and an outdoor area.
Hyatt Hotels Corporation announced plans for the expansion of Hyatt’s Inclusive Collection to Portugal with Dreams Madeira Resort Spa & Marina, marking the Inclusive Collection brand’s portfolio’s entry into Portugal. Expanded to open once renovations are complete in early 2024, Dream Madeira Resort Spa & Marina will offer guests 10 a la carte restaurants, seven bars, onsite water park, an Explorer’s Club for kids, and an onsite waterpark, Explorer’s club for kids, Core Zone spa. The resort will feature 366 luxury guestrooms and will be operationally managed by Apple Leisure Group, a Hyatt affiliate and owned by an institutional investor that will rely on Okami Hotels for the asset management of the property.
The Metropole Hotel & Spa in Llandrindod, Powys, UK, has been sold to Crest Hotels. The property until recently was under the stewardship of the fifth generation of the family, Justin Baird-Murray and Sarah Hill, who substantially upgraded the 109-bedroom hotel’s facilities and expanded the range of services to offer. Christie & Co brokered the deal.