A first for newcomer. Oxygen Hospitality Group has acquired The Ivy Palm Resort & Spa in Palm Springs, California. The 4-building, 2-story, 100-room independent, boutique hotel is the first acquisition of Arizona-based Oxygen Hospitality, a real estate investment and management company looking to grow a portfolio of branded and independent hotels in the Sun Belt and other U.S. destinations. Following minor property renovations with extensive asset management restructuring, Oxygen Hospitality will implement a second phase redevelopment plan to transform the property into a hip, tech-forward boutique hotel.
Faena has vision. Alan Faena, in partnership with business entrepreneur Len Blavatnik, have announced plans to launch a new company to expand the mission of Faena Group by developing master-planned communities, residential and hospitality projects, retail concepts and a lifestyle brand extension line of products in select urban and resort markets around the world. The brand currently has hotel properties in Buenos Aires and Miami. Benjamin Sinclair, a founding member of the Faena Miami Beach team, has been appointed chief business development officer to spearhead the effort.
White Lodging deal. The 311-room Marriott Nashville Hotel at Vanderbilt University has been acquired by an affiliate of White Lodging Services Corp. The hotel recently completed a major renovation and will undergo a further renovation and re-concepting of the restaurant, lounge and meeting space in the next 12 months.
April hot at US hotels. Total revenue levels at hotels in the U.S. hit a high of almost US$290 per available room in April, as strong year-on-year revenue increases were recorded across all operating departments, according to the latest worldwide poll of full-service hotels from HotStats. The TrevPAR measure encompasses the revenue generated across all operating departments at hotels in the U.S., which this month was led by a 5.6% year-on-year increase in revenue in the rooms department, as well as growth in non-rooms revenues, including food/beverage (+8.4%) and conference/banqueting (+11.6%) on a per available room basis.
Wynn slapped. Massachusetts gaming regulators were upset with an attorney for Encore Boston Harbor on Thursday after learning the company failed to disclose an agreement with Steve Wynn outlining the details of the former CEO’s separation from the company. “This license is about a relationship, and right now we’re conducting a review of that. What was disclosed, when, why things weren’t disclosed,” said Commissioner Gayle Cameron.