ENNISMORE ADDS MONDRIAN IN MEXICO: Ennismore, the London-based hospitality company, has signed a Mondrian Hotels & Residences project with Inzigna Capital in Tulum, Mexico. Slated to open in 2025, Mondrian Tulum Hotel & Residences will be the country’s second Mondrian, following last year’s opening of Mondrian Mexico City in 2022. Mondrian Tulum Hotel & Residences will include 64 rooms with four dining venues, a spa, a fitness center and an outdoor pool. The residential portion will feature 151 units, ranging from three-bedroom townhouses to four-bedroom Casa VIP. Residents will be able to access the hotel’s wellness facilities. Inzigna Capital is the property’s developer and sponsor. This property will complement Ennismore’s recent signing of JO&JOE Tulum. Ennismore plans to open around 30 hotels this year.
REGIS TO RIVIERA MAYA: St. Regis Hotels & Resorts, part of Marriott International, has opened The St. Regis Kanai Resort, Riviera Maya in Mexico. The resort is inspired by the neighboring 620-acre Sian Ka’an Reserve and is owned by Grupo Alhel. The St. Regis Kanai Resort, Riviera Maya, comprises 124 rooms and 19 suites, including a 2,300-square-foot presidential suite with ocean views and a private terrace or plunge pool. The resort features eight dining venues, a spa, a children’s club and more than 50,000 square feet of event space across six meeting spaces. Edmonds International, a Mexican architectural firm, designed the exterior, and Chapi Chapo Design created the interior. The resort features a circular exterior design inspired by the Pleiades constellation and offers ocean views. The resort is suspended over a mangrove forest and was designed with a minimal construction footprint.
SPRING BREAK TRAVEL IMPROVES U.S. PERFORMANCE: Hotel performance in the U.S. improved from last week, boosted by the onset of spring break travel, revealed STR’s data through March 11.
- Occupancy: 64.7% (+2.8%, -7.5%)
- ADR: $158.20 (+8.1%, +16.6%)
- RevPAR: $102.38 (+11.1%, +7.8%)
Among the top 25 markets, Washington, D.C., posted the highest YOY increase in occupancy (+21.8% to 67.6%). No other top 25 markets saw an occupancy increase in 2019. D.C. also showed the most substantial ADR (+23.4% to $183.86) and RevPAR growth (+50.2% to $124.33) YOY. Anaheim saw the highest ADR (+51.4% to $245.62) and RevPAR (+42.2% to $189.81) rises over 2019. The steepest RevPAR declines were reported in San Francisco (-22.8% to $144.02) and Minneapolis (-15.2% to $61.44). YOY, San Diego (-16.1% to US$61.99) posted the highest decline in RevPAR.
CITIZENM SECURES DUAL-CURRENCY SSL: citizenM has secured a dual currency Sustainability Linked Loan (SLL) worth €243.3 million ($260.59 million) and £201.7 million ($244.57 million), facilitated by HSBC UK and HSBC Continental Europe, ABN Amro Bank, N.V. and Aareal Bank. citizenM has refinanced its existing debt as an SLL and tied its funding to specific ESG targets. The completion of the deal will make the company one of the first European hospitality firms to adopt the SLL financing structure. Currently, citizenM operates 31 hotels globally across nine countries and has 14 more in development.
NORWAY’S WENAASGRUPPEN SELLS 10 HOTELS IN RUSSIA: Wenaasgruppen, the Norwegian family-run company which owns the Radisson Collection and Radisson Blu Sobieski hotels in Warsaw, Poland, has exited the Russian market by selling 10 hotels in the country for €200 million ($214.21 million) or €49,000 ($52,483.4) per room. The buyer was the Russia-based Cosmos Hotel Group belonging to the Sistema Group holding. The deal includes six hotels in St. Petersburg, two in Moscow, one in Ekaterinburg and one in Murmansk. The acquisition also includes nine Radisson-branded hotels. The transaction adds 4,078 rooms to Cosmos Hotel’s portfolio, which currently runs around 20 hotels in Russia.