New economy brand from Accor. AccorHotels is reportedly preparing to launch a new brand called Greet, which is initially intended to attract independent 50- to 70-room economy hotels in France. Not intended to be standard in layout, hotels are expected to include a bar and attractive common areas. AccorHotels told HOTELS on Monday that it could not offer further information at this time.
Equinox makes statement. The long-awaited first hotel from the Equinox fitness brand started further marketing its message on Monday by releasing a highly-produced promotional video starring model Naomi Campbell. Owned by the Related Cos., the first Equinox Hotel is set to open in June 2019 in New York City’s Hudson Yard development. The company has said it wants to open in multiple major U.S. markets and eventually internationally.
Shangri-La’s Jen for Bangkok. A subsidiary of Shangri-La Hotels and Resorts, Hong Kong, has acquired an approximate 30,000 sqft development site in Bangkok from Thailand-based real estate group Sriview International Co. for THB1.9 billion (US$60 million). Shangri-La intends to demolish the existing six buildings and develop a 350-key Hotel Jen.
Aman to Kyoto. Aman has announced its third resort in Japan with the launch of Aman Kyoto, scheduled to open on November 1, 2019. Situated in a hidden garden close to Kinkaku-ji Temple (Golden Pavilion), the resort, with 24 rooms and two two-bedroom villas, draws on the country’s ryokan (traditional inn) and onsen (hot spring) concepts.
Hyatt Centric to Makkah. Hyatt Hotels Corp. has entered into a management agreement with Jabal Omar Development Co. for a Hyatt Centric hotel in Makkah, Saudi Arabia, as part of the Jabal Omar integrated real estate development. Jabal Omar Hyatt Centric Makkah Hotel and Residences will be located in close proximity to the Grand Mosque of Makkah. Slated to open in 2023, the hotel will feature 196 guestrooms and suites as well as 200 residences.
Rotana adds in Iraq. Abu Dhabi-based management company Rotana has signed a agreement with Al Ibaa Co. to take over management of the 284-room hotel now rebranded as Babylon Rotana Baghdad. It will join Rotana’s three operating hotels in Iraq, bringing its inventory to 838 operating keys. In the fourth quarter of 2019, Rotana will open Slemani Rotana, Sulaymaniyah, adding another 240 rooms in Iraq.
Two Radissons for KSA. Radisson Hospitality AB, part of Radisson Hotel Group, has signed two new hotels in Saudi Arabia: the 190-room Radisson Hotel, Makkah Al Rahma and the 150-room Park Inn by Radisson Hotel, Makkah Al Rahma. The new agreements extends an existing partnership with Saudi real estate developer and investor Sulaiman Abdulaziz Al-Rajhi and his real estate development company, Al-Rajhi Investments. The agreements increase Radisson’s portfolio in Saudi Arabia to 43 hotels and more than 10,000 rooms in operation and under development. Both the Radisson Hotel, Makkah Al Rahma and the Park Inn by Radisson, Makkah Al Rahma are scheduled to open in Q2, 2021.
Thomas Cook extends hotel fund. Thomas Cook’s hotel fund joint venture with LMEY Investments, Thomas Cook Hotel Investments (TCHI), has secured its second round of debt funding with €51 million from CaixaBank of Spain. The funding takes the total amount raised in the last three months by TCHI to €91m, following the initial tranche of €40 million from Piraeus Bank. The funds will be used to invest in opportunities in Spain and around the Mediterranean. TCHI has also agreed to acquire a 250-room hotel in the Canary Islands, as well as another 300-room hotel in the Balearics. The seven hotels in the fund now take the total asset value to around €250 million and 2,200 rooms. The fund aims to comprise 10-15 hotels within the next two years. The hotel fund aims to acquire underperforming, distressed and underinvested hotels in Thomas Cook’s core destinations and transform them into own-brand hotels.
More news from Saudi Arabia. Hilton has confirmed three new additions to its 10,000-room Saudi Arabia pipeline. The 156-room DoubleTree by Hilton Abha Al Murooj will be developed in partnership with Mazaya International Co. for Real Estate Development and Investment, while the 430-room Hilton Garden Inn Madinah and 242-room DoubleTree by Hilton Madinah will be developed in partnership with Pan Kingdom Holdings. The hotels are projected to open in 2022.
Fairfield debuts in Japan. Namba Hospitality K.K, a 100% subsidiary of Tokyo-based Pacifica Capital K.K., has signed a franchise agreement with Marriott International to open the first Fairfield by Marriott in Japan. Construction of the 300-room hotel commenced January 2019 and the hotel is expected to open in summer 2020. At completion of construction, Namba Hospitality K.K. will lease the building from the owner and operate the hotel. It marks the first franchised hotel to be directly managed by Pacifica.
Fattal boutique for Tel Aviv. Fattal Holdings is reportedly launching a new boutique hotel in Tel Aviv’s Bachar House office building. The building will be leased to Fattal for 25 years and will undergo a NIS 10 million transformation. The hotel, which is scheduled to open in the second half of the year, will have 26 rooms, five spa rooms and a 250-square meter rooftop space.
Top franchisor pipelines. According to Lodging Econometrics’ 2018 year-end report on leading franchisor pipelines, Marriott International topped the list with 1,498 projects/197,227 rooms; Hilton Worldwide had 1,359 projects/152,060 rooms; and InterContinental Hotels Group (IHG) had 972 projects/98,377 rooms. Sixty-nine percent of the projects in the pipeline derive from these three franchise companies.
Aprirose launches OpCo. London-based real estate investment company Aprirose has launched its own hotel operating platform in conjunction with Kew Green Hotels, Surrey, England, which will provide systems and support while the new service is established. Aprirose’s hotel assets now total 25 under a number of international brands. Its QHotels are undergoing significant asset management and modernization, and include the rebrand of seven of the hotels (five Doubletree by Hilton last year and two Delta by Marriott due in early 2019).
Palisades launches DevCo. Palisades Hospitality Group (PHG), San Rafael, California, the vertically-integrated hospitality brand behind operations and management company Mosaic Hotel Group, has launched Local Framework to act as the development component of PHG. It will oversee all facets of real estate from acquisitions to concept design, development, project repositioning and renovations, programming, and asset management. PHG has tapped co-founder Skylar Skikos to lead the new development firm. Local Framework’s first project is Olema House, located outside San Francisco, and the company has additional projects in development in San Miguel de Allende, Mexico and Napa Valley, Californa.