ActivumSG sells Hard Rock Madrid: A fund managed by the U.K.-based ActivumSG Capital Management has sold the 161-room Hard Rock Hotel Madrid to Arlaes Management for €65 million (US$73.87 million). ActivumSG Iberia Fund I had purchased the former municipal office building in Madrid and converted it into a hotel in July 2021 due to its proximity to the city’s major tourist attractions. Hard Rock International will continue to operate the hotel.
Choice, CPI open 14th hotel: Choice Hotels EMEA continues its agreement with Czech Republic-based CPI Hotels with the opening of their 14th Choice hotel across the Czech Republic and Slovakia, the Clarion Congress Hotel Bratislava. The 175-key hotel features a restaurant and bar, meeting space for 180 attendees and a fitness center. The Clarion Congress Prague, one of the largest conference hotels in Europe, was also recently renovated. The 559-key hotel has the capacity to hold more than 2,500 delegates. CPI Hotels is also working on the opening of the Comfort Hotel Budapest which is slated to open later this year. CPI currently operates more than 30 hotels under several brands.
House committee asks GSA to end Trump lease before sale: The House Oversight Committee has requested the General Services Administration to consider terminating the lease for the Trump International Hotel in Washington, D.C. before the former president’s business can sell it for US$370 million. The Trump Organization allegedly submitted false financial statements to the federal government and the committee said they are likely to amount to a breach of the lease of the Old Post Office, the government-owned building which the Trump Hotel occupies. The sale of the hotel to a Miami-based investment group will help make the Trump Organization a profit of US$100 million, as per a letter from the panel to the GSA. The pending deal is being reviewed by the agency.
Eagle Hospitality completes Hilton Houston Galleria sale: Eagle Hospitality Trust, Singapore, completed the sale of the Hilton Houston Galleria for US$14 million on February 1. The proceeds from the sale were used to offset the outstanding principal balance of the mortgage loan for the hotel, but was reportedly insufficient to cover the entire amount of around US$15.6 million.
Hotel Okura plans new hotel in Bangkok: Okura Nikko Hotel Management Co. Ltd., a subsidiary of Japan-based Hotel Okura Co. Ltd., will open the Grand Nikko Bangkok Sathorn in 2025. The hotel will consist of 405 rooms, including 36 rooms designed for longer stays. The hotel is part of the Okura group’s “5×5 Plan” under which it aims to open five hotels in five countries and regions. The Grand Nikko Bangkok Sathorn is the group’s fifth hotel in Thailand and the first Grand Nikko-branded property. The hotel will be managed by Bangkok Sathorn Hotel Management Co., a local hotel management company jointly owned by Nishimatsu Construction Co., Japan Overseas Infrastructure Investment Corp. for Transport & Urban Development, and Fuyo General Lease Co.
Strongest quarter for Hawaii during pandemic: The fourth quarter of 2021 has been the strongest one for Hawaii since the start of the pandemic, with RevPAR increasing YOY to US$189.35 from US$99.24, according to CBRE’s Hawaii Hotel Figures Q4 2021. While ADR increased YOY to US$329 from US$267, occupancy rates continued to improve with a +2010 BPS increase from 37.1% in Q4 2020 to 57.6% in Q4 2021. Although RevPAR and ADR saw a significant rise YOY, it still hasn’t recovered fully to the pre-pandemic levels. Pre-pandemic occupancy rates (in 2019) were 80.8%. Based on ADR, Maui performed the best reaching US$536. Based on occupancy, the Kaanapali/Lahaina/Kapalua submarket saw the most considerable YOY rise of +3150 BPS. Kauai had the highest increase and both Maui and the Big Island have surpassed a 60% occupancy, which is higher than the U.S. average occupancy of 57.6%. In December 2021, 753,670 travelers visited the islands, a 218% jump from 236,575 visitors in December 2020.
Dellisart launches sales service: Hotel owner-operator Dellisart, Wrightsville Beach, North Carolina, has launched Hotel Sales Max, a sales service offered to hotels to enhance their reach on a remote basis. Elizabeth Mount will be returning to the company as the new entity’s corporate director of sales. The service will function as a hotel’s external dedicated and trained sales team who have the knowhow in handling local and RFP contracts. So far, seven properties have signed a contract with Hotel Sales Max.
US$10 million in bonuses for Hard Rock Atlantic City staff: Hard Rock Hotel & Casino Atlantic City announced more than US$10 million in bonuses and US$50 million in additional surprises for their team members. More than 2,400 of the hotel’s union and non-union employees will receive a bonus for the third consecutive year after a record-breaking year with the largest increase in coin-in, table games drop and gross gaming revenue over 2019. Additionally, two randomly selected grand prize winners each won a new car, two won all-inclusive stays at a Hard Rock resort destination and eight won cash prizes.