Aman selling NYC real estate?: Reports surfaced on Wednesday that Vlad Doronin’s Aman Group has hired JLL and UBS to sell the real estate at its newly opened, 83-suite Aman New York with a rumored price tag around US$600 million. Aman Group confirmed it is working on a potential sale of the Crown Building, which includes 22 residences, to maximize funds and release capital to drive growth, and wants a deal that would allow it to retain long-term management of the hotel. Aman recently announced a US$900 million equity infusion from The Public Investment Fund, a Saudi sovereign wealth fund, and London-based private equity firm Cain International. The money will be used to drive growth of both the Aman brand and fledgling luxury lifestyle brand, Janu, as well as enhance existing properties.
Kula, Gold Tree Group acquire 2: Kula, the U.K.-based hotel group, and Zurich, Switzerland-based Gold Tree Group, have acquired new hotel sites in Lisbon and Dublin, which will be developed into Kula flexi-stay hotels totaling 175 rooms. The two properties are expected to open in 2024 and will mark four joint deals between Kula and Gold Tree Group in Europe, with the first two in Stuttgart and Basel. The four acquisitions by Kula mark the beginning of the group’s expansion strategy in Europe.
Accor, SHe Travel Club partner: Accor has partnered with SHe Travel Club, the independent hotel label designed by women, to reimagine the female travel and hospitality experience. Accor brands MGallery, Sofitel, Mercure and Novotel will be featured in a 50-hotel pilot in Europe and in the Middle East to encourage growth and deployment of the She Label. SHe Travel Club uses technology and women’s feedback to create a label especially to meet their expectations and requirements. Over 200 hotels globally have been certified by the label, which assesses properties in four categories and provides three levels — silver, gold and platinum.
BON Hotels acquires in Cape Town: BON Hotels, Cape Town, South Africa, has acquired the Grand Daddy Boutique Hotel in Cape Town and will rename it as the Grand Daddy Boutique Hotel by BON Hotels. Earlier known as the Metropole, the iconic city center hotel has been operating since 1895. This marks BON Hotels’ second property in Cape Town.
Sage Hotel Management adds to portfolio: Sage Hotel Management, a Sage Hospitality Group company, has assumed management of The Source Hotel + Market Hall, a 100-key hotel and collection of retail spaces housing independent retail and dining concepts in Denver, Colorado. The Source Hotel + Market Hall was recently acquired by Los Angeles, California-based Stockdale Capital Partners. Sage Hospitality Group will work with the new owner to start renovations and improvements, which will include refreshing the guest rooms, activating the lobby experience, creating additional revenue drivers in the retail space and more. The hotel joins the Sage Independent Hotel Collection, which includes 13 more independent properties with more to be announced in the coming months.
Wyndham breaks ground on new brand: Wyndham Hotels & Resorts has announced the first groundbreaking of its new extended-stay brand in Plano, Texas. The all-new construction brand, which will operate under the working title ‘Project ECHO,’ had 72 hotels in the development pipeline at the end of the second quarter. Owned by Gulf Coast Hotel Management, the hotel is slated to open in the second half of 2023. The 124-room Project ECHO prototype needs about two acres of land and comes in at over 50,000 square feet, around 74% of which is rentable, with individual rooms averaging 300 square feet. The rooms comprise single- and two-queen studio suites with kitchenettes, and public spaces include a lobby, fitness center and guest laundry.
Eastdil Secured, A&G to market Brooklyn hotel: Eastdil Secured and A&G Real Estate Partners have been engaged as exclusive advisors to market The Williamsburg Hotel in Brooklyn, New York. Built in 2017, the 147-room property is being sold subject to the United States Bankruptcy Court, Southern District of New York.
Louvre signs 500th in China: Louvre Hotels Group, an affiliate of the Shanghai, China-based Jin Jiang International, has started the construction of the Campanile Shanghai Lingang, its 500th project in China, with its local partner Jin Jang Hotels China Region. Estimated at RMB70 million (US$10.06 million), the new 212-room flagship property of the group is expected to open in February 2023. Louvre Hotels Group debuted in the Chinese market in 2016 with the first Campanile in the Bund area in Shanghai and followed it up by opening the Golden Tulip Rainbow Shanghai in 2017, Smart Hotel Campanile Jing’An Shanghai in 2018 and more recently the Kyriad Marvelous Hotel Shenzhen Bao’an International Convention and Exhibition Center in Shenzhen. Currently, there are 11 Golden Tulips, 63 Campaniles and 189 Kyriads operational across China. Louvre Hotels is aiming to sign more than 100 hotels from now through 2025 under Kyriad, Campanile and Golden Tulip flags.
Meetings, events soar 136% in August: Meetings and events for hospitality saw a growth of 136.1% in August 2022 over August 2021, with events increasing 6.7% in August 2022 compared to July 2022, revealed Knowland’s latest monthly meetings and events data. August recovered to 85.3% of 2019 levels, the third consecutive month where recovery levels surpassed 80%. The average number of attendees per event was 108, compared to 68 in August 2021 and 92 in August 2019. Average space used this August was 2,670 square feet, compared to 2,490 square feet in August 2021 and 2,896 square feet in August 2019. The top five growth markets in August were Denver, Dallas, San Jose, Raleigh-Durham and Phoenix. The corporate segment accounted for 63.5% of the meetings and events business, with healthcare, technology and training/education leading as the biggest industry segments.