Angevin & Co. acquires the Whitney Hotel: Angevin & Co., the New Orleans, Louisiana-based hospitality company led by Robert Thompson, has partnered with GBX Group, Cleveland, Ohio, to acquire the 93-room Whitney Hotel in New Orleans from hotelier Joe Jaeger for US$16.9 million. Thompson said the hotel will undergo refurbishments to include the property’s first on-site restaurant — a vegetable-forward, Southern restaurant — and a cocktail bar. Angevin & Co. will work with design partners FAM Design for the renovation. Jaegar purchased the hotel from developer Paul Flower for US$10.4 million in 2014. The property is scheduled to reopen in early 2023. Tyler Robinson at Urban Properties represented Angevin & Co. on the transaction.
Miami’s iconic Deauville to be demolished: The Deauville Beach Resort is set to be demolished after Miami Beach officials said the hotel was beyond repair. For the past few years, city leaders have alleged that the hotel’s owners were more interested in selling it than preserve the historic property, and allowed it to fall apart. Last week, the owners submitted a structural report to the city which revealed that the building was beyond repair and needs to be demolished ahead of the 2022 hurricane season. The city is expected to approve the plan but noted that future building plans have to be the same as the old hotel. Built in 1957, the 538-room oceanfront hotel played host to a Beatles performance in 1964. It closed in 2017 after sustaining fire and hurricane damages.
Dubai rates reach six-year high: Monthly room rates in Dubai reached a six-year high in December 2021, boosted by Expo 2020 and the holiday season, according to preliminary data from STR.
- Occupancy: 78.2%
- ADR: AED956.01 (US$260.24)
- RevPAR: AED747.28 (US$203.42)
The market’s ADR and RevPAR levels were the highest for any month since January 2015 and March 2015, respectively. The market’s ADR of AED1,963.67 (US$534.55) on December 31, 2021 was the highest for any day in STR’s Dubai database, while the market’s RevPAR of AED1,743.89 (US$474.72) was the highest since December 31, 2015 (AED1,768.85 or US$481.51).
Sydney rates reach pandemic-era high: Hotel rates in Sydney reached pandemic-era highs, reflecting the beginning of summer and impact of the holiday season, according to preliminary December 2021 data by STR.
- Occupancy: 45%
- ADR: AUD236.64 (US$170)
- RevPAR: AUD106.38 (US$76.38)
The market’s absolute ADR reached the highest since December 2019, while occupancy and RevPAR were the highest since May and April 2021, respectively. Sydney’s ADR of AUD533.81 (US$383.3) on December 31 was the market’s highest since December 31, 2019 (AUD651.85 or US$468.06) while RevPAR (AUD287.57 or US$206.49) was the highest since January 1, 2020 (AUD327.62 or US$235.25). Daily occupancy for the month peaked at 65.3% on December 11.
London occupancy falls: Occupancy in London fell but room rates climbed higher amid rising number of COVID-19 cases, according to preliminary December 2021 data by STR.
- Occupancy: 53.4%
- ADR: £153.63 (US$208.57)
- RevPAR: £82.08 (US$111.43)
Occupancy levels fell the lowest in the market since July 2021. In November, London’s occupancy level of 66.3% was the highest in the market since February 2020 (76.1%). However, the December ADR level was the market’s highest since December 2019. On a daily basis, London’s hotel occupancy was 53.2% on December 31, 2021, rising 17.7% from the same day in 2020 but 91.7% less than 2019.
Sage Hotel Management grows in Denver: Sage Hotel Management, Denver, Colorado, has added Moxy Denver Cherry Creek to its portfolio of managed properties. The latest addition brings Sage’s portfolio of luxury, lifestyle, branded and soft-branded hotels to 58 properties across 18 states, 14 of which are in the Denver metro area. Bethesda, Maryland-based RLJ Lodging Trust acquired the 170-key hotel for US$51.3 million from BMC Investments.