B&B focuses on UK: With 650 hotels and 59,000 rooms across 14 European countries, B&B Hotels has announced plans to launch into the UK, with a target of opening 100 budget hotels by 2035. With backing from Goldman Sachs, growth will include leases with development partners, takeovers and conversions. Kevin Murray has been appointed managing director of development for the UK. B&B Hotels wants to partner with existing hotel owners, developers, landowners, funds and real estate owners to deliver its expansion plans.
edyn’s Locke enters Paris: edyn, owned by one of Brookfield’s private real estate funds, has announced its first project in Paris with the acquisition of a historic property in the city. The property will be developed into a 145-key boutique Locke-branded aparthotel and open in 2024. The 18th-century mansion, located in the fifth arrondissement, will include the creation of 1,000 square meters of social spaces. The redevelopment starting this month will also include a winter garden, a restaurant and bar under a restored glass atrium, co-working space, gym, coffee shop and laundry. The 145 studio apartments will be housed in a new seven-story building that will come up in the rear of the site. edyn secured lending for the deal from Goldman Sachs Asset Management. The group will soon open Locke at East Side Gallery in Berlin and has two more Locke properties under development in Lisbon and Zurich, set to open in 2024 and 2023 respectively. edyn currently owns and operates 12 properties and 1,978 keys across five markets under its Locke brand.
Stonebridge acquires in Las Vegas: Stonebridge Cos., Denver, Colorado, has acquired the DoubleTree by Hilton Hotel Las Vegas Airport, marking the company’s expansion into the Las Vegas market. Stonebridge, which purchased the property in partnership with TowerBrook Capital Partners, will operate the full-service 190-room hotel. The property will undergo renovations, which include refurbishment of the guest rooms and common areas, and will become a part of the Distinguished Hospitality brand. Work will begin in the second quarter of 2023 and is expected to be completed in Q4 2023. Stonebridge’s portfolio currently comprises over 12,000 rooms across the U.S.
Fairfield to debut in Europe, Middle East: Marriott International will launch the Fairfield by Marriott brand in Europe and the Middle East by late 2023. The first Fairfield by Marriott properties in Europe will open in Copenhagen and Amsterdam in 2023. More properties are set to open in Zug, Switzerland (in Q2 2024); Bordeaux, France (Q4 2024) and two in Makkah, Saudi Arabia (Q1 2025 and Q4 2025). With over 1,230 open hotels globally, Fairfield is the second largest brand within Marriott Bonvoy’s portfolio of 30 hotel brands. The European design is inspired by Scandinavian style, while the Middle East properties will have a layout customized for the region, including the prayer rooms and Qibla directional signage. Each hotel’s public spaces will serve as flexible social areas.
Pathfinder grows portfolio: Pathfinder Hospitality, Austin, Texas, has added the Holiday Inn San Antonio N – Stone Oak Area and Holiday Inn & Suites Houston West – Westway Park to their portfolio. The company has extended its Platinum Service to both hotels. The Holiday Inn San Antonio N offers 111 rooms, meeting spaces and a pool. The 113-key Holiday Inn & Suites Houston West includes 3,300 square feet of meeting space, an F&B venue and an indoor pool. This marks the 14th and 15th acquisitions by Pathfinder.