BROOKFIELD SELLS BARCELONA HOTEL: Spanish fund manager Blasson Property Investments is finalizing the acquisition of the 465-room luxury Sofia Hotel in Barcelona in a deal worth €230 million ($249.02 million). The hotel is owned by Canadian fund Brookfield, which added the hotel to its collection when it completed the acquisition of the Selenta chain in 2021 for €440 million ($476.4 million). Hyatt is operating the hotel under the Unbound Collection brand. The deal is currently in the process of due diligence.
DRIFTWOOD HOSPITALITY ACQUIRES WYLIE HOTEL: Driftwood Hospitality Management, based in North Palm Beach, Fla., has added Wylie Hotel in Atlanta to its management portfolio. The boutique hotel will transition to a Tapestry Collection by Hilton and will be renamed Wylie Hotel Atlanta, Tapestry Collection by Hilton. Built-in 1929 as Garner Wallace Hotel, the property reopened as Wylie Hotel in 2021. The hotel offers 111 rooms, an outdoor terrace, a restaurant and a sunroom. The interiors have been refurbished by designers Kendal Rogers and Maria Garza Gossett of Pixel Design Collaborative.
U.S. PERFORMANCE UPDATE: In a sign of the normal flow of the spring break season, hotel performance in the U.S. fell from last week, showing STR’s data through March 25.
- Occupancy: 64.9% (-0.6%, -6.3%)
- ADR: $158.61 (+4.7%, +19.5%)
- RevPAR: $102.98 (+4.1%, +12%)
Among the Top 25 Markets, Chicago reported the highest YOY rise in occupancy (+12.2% to 63.4%), while Phoenix witnessed the only occupancy lift over 2019 (+3.1% to 81.5%). Washington, D.C., showed the most substantial ADR (+20.9% to $194.18) and RevPAR growth (+33.4% to $139.83) YOY. Las Vegas saw the highest increases in the metrics: ADR (+42.7% to $187.21) and RevPAR (+31.5% to $148.86). The steepest RevPAR declines were recorded in Seattle (-11.8% to $101.31) and New Orleans (-11.4% to $124.47). New Orleans also posted the largest RevPAR decline YOY (-12.4% to $124.47).
HEI ADDS MARRIOTT JACKSONVILLE TO MANAGEMENT PORTFOLIO: HEI Hotels & Resorts has assumed management of the 354-key Marriott Jacksonville Downtown Hotel in Jacksonville, Fla. Owned by London-based L+R Hotels, the hotel features a rooftop pool with views of the St. John’s River and city skyline, a restaurant, coffee shop and a lobby lounge. The hotel also offers around 13,000 square feet of event space, including a 7,000-square-foot ballroom. The hotel is scheduled to undergo renovations, with completion expected in the first quarter of 2024. Headquartered in Norwalk, Conn., HEI has more than 100 properties across the U.S. in its portfolio.
EXTENDED STAY AMERICA IN GEORGIA: Extended Stay America has opened the Extended Stay Suites Atlanta-McDonough in McDonough, Ga. Developed by Wichita, Kan.-based TGC Group, the property will be managed by TGC Hospitality Management. The four-story, 84-key newly-constructed hotel comprises a fitness center, onsite guest laundry and signature lobby with additional vending options. The rooms feature fully-equipped kitchens, recliners and working space. Currently, Extended Stay America has more than 760 hotels totaling around 85,000 rooms.