A quick roundup of global hospitality news.
CORINTHIA HOTELS ANNOUNCES MALDIVES RESORT: Corinthia Hotels has signed a hotel management agreement to operate a luxury resort in the Maldives, which is expected to open in Q4 2025. Corinthia Maldives will feature aquatic-inspired architecture designed by HKS. The property will include five restaurants, wellness facilities and several fitness spaces. The Maldives-based Maarah Pvt. Ltd., affiliated with Maarah Holdings Ltd., is developing the property. Early work on reclamation and the first phase of development of the resort, located on Kaafu Atoll, has started and will include two islands featuring a 73-key resort and a second, smaller private island for exclusive use. Founded in 1962 by the Pisani family, Corinthia Hotels’ portfolio includes hotels in London, Budapest, Lisbon, St. Petersburg and Malta and forthcoming openings in New York, Brussels, Bucharest, Rome and Prague.
ECO-LUXURY RESORT IN ALULA: The Royal Commission for AlUla will develop a new resort in the Journey Through Time (JTT) master plan in AlUla, Saudi Arabia. The AZULIK AlUla Resort will be an eco-luxury property in the Nabatean Horizon District of JTT near the AlMutadil Equestrian Village development and the ancient valley of AlFann. Set to open in 2027, the resort will offer 76 luxury villas of six varieties, a spa, a VIP club, welcome lounges, all-day dining and an SFER IK museum. The resort will be operated by Mexican luxury brand AZULIK and designed by Roth Architecture. The development will protect and incorporate nearby ancient rock art inscriptions and use a natural system of existing waterways for irrigation and to safeguard against floods. No private vehicular traffic will be permitted inside the property, and instead, an all-electric mobility system will be provided, apart from horse and camel routes and hiking trails.
ASHFORD COMPLETES REFINANCING OF TWO MORTGAGE LOANS: Ashford Hospitality Trust, Inc. has refinanced its mortgage loans for the 157-key La Posada de Santa Fe in Santa Fe, NM, which had a final maturity date in November, and the 252-room Hilton Alexandria in Alexandria, Va. which had a last maturity date in June. The two loans were the company’s only final debt maturities this year. The new, non-recourse loan totals $98.5 million and has a three-year-initial with two one-year extension options. The loan is interest only and has a floating interest rate of SOFR +4%.
FAIRMONT ADDS FIFTH PROPERTY IN THE UK: Fairmont Hotels & Resorts has added its fifth property in the UK in partnership with Dubai-headquartered Select Group. The Fairmont Cheshire The Mere is located near Knutsford in Cheshire, overlooking Lake The Mere, and currently features 81 rooms, wellness facilities and an 18-hole championship golf course. The luxury golf and spa resort will undergo restoration and expansion and will open in 2024 with 120 rooms, including 27 suites and will retain the golf course and grow its wellness and dining options. Owned by the Boler family since 1984, the resort was acquired in 2022 by the UAE Select Group headed by Rahail Aslam.
DOUBLETREE BY HILTON TO OPEN IN BERLIN: Hilton has signed a franchise agreement with Blackstone and Event Hotels to open DoubleTree by Hilton Berlin Ku’damn. The hotel will be the first DoubleTree by Hilton-branded property in Berlin, following multi-million euro remodeling. The 420-room hotel will open in June and will be Hilton’s sixth property in Berlin. The hotel will have an all-day dining restaurant and bar, 11 function rooms totaling 800 square meters and underground parking. The signing follows recent conversions for the DoubleTree by Hilton brand in key markets. Currently, Hilton has 41 operating hotels in Germany.