A quick roundup of global hospitality news.
DALATA TO ACQUIRE ITS FIRST IN AMSTERDAM: Dalata Hotel Group plc has agreed on contracts with Zien Group to acquire the whole issued share capital of American Hotel Exploitatie BV, which holds the operational lease of the Hard Rock Hotel Amsterdam American. Dublin, Ireland-based Dalata has started arrangements for the transfer of American Hotel into the group, in cooperation with Zien Group and Hard Rock Hotels, and briefings with the hotel’s employees have commenced. Contracts will be exchanged and completed in early October and Dalata will immediately begin operating the hotel as the Clayton Hotel Amsterdam American. The 4-star hotel is located on the corner of Leidsekade Canal and Leisesplein Square and features 173 rooms, a lobby on the ground floor, a café and a bar. The property marks Dalata’s first hotel in the Netherlands and its second in continental Europe.
HILTON ADDS 2 HOTELS IN ROTTERDAM: Hilton has signed a franchise agreement with investment manager Annexum to develop two hotels totaling 480 rooms in Rotterdam, the Netherlands. Two existing hotels will be rebranded to open as Mainport Hotel Rotterdam, Curio Collection by Hilton and DoubleTree by Hilton Rotterdam Centre. The hotels are scheduled to open in 2024 following renovations, during which the hotels will remain open trade as Hilton affiliate properties. Annexum recently acquired the two hotels, which will be the first to join the Curio Collection by Hilton and DoubleTree by Hilton brands in Rotterdam. Offering waterfront and city views, the 215-key Mainport Hotel Rotterdam will include a bar and restaurant overlooking the River Maas, a spa, a fitness center and 600 square meters of meeting and event space spread across 10 meeting rooms. Housed in the adjacent building at the base of the Erasmus Bridge, the 265-key DoubleTree by Hilton Rotterdam Centre will consist of rooms with waterfront views, a bar and restaurant, a spa, a pool and meeting spaces. Both the hotels will feature private car parking and EV charging stations. Hilton has two more hotels operating in Rotterdam. The company has 15 properties across the Netherlands.
U.S. PERFORMANCE IMPROVES: Hotel performance in the U.S. improved from last week, according to CoStar’s data through September 16.
- Occupancy: 67.7% (-2.2%)
- ADR: $161.15 (+2.3%)
- RevPAR: $109.07 (+0.1%)
Among the top 25 markets, Oahu Island saw the highest YOY occupancy increase (+7.4% to 83.6%). Driven by Dreamforce 2023, San Francisco recorded the highest lifts in ADR (+39.7% to $345.78) and RevPAR (+33.9% to $271.19). New Orleans posted the steepest RevPAR decline (-23.8% to $69.01).
JLL INCOME PROPERTY TRUST CLOSES $27M LOAN: JLL Income Property Trust has originated a $27 million floating rate first mortgage loan secured by a recently built, institutional quality apartment community in suburban Austin, Texas. The loan has an initial three-year term, earns an interest rate of 2.95% above SOFR and is expected to deliver a 7-8% yield. The property is currently 90% leased and comprises 191 units spread across two four-story residential buildings.
IHCL GROWS MUMBAI PORTFOLIO: Indian Hotels Co. Ltd. (IHCL) has announced the opening of Taj The Trees in Mumbai, the fifth Taj-branded hotel in the city. Taj The Trees is located in a mixed-use development spanning 34 acres in the Vikhroli area. The 151-key, eco-sensitive hotel overlooks mangroves and the eastern shoreline and is close to commercial hubs and the upcoming Navi Mumbai International Airport. Developed in partnership with Godrej Group, the hotel is a 100% green power property. With sunlight being used to light 56% of the occupiable spaces, the hotel provides green-certified room amenities and glass water bottles. The zero single-use plastic hotel is IGBC Platinum certified. Amenities include a specialty restaurant, an all-day diner, a rooftop bar with its own gin distillery, banquet spaces, a gym, an infinity pool overlooking the Sculpture Park, a spa and a beauty salon. With this hotel, IHCL will have 12 hotels in Mumbai, with two more under development. The Mumbai-based company has a portfolio of 271 hotels, including 80 under development globally in four continents, spanning 11 countries and expanding to more than 100 locations worldwide.