Hong Kong ends hotel quarantine: Hong Kong has announced the lifting of the three-day mandatory hotel quarantine for overseas arrivals, ending one of the most stringent COVID-19 restrictions in the world. From September 26, overseas arrivals will no longer be required to get a negative PCR test before entering Hong Kong. Travelers will now have to provide a negative rapid antigen test and declare their results through a digital form 24 hours prior to boarding the flight. Travelers will, however, be required to self-monitor their health at their choice of premises for three days, down from the current four-day period, during which their movement in the city will be restricted. Hong Kong’s news comes a day after Japan and Taiwan also relaxed their border restrictions.
Hilton introduces Waldorf Astoria in Morocco: Hilton has signed an agreement with Star Hill Tanger SA to open Waldorf Astoria Tanger, marking the debut of the luxury brand in Morocco. Slated to open in 2025, the resort will be located close to the Cape Spartel Reserve in a prime location near the country’s northwest coast. The Waldorf Astoria Tanger will offer 115 rooms, including 21 villas with private pools and a 1,250 square meter Royal Villa. Hilton operates four hotels in Morocco, with seven more under development. The group plans to open Conrad Rabat Arzana and Hilton Taghazout Bay Beach Resort & Spa later this year.
TMGOC Ventures grows in Florida: TMGOC Ventures, a partnership between The Montford Group and Opterra Capital, has acquired the 96-room Hilton Garden Inn Miami Beach, marking the venture’s eighth deal in Florida. The property, located in Miami Beach, will be managed by Aimbridge Hospitality and is the partners’ 13th joint venture. Since 2019, TMGOC Ventures has developed and invested in 14 hotels along with offices and multi-family real estate.
Busch family, Assouline Capital acquire in Florida: A joint venture of Assouline Capital and Busch Real Estate, led by August “Gussie” Busch, have acquired the 110-key Red South Beach in Miami Beach, Florida, for US$33 million (US$300,000 per key). The new owner financed the deal with a US$31 million loan from Michael Dell’s MSD Partners, which was arranged by Max Ralby of HKS Real Estate Advisors. The seller was 3010 Collins LLC, led by French developer Simon Nemni. The hotel was earlier known as Munroe Towers and The Villa Capri All Suites Hotel & Seashore Club and was built by Charles Rubin in 1939 and designed by T. Gunter Henderson. The new owner plans to renovate and reposition the property and operate it as a resort. The joint venture partners are looking to acquire more hotels and multi-family properties.