Hotel Ändra joins Accor: Hotel Ändra Seattle in Seattle, Washington, has become the latest addition to Accor’s MGallery Hotel Collection. The 10-story hotel features 123 rooms and suites, and two restaurants and hosts a cooking school led by Seattle-based chef and restaurateur Tom Douglas, who also helms one of the restaurants at the property. The hotel recently underwent a US$12 million property-wide renovation. The MGallery Hotel Collection has over 55 hotels globally in varying stages of development. Accor is also set to open the first MGallery Hotel & Residences in Mexico, with the debut of Mayaliah Tulum Hotel & Residences – MGallery, expected in 2024.
avid hotels debuts in Canada: IHG Hotels & resorts has opened the first Canadian avid hotels property in Vaughan, Ontario. The avid hotel Toronto – Vaughan Southwest, owned by PI Cap, is the first out of four planned properties in Canada for IHG’s new Essentials brand. The 119-key hotel features grab-and-go options, a lobby, a pool, and gym. Currently, IHG has 180 open hotels in Canada and 40 more in the pipeline. With over 50 locations open in the U.S., Mexico and Canada, avid hotels plans to grow its footprint in Canada with more properties planned in Woodstock and Belleville in Ontario and Lethbridge, Alberta.
Xenia completes Kimpton Denver sale: Xenia Hotels & Resorts, Inc., Orlando, Florida, has completed the sale of the 189-room Kimpton Hotel Monaco Denver for US$69.75 million (US$369,000 per key). The sale price represents a 14.9x multiple on 2019 hotel EBITDA and a 20.6x multiple on hotel EBITDA for the 12 months ended September 30, 2022. The buyer has not been named. Xenia will use the proceeds from the sale for general corporate purposes, including share repurchases, repayment of debt, capital expenditures and acquisitions in line with the company’s long-term plans. Xenia owns 32 hotels totaling 9,508 rooms across 14 states.
Digital tipping at BWH hotels: BWH Hotel Group has selected eTip as a digital tipping solution for its properties in the U.S. and Canada. eTip doesn’t require an app to be downloaded or login credentials. Guests can scan a QR code from their mobile phones to tip using their preferred payment methods. eTip also provides a “tap to tip” option, which allows guests to pay through an NFC-enabled QR code. Once the guest leaves a tip electronically, associates can receive the tip amount in their bank accounts in real-time through Visa Direct. eTip helps managers to allocate tips to individual associates or pool tips by a specific team or department.
Choice announces cash dividend: Rockville, Maryland-based Choice Hotels International, Inc. has declared a cash dividend on the company’s common stock of US$0.2375 per share. The dividend is payable on January 17, 2023 to stockholders of record on January 3, 2023. Choice has managed to grow its earnings per share by 17% a year over the past five years.
Edgewater acquires Historic Windsor: 125 West Lamar LLC, a wholly-owned subsidiary of Paoli, Pennsylvania-based Edgewater Group LLC, has acquired the Historic Windsor Hotel in Americus, Georgia, for a reported US$12,500,000 or US$235,849 per key. The hotel will join Ascend Hotel Collection by Choice Hotels International. Built in 1892, the 53-key hotel occupies almost an entire city block. The five-story Victorian property comprises a tower and turret, balconies and a three-story open atrium lobby. The hotel offers six suites, business services for conferences and events, and two on-property dining options.
Foreclosure for Hilton Minneapolis: Hilton Minneapolis in Minneapolis, Minnesota, will reportedly be auctioned in a sheriff’s sale. The foreclosure auction of the 826-key hotel, which is still operational, is expected on January 13, 2023. The hotel is owned by Chicago, Illinois-based Walton Street Partners LLC and Fernandina Beach, Florida-based Haberhill. A Hennepin County judge ordered the foreclosure auction after finding the owners had been in default since April 2020 for failing to service a $180m refinancing loan they had taken out in November 2018.
NexGen acquires Chicago SpringHill Suites: Itasca, Illinois-based NexGen Hotels has acquired the 120-suite SpringHill Suites by Marriott Chicago Waukegan/Gurnee. The hotel includes an indoor pool, fitness center and a boardroom for small groups of up to 20 people.
Hard Rock to Bristol: Hard Rock International celebrated the groundbreaking of a permanent casino and hotel in Bristol, Virginia. Hard Rock International is partnering with The United Company and Par Ventures to open the 300-room The Hard Rock Hotel & Casino Bristol spanning 300,000 square feet and featuring 1,300 slots, 50 table games, a sportsbook, several dining venues and a live entertainment venue. The property is expected to open in 2024.
Monthly meetings, events volume beat 2019 levels: Monthly meetings and events volume in the U.S. surpassed 2019 levels for the first time since the pandemic, achieving 103.1% of November 2019 volume in November 2022, according to the latest data by Knowland. This November saw a 122.5% growth over November 2021. In line with native seasonality, November 2022 fell 11% over October 2022. The average number of attendees per event this November was 118, compared to 105 in November 2021 and 104 in November 2019. The average space used this November was 3,028 square feet, while it was 2,501 square feet in November 2021 and 3,009 in November 2019. The top five growth markets in November compared to October were Las Vegas, San Juan, Fort Myers, Miami and Kauai Islands. The corporate market segment accounted for 53.5% of meetings and event business, with healthcare leading as the biggest industry segment.
Sydney’s Manly Wharf goes on sale: Manly Wharf, the retail and hospitality asset in Sydney, has been listed for sale for a reported price of AU$80 million (US$53.63 million) by Robert Magid of TMG Developments. Built in 1885 as a passenger terminal, it was converted into an iconic food and beverage destination by TMG Development after it acquired the long-term leasehold in 1995. Transport for NSW owns the original lease. This comes on the heels of Magid selling two hotels — the Harbour Rocks Hotel in Sydney and Hotel Lindrum in Melbourne.
Beaumier secures €200M loan: London-based Cheyne Capital Management has completed a senior loan of over €200 million (US$209.80 million) for Beaumier, the France-based luxury boutique hotel group owned by KSL Capital. The loan, provided by funds managed and advised by Cheyne’s real estate group, will be utilized to refinance the existing bank facilities and support a capital expenditure program to upgrade the Beaumier experience. Beaumier’s portfolio includes 12 lifestyle hotels totaling 546 rooms across in France, Spain and Switzerland. The company plans to grow its pipeline with expansion projects and acquisitions in key European destinations.
AJ Capital adds in Northern Ireland: Adventurous Journeys Capital Partners has acquired the Adelphi Portrush Hotel in Northern Ireland. The hotel, which will join the Marine & Lawn Hotels & Resorts portfolio, will continue to operate as Adelphi till autumn 2023. AJ’s in-house team will then start renovations of the rooms and common spaces. In late 2024, the hotel will relaunch as part of the Marine & Lawn brand, becoming the sixth property to join the collection.