HYATT EXPANDS SOUTH AMERICA PRESENCE: Hyatt Hotels and El Pardo Hospitality have announced plans for The Legend Paracas Resort in Paracas in Peru to join the Destination by Hyatt brand. This will be the brand’s first property in South America. The hotel is undergoing a phased enhancement project over the next 24 months to elevate the rooms, open new dining options and redesign public areas. The hotel is expected to open in June. Located on the coast of Peru, The Legend Paracas Resort offers panoramic views of the Paracas Bay and desert hills. The resort features 124 suites with private balconies or terraces, an onsite restaurant and bar, a fitness center, a pool with a swim-up bar, spa and a range of curated experiences and activities. This marks Hyatt’s second property in Peru and its 15th overall hotel in South America.
YOTEL ADDS TO EUROPEAN PORTFOLIO: YOTEL is adding to its European portfolio and will be opening properties in Geneva and London by June. The openings mark a milestone for the brand as it introduces YOTELPAD in Europe. Located in the Lake Geneva area, YOTEL Geneva Lake will open on Thursday. The 237-room hotel features YOTEL’s signature technology and design features along with a dining and event destination, HVGGE Place. Slated to open on June 1, YOTELPAD London Stratford marks YOTEL’s seventh hotel in the U.K. Featuring 62 rooms, the hotel will offer a signature Mission Control check-in area, a grab-and-go station and retail space.
SONESTA ADDS TO SIGNATURE INN PORTFOLIO: Sonesta International Hotels has announced the opening of the Signature Inn Winnemucca in Winnemucca, Nev. The 40-key, upper-economy hotel is located near Interstate 80. The hotel features an outdoor pool, a lounge and 24-hour coffee service. The conversion of the boutique hotel is the latest among several Signature Inn properties slated to open this year and part of Sonesta’s growth strategy. Signature Inn offers a retro-modern twist to travel experiences and competes with upper economy and midscale brands for road trip destinations, coastal towns and urban locations. Currently, Sonesta’s overall portfolio includes around 1,100 properties totaling 100,000 rooms under 15 brands across eight countries.
U.S. PERFORMANCE UPDATE: Hotel performance in the U.S. improved from last week driven by the total solar eclipse, according to CoStar’s data through April 13.
- Occupancy: 65.8% (+2.8%)
- ADR: $160.2 (+2.9%)
- RevPAR: $105.48 (+5.8%)
Among the top 25 markets, Philadelphia saw the highest YOY lifts in occupancy (+23.2% to 77%) and RevPAR (+45.7% to $133.79). The market’s performance was driven by WrestleMania 40. Dallas, which was positioned along the path of the solar eclipse, reported the largest ADR lift (+20.1% to $150.33) and the second-highest jump in RevPAR (+38.8% to $117.5). The steepest RevPAR declines were seen in Tampa (-24.1% to $135.79) and Orlando (-20.9% to $134.48).
PARTNERS GROUP ACQUIRES MINORITY STAKE IN TRINITY: Partners Group has agreed to acquire a strategic minority stake in Trinity Investments, a U.S.-based hospitality-focused real estate investor. Partners Group will initially focus on $500 million with Trinity and will also commit additional capital to Trinity’s North American, European and special situations investment platforms. Future capital commitments from Partners Group will help Trinity execute investment opportunities and expand its platform both in the U.S. and across new markets, including Europe. Earlier this month, Trinity and Partners Group acquired The Scottsdale Plaza Resort & Villas, extending the partnership between the two companies which started with their first joint venture in 2022 with The Las Colinas Resort in Dallas, which converted to The Ritz-Carlton Dallas, Las Colinas.