LARRY SPELTS PARTS WAYS WITH INDIGO ROAD: The Indigo Road Hospitality Group and Larry Spelts, president of the group’s Lodging & Lifestyle Adventures vertical, will mutually part ways, Indigo Road said in a statement. Steve Palmer, founder of Indigo Road, began his collaboration with Spelts in 2019. Palmer said the team had decided to prioritize current locations and upcoming 2024 projects and pause future new development opportunities. Spelts helped the company during the pandemic and led the acquisition and subsequent renovation and reopening of Skyline Lodge in Highlands, N.C., in 2021. Spelts also led the planning of other projects, including four properties slated to open in 2024. Indigo Road has elevated senior director of Lodging Operations Gabriel Perez to COO of Lodging & Lifestyle Adventures, effective immediately.
ST. REGIS LONGBOAT KEY RESORT TO OPEN IN 2024: The St. Regis Longboat Key Resort is on track to open in the summer of 2024. The resort will be the only St. Regis property to open in the U.S. next year. Located along the Sarasota barrier island, the property will be the biggest development on the island in 50 years. The St. Regis resort will feature 168 rooms, 800 feet of private beach and a four-acre saltwater lagoon. Amenities at the resort include a 20,000-square-foot destination spa, multiple swimming pools, a winding river, dining venues and 17,000 square feet of indoor and outdoor meeting space.
AC HOTELS OPENS IN FLORIDA: AC Hotels by Marriott, part of Marriott Bonvoy’s portfolio, has opened a new hotel in Naples, Fla. The AC Hotel Naples 5th Avenue features 150 rooms, a lobby, a ground-floor café, a gym, an outdoor rooftop pool, a rooftop restaurant and bar and 2,500 square feet of event space. The three-story hotel’s public spaces showcase artwork by local and regional artists. The hotel forms the hospitality component of Naples Square, a mixed-use development planned by Wheelock Street Capital and The Ronto Group.
CRESCENT ACQUIRES ALPHARETTA HOME2 SUITES: Crescent Real Estate LLC has acquired the Home2 Suites by Hilton Alpharetta through its investment vehicle, GP Invitation Fund III, LP. The 107-room hotel operates under a franchise agreement with Hilton. The hotel is located close to the Avalon mixed-use development in Alpharetta, Ga., and is one of the recent select service hotels in the submarket. Crescent has selected HEI Hotels & Resorts to manage the hotel. Currently, Crescent has more than $10 billion worth of assets under management, development and investment capacity.