L+R sells in London: The Trafalgar St. James, London, has been sold by operator L+R Hotels to Crimson Hotels, a privately owned hotel company. The hotel comprises 131 rooms and is operated under a Curio Collection franchise with Hilton. It is subject to a long leasehold with the Crown Estate. This marks the second Hilton Curio Collection acquisition for Crimson, alongside 100 Queen’s Gate Hotel in South Kensington, London. The hotel will be headed up by Federico Ciampi, the current general manager of 100 Queen’s Gate, who has been promoted to the role of cluster GM.
Nayara Resorts adds in Panama: Nayara Resorts, Costa Rica, has added Bocas Bali, the exclusive, all-inclusive, adults-only property in Panama, to its portfolio. Opened in 2021, the property includes 16 over-water villas and an over-water beach on a private island in the Bocas del Toro area off the Caribbean coast. Offering fully solar-powered, off-the-grid accommodations, the resort also features two restaurants and several water activities.
US performance update: Performance in the U.S. was lower than the previous week but fared better than in 2019, as per STR’s data through August 20.
- Occupancy: 67.3% (-3.9%)
- ADR: US$150.96 (+16.7%)
- RevPAR: US$101.59 (+12.2%)
Although none of the top 25 markets saw occupancy increasing over 2019, Detroit came closest to its pre-pandemic comparable (-2.5% to 68%). Miami recorded the largest ADR gain over 2019 (+33.4% to US$189.57). The steepest RevPAR deficit was in San Francisco (-28.8% to US$150.51).
Stockdale Capital Partners acquires The Source: Stockdale Capital Partners, Los Angeles, California, has acquired The Source hotel in Denver, Colorado, and the accompanying 44 square feet of retail, 300-stall parking garage and surface parking lot at US$61.9 million. The transaction involved three separate parcels with three different ownership members. The 100-key hotel features a rooftop full-service restaurant, 5,575 square feet of event space, a rooftop pool, fitness and business centers along with 44,000 square feet of on-site restaurant and retail in its Market Hall I and II locations. Stockdale plans to undertake renovations at the property, which will see refreshed guest rooms, reimagined rooftop restaurant, activated hotel lobby experience and more revenue drivers in the hotel’s retail space.
Zumper launches short-term rentals: Leveraging a US$30 million infusion, Zumper, the privately-owned rental marketplace, has launched its short-term and vacation rental product, adding half a million short-term rental/vacation listings to their 1 million annual term inventory. With the addition of short-term options, Zumper can directly address renters’ grievances by providing consumers the flexibility to find their permanent or temporary residences. The short-term listings can be booked at no extra charge to the guest, which is usually over 15% or more on other platforms. Landlords can list their properties short-term to meet demand and advertise their monthly and short-term rentals. By putting STR and LTR on one platform, the platform will enable renters to stay in apartments around the country for as little or as long as they like.
Noble House grows portfolio: Noble House Hotels & Resorts, Kirkland, Washington, has acquired 50% ownership in The Marquesa Hotel and Café Marquesa in Key West, Florida. The property’s owners and operators, Carol Wightman, Erik deBoer and Derek deBoer, will continue to own the remaining stake. Noble House will manage the 44-room hotel. Currently, Noble House has a portfolio of 25 luxury and upscale properties and experiences across North America.