MANDARIN ORIENTAL RESIDENCES IN MADRID: Mandarin Oriental has unveiled the development of its latest residential project in Madrid. Scheduled to open in January 2025, the new Mandarin Oriental Residences, Madrid, will feature 30 apartments. Following the recent signing of Mandarin Oriental Punta Negra, Mallorca, this will be Mandarin Oriental’s second collaboration with Spanish development company Blasson and the first with Pictet Alternative Advisors, the alternative investment unit of Swiss bank Pictet. Bueso-Inchausti & Rein Arquitectos will lead architecture with interiors by Belen Domecq and her Cosmic Studio. Spanning over seven floors, the residences will consist of two- and three-bedroom units, each including a private balcony. Six units will have private pools. The property will also feature a residence lounge, landscaped garden, beauty salon, fitness center, underground parking, an outdoor heated pool, indoor lap pool and spa treatment rooms.
CARBON POSITIVE HOTEL IN SEATTLE: Urban Villages, a real estate developer and environmental steward, has begun construction to modernize a historic structure and reopen it as Hotel Westland, a carbon-positive, adaptive reuse hotel in Seattle. The hotel is expected to open in the summer of 2024. Located in the city’s Pioneer Square neighborhood, the 120-room boutique lifestyle hotel will be operated by Aparium Hotel Group and is architecturally designed by The Miller Hull Partnership with interiors by Curioso. Built in 1907, the building will feature modernized guest rooms, a rooftop bar, two flexible residential-like meeting spaces, a café and a signature restaurant. This is Urban Villages’ second carbon-positive hotel, following the announcement of Populus, which will open in Denver in the summer of 2024. Most of the existing building’s original single pane windows will be retained while adding custom insulated interior windows for an extra insulative barrier. Hotel Westland is part of RailSpur, a carbon-positive micro-district that aims to be a major adaptive reuse development and comprises three main historic buildings and the activated alleyways which connect them.
U.S. PERFORMANCE IMPROVES: Hotel performance in the U.S. improved from last week and showed better comparisons YOY, according to STR’s data through May 20.
- Occupancy: 67.5% (-1.5%)
- ADR: $158.53 (+3.6%)
- RevPAR: $106.98 (+2.1%)
The U.S. occupancy level was the second highest for any week this year. Among the top 25 markets, Washington, D.C. posted the highest YOY increases in each of the three key performance metrics: occupancy (+9.3% to 83.2%), ADR (+16.2% to $220.58) and RevPAR (+27% to $183.6). The weekly occupancy level was the highest in the market since the start of the pandemic. Notably, New York City registered the highest occupancy level (89.5%), aided by NYU’s commencement at Yankee Stadium. The steepest RevPAR declines were seen in Miami (-17.6% to $149) and San Francisco (-12.2% to $161.59).
CRESCENT ADDS THE MISSION INN HOTEL TO MANAGEMENT PORTFOLIO: Crescent Hotels & Resorts has added The Mission Inn Hotel & Spa in Riverside, Calif., to its Latitudes: Lifestyles by Crescent portfolio. The AAA Four-Diamond hotel initially opened in 1876 and is owned by Kelly and Duane Roberts. The iconic hotel is a National Historic Landmark and a member of Historic Hotels of America. The hotel offers 238 rooms, including 27 suites, a spa, six restaurants and 20,000 square feet of flexible event space. Crescent’s portfolio currently includes more than 120 properties in the U.S. and Canada.
GEORGIAN COURT HOTEL JOINS WORLDHOTELS ELITE COLLECTION: WorldHotels has announced that the Georgian Court Hotel has joined its WorldHotels Elite collection. Located in downtown Vancouver, British Columbia, the hotel has 180 newly-renovated rooms and suites. The hotel features Orchid Floor, a floor dedicated to female guests offering additional amenities. The hotel includes a restaurant and wellness amenities like a fitness center and an infrared sauna.