RIYADH’S FIRST MONDRIAN: London-based Ennismore has signed an agreement with Olayan Financing Co. to unveil the first Mondrian hotel development in Saudi Arabia. Mondrian Riyadh Al Malga Hotel and Residences will open in 2026 and mark Ennismore’s debut in Riyadh. Mondrian Riyadh Al Malga will feature 200 keys, including 130 rooms and suites with 25 one-bedroom, 35 two-bedroom and 10 three-bedroom serviced apartments. The hotel will include three restaurants and lounges by Carte Blanched, Ennismore’s in-house F&B concept studio, wellness spaces and event areas. Tristan Di Plessis will design the interiors of the building. Both the hotel and the development will have a LEED certification. The property will be a part of the Al Malga Urban Village mixed-use development. Mondrian currently has seven hotels open all over the world and 17 hotels and branded residences in the works.
MARRIOTT SIGNS 3 HOTELS IN SAUDI ARABIA: Marriott International, Inc. has signed a multi-deal agreement with NEOM to open three properties on its luxury island Sindalah in the Red Sea, located off Saudi Arabia’s northwest coast. The deal includes Saudi Arabia’s first Autograph Collection-branded hotel and two Luxury Collection properties. Expected to open in 2024, the first Luxury Collection property will have 70 luxury rooms and suites, including one-, two-, three- and four-bedroom villas featuring private pools. The second property, also scheduled to open in 2024, will be an all-suite hotel with 115 one-, two- and three-bedroom luxury suites. Both properties will include multiple dining and leisure facilities. The Autograph Collection property will open in 2024 and feature 66 rooms and suites, including one- and two-bedroom villas, several dining venues, a spa and a kid’s club. These three properties will be the first hotels to open on Sindalah. Spread over 840,000 square meters, Sindalah is the first group of islands to be developed by NEOM on the Red Sea. Slated to open in 2024, the island will include over 400 ultra-luxury hotel rooms and 300 suites, a beach club, 38 culinary options and a yacht club.
COURY HOSPITALITY ADDS THE SINCLAIR: Coury Hospitality, developers and operators of Grapevine’s Hotel Vin, has added The Sinclair Autograph Collection in Fort Worth, Texas, to its portfolio of Autograph Hotels. The addition of the lifestyle boutique property marks Coury’s 10th Autograph property to their owned and managed portfolio. Originally home to the Sinclair Oil Co. in the 1930s, the hotel offers 164 rooms, a lobby and basement restaurant, a steakhouse and a rooftop bar with panoramic views of the city.
U.S. PERFORMANCE UPDATE: Hotel performance in the U.S. fell from last week, according to STR’s data through March 4th.
- Occupancy: 62.8% (+3%, -5.6%)
- ADR: $151.35 (+8.9%, +14.1%)
- RevPAR: $95.06 (+12.1%, +7.7%)
Among the top 25 markets, Detroit recorded the highest occupancy increase over 2019 (+5% to 63.2%), while Washington, D.C., was up the most from last year (+23.6% to 64.1%). D.C. also posted the most substantial RevPAR growth YOY (+52.2% to $113.56). In terms of ADR, Las Vegas ($196.65) saw the highest ADR increase from 2019 (+56.8%) and 2022 (+33.7%). Las Vegas also recorded the most significant jump in RevPAR over 2019 (+54.3% to $153.55). The steepest RevPAR declines from 2019 were recorded in San Francisco (-51.4% to $117.39) and New Orleans (-19.4% to $122.95). YOY, Miami (-4.2% to $225.72) was the only top 25 market to witness a dip in RevPAR.
BANNATYNE GROUP SELLS CHARLTON HOUSE: Bannatyne Group, the U.K.-based owner of hotels, spas and health clubs, has sold Charlton House Hotel and Spa in Somerset, the U.K., to Singaporean group KOP Ltd. The sale price of the 28-room hotel was not disclosed. In 2021, the hotel was put on the market with a guide price of £4 million ($4.78 million). The converted 17th-century country house is on four acres of gardens and grounds with a restaurant and bar, an orangery, a spa, pool, gym, wedding and event space and an outdoor tennis court. Bannatyne Group acquired the hotel in 2010. Knight Frank completed the sale of the hotel on behalf of Bannatyne. The acquisition marks the KOP’s re-entry into the U.K. market. The company’s subsidiary, KOP Properties, earlier owned Cranley hotel in London and 10 Trinity Square, which houses the Four Seasons hotel.