NewcrestImage acquires 4 La Quintas: NewcrestImage, Dallas, Texas, has entered into a definitive agreement with a joint venture between New York-based Highgate and Cerberus to acquire four La Quinta-branded properties totaling 696 rooms. The properties are at Los Angeles International Airport; at Irving DFW, North, Irving, Texas; in Anaheim, California; and Phoenix, Arizona. The La Quinta Inn & Suites at Los Angeles International Airport is NewcrestImage’s first every gateway location in California. The acquisitions follow the acquisition of the 175-key Cambria Hotel in Southlake, Texas.
Four Seasons, Vanzhong Group announce project in China: Four Seasons Hotels and Resorts and Spring Garden Co. Ltd., a subsidiary of Xi’an, China-based Vanzhong Group, are developing the Four Seasons Hotel Xi’an. The 250-key resort-style hotel is slated to open in 2026 and will be a part of a mixed- use development.
Grassmere Inn rebrands: Corey Gluckstal, the Melville, New York-based real estate developer and managing director of Peconic Equities, is converting the former Grassmere Inn at Westhampton Beach, New York, into Seven Beach Lane, a 16-room luxury boutique hotel. The hotel, along with its food and beverage operations, will be managed by Life House. The property is currently under development and is expected to open in fall 2023. Peconic Equities also owns the 38-key oceanfront hotel, Fire Island Beach House, in Fire Island, New York, which was acquired and renovated in 2020.
US performance slips: Hotel performance in the U.S. was lower than the previous week, as is expected on the negative side of a holiday, as per STR’s data through July 9.
- Occupancy: 63.3% (-14.5%)
- ADR: US$153.71 (+15.7%)
- RevPAR: US$97.37 (-1.1%)
While the last week’s percentage changes were increased on the favorable side of the calendar shift, the recent week’s performance declined due to a comparison with a non-holiday week in 2019. After two consecutive weeks of lower demand around the Fourth of July holiday, the metrics are likely to improve for the rest of July. Among the top 25 Markets, Oahu Island posted the highest levels in each of the three key performance metrics: occupancy (86.2%), ADR (US$315.57) and RevPAR (US$271.92).
Sale of dual-branded Albany hotel closes: JLL’s Hotels & Hospitality Group has closed the sale of the dual-brand Homewood Suites & Tru by Hilton Albany Crossgates Mall in Albany, New York, to Maine Course Hospitality Group, Freeport, Maine. JLL marketed the property on behalf of the seller, Syracuse, New York-headquartered Pyramid Management Group. JLL’s team was led by Alan Suzuki, managing director, and Director Matthew Enright. The 192-key extended-stay and select-service hotel offers a dual-branded integration with a single check-in desk. Each property includes 96 rooms or suites.
Australian aparthotel company rebrands: Australia’s Arise Hotels & Apartments is rebranding to CLLIX Apartments and Hotels. A division of the Queensland-based Song Properties, the rebranding is intended to encourage guests to ‘live their best life’ with the CLLIX of a button. A player in the aparthotel sector, CLLIX currently comprises more than 20 properties and 2,500 apartments across Australia with designs on further expansion in Australia and North America, Asia and Europe, according to leader Michael Song. The rebrand includes a new website and self-service technology for seamless guest arrivals and departures expedited with its new self-service kiosks.