NH Collection debuts in Asia: Minor Hotels announced the first NH Collection hotel in the Asia Pacific region will open in Chiang Mai, Thailand, next year. The 79-key NH Collection Chiang Mai Ping River is slated to open in Q1 2023. Developed in partnership with Osmo Ping River, a subsidiary of Osmo Properties Group, the resort will consist of two low-rise buildings on the river bank. In addition to the rooms and suites, some of which will feature private swimming pools, the hotel will also include a swimming pool and deck, F&B outlets, art space, a bar and fitness center. Narong Othavorn, principal architect at SO Architect, is in charge of the hotel’s design. The property marks the first NH Collection in Asia and outside of Europe and Latin America, where the chain has 93 hotels.
Radisson Individuals launches in Latin America: Radisson Hotel Group Americas has signed and opened a portfolio of eight Radisson Individuals hotels across Colombia and Panama. The portfolio is owned and operated by the Cartagena, Colombia-based Faranda Hotels. The signing marks the brand’s first properties in Latin America. The eight hotels have already opened as Radisson Individuals properties and there are advanced talks with Faranda Hotels to sign more properties in the Caribbean and Latin America. The transaction was brokered by Colombia-based Onirius Hospitality. The portfolio includes two landmark properties in Colombia and Panama, including Hotel Caribe by Faranda Grand, the first hotel to open in Cartagena in 1945; and Hotel El Panama by Faranda Grand in Panama City. Three boutique hotels are opening in Cartagena, and also in Bogota, Barranquilla and Cali. The property in Cali marks the relaunch of Radisson Hotel Group Americas in this market.
Mast Capital acquires Saddlebrook Resort: Mast Capital, Miami, Florida, has acquired the 480-acre Saddlebrook Resort in Tampa’s Wesley Chapel area from the Dempsey family. The property houses a 500-room condo-hotel resort, 45 tennis courts, two 18-hole golf courses, a tennis academy and over 100,000 square feet of meeting space. The joint venture between Mast Capital and Amzak Capital Management plans to invest in renovating the resort, golf course and other amenities and in future add residential and commercial uses to the property. This is Mast Capital’s second acquisition in the Tampa market, after acquiring more than 16 acres of vacant land in Wesley Chapel in a joint venture with Rockpoint Group in November 2021. The new owners will develop a 248-unit luxury apartment community there.
EOS Investors grows in coastal South Carolina: EOS Investors, New York City, announced the acquisition of the Beach House Resort in Hilton Head Island, South Carolina, from Westport, Connecticut-based Northview Hotel Group. The price was not disclosed. Spread across 4.6 acres, the oceanfront resort features 202 keys and 7,000 square feet of indoor and 10,000 square feet of outdoor meeting space. The acquisition grows EOS’ presence in coastal South Carolina after the acquisition of Kingston Resorts in 2019 and partnering with Brittain Resorts in 2021, both in Myrtle Beach.
Ukrainian hotel body seeks restrictive measures on Russia: The Ukrainian Hotel and Resort Association (UHRA) in a statement has urged U.S.-based tourist and hospitality associations and the entire tourism community to seek enforcement of restrictive measures on Russia’s tourism and hospitality industry. Frank Wolfe, CEO for Hospitality Financial and Technology Professionals, spoke to Irina Sidletska, president of the UHRA, while she was seeking refuge in a bomb shelter in Ukraine and requested the statement to be released. The UHRA has sought Russia to be expelled from UNWTO, the IATA and its bodies. The association has urged global OTAs to immediately stop their services in Russia, as well as for Russian entities and individuals. The UHRA has also urged international wholesalers and tour operators to terminate their relationships serving Russian tourists and business units.
US performance improves significantly: Hotel performance in the U.S. improved from the previous week and showed significant improvement compared to 2019, according to STR’s latest data through February 26.
- Occupancy: 62.2% (-4.7%)
- ADR: US$143.83 (+13.1%)
- RevPAR: US$89.45 (+7.7%)
Among the top 25 markets, Orlando registered the largest occupancy increase over 2019 (+6.7% to 85.9%). San Francisco/San Mateo saw the largest occupancy decrease (-31.9% to 53.7%). Driven by the South Beach Wine & Food Festival, Miami posted the highest ADR (+47% to US$365.64) and RevPAR (+55.1% to US$325.36) increases over 2019. The steepest RevPAR deficits were in San Francisco/San Mateo (-52.6% to US$87.68) and Washington, D.C. (-45.7% to US$61.61).
Meetings volume jump 340% over February 2021: Meetings volume from January to February jumped 48.1%, increasing 340% over February 2021, as per Knowland’s monthly meetings and events data. Individual recovery metrics (average attendees and average space used) have now leveled with 2019. The average number of attendees per event this February was 102, compared to 39 in February 2021 and 115 in February 2019. The average space used this February was 2,589 square feet while meetings in February 2021 and February 2019 averaged 1,560 square feet and 2,837 square feet, respectively. The top five growth markets were San Diego, Phoenix, Chicago, Atlanta and Dallas. The corporate sector accounted for more than 63% of meeting and event business, with technology, healthcare and training/education leading as the largest industry groups. Compared to 2019, in terms of recovery standpoint, online retailer, art/entertainment and sports entertainment and media were at the highest levels of recovery in February.
OTO acquires Best Western Fort Walton Beach: OTO Development, the Spartanburg, South Carolina-based hospitality company owned by The Johnson Group, has acquired Best Western Fort Walton Beach in the Florida Panhandle. David Altman and Robert Hunter of Marcus & Milichap represented the seller in the deal, which closed on February 28. The 100-key hotel comprises six floors, with 60 of the rooms including balconies overlooking the Gulf. The group will soon be refurbishing the hotel, which is slated to begin this September and due to be completed by Aril 2023. OTO is partnering with Pond, the Georgia-based architecture and planning firm, for the hotel’s new design. A gym will be added, while the existing bar and tiki hut will be transformed into a full-service restaurant with a lounge.
LARC’s 1Q 2022 outlook: RevPAR in the U.S. will increase 18.4% this year, boosted by a 4.4% rise in occupancy and a 13.4% jump in ADR, according to the Lodging Analytics Research & Consulting’s 1Q 2022 Hotel Industry Outlook and Market Intelligence Reports. It predicts U.S. hotel EBITDA will jump by almost 60% and hotel values to rise 12% this year. While ADR and hotel values are expected recover to 2019 levels this year, RevPAR and hotel EBITDA will reach 2019 levels only by 2023 and occupancy will be slightly below 2019 levels by 2023, the report said. The demand outlook for this year dipped due to the Omicron variant and its 1Q 2022 impact. However, this decline was offset by a lower supply growth outlook and improving ADR growth, resulting in 2022 RevPAR that is almost same from last quarter.
Bodega Bay Lodge rebrands: Woodside Hotel Group announced that The Bodega Bay Lodge in Sonoma Coast, California, will be rebranded and renamed as The Lodge at Bodega Bay. The lodge features 83 rooms with ocean views and private balconies. In time for its 50th anniversary, the property is set to add a reimagined Captain’s Quarters, the largest room. The 1,200 square foot suite will feature a fireplace, 600-foot wrap-around sundeck with views of the bay. Additionally, 15 rooms and suites are being renovated which will be completed this spring.
Benchmark Pyramid grows in Denver: Texas-based Benchmark Pyramid has assumed management of two hotels in Denver, Colorado — the 561-key DoubleTree by Hilton Hotel Denver and the 300-room DoubleTree by Hilton Denver Central Park. The addition of the two properties brings Pyramid’s global portfolio to 245 hotels.