NOVOTEL TO CAMBODIA: Novotel Hotels, Suites & Resorts, part of Accor, has launched Novotel Sihanoukville Holiday Resort. This is the first Novotel hotel in Cambodia. Situated on Independence Beach, the resort features 215 rooms with views over the Gulf of Thailand. The property includes four dining venues, a beachside infinity pool, a separate children’s pool, a kids club and a 315-square-meter ballroom with multi-functional space for events.
WYNDHAM ENABLES INSTANT BOOKING AT U.S. HOTELS: Wyndham has collaborated with Groups360 to rollout GroupSync-Marketplace at more than 5,600 Wyndham hotels, which will enable instant booking for travel planners and managers. GroupSync will allow them to browse real-time rates and availability at all participating properties and directly book 10 to 50 rooms without contacting the hotel or engaging in traditional RFP, thereby saving time. Travel planners can also book meeting spaces for events at hotels using this new feature. Most of Wyndham’s hotels across the U.S. will be available for instant booking on GroupSync this week, with the rest anticipated to go live by the end of the month. Groups360 and GroupSync are also part of the Wyndham Business program.
MCR REFINANCES 16-HOTEL PORTFOLIO FOR $333M: MCR has refinanced a 16-hotel portfolio for $33 million, generating $51 million of net proceeds. MCR has doubled the portfolio’s net operating income within three years, increasing it from $15 million at the time of acquisition to $36 million, representing a 9.4% cap rate on MCR’s cost basis in the properties. MCR acquired the properties, totaling 2,274 rooms, in 2020 and 2021. Comprising 11 Hilton and Marriott extended-stay and select-service brands, the hotels span 11 states and are mainly located in high-growth markets, such as North Carolina, Texas and Arizona. The new financing replaces the original debt with an outstanding balance of $268 million at the time of payoff. Deutsche Bank Securities and BMO Capital Markets served as co-lead managers and joint book runners. Eastdil Secured LLC acted as exclusive advisor, while Fried, Frank, Harris, Shriver & Jacobson LLP served as legal advisor.
ALOFT/ELEMENT ARUNDEL MILLS SELLS: JLL’s Hotels & Hospitality Group has arranged the sale of the dual-branded hotel Aloft/Element Arundel Mills BWI Airport in Hanover, Md. to Spark GHC. Other terms of the transaction were not disclosed. JLL represented the seller. The Aloft part consists of 142 rooms, while the Element comprises 147 rooms. The hotel offers an indoor pool, a fitness center, a meeting space, guest laundry and a 24×7 market. The premium hotel is located off State Route 100, near the intersection of the Baltimore-Washington Parkway.
KIMPTON OPENS IN MEXICO CITY: Kimpton Hotels & Restaurants, part of IHG’s Hotels & Resort’s luxury & lifestyle portfolio, has opened its first boutique hotel in Mexico City. Located in the Polanco neighborhood, Kimpton Virgilio has been developed by ZKC. The hotel features 48 rooms designed by Arquitectura de Interiores Studio, a restaurant, a rooftop pool, a fitness center, a kid’s program and a meeting and events space.