Palihouse Miami Beach rebrands: Driftwood Hospitality Management, based in Florida, will take over management of the Palihouse Miami Beach and rebrand it as hotel Trouvail Miami Beach. The hotel has earlier been known as Greenbriar Hotel. The new independent Hotel Trouvail will feature 70 rooms and studios, most with kitchenettes. A French-inspired restaurant will launch in the hotel early next year. The hotel is owned by Greenbrier Partners, LLC.
IHG adds two more in Portugal: IHG Hotels & Resorts has grown its presence in Portugal with the announcements of two signings — Convent Square Hotel Lisbon Vignette Collection and Crowne Plaza Caparica Lisbon. Convent Square Hotel is one of the newest additions to IHG’s youngest brand and will be a flagship property globally. The 121-room hotel, which will open in 2023, is owned by PHC Hotels – Portuguese Hospitality Collection and includes a restaurant, lounge and patio area, leisure and wellness facilities. The Crowne Plaza Caparica Lisbon is owned by Discovery Portugal Real Estate fund, with Explorer Investments as an investment advisor. Crowne Plaza Caparica Lisbon, will be converted from the existing Hotel Aldeia dos Capuchos Golf & Spa and have 227 rooms consisting of bedrooms, studios and apartments. The hotel will also include meeting rooms, three food and beverage venues, a wellness center and a nine-hole golf course. Currently, there are 89 open Crowne Plaza hotels and 16 more in the pipeline across Europe.
MCR grows Tennessee portfolio: MCR has acquired the 124-suite Staybridge Suites Chattanooga Downtown in Chattanooga, Tennessee. The five-story, extended-stay hotel was acquired at over a 25% discount to MCR’s estimated replacement cost. MCR can also create additional value by converting 13,000 square feet of underutilized space on the ground floor into more rooms, retail, or meeting area and monetizing the property’s 2.2-acre site offering additional development potential in a downtown location. This marks MCR’s fifth hotel in Tennessee.
Radisson adds in Thailand: Radisson Hotel Group has signed Radisson Resort Hua Hin in Thailand with Bangkok-based Destination Group. The 243-key beachfront resort is scheduled to open in February 2023. When it opens, this will be Radisson’s sixth property in Thailand. The signing grows Radisson’s partnership with Destination Group, following the opening of the Radisson Resort & Suites Phuket in September. Identifying Thailand as a key focus market, Radisson aims to double its portfolio in the country by next year.
Vivo Investments secures US$45M for conversion: California-based Vivo Investments has secured a US$45 million loan to acquire and convert a two-tower hotel in downtown Baltimore, Maryland, to 708 multi-family units. The former dual-branded Radisson and Holiday Inn property will be rebranded as Vivo Baltimore and is scheduled to open in late 2024. Parkview Financial provided the financing. The project’s architecture will be led by Urban Design Group. The 23- and 27-story buildings, sitting on a 1.6-acre plot of land, will be converted into 687 studio units, 12 one-bedroom units, eight two-bedroom units and one four-bedroom unit. Amenities will include a pool, gym, self-storage and event or co-working spaces.
Braemar completes Four Seasons Scottsdale acquisition: Texas-based Braemar Hotels & Resorts has completed the acquisition of the luxury 210-key Four Seasons Resort Scottsdale at Troon North in Scottsdale, Arizona., for US$267.8 million. The purchase was funded with cash on hand and no common equity was used. Of the total consideration, US$250 million (US$1.2 million per key) has been allocated to the existing resort, representing a 5.7% capitalization rate on hotel net operating income of US$14.2 million and a 15.2x hotel EBITDA multiple. The excess developable land of 5.7 acres has been initially allocated US$17.8 million of the acquisition price and is zoned for commercial use.
Quorum adds two in California: California and Texas-based Quorum Hotels & Resorts has added two coastal California properties to its portfolio — Inn at the Pier Pismo Beach and Hotel Virginia Santa Barbara, Tapestry Collection by Hilton. The historic 61-key Hotel Virginia Santa Barbara completed a full renovation and rebrand in August. Opened in 2017, the Inn at the Pier Pismo Beach offers 104 rooms with panoramic views of the Pacific Ocean; along with a rooftop bar and flexible event area. Scheduled to undergo renovations starting this winter, the hotel will introduce a new restaurant concept and redesigned rooftop, updated lobby and bar and refreshed rooms, debuting in the Curio Collection by Hilton in 2023. Presently, Quorum manages 2,000 keys across the U.S.
Motto by Hilton to UK: Motto by Hilton will make its debut in the U.K. with the opening of Motto by Hilton Glasgow scheduled for 2024. The 186-room hotel will be located on the banks of River Clyde and is part of a franchise agreement with Cycas Hospitality and is owned by Silk Property Group. This follows the brand’s European debut with last week’s opening of Motto by Hilton in Rotterdam, the Netherlands.
IHG’s training academy goes global: The IHG Skills Academy, IHG Hotels & Resorts’ training program, has gone global after it was launched last October in the U.K. The program now offers core learning content in eight more languages and is now available in Arabic, French, German, Japanese, Simplified Chinese, Spanish (Latin American), Thai, and Ukrainian as well as English. The academy provides free online education, opportunities and courses for people looking for employment and careers in hospitality. The new language options are being rolled out in partnership with Learning Pool.