PIVOT TO MANAGE KEY WEST HISTORIC INNS: Pivot, the lifestyle operating division of Davidson Hospitality Group, has been selected by San Francisco-based KHP Capital Partners to manage the Key West Historic Inns Collection, which includes five historic and reimagined properties. These five properties are Winslow’s Bungalows, Lighthouse Hotel, Ridley House, Ella’s Cottages and Fitch Lodge. Located in Old Town Key West, the portfolio features two pool bar concepts and seven outdoor swimming pools. Within Florida, Pivot operates the Islamorada Resort Collection in Islamorada, Baker’s Cay Resort, Curio Collection by Hilton in Key Largo and The Gabriel Miami Downtown, Curio Collection by Hilton. Currently, Davidson Hospitality operates 22 properties across Florida.
WATERWALK OPENS IN HUNTSVILLE, ALA.: WaterWalk has opened WaterWalk Huntsville, its first property this year under the brand’s Gen 2.0 model. This also marks WaterWalk’s 12th location. Located in Huntsville, Ala., the hotel blends an upscale extended-stay property and home with fully furnished ‘Stay’ units and ready-to-furnish ‘Live’ units. The hotel is west of downtown and is close to Boeing, NASA’s Marshall Space Flight Center and the U.S. Space and Rocket Center. The 126-key property features 76 fully furnished ‘Stay’ units and 50 ready-to-furnish ‘Live’ units ranging in size from studios to two-bedroom spaces. Some rooms include balconies. All rooms have fully equipped kitchens with full-size appliances, a pantry, a kitchen island and a full-size washer and dryer. The hotel’s common area includes ‘The Living Room’ in the lobby with an espresso station, lending library, workstations, board games and television. The hotel also offers a grab-and-go station in the lobby, an outdoor pool, a fitness center and a back patio.
HI EXPRESS NASHVILLE SELLS: Noble Investment Group has acquired the Holiday Inn Express Nashville Downtown. Located on Broadway in downtown Nashville, Tenn., the hotel is situated within the city’s entertainment district and close to multiple live music venues, bars and restaurants and shopping experiences. Although other terms of the transaction were not disclosed officially, a report suggested that Dallas-based Highland Capital Management Fund sold the hotel for around $81.76 million. Highland Capital acquired the eight-story, 287-room hotel in January 2019 for over $117 million, the report added.
PM HOTEL GROUP, THOMAS PRINS PARTNER: PM Hotel Group has partnered with TQP Capital Partners, led by industry veteran and principal at TQP Thomas Prins, to grow its business development platform. The partnership will capitalize on Prins’ experience and industry insights to identify and pursue new business opportunities for PM Hotel Group. TQP will help PM Hotel Group expand its portfolio, leveraging Prins’ understanding of the industry on behalf of the company. TQP will help source new third-party management contracts and identify off-market opportunities and capital groups looking to acquire hotels. The alliance will allow PM Hotel Group and TQP to co-invest equity.
RECORD HIGH ROOM RATES IN SYDNEY: Sydney’s hotel industry saw its highest monthly ADR on record, helped by New Year’s Eve, according to CoStar’s preliminary December data.
- Occupancy: 77.1% (+9.9%)
- ADR: AU$313.27/$206.86 (+4.8%)
- RevPAR: AU$241.66/$159.57 (+15.3%)
Hotels achieved their highest occupancy level on New Year’s Eve (94%), followed by December 2 (Saturday) (93.8%). Occupancy levels were above the 60% mark throughout the month except for two days. New Year’s Eve pushed ADR to AU$776.69 ($51.3).