A quick roundup of global hospitality news.
TRADEMARK COLLECTION BY WYNDHAM DEBUTS IN TURKEY: Wyndham Hotels & Resorts has opened the 68-key Istanbul New Airport Hotel, which marks the debut of the Trademark Collection by Wyndham brand in Turkey. Located in the Arnavutkoy district in Istanbul, the hotel is a new construction that features an on-site restaurant, concierge and business center. Wyndham currently has 95 hotels open and operating and over 20 under development in Turkey. Since the brand was launched in 2017, the Trademark Collection by Wyndham has grown to include more than 85 hotels globally. The brand is geared towards three- and four-star hotel owners who wish to uphold their properties’ independent spirit.
VOCO LAUNCHES IN VIETNAM: IHG Hotels & Resorts has launched its voco brand in Vietnam with the opening of voco Ma Belle Danang in partnership with Tuyet Lien Son Co Ltd. This marks the 50th voco globally. Located on Danang’s Vo Nguyen Giap Street, the 27-story hotel offers views of the coastline and cityscape and is close to the My Khe Beach. The hotel is designed by a Vietnam-based design studio, dwp. voco Ma Belle Danang features three restaurants and bars, a spa, a gym and more than 521 square meters of flexible meeting and event space. Launched in 2018, voco has 100 properties signed and opened globally and aims to reach 200 properties by 2028.
SAN MANUEL ACQUIRES OWNERSHIP INTEREST IN WALDORF ASTORIA MONARCH BEACH: The San Manuel Investment Authority (SMIA) has acquired an ownership interest in the newly-restored Waldorf Astoria Monarch Beach Resort & Club located in Dana Point, Calif., through its affiliated entities. The San Manuel Band of Mission Indians partnered with Ohana Real Estate Investors as co-owners of the luxury resort. SMIA has a nearly 40% ownership interest in the Southern California coastal property, with the option to acquire additional shares through one or more transactions in the future. The resort includes 400 refurbished rooms and suites, a private beach club, seven F&B options, a spa, three swimming pools, an 18-hole championship golf course and meeting and event space. Jefferies and Berkadia Real Estate advisors served as financial advisors, while Goodwin Procter acted as San Manuel’s legal counsel.
HOTEL EQUITIES GROWS MIDWEST PORTFOLIO: Hotel Equities, the full-scale hotel ownership, management and development company, has assumed management of the Element Moline in Moline, Ill. The downtown hotel is owned by Moline Promenade Investors, LLC. The hotel has loft-like accommodations featuring kitchenettes and spa-inspired bathrooms, a 24-hour fitness center, an indoor pool and a meeting space. Hotel Equities’ portfolio presently consists of 300 hotels and resorts across the U.S. and Canada.
$16.6M LOAN FOR HYATT PLACE HOTEL: Dallas-headquartered HALL Structured Finance has originated a $16.6 million first lien construction loan for a Hyatt Place hotel in Jackson, Tenn. The five-story hotel will be adjacent to the Jackson-Madison County General Hospital (JMCGH) and will feature 127 rooms. The hotel will also offer a restaurant with indoor and outdoor seating, 2,500 square feet of meeting space, a fitness center, a pool and a guest laundry room. The Ronald McDonald House will lease the hotel’s second floor — which includes 20 rooms, a community kitchen and living room and laundry facilities — which will be used by families of children receiving medical attention at the JMCGH’s neonatal intensive care unit and Le Bonheur Children’s inpatient unit, also located at the hospital. Hunt Properties is developing the hotel, which is expected to be completed in 2024.