U.S. PERFORMANCE RISES: Hotel performance in the U.S. surged compared to the week prior and showed mixed comparisons against 2019, as per STR’s latest data through Jan. 14.
- Occupancy: 54.8% (-5.5%)
- ADR: $144.81 (+15.7%)
- RevPAR: $79.38 (+9.3%)
Although none of the top 25 markets saw an occupancy increase over 2019, Dallas came closest to its 2019 comparable (-2.1% to 69%). San Francisco posted the highest ADR (+141.1% to $574.24) and RevPAR (+91.9% to S$373.97) increases over 2019, helped by the 41st Annual J.P. Morgan Healthcare Conference. The steepest RevPAR declines were reported in Detroit (-32.6% to $55.32) and Seattle (-21.8% to $78.26).
SAGE ADDS HOTEL VAN ZANDT: Denver-based Sage Hospitality Group has added Hotel van Zandt in Austin, Texas, to its portfolio. The newly independent 319-room hotel will be a part of Sage Independent Hotel Collection, which currently consists of 18 properties. The hotel, which opened in 2015, features a restaurant and music venue –Geraldine’s–, a rooftop pool and 12,000 square feet of event space that can accommodate up to 500 people. Host Hotels & Resorts purchased the hotel in late 2021. The hotel was acquired by Host Hotels & Resorts in late 2021. Sage also manages The Logan hotel in Philadelphia and Denver Marriott Tech Center for Hosts.
THE HOTEL GROUP ADDS IN SEATTLE: The Hotel Group, an affiliate of Hotel Equities based in Edmonds, Wash., has expanded its hotel management footprint in the Pacific Northwest with the addition of two Hyatt-branded hotels in Seattle. The newly added properties are the Hyatt House Seattle Downtown Hotel and the Hyatt Place Seattle Downtown Hotel. Together, the two properties have a key count of 332 rooms. The Hotel Group currently manages seven hotels in Puget Sound.
FIRST HOSPITALITY GROWS PORTFOLIO BY 25%: First Hospitality, the Chicago-based hotel operating and development company, has grown hotels under management by 25% in 2022 and expanded into three new markets, bringing its portfolio to more than 50 hotels across 11 states. The company’s RevPAR growth jumped by around 50% in 2022 and achieved steady RevPAR index growth of 127%. First Hospitality added nine new hotels last year. Third-party management additions included many independent hotels, premium branded select and full-service properties. Multiple soft-branded lifestyle properties were also added, along with restaurants and bars.
LIVAWAY SUITES ARRANGES $85M DEBT FINANCING: LivAway Suites, the Salt Lake City-based newly launched economy extended stay concept, has secured $85 million in debt financing through Keystone National Group for its first locations in the U.S. This year, LivAway Suites are expected to break ground in key extended stay markets in the country.