VIRGIN LIMITED EDITION ADDS TO AFRICAN PORTFOLIO: Virgin Limited Edition has announced the latest addition to its portfolio of luxury retreats – Finch Hattons Luxury Safari Camp in Kenya. This marks the ninth property to join Virgin Limited Edition and its fifth in Africa. The property also becomes a part of Virgin Hotels Collection, the wider parent company which includes Virgin Hotels and Virgin Limited Edition. The safari camp is Virgin Limited Edition’s second property in Kenya. Located in the Tsavo National Park, the family-owned safari camp consists of 17 luxury tented suites with panoramic views of the springs and surrounding landscape and a spa (which includes a pool, hammam and gym).
MARRIOTT, KKR FORAY INTO JAPAN’S MIDSCALE SEGMENT: Marriott International and KKR have ventured into the midscale hospitality segment in Japan, following the completion of KKR’s acquisition of Unizo Hotel Co., Ltd. and a portfolio of 14 hotels in Japan from Unizo Holdings. These 14 properties will be rebranded to Four Points Express by Sheraton, signalling the entry of Marriott into the budget midscale space in Japan and the brand’s introduction in Asia Pacific following its global launch in 2023. The 14 hotels are located across 10 cities in Japan and will open later this year, adding over 3,600 new rooms to KKR’s and Marriott’s portfolios in Japan. KKR’s investment is part of its Asia Pacific real estate strategy and builds on its momentum investing in the Japanese real estate sector. KKR’s previous investments in Japan include an iconic full-service hotel in Shinjuku, KJR Management (formerly Mitsubishi Corp.-UBS Realty Inc.), a Japanese real estate manager which oversees two Japanese REITS; a portfolio of multifamily properties in Tokyo; and office assets.
U.S. PERFORMANCE UPDATE: Hotel performance in the U.S. showed mixed results compared to last week, according to CoStar’s data through May 4.
- Occupancy: 64.4% (-0.8%)
- ADR: $159.97 (+1.3%)
- RevPAR: $103.09 (+0.5%)
Among the top 25 markets, Seattle posted the highest YOY increase in occupancy (+8.1% to 69.4%). Dallas saw the largest lift in ADR (+5.8% to $134.33). The steepest RevPAR declines were seen in Atlanta (-12.7% to $85.87) and San Francisco (-12.5% to $123.02).
VIGNETTE COLLECTION OPENS IN KUWAIT: IHG Hotels & Resorts has introduced its Vignette Collection brand to Kuwait with the opening of Arabella Beach Hotel Kuwait, Vignette Collection. Located along the Arabian Gulf shoreline, the hotel joins IHG’s Luxury & Lifestyle portfolio and is the second Vignette Collection-branded hotel to open in the GCC region. The Arabella Beach Hotel is owned by Aqarat and will be managed by United Hospitality Management. The hotel features 195 rooms and suites. The suites include terraces with panoramic views of the Arabian Gulf. The hotel also offers a rooftop pool, private beachfront, 15 dining destinations and a wellness center. The hotel is among the two Middle Eastern openings by Vignette Collection slated for this year. The brand is expected to have more than 100 properties globally in the next 10 years.