YOTEL EXPANDS INTO MALAYSIA: YOTEL has partnered with High Street Holdings to sign its first hotel in Malaysia. Slated to open in the summer of 2025, YOTEL Kuala Lumpur will be located in the Kuala Lumpur City Centre district in the city’s Golden Triangle. The hotel, which will be part of a mixed-use development, will consist of a rooftop pool and bar with views of the city and other signature YOTEL offerings, such as a multi-functional dining and co-working space, grab-and-go station and a fitness center. Asia is a key market for YOTEL’s growth plans. The Kuala Lumpur hotel joins the group’s Asian pipeline, alongside Bangkok and Tokyo, as YOTEL aims to double its footprint in the region. London-based YOTEL currently has 22 properties globally.
EDITION HOTELS’ CARIBBEAN DEBUT: EDITION Hotels, part of Marriott International, has opened its first Caribbean property with the launch of The Riviera Maya EDITION at Kanai, a new luxury resort community in Mexico. Located in the Yucatan Peninsula, the hotel sits in a 620-acre nature reserve with two miles of beachfront. The hotel offers 182 rooms, including 30 suites, with many featuring plunge pools and terraces. The property also offers a Sky Rooftop Villa, one of the largest penthouses in North America, with 1,486 square meters of interior space comprising five apartment-like suites (each with their own plunge pool, jacuzzi and private terrace), a mid-Olympic size outdoor infinity pool and landscaped entertainment deck. The property features two swimming pools, five dining options, a spa, a fitness center and a ballroom that can accommodate up to 450 guests. The property’s interiors are a collaboration between Ian Schrager Co. and the architecture and design company Rockwell Group, while Edmonds International has designed the architecture. The resort consists of three main buildings with a bamboo structure designed by Eduardo Neira. Currently, EDITION operates 18 hotels globally. Upcoming openings this year include a second property in Tokyo.
ROSEWOOD GROWS CARIBBEAN PORTFOLIO: Rosewood Hotels & Resorts has expanded its presence in the Caribbean and is set to open a resort on the secluded island of Barbuda. Developed by Murbee Resorts, Rosewood Barbuda will feature 50 suites and 35 residences. Spanning 85 acres, including 900 meters of beachfront, the resort will offer three dining venues, a spa with six treatment rooms, a fitness center and two swimming pools with one dedicated to families. The resort is expected to open in 2028 and will join Rosewood Baha Mar, Rosewood Little Dix Bay and Rosewood Le Guanahani St. Barth in the Caribbean islands.
U.S. PERFORMANCE UPDATE: Hotel performance in the U.S. improved from last week, according to CoStar’s data through December 2.
- Occupancy: 54.2% (-1.6%)
- ADR: $144.88 (+0.8%)
- RevPAR: $78.54 (-0.8%)
Among the top 25 markets, New York City saw the highest YOY improvements in occupancy (+6.8% to 83.5%) and RevPAR (+17.2% to $319.18). Las Vegas recorded the highest ADR lift (+11.2% to $232.94). Due to the Miami Art Week/Art Basel calendar shift, Miami posted the steepest declines in each of the three key performance metrics: occupancy (-14% to 69%), ADR (-42.5% to $191.20) and RevPAR (-50.6% to $131.93).
PIVOT TO MANAGE ASHER ADAMS: The Athens Group and its partner Hatteras Sky have selected Pivot, the lifestyle operating unit of Davidson Hospitality Group, to operate and manage Asher Adams, its Marriott Autograph Collection hotel in Salt Lake City. Slated to open in fall 2024, the 225-room hotel recently topped off construction and features the adaptive reuse of the Union Pacific Depot Train Station. The hotel consists of the historic train station along with a new eight-story guestroom tower. The hotel will also have a signature restaurant, a patisserie and two bars, a fitness center and meeting and event areas.