New-build Canopy. Hilton Worldwide and Beatty Development Group on Tuesday announced plans to develop the 156-room Canopy Baltimore | Harbor Point. Beatty estimates breaking ground on Wills Street Wharf in the second quarter of 2016 with an approximate 18-month delivery schedule.
IHG signs in Serbia: IHG signed the Crowne Plaza Novi Sad in Serbia. The 144-room hotel is scheduled to open in 2016 and will operate under a franchise agreement with Plaza AGNS DOO Novi Sad.
Starwood grows in Japan: Starwood Hotels & Resorts Worldwide signed an agreement with Sunmarina Operations Co., Ltd., part of Ishin Hotels Group, to debut the Sheraton brand in Okinawa, Japan. The Sheraton Okinawa Sunmarina Resort is scheduled to open in mid-2016 after an extensive re-branding of the existing Sunmarina Hotel, with an additional 45 rooms being added in early 2017 with the construction of a new-build tower.
Read more at Starwood’s website
Dusit grows in the Philippines: Dusit International signed a deal with Grand Land, Inc. to open a dusit2 Residence to the island of Cebu in the Philippines. dusitD2 Residence Cebu City is scheduled to open in 2019.
PMHS adds five hotels: PM Hospitality Strategies signed agreements to operate five hotels in Pennsylvania on behalf of three separate ownership groups: Crowne Plaza Philadelphia – King of Prussia, Fairfield Inn by Marriott Philadelphia Valley Forge/King of Prussia, Embassy Suites by Hilton Philadelphia Valley Forge, DoubleTree by Hilton Hotel Reading and The Franklin Hotel at Independence Park.
Hunter Mountain sold: Peak Resorts has entered into an agreement to purchase Hunter Mountain in the Catskills for cash consideration of US$35 million plus the assumption of two capital leases estimated at approximately US$1.8 million.
FibraHotel acquires iconic Monterrey hotel: FibraHotel acquired the iconic Fiesta Americana Monterrey hotel inside the Pabellon M mixed-use complex. The hotel includes 177 full-service rooms and will be operated by Grupo Posadas.
Carlson to buy-out India JV: Carlson Rezidor Hotel Group is reportedly buying out majority stake held by Ranjan Bhattacharya in its joint venture company Country Development & Management Services. The JV manages a portfolio of Country Inns & Suites By Carlson in India.
Taj to launch travel agent portal: Taj Hotels Resorts and Palaces will launch a dedicated travel-agent portal in mid-2017. The section will enable agents to register, create profiles, make bookings, and expedite collecting commissions.
Read more at Travel Market Report
Record-setting transactions: Lodging Econometrics reports through September, there were 827 hotel sales in the U.S. with reported selling prices with an average selling price per room (ASPR) of US$165,303, an all-time high. The ASPR is 11% higher than the US$148,658 recorded for year-end 2014.