Ashford
sells in Boston. Dallas-based
REIT Ashford Hospitality Trust (AHT) has signed an agreement to sell the
315-key Courtyard Boston Downtown in Massachusetts for $123 million ($390,500
per key). The sale is expected to be completed in January. When adjusted for AHT’s anticipated capital
expenditures, the sale price represents a 5.9% capitalization rate on net
operating income for the trailing 12 months through the third quarter of 2024,
or 14.3x Hotel EBITDA for the same period. AHT President and CEO Stephen
Zsigray said “the sale will not only deleverage the company’s BAML Highland
Pool loan, but will also result in significant capital expenditure savings.” He
said the REIT continues to have several assets in the market at various stages
of the sales process.

MB
Signature adds in Orlando. Mérida, Mexico-based MB Signature Properties is developing the 199-key
MB Resort Orlando in Florida, which is scheduled to open in winter 2028. There
will be an investment of more than $250 million for the property, which the
company says will be one of the top luxury properties in Orlando.

Conrad
Algarve in Portugal sells. The owners of the Quinta do Lago resort in Faro, Portugal, have acquired
the Conrad Algarve hotel from a fund managed by Portugal-based ECS, an asset
management entity partly owned by New York City-based Davidson Kempner Capital
Management. While the financial terms weren’t disclosed, Quinta do Lago owner
Denis O’Brien reportedly is trying to buy the hotel for €100 million. The
Conrad Algarve has 154 hotel rooms, 80 serviced apartments and two villas.

Meliá
adds in D.R. Palma,
Spain-based Meliá Hotels is partnering with Punta Cana, Dominican
Republic-based Vivantia Homes to open two new properties in the Dominican
Republic under its INNSiDE by Meliá brand. The upcoming hotels, INNSiDE Punta
Cana Downtown and INNSiDE Punta Cana Bay, are scheduled to open in 2027 and
will be located near Punta Cana International Airport.

Maybourne
seeks to expand. London-based Maybourne, which owns Claridge hotels, wants to nearly triple the
size of its portfolio of hotels in the next decade, according to a report from
The Financial Times. Maybourne owns and operates six hotels, four in London and
one each in Beverly Hills and the French Riviera, and wants to have a portfolio
size of 15 to 17 by 2035 (though half of those would be by management contract
only and not under Maybourne’s ownership). Maybourne is owned by Qatari
royals Sheikh Hamad bin Jassim bin Jaber al-Thani and Sheikh Hamad bin Khalifa
al-Thani.

IHG
introduces voco to Malaysia, Jordan. IHG Hotels & Resorts is partnering with Malaysian real
estate developer Elica Equity to introduce its voco brand in Malaysia. The
321-key voco Kuching in Sarawak, Malaysia, is scheduled to open in 2026 and
will be part of a 12-story mixed-use development. IHG is also partnering with
Amman, Jordan-based Abdali Boulevard Company to debut the voco brand in Jordan.
The Abdali Boulevard Hotel is scheduled to be converted and rebranded as a
392-key voco property by December 2025. IHG has 77 voco properties worldwide
and 80 more in the pipeline.

1 Hotel
debuts in Japan. Miami-based SH Hotels & Resorts is partnering with Toyko-based Mori Trust
to introduce its 1 Hotel brand to Japan with the 211-key 1 Hotel Tokyo, which
is scheduled to open in 2025. The projects will anchor Mori Trust’s Tokyo World
Gate Akasaka project in Tokyo.

IHG adds
in India. IHG Hotels
& Resorts has signed a management agreement with Sakthi Elegant Towers
India Pvt. Ltd. to develop the Holiday Inn Chennai Vandalur in Chennai, India.
The 200-key is scheduled to open in 2026. IHG has 46 hotels operating across
six brands, with 58 more in its pipeline scheduled to open in the next three to
five years.

Choice
adds in Austria. Choice Hotels EMEA has signed a strategic agreement with Prague-based CPI
Hotels to open the 201-key Clarion Hotel Vienna South in Vienna, Austria.