Breaking news about deals, development, data and more.<\/p>\n
Down week in US.<\/strong> The U.S. hotel industry from October First Thompson in APAC. <\/strong>Hyatt Hotels Corp. has opened the 254-room Thompson Shanghai MGM misses.<\/strong> MGM Resorts International reported third quarter earnings Invesco fund buys Blu.<\/strong> Invesco Real Estate\u2019s European Hotel Fund has made an Essendi sells in Argentina. <\/strong>Paris-based owner-operator Curator expands.<\/strong> Curator Hotel & Resort Collection has added three hotels to its portfolio with more than 100 properties. The new hotels are Garden of the Gods Resort and Club, Colorado Springs, Colorado; The National Exchange Hotel, Nevada City, California; and The Holbrooke Hotel, Grass Valley, California.<\/p>\n Accor grows in Africa.<\/strong> Accor has signed a master development agreement with Mayan Hoxton to Madrid.<\/strong> Ennismore has signed a deal for the 192-room Hoxton, Madrid, Four Seasons residences at Red Sea.<\/strong> Four Seasons\u00a0in partnership with\u00a0Red Sea Global,\u00a0announced Tivoli adds Puglia.<\/strong> Minor Hotels has announced a new Tivoli Hotels & Resorts Korea’s Sono buys Cross Hotels. <\/strong>South Korea\u2019s Sono International Co. Ltd. has acquired Cross
\n19-25 reported negative year-over-year comparisons, according to Costar data. Overall,
\n21 of the Top 25 Markets saw an occupancy decline.\u00a0Occupancy was 66.6%
\n(-3.6% YOY); ADR was $166.36 (-1.7% YOY); and RevPAR was $110.78 (-5.3% YOY). Among
\nthe Top 25 Markets, Tampa reported the steepest occupancy drop (-24.2% to
\n63.7%) due to the elevated displacement demand period that followed Hurricane
\nMilton in 2024.\u00a0New Orleans posted the largest decreases in ADR (-35.3% to
\n$195.39) and RevPAR (-41.9% to $132.94). The market\u2019s performance was affected
\nby a comparison against Taylor Swift\u2019s 2024 Eras Tour dates.<\/p>\n
\nExpo, marking the debut of the Thompson Hotels brand in the Asia Pacific
\nregion. The hotel is a part of Expo Place\u2014part landmark commercial complex,
\npart hub of art, retail, and leisure, set along the riverfront with extensive
\nurban links.<\/p>\n
\nthat included adjusted earnings per share of $0.24, missing consensus of $0.39. Revenue rose 2% year-over-year to $4.3 billion, slightly
\nabove the $4.25 billion consensus, driven primarily by strong performance at
\nMGM China. MGM\u2019s Las Vegas operations showed weakness with revenue
\ndeclining 7% year-over-year to $2 billion. MGM attributed this drop to
\nthe MGM Grand Las Vegas room remodel, decreased RevPAR, lower table games win
\npercentage, and reduced food and beverage revenue. \u201cWe are seeing encouraging
\nsigns of stability in Las Vegas with the return of the group and convention
\nseason and the completion of the MGM Grand room remodel,\u201d said MGM CFO and
\nTreasurer Jonathan Halkyard.<\/p>\n
\noff-market acquisition of 189-room Radisson Blu in Marseille, France, for
\n\u20ac43.5m, bringing the fund’s portfolio to 11 hotels across Europe’s gateway
\ncities. Union Investment was the seller after a 20-year hold and a
\ncomprehensive refurbishment last year. The property operates under a long-term
\nlease to the Radisson Hotel Group, Brussels.<\/p>\n
\nEssendi has sold five hotels in Buenos Aires and Mendoza, Argentina to ISWM
\nGroup. Essendi said the sale was aimed at consolidating the group’s position in
\nthe economy and midscale segments in Europe. With this disposal,\u00a096% of
\nEssendi’s hotel portfolio is now located in Europe. This strategy is also
\nreflected in recent initiatives such as the opening of the Tribe Krakow Old
\nTown in Poland, the buy-back of the ibis Edinburgh Centre South Bridge, and the
\nrenovation of the Novotel Zurich Airport Messe. Essendi added that it continues
\nto own hotels located in Chile, Colombia, Mexico, and Peru), and is collecting
\nand analyzing investment proposals from interested parties.<\/p>\n
\nProperties, a subsidiary of Resources Investment, to develop five hotels across
\nSub-Saharan Africa, adding over 1,100 keys to Accor\u2019s regional portfolio. The
\ncollaboration builds on the signing of Novotel Nouakchott in Mauritania, a
\n154-key new-build project, and M\u00f6venpick Moroni in Comoros, a 159-key
\nconversion, with four additional projects to follow in key destinations. Accor
\ncurrently operates more than 175 properties across Africa, representing over
\n33,000-plus keys across 15 brands. It has another 60-plus properties in
\ndevelopment.<\/p>\n
\nwhich is set to open in 2026. The hotel will be located on Plaza de Santa Ana,
\nand comes as the brand\u2019s second destination in Spain, following The Hoxton,
\nPoblenou, which opened in Barcelona in 2022. The refurbishment of The Hoxton,
\nMadrid, will be led by Petra AM, with the support of Urban Input Group, which
\npreviously helped bring The Hoxton, Paris and Poblenou to life.<\/p>\n
\nthe\u00a0Four Seasons Private Residences Red Sea at Shura Island. Located
\nwithin The Red Sea, Red Sea Global\u2019s flagship regenerative, tourism
\ndevelopment, just 75 Four Seasons residences are being released with 43 Dune
\nVillas and 32 Waterside Villas. They will be located between the Four Seasons
\nResort and the Shura Links golf course. The three-to five-bedroom residences
\nwill feature floorplans ranging from 414 to 534 square metres (4,467 to 5,748
\nsquare feet), private infinity pools and expansive terraces for al-fresco
\nliving.<\/p>\n
\nin Italy, in the heart of Puglia. Following a comprehensive renovation, the 45-room
\nTivoli Palazzo Risorgimento Lecce is set to open in April 2026.<\/p>\n
\nHotels and Resorts from Flight Centre Travel Group Ld. The Asia-based hotel
\nmanagement business consists of Cross Hotels and Resorts and PT Bespoke
\nHospitality Management Indonesia and includes more than 1,500 keys at 17 hotels
\nacross Thailand and Indonesia. Cross\u2019 portfolio includes five brands, ranging
\nfrom urban lifestyle hotels to premium resort properties. Starting with this
\nacquisition, Sono International said it plans to add 10 more hotels and resorts
\nin Thailand and Indonesia by 2029.<\/p>\n","protected":false},"excerpt":{"rendered":"Breaking news about deals, development, data and more. Down week in US. The U.S. hotel industry from October…\n","protected":false},"author":2,"featured_media":538470,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5309],"tags":[11410,17466,19915,26722,26719,26731,26725,26723,1700,12920,2000,299,26732,18192,36,26721,2848,26730,26716,3274,388,15909,5642,152269,26729,300,26720,26717,26728,26726,26727,2413,26718],"class_list":{"0":"post-538469","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-france","8":"tag-asia-pacific","9":"tag-asset-management","10":"tag-brands","11":"tag-c-corps","12":"tag-caribbean","13":"tag-condo-hotels","14":"tag-data-and-lists","15":"tag-debt-and-equity","16":"tag-economy","17":"tag-emea","18":"tag-eu","19":"tag-europe","20":"tag-extended-stay","21":"tag-financing","22":"tag-france","23":"tag-franchising","24":"tag-global","25":"tag-independents","26":"tag-insights","27":"tag-latin-america","28":"tag-lifestyle","29":"tag-luxury","30":"tag-management","31":"tag-mergers-and-acquistions","32":"tag-midscale","33":"tag-north-america","34":"tag-owners","35":"tag-regions","36":"tag-upper-midscale","37":"tag-upper-upscale","38":"tag-upscale","39":"tag-wall-street","40":"tag-whats-hot-trending"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/538469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=538469"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/538469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/538470"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=538469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=538469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=538469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}