Breaking
\nnews about deals, development, data and more. <\/p>\n
Fort
\nWorth sale.<\/b> Southeastern
\nReal Estate Group has been disclosed as the seller of the 162-key Home2 Suites
\nFort Worth Cultural District in Fort Worth, Texas, that was first reported last
\nweek. A joint venture of Ad Astra Capital and TMGOC Ventures acquired the hotel
\nfor an undisclosed amount. The hotel was built in 2020. Hunter Hotel Advisors
\nfacilitated the transaction.<\/p>\n
New
\nKimpton in California.<\/b> San Francisco-based Maverick Development has completed construction on
\nthe 100-key Kimpton Mirador, a luxury hotel in Pacific Grove, California, a
\ncoastal resort community of the Monterey Peninsula. The Kimpton Mirador is
\nowned and developed by Cypress 16 in conjunction with Interport Capital and L&B Realty Advisors and is scheduled to open in January.<\/p>\n
IHCL-Millennium
\npartnership.<\/b> Singapore-based Millennium Hotels & Resorts has signed a new strategic
\nloyalty partnership with Indian Hotels Co. Ltd. (IHCL). The collaboration
\nbrings together MHR’s MyMillennium and IHCL’s Taj InnerCircle of NeuPass
\nprogram. Under this collaboration, Taj members gain access to Millennium Hotels
\n& Resorts’ global portfolio and receive a 10% discount on rates, while
\nMillennium receives similar benefits for IHCL.<\/p>\n
IHG adds
\nin Nepal.<\/b> IHG Hotels
\n& Resorts has signed a management agreement with Club Chaulani Ltd. to
\ndevelop the 115-key Holiday Inn Dhangadhi in Nepal. Scheduled to open in Q1
\n2028, the signing marks IHG\u2019s entry into the Sudurpashchim Province and
\nreflects the company\u2019s strategy to expand its presence in high-potential,
\nunderserved markets across South Asia. IHG currently operates 51 hotels across
\nsix brands in India and has a pipeline of 80 hotels due to open over the next
\nthree to five years.<\/p>\n
Wyndham
\nadds in India.<\/b> Wyndham Hotels & Resorts is partnering with Hyson Hospitalities Private
\nLtd. to develop the 57-key Ramada Encore by Wyndham Kochi Kalamassery. The hotel
\nis scheduled to open in 2026.<\/p>\n
New marketing agreement for MGM China.<\/b> MGM Resorts International has entered into a long-term branding agreement with MGM China Holdings Ltd., effective
\nJanuary 1. The branding agreement provides for a term through the end of the
\ncurrent concession in 2032. If a further concession is granted or awarded, the
\nterm shall be automatically extended until the earlier of the expiration of a
\nnew concession or December 31, 2045. MGM China’s market share has nearly
\ndoubled from a pre-pandemic level of approximately 9% to a year-to-date share
\nof roughly 16% as of September 30. The new monthly license fee has increased
\nfrom 1.75% to 3.5% of MGM China’s adjusted consolidated net monthly revenues.<\/p>\n","protected":false},"excerpt":{"rendered":"Breaking news about deals, development, data and more. Fort Worth sale. Southeastern Real Estate Group has been disclosed…\n","protected":false},"author":3,"featured_media":467058,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5138],"tags":[58496,5229,13214,38891,12016,30368,212478,240,212474,2556,79,103001,212479,7371,7372,124807,2126,25983,106807,1612,1165,13089,3628,8396,212473,212477,587,22677,5756,358,3187,67,586,132,5230,212476,212475,186369,68,2969,212472],"class_list":{"0":"post-467057","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-fort-worth","8":"tag-financing","9":"tag-america","10":"tag-asia-pacific","11":"tag-asset-management","12":"tag-brands","13":"tag-caribbean","14":"tag-condo-hotels","15":"tag-deals","16":"tag-debt-and-equity","17":"tag-development","18":"tag-economy","19":"tag-emea","20":"tag-extended-stay","21":"tag-fort-worth","22":"tag-fortworth","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-acquisitions","32":"tag-mergers-and-acquistions","33":"tag-midscale","34":"tag-north-america","35":"tag-owners","36":"tag-regions","37":"tag-texas","38":"tag-tx","39":"tag-united-states","40":"tag-united-states-of-america","41":"tag-unitedstates","42":"tag-unitedstatesofamerica","43":"tag-upper-midscale","44":"tag-upper-upscale","45":"tag-upscale","46":"tag-us","47":"tag-usa","48":"tag-whats-hot-trending"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/467057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=467057"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/467057\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/467058"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=467057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=467057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=467057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}