Breaking news about deals, development, data and more.
Soft holiday week in US. The U.S. hotel industry from December
22-28 reported negative year-over-year comparisons during the holiday
week, according to CoStar data. Occupancy was 47.7% (-4.9% YOY); ADR was $160.96
(-1.7% YOY); and RevPAR was $76.83 (-6.5% YOY). Among the Top 25 Markets, Tampa
reported the only double-digit increases in occupancy (+16.3% to 74.0%) and
RevPAR (+22.6% to $124.36). Houston posted the highest ADR lift (+5.6% to $97.82). The
steepest RevPAR declines were reported in Nashville (-35.6% to $51.68) and Atlanta
(-21.7% to $40.05).
Travelodge completes Louvre deal. Travelodge in the U.K. has
completed the acquisition of a hotel in Barcelona – the sixth and final hotel
acquired as part of the previously reported deal agreed with Louvre Hotels
Group earlier. Travelodge Barcelona Cornella Fira is a 138-room hotel that
Travelodge will operate on a long-leasehold basis. The five other hotels in
this deal located in Alicante, Barcelona, Madrid, Malaga and Murcia were
acquired on a freehold basis and completed in April. The acquisition builds on
Travelodge’s existing Spanish business, bringing its presence in the Spanish
market to 12 hotels. In October, Travelodge announced it had agreed deals
for three new hotels in Spain located in San Sebastian, Cadiz and Alicante. All
three are new constructions, with work due to commence in 2025. The addition of
these three hotels, once open, will bring its Spanish estate to 15
hotels.
Rotana to Somalia. Rotana has signed a deal for the Mogadishu
Rotana, the first luxury hotel development in Somalia, in partnership
with Riverside Holding. Set for completion in 2026, the property to
be managed by Aleph Hospitality will feature 321 keys, comprising 261 guest
rooms and 60 hotel apartments. Located near Aden Adde International Airport,
the hotel forms part of a master plan to redevelop the capital. The development
plans also include a convention center, hospital, shopping mall, residential
properties, business park, and school in the area. The group will also open the
140-key Arjaan Hotel Apartments by Rotana branded property in Dakar, Senegal,
in 2026. In addition, Rotana is also developing projects in Accra, Cotonou,
Cairo and Luxor. Rotana currently operates 81 hotels across EMEA.