Breaking news about deals, development, data and more.
More good news in US. The U.S. hotel industry from February
15-21 reported positive year-over-year comparisons, according to CoStar data. Occupancy
was 62.2% (+3.1% YOY); ADR was $164.56 (+3.0% YOY); and RevPAR was $102.35
(+6.2%). Among the Top 25 Markets, New Orleans reported the largest
increases in ADR (+14.4% to $225.77) and RevPAR (+31.4% to $177.42). The
market’s performance was helped by Mardi Gras. Las Vegas saw the highest lift
in occupancy (+20.0% to 83.3%) and the second-largest gain in RevPAR (+28.6% to
$152.79). Several events pushed the market’s performance, including the WVC
Annual Conference, MAGIC Las Vegas, and PROJECT Las Vegas. Boston
registered the steepest declines across each of the three key performance
metrics: occupancy (-14.4% to 56.1%), ADR (-6.7% to $158.28) and RevPAR (-20.1%
to $88.75).
Refi in Sedona. The 40-room Ambiente hotel in Sedona,
Arizona, which Two Sister Bosses opened in February 2023, has received $37
million in non-recourse refinancing through a debt fund. The transaction
provides a significant cash-out component, recapitalizing the asset for
continued operations and future growth. JLL Hotels & Hospitality Group
arranged the deal.
Extended-stay data. Extended-stay hotel rooms reported under
construction in the nation’s 100 largest hotel markets fell below 25,000 from
more than 30,000 one year ago, according to The Highland Group. That marks
a 21% drop in construction. In addition, 69 MSAs reported lower extended-stay
hotel RevPAR in 2025 compared to 2024. More than one fifth saw a greater than
5% decline which was more than twice the national average. “With about one
third of MSAs expecting 5% or less extended-stay supply growth and no increase
forecasted in one quarter of the 100 largest markets in 2026, the near-term
outlook is generally good for extended-stay hotels” said The Highland Group
Partner Mark Skinner.
Waldorf to Goa. Hilton has signed a deal for the 148-room Waldorf
Astoria Goa, marking Hilton’s third Waldorf Astoria in India, following the
signings of Waldorf Astorias Jaipur and New Delhi. Scheduled to open in 2030, the
Goa property is being developed by West Coast Hotels Pvt. Ltd., a joint
venture between the V.S. Dempo Group and Triton Hotels & Resorts
Pvt. Ltd. The deal also expands Hilton’s trading and pipeline presence in Goa
to four hotels.
Regent spa brand launches. IHG Hotels & Resorts has
debuted the first Regent Spa & Wellness concept at the Regent Bali Canggu. Developed
by IHG’s team of wellness specialists, known as Raison d’Etre, the concept is
guided by the clear intention to elevate guests above the noise. Future Regent
Spa openings are set for Jeddah, Kuala Lumpur and Kyoto within the next five
years.
PM transitions DC hotel. PM Hotel Group has transitioned the
of Hotel Arboretum to City Express by Marriott Washington, DC Northeast. The
repositioning introduces the City Express by Marriott flag to Northeast
Washington, D.C.. The property is owned by Rocks Hospitality. As part of the
brand transition, the hotel is undergoing enhancements to guestrooms and public
spaces.
More fallout from Mexico. Kovay Gardens a 22-room luxury resort
abutting the Pacific Ocean was part of a fraudulent timeshare network,
according to federal authorities, benefiting the Cartel de Jalisco Nueva
Generacion, whose leader – Nemesio Ruben Osequera Cervantes, better known as El
Mencho, was fatally shot on February 22 near Guadalajara as part of a Mexican
military operation, according to a USA Today report. The U.S. Treasury
Department’s Office of Foreign Assets Control has issued sanctions against the
resort in addition to five Mexican citizens and 17 Mexican companies linked to
the network, which authorities say often targeted vulnerable older Americans.