Latest news; IHG expands in S. Korea; all-inclusive Hyde in Turkey; possible tax benefit for US hoteliers

IHG expands voco in South Korea. IHG Hotels & Resorts has partnered with Gravity Asset Management’s Seoul South Gate Hotel Operations Co. and Hotel HDC Co. to sign a voco Seoul Myeongdong. The 576-key property will be rebranded as voco and will open in the middle of this year. This will be the second voco in South Korea. IHG has nine open hotels across four brands in the country, with three in the pipeline.

Hyatt adds in Oklahoma City. The Fordson Hotel in Oklahoma City has joined the Unbound Collection by Hyatt brand, which is Unbound’s first foray in the state. The 135-key hotel is owned by Dallas-based Hall Capital and managed by Avion Hospitality.

Ennismore’s Hyde brand debuts in Turkey. Ennismore’s Hyde hotel brand is making its debut in Turkey with the 216-key Hyde Bodrum, which will open in May. It is the first hotel within the Hyde series to offer an all-inclusive option. Hyde Hotels, Resorts & Residences was formed in 2021 as part of a joint venture with Accor, which holds a majority of its shares. There are four locations open worldwide, with two more in the pipeline.

Envi expands in Africa. Dubai-based Envi Lodges is expanding its presence in Africa after signing a new lodge on the outskirts of Arusha in Tanzania. The 20-key Envi Kili is scheduled to open in the fourth quarter of 2024. It marks Envi’s second venture in East Africa after a deal to manage the Envi Paje ecolodge in Zanzibar was signed last year.

AHLA: Pending tax bill could benefit hotels. The Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) could provide tax relief to hotels across the country and incentivize investments in renovations and property upgrades, according to a Cornell University study commissioned by the American Hotel & Lodging Association. Cornell’s Center for Hospitality Research conducted a study that says hotels of all sizes and service levels could benefit from H.R. 7024’s provisions to extend 100% bonus depreciation and expand the deductibility of business interest. The bill passed the House of Representatives in January and is now pending in the Senate.  

Hotel Bonvecchiati €45M renovation. Construction has begun on €45 million repositioning of the historic Hotel Bonvecchiati in Venice. Over the next two years, ECE Real Estate Partners, SORAVIA, and denkmalneu are partnering to create a 168-key lifestyle hotel under the Only You brand for the Palladium Hotel Group.

AHLI acquires marketing agency. Dallas-based Associated Luxury Hotels International (ALHI) has acquired San Diego-based marketing agency 62ABOVE for an undisclosed amount. The move aligns with ALHI’s plan to expand its range of services and deliver to its 250 member organizations and network of luxury clients.

Coast and Country sells Eastbourne hotel. Coast and Country has sold the Majestic Hotel in Eastbourne, England, to an undisclosed buyer for an undisclosed amount. The 19th-century Victorian hotel has 95 rooms and is one of 33 put up for sale last year by Coast and Country. The remaining 32 hotels are still up for sale with Christie and Co.

EasyHotel building in Spain. London-based easyHotel, a low carbon affordable hotel chain, has acquired a site to build and develop a new hotel in Alicante, Spain. The 97-key hotel is scheduled to open in 2026. EasyHotel has a portfolio of 47 hotels across Europe.

Accor adds Sofitel in India. Accor has partnered with EBU Estate Developers Pvt. Ltd. to develop a Sofitel hotel in Jaipur, India. The 275-key Sofitel Jaipur Jawahar Circle is scheduled to open in 2028.

IHCL adds Taj in Kerala. The Indian Hotel Co. Ltd. (IHCL) has signed a Taj-branded resort in Kollam, Kerala, India. IHCL is partnering with Chaco Paul, managing director of Joy’s The Beach Resort Pvt. Ltd., on the project. The 205-key Brownfield development will be IHCL’s 20th hotel in Kerala, including six in the pipeline.

Radisson adds in India. Radisson Hotel Group is debuting its luxury lifestyle brand, Radisson Collection, in India with the opening of the 212-key Radisson Collection Hotel & Spa, Riverfront Srinagar. The hotel is the largest in the Jammu and Kashir region and the eighth in the region for Radisson.