Breaking news about M&A, development, data and more.
Pivot
adds in Nebraska. Pivot,
the lifestyle operating vertical of Atlanta-based Davidson Hospitality Group,
has been selected by Omaha, Nebraska-based Goldenrod Companies to manage
154-key The Scarlet, Lincoln, a Tribute Portfolio Hotel in Lincoln, Nebraska.
It’s the only hotel in partnership with the University of Nebraska-Lincoln and
is located on the Nebraska Innovation Campus.
US hotel performance lower. Hotel performance in the U.S. was lower than the previous week and had mixed comparisons year-over-year, according to the latest data from CoStar. For the week of June 16-22, occupancy was 69.5% (down 2.5% YOY), ADR was $159.88 (up 0.1%) while RevPAR was $111.17 (down 2.3%). Among the Top 25 markets, Seattle saw the highest year-over-year increases in occupancy (up 11.1% to 84.9%) and RevPAR (up 16.8% to $179.47) while Philadelphia posted the largest lift in ADR (up 6.5% to $170.10). The steepest RevPAR declines were in San Francisco (down 24.0% to $111.18) and New Orleans (down 21.8% to $68.40).
New hotel on site of Hilton Athens. The
historic Hilton Athens is being replaced by a new hotel and luxury residential
facility called The Ilisian thanks to a €340 million ($363.11 million)
investment from Athens-based Ionian Hotel Enterprises. The hotel and residences
will reflag under Hilton’s Conrad and Waldorf Astoria brands.
Boutique hotel opening in Frisco. The
Bays at Frisco, an 18-acre golf resort near the PGA of America headquarters and
the Omni PGA Frisco Resort in Frisco, Texas, has broken ground and is scheduled
to open in late 2025. The facility, a collaboration with Carlsbad,
California-based TaylorMade, will include a 100,000-sq. ft. golf lab and a
19-key boutique hotel on the third and fourth floors of the building.
Paris booking up closer to Olympics. With
one month until the start of the 2024 Summer Olympics, Paris hotel booking
levels are nearing 80%, according to CoStar data.
Occupancy has climbed in recent months as levels were pacing just above 60% in
April and at roughly 50% in February. Through June 17, occupancy
is peaking at 77.8% on Saturday, July 27, and opening night is a close second
at 77.7% for July 26. Last year, on those dates, Paris’ booking levels were
47.7% and 47.5% respectively. The lowest occupancy on the books for this year’s
Olympic period (59.8%) is Sunday, August 11, the last night of the competition.
Radisson
adds in South Asia. Radisson
Hotel Group has signed 10 new hotels in four days in South Asia. The signings
are across brands, including Radisson Blu, Radisson, Radisson Individuals, and
its brand extension Radisson Individuals Retreats and five in India are the
first internationally branded hotels in those markets: Jawai (Rajasthan), Sagar
(Madhya Pradesh), Yavatmal (Maharashtra), Ooty (Tamil Nadu) and Calicut
(Kerala). Raidsson has over 180 hotels open or in development in India.
Dalata updates 2024 performance.
Dublin-based Dalata Hotel Group, which owns the Maldron and Clayton hotel
brands, said that while the early months of 2024 were quieter for the company,
its performance improved in the last few months. Dalata said the trading
environment had been quieter in the early months of the year, with group RevPAR
down 4% behind 2023 levels. Still, in May and June, group RevPAR was 3% ahead
of 2023 levels, while corporate demand remained strong and ahead of last year.
Dalata has a portfolio of 54 hotels with a pipeline of three further hotels due
to open in the UK this year.