Latest news: Tafer's new management arm; refi in Silicon Valley; Raines adds in GA

Tafer launches management services. Puerto Vallarta, Mexico-based Tafer Hotels & Resorts is launching its hospitality management services and has signed agreements to manage three properties: Palmar Azul Beach in Mexico’s Riviera Maya, as well as Garza Blanca Resort & Spa Miches and Kairi Club Miches in the Dominican Republic. The Palmar Azul Beach Resort Riviera Maya by Tafer will reopen in January 2025 following an extensive renovation; the Garza Blanca Resort & Spa Miches by Tafer in the Dominican Republic is set to open in late 2026 following construction; and the Kairi Club Miches by Tafer will also debut in late 2026 in the Dominican Republic following construction. Tafer owns and manages over 4,000 keys in Mexico, with another 2,000 keys in its pipeline in Mexico and the Caribbean. The company projects to own 6,000 keys and manage 2,000 keys by 2028.

Huntington refinances Silicon Valley hotel. An affiliate of Irving, Texas-based Huntington Hotel Group has secured $43.8 million in bridge financing for the 162-key Courtyard by Marriott San Jose Campbell hotel in California. JLL represented the borrower in securing a floating-rate loan through Prime Finance for up to five years, including extensions. The hotel had financing from construction that dates back to 2008. Proceeds of the loan were used to retire that facility and provide funds for the upcoming brand-mandated PIP.

Raines adds in Georgia. Florence, South Carolina-based Raines has added the Sea Palms Resort in St. Simons Island, Georgia, to its management portfolio. The 121-key property is owned by Dallas-based RREAF Holding and will become part of Woven by Raines, the company’s lifestyle division.

Apollo acquires The Travel Corporation. Private equity firm Apollo Funds will acquire the Travel Corporation (TTC) as part of a new agreement the travel group has entered into with the company. Financial terms have not been disclosed and certain brands are not included in the sale, notably the Red Carnation Hotel Collection, and will remain under the continued stewardship of the Brett Tollman family. The acquisition will end TTC’s run as a privately owned and operated company that has lasted for over a century. It consists of 18 travel brands, including escorted tour operator Trafalgar, luxury all-inclusive river cruise line Uniworld, youth travel brand Contiki and premium guided tour brand Insight Vacations. The transaction is expected to close in the fourth quarter of 2024.

Criterion adds in Edinburgh. U.K.-based Criterion Capital Partners has purchased a site in Edinburgh to open its first Zedwell hotel in Scotland. The project at the former Debenhams store is scheduled to open in 2026 and is part of Criterion’s pipeline of 22 hotels and 7,000 rooms.

Minor acquires in Melbourne. Minor Hotels has acquired the Jazz Corner Hotel in Melbourne, Australia, from an undisclosed seller for an undisclosed amount. The hotel will continue to operate under its current name.

McKeever adds in UK. Northern Ireland-based McKeever Hotels has acquired The Lodge Hotel in Coleraine, Northern Ireland, from an undisclosed buyer for an undisclosed amount. The 56-key hotel is the sixth for the company.

Trilogy adds in Australia. Sydney-based Trilogy Hotels has signed an agreement to manage the Courtyard by Marriott, Sydney-North Ryde, with the property soon to be rebranded as a Crowne Plaza. Trilogy Hotels will take over operations for the 196-key Courtyard in January 2025 when it transitions to Crowne Plaza Macquarie Park.

Former Tropicana Inn to reopen. The newly renovated Tropicana Los Cabos will reopen in San Jose del Cabo, Mexico, this August. The 70-key property with two restaurants was originally built in 1956 as the Tropicana Inn.  Before its renovation, the property originally had 38 rooms and one restaurant. It is part of Hilton’s Tapestry Collection.

Marriott debuts Sheraton on Papua New Guinea. Marriott International has signed an agreement with Port Moresby, Papua New Guinea-based Dynasty Development Ltd. to introduce its Sheraton Hotels & Resorts brand to the country by converting the 378-key Stanley Hotel and Suites in Port Moresby. The Sheraton Port Moresby Stanley Hotel and Suites is slated to open in August 2025 following renovations. It will be Marriott’s second hotel in Port Moresby and the 11th Sheraton in the Australia Pacific region.

Meliá adds in Thailand. Meliá Hotels International has signed two new hotels in Thailand, including its first Paradisus by Meliá-branded property in Asia through an expanded partnership with Bangkok-based Asset World Corp. (AWC). The Meliá Pattaya City will open in December 2024 following a renovation, while the 43-story, 698-key Paradisus Jomtien Resort will debut in 2028.

SLH partners with MRS Group. Small Luxury Hotels of the World (SLH) is partnering with Jaipur, India-based The MRS Group of Hotels to expand its collection of hotels back into India. This collaboration integrates The MRS Group’s properties into SLH’s collection, including Suryagarh in Jaisalmer, Narendra Bhawan in Bikaner, and Mary Budden Estate in Binsar. The MRS Group of Hotels also anticipates gaining from SLH’s existing partnership with Hilton.

IHCL adds in Mumbai. Indian Hotel Co. Ltd. (IHCL) is partnering with Nagar, India-based Jagdale Infrastructure Private Ltd. on a 200-key Ginger-branded hotel in the Mumbai Metropolitan Region of Thane, Maharashtra. The 200-key Ginger Thane will be IHCL’s 35th hotel in Maharashtra, including 12 in its pipeline.