Latest news: Cooper buys in Florida; HEI adds in Miami; Atlantis to Maldives

Cooper acquires in Florida. Memphis-based Cooper Hotels has acquired the 107-key Hampton Inn Naples Central in Naples, Florida, from Highgate for an undisclosed amount. The hotel was built in 1990 and recently underwent $4.1 million in capital improvements in 2023. This is Cooper’s second hotel in Naples and its seventh in Florida. Hunter Hotel Advisors facilitated the transaction.

HEI adds in Miami. Norwalk, Connecticut-based HEI Hotels & Resorts has been selected to manage the 179-key Mayfair House Hotel & Garden in Miami’s Coconut Grove neighborhood.

Kerzner adding Atlantis in Maldives. Dubai-based Kerzner International, together with Qatar-based Assets Group, is adding the Atlantis The Royal, Maldives, opening in the South Malé Atoll in 2029. The resort and lifestyle development will include 493 rooms, including 270 hotel rooms and 223 villas and mansions; more than 20 dining venues; a wellness sanctuary; the Lost Chambers Aquarium; and an amusement park with up to 15 rides.

Wyndham adds in Puerto Rico. The 78-key Bali Posh Hotel in Isla Verde, Puerto Rico, is joining Wyndham Hotels & Resorts as part of the Trademark Collection by Wyndham.

China pipeline update. China’s hotel construction pipeline stands at 3,695 projects with 656,873 rooms, according to Lodging Econometrics data. At the close of the third quarter, there were 2,728 projects/478,859 rooms under construction with 332 projects/56,141 rooms scheduled to start construction in the next 12 months. Projects in the early planning stage total 635 projects with 121,873 rooms. Construction starts increased in Q3, rising 10% year-over-year (YOY) by projects and 5% by rooms, to close the quarter at 265 projects/41,189 rooms. New project announcements in Q3 totaled 252 projects/34,721 rooms. The upper midscale chain scale reached a record-high project count this quarte with 1,229 projects/185,208 rooms. Combined brand conversions and renovations reached record-high project totals at Q3, increasing 21% YOY by projects and 9% YOY by rooms, with 225 hotels/41,370 rooms. Brand conversions alone hit record-high project and room counts, with 208 projects/36,038 rooms.

IHG adds in Montenegro. IHG Hotels & Resorts is partnering with Uniprom Hoteli d.o.o. to develop the 81-key Crowne Plaza Budva in Montenegro with an expected opening in 1Q26. Crowne Plaza’s European portfolio includes more than 110 open and pipeline properties – among them Crowne Plaza Durres in Albania in Kolašin, Montenegro. IHG has 12 open hotels within the Balkan region across Bulgaria, Montenegro, North Macedonia, Serbia and Slovenia, with a further 10 in development. Crowne Plaza Budva will join four open IHG properties in Montenegro.

European business travel increasing. Spending on business travel in Europe is projected to reach €389.9 billion in 2026, marking an 8.2% increase from 2025, according to the Global Business Travel Association (GBTA). European spending on business travel is forecast to grow to €441.6 billion by 2028, which marks a decline from the previous year’s forecast to reach €476.6 billion by 2028. Germany, the U.K., France, Italy, Spain and the Netherlands were ranked as the top six European business travel markets in 2025. Collectively, these markets represent more than €241.5 billion and 17.7% of the total €1.36 trillion in global business travel spend estimated for 2025.

IHG adds in Cambodia. IHG Hotels & Resorts is partnering with Continent Crown Investment Management Co., Ltd. to develop the 276-key Crowne Plaza Phnom Penh in Cambodia. Integrated within the CG Fortune Center, a mixed-use development featuring office, retail, and entertainment, the property will rebrand in two phases following its conversion from the VM Hotel. Crowne Plaza Phnom Penh will open with 137 refurbished rooms and suites by the end of this year, after which a new extension wing with an additional 139 keys will be ready by 2027.